Group 1 - The core point of the article is that Huasheng Co., Ltd. plans to acquire 100% of Yixin Technology through a combination of share issuance and cash payment, aiming to enter the AIDC field and optimize its business structure [1][3] - The specific transaction price and the ratio of shares to cash payment are yet to be determined as the audit and evaluation of the target assets are not completed [1] - Huasheng Co., Ltd. has been facing challenges in its main business due to macroeconomic slowdown, fluctuating domestic and international demand, intensified competition, and rising costs of raw materials and labor [1][3] Group 2 - Yixin Technology specializes in AIDC and focuses on providing full lifecycle services for green computing infrastructure, aiming for low-carbon, high-density, and intelligent upgrades [2] - Yixin Technology has established and operates multiple high-performance intelligent computing centers in various locations, including Shenzhen and Guangzhou, and is expanding its presence in central China [2] - The acquisition is expected to enhance Huasheng's integration into the national computing network layout and support the high-quality development of new productive forces [2][3] Group 3 - The acquisition aligns with national and provincial strategic deployments, responding to the wave of artificial intelligence technology and the upgrade of digital industrial structure [3] - The transaction represents a breakthrough for Huasheng and its controlling shareholder, aiming to transition from traditional industries to strategic emerging industries [3] - Post-transaction, the introduction of quality AIDC assets is expected to significantly enhance the growth potential, profitability, and future development space of the company [3]

2024年，太行算力中心项目提速。同年5月15日，火山云大同公司曾以3285万元拿下大同市广灵县成交1宗工业用地。 中指土地数据显示，该地块为工业用地，位于大同市广灵县，建设用地面积73964㎡，规划建筑面积73964㎡，起拍价 3215万元，起拍楼面价435元/㎡。 同年7月，大同市广灵县人民政府网站发布抖音火山云太行算力中心二期项目建设项目规划许可公示牌。同月，抖音大 同电商直播基地也获得授牌，将以电商为媒介，将企业、高校、个体进行资源整合，培养地方示范性标杆直播企业， 并赋能更多当地传统企业。11月，抖音集团对火山云大同公司进行了注资增加，由1.6亿元增至23.6亿元，增幅1375%， 此举再一次推进了太行算力中心项目二期建设进度。 今年1月，火山云太行算力中心二期项目建设用地规划许可证正式获批。二期项目建设用地规划许可证便已正式获批。 据悉，该项目分两期建设，其中，一期投资总额约28亿元，占地220亩。项目二期投资总额达到45亿元，占地307.5亩， 相比一期投资规模明显增大。 在火山云太行算力中心项目得到新进展后，大同市委市政府领导便迅速与抖音集团高层座谈，并探索推进新项目。 算力作为新型生产力，已 ...

6月18日，*ST合泰(002217)在公司官微发布，近日与重整产业投资人杭州骋风而来数字科技有限公司 （以下简称"骋风而来"）共同设立合资公司，促进公司在算力基础设施集成服务、底座代建服务、平台 运营服务和算力应用服务等业务领域的经营与发展。 据了解，合资公司福建智泰驰骋数字科技有限公司（以下简称"智泰驰骋"），注册资本为1亿元，*ST 合泰和骋风而来均以货币出资，分别持有60%和40%股权。智泰驰骋定位为算力产业综合服务商、创新 算力技术推动者和算力生态构建者，将聚焦算力领域的前沿技术研究与应用创新，积极推动算力技术与 各产业深度融合创新，挖掘应用场景，充分发挥算力技术的赋能作用。智泰驰骋将借助骋风而来在算力 技术和应用解决方案方面的专业优势，提供涵盖算力基础设施搭建、平台运营和应用开发的产业综合服 务。与产业链各方一道，共同推动算力产业的技术进步和产品创新，着力构建一个开放、协同、共赢的 算力生态系统，促进产业协同发展。 *ST合泰管理层表示，公司自2024年进入重整计划执行阶段以来，明确将算力业务作为重点培育方向， 亟需构建具备可持续造血能力的新业务体系。公司进军智能算力领域，是重整产业投资人对公司进 ...

Group 1 - The core viewpoint of the articles highlights the strong performance of computing hardware stocks and the positive outlook for the AI computing power sector in China, with significant growth expected in the coming years [1][2] - The China Intelligent Computing Power Scale is projected to reach 1037.3 EFLOPS by 2025 and 2781.9 EFLOPS by 2028, with a compound annual growth rate of 38.94% from 2025 to 2028 [1] - The CSI Big Data Industry Index (930902) saw an increase of 0.99%, with notable gains from constituent stocks such as Tianxiao (up 4.60%) and Hengsheng Electronics (up 4.54%) [1] Group 2 - Open Source Securities emphasizes the AIDC computing power industry chain as a core focus, recommending attention to seven key industry directions, including AIDC data center construction and IT equipment [2] - The Data ETF (516000) closely tracks the CSI Big Data Industry Index, which includes companies involved in big data storage, analysis, and applications, reflecting the overall performance of the big data and computing power industry [2] - The big data industry, represented by the Data ETF, is positioned as a key sector driven by policy catalysts and technological iterations, characterized by a dual engine of "computing power foundation + scenario innovation" [2]

Group 1 - The market is shifting focus from geopolitical events to industry trends, with sectors like wind power equipment, computing power supply chain, and consumer electronics showing strength [1] - Historically, the market is approaching two key convergence points: the mid to late June period where the market begins to speculate on interim performance, particularly in the computing power supply chain, with high expectations for areas like optical modules and PCBs [1] - At the same time, the end of the quarter typically sees institutional rebalancing, leading to significant excess returns for heavily weighted fund stocks [1] Group 2 - Dongshan Precision (002384) saw a rise of over 7%, hitting the daily limit, with a trading volume of 5.89 billion yuan, making it the top stock in A-shares for the day [1]

未来三年将实现什么目标？ 到2026年，建立较为完备的算力互联互通标准、标识和规则体系。在设施互联方面，推广新型高性能传 输协议，提升算力节点间网络互联互通水平；在资源互用方面，建成国家、区域、行业算力互联互通平 台，统一汇聚公共算力标识，实现全国头部算力企业的公共算力资源互联；在业务互通方面，推动算、 存、网多种业务互通，实现跨主体、跨架构、跨地域算力供需调度；在应用场景方面，开展算力互联网 试验网试点，赋能产业普惠用算。 到2028年，基本实现全国公共算力标准化互联，逐步形成具备智能感知、实时发现、随需获取的算力互 联网。 将推动解决哪些产业发展难题？ 近日，工业和信息化部印发《算力互联互通行动计划》(以下简称《行动计划》)。为更好地理解和实施 《行动计划》，结合各方关注的问题，现对有关政策要点解读如下。 什么是算力互联互通？ 当前人工智能产业快速发展，全球算力资源使用需求不断攀升，算力互联互通已成为国内外关注焦点。 算力互联互通是在现有互联网体系架构基础上，通过构建统一算力标识、增强异构计算和弹性网络能力 等方式，将不同主体、不同架构的公共算力资源标准化互联，形成可查询、可对话、可调用的服务能 力，实现 ...

智算中心设计人才，即整体规划设计者。单台GPU服务器功耗高达数十千瓦，传统供电与散热方案难以 匹配，业务波动性更要求机房具备弹性扩展能力。设计者需融合绿色能源技术、模块化架构与老旧机房 改造方案，例如在东部高电价地区采用液冷技术降耗，或通过动态设计灵活调配算力资源，平衡"双 碳"目标与经济可行性。 智算IT组网与运维人才，即IT技术人员。智算中心运维复杂度远超传统数据中心，需应对异构计算环境 优化、多平台资源池化及国产芯片适配等挑战。例如在推理场景中通过量化压缩技术降低算力依赖，或 在训练过程中动态调整资源分配提升效率。运维人才需从"设备维护者"转型为"技术整合者"，兼具硬件 调试与算法调优能力。 智算消纳场景开发人才，即综合性商业人才。当前算力资源多集中于互联网巨头的大模型训练，而制造 业、医疗等传统行业应用尚未充分挖掘。这类人才需要探索应用场景的拓展，将抽象算力转化为行业解 决方案。例如为智慧城市设计交通调度模型时融合算力分布与实时数据，或为药企搭建分子模拟平台时 平衡计算精度与成本，推动技术向产业价值转化。 在数字经济蓬勃发展的当下，算力作为核心生产力，正引领新一轮科技革命和产业变革。其中智算作为 算力 ...

证券研究报告·行业跟踪周报·电子 电子行业跟踪周报 甲骨文资本开支亮眼，关注二、三线 AI 厂商 相关投资-算力周报 增持（维持） ◼ 甲骨文 25/26 财年资本开支亮眼，关注二、三线 AI 大厂相关投资 本周算力产业链相关公司股价持续强劲。全周行情来看，数通 PCB/CCL 板块中沪电股份+9%、广和科技+7.37%、生益电子+5.66%； 服务器代工方面，工业富联+2.9%。对于算力需求，此前市场关注焦点 仅在北美头部云服务厂商资本开支方面，但二线云服务厂商及其他 AI 相关厂商等长尾客户需求依然值得重视。如本周甲骨文发布 FY25Q4 财 报，公司 25 财年资本支出超 210 亿美元，同增超 3 倍，指引新财年资 本开支将超 250 亿美元。马斯克旗下 xAI 启动了 50 亿美元债务销售， 这笔资金可能有助于马斯克继续大举投资 AI 基础设施。此外如本周黄 仁勋在 GTC 巴黎演讲中提到的英国云服务商 Nebius 和 Nscale，Nebius 已启动了一项 10 亿美元的私人配售，Nscale 正在推进一项总额约 27 亿 美元的融资计划。 ◼ 甲骨文：26 财年资本开支 250 亿美元，数据 ...

Market Overview - On June 12, A-shares opened lower but closed higher, with the Shanghai Composite Index rising by 0.07% to 3404.66 points, the Shenzhen Component Index up by 0.05%, and the ChiNext Index increasing by 0.5% [1][2] - The total trading volume for A-shares reached 793.75 billion yuan for the half-day session [1] Monetary Policy - The People's Bank of China conducted a 7-day reverse repurchase operation of 119.3 billion yuan at a fixed rate of 1.40%, with a net withdrawal of 7.2 billion yuan for the day [2] Industry Developments - Shenzhen aims to become a global leader in artificial intelligence, implementing the "AI+" initiative and accelerating major AI infrastructure projects [3] - The Ministry of Industry and Information Technology emphasized the importance of timely payments in the automotive sector, particularly for new energy vehicles, to foster a collaborative ecosystem [3] Sector Performance - The computing power industry chain showed strength, with CPO-related stocks leading gains; Tianfu Communication and Lian Te Technology both surged over 10% [3] - Quantum technology stocks also performed well, with companies like Geer Software and Dongxin Peace hitting the daily limit [3] Quantum Technology Insights - Quantum computing is recognized for its strategic value and potential benefits, particularly in fields like pharmaceuticals and materials science [4] - Various countries are actively implementing supportive policies for the quantum computing sector [5] Company Highlights - **Sanwei Xinan**: Focuses on R&D in quantum-resistant cryptography and has developed next-generation cryptographic chips and privacy computing platforms [6][7] - **Dongxin Peace**: Expected to maintain stable growth in its smart card business and digital identity security, with a positive outlook on its fundamentals [7] - **Geer Software**: Anticipated to benefit from the accelerating demand for AI security solutions, positioning itself for growth [7] - **Jida Zhengyuan**: Integrates cryptography with AI and security chip design, aiming for rapid commercialization of its solutions [8]

Group 1 - The core viewpoint of the news is the strategic merger between Haiguang Information and Zhongke Shuguang, which is seen as a significant event in the domestic computing power industry, optimizing resource allocation and fostering innovation [1][4] - The merger involves a share exchange ratio of 0.5525:1, with Haiguang Information as the absorbing party and Zhongke Shuguang as the absorbed party, aiming to enhance collaboration between high-end chips and systems [2][5] - Following the merger, Zhongke Shuguang will be delisted, and Haiguang Information will inherit all assets, liabilities, and rights from Zhongke Shuguang, with new shares to be listed on the Sci-Tech Innovation Board [3] Group 2 - The merger is expected to create synergies by combining Haiguang Information's expertise in high-end processor design with Zhongke Shuguang's capabilities in high-end computing and digital infrastructure [4][5] - This strategic move aligns with the trend of promoting domestic self-sufficiency and is seen as a natural response to the demands of technological competition, enhancing the competitiveness of the domestic computing power industry [5] - The merger is the first major absorption merger transaction following the revision of the "Major Asset Restructuring Management Measures" on May 16, indicating a positive trend in the capital market for mergers and acquisitions [6]