Core Viewpoint - The recent developments in China's semiconductor industry, including new regulations and export restrictions from the U.S., highlight the urgent need for domestic computing power localization as a critical choice for various sectors in China [1]. Group 1: Domestic Computing Power Development - The "2024 China Computing Power Development Report" indicates that by 2024, the total scale of computing power centers in China will exceed 8.3 million standard racks, with a total computing power of 246 EFLOPS, ranking among the top globally [2]. - Experts emphasize the importance of confidence in domestic computing facilities, asserting that they possess international competitiveness and should be actively utilized [2]. - A "research first" strategy is proposed to overcome the bottlenecks in the application of domestic computing power, particularly in commercial sectors where cost pressures exist [2]. Group 2: High-Performance Computing (HPC) Significance - High-performance computing centers, with vast storage and advanced processing capabilities, are crucial for scientific research and innovation in fields such as engineering simulation and genetic analysis [3]. - The advancement of domestic high-performance computing has significantly improved capabilities in areas like cosmic simulations, enhancing the precision of research [3]. Group 3: Systematic Innovation for Competitiveness - Experts argue that surpassing foreign counterparts in domestic computing power requires systematic innovation rather than relying on individual devices or metrics [4]. - The urgency for domestic computing power localization is underscored by recent restrictions on access to key biomedical databases for Chinese users, highlighting the need for a robust domestic supply chain [4]. Group 4: Policy and Ecosystem Development - The establishment of a domestic computing ecosystem is deemed essential, with suggestions for collaboration between manufacturers and research institutions to create open-source communities [7]. - Strong policy measures are advocated to ensure the successful implementation of domestic computing power solutions, as voluntary efforts may not suffice [7].

证券代码：300113 证券简称：顺网科技 杭州顺网科技股份有限公司投资者关系活动记录表 2024 年度，公司实现营业收入 183,954.85 万元，同比增长 28.37%；实现归 属于上市公司股东的净利润 25,188.34 万元，同比增长 48.60%。 2025 年第一季度，公司实现营业收入 57,801.79 万元，同比增长 40.25%；实 现归属于上市公司股东的净利润 7,346.77 万元，同比增长 37.48%。 二、交流环节 Q1：请介绍公司在电竞行业的市场优势 A：公司凭借多年业务实践与技术积累，以科技赋能电竞产业全链路，为产业 链上游游戏厂商、中游电竞实体、下游电竞用户提供端到端的科技解决方案。核 心产品覆盖全国电竞服务行业 70%以上市场，触及全国 96%以上城市，与各地 2000 余家合作伙伴始终保持着良好合作关系。 Q2：请介绍公司未来发展战略 A：公司将在既定战略目标的指引下，凭借深厚的技术沉淀与团队持续的创新 能力，将进一步提升核心竞争力。深耕细作电竞领域，助力文化科技创新融合； 丰富互动娱乐矩阵，持续打造泛娱乐全新体验；积极探索前沿技术，推动布局算 力、人工智能等新兴业务落 ...

Core Viewpoint - The launch of the China Computing Power Platform in Nanchang aims to enhance the national computing power infrastructure and services, promoting a comprehensive open access to computing resources across various sectors [1] Group 1: Platform Features - The China Computing Power Platform integrates several functions including computing power monitoring, supply-demand matching, dynamic scheduling, industry ecosystem community, and computing power challenge actions [1] - The platform aims to achieve five key objectives: a national "computing power resource ledger," a "one-stop service" for computing power matching, a "unified network" for computing power scheduling, a collaborative "computing power ecosystem," and a "core technology breakthrough" list for technological innovation [1] Group 2: Key Participants - The launch ceremony was attended by Wang Zhiqin, Vice President of the China Academy of Information and Communications Technology, and Dai Bin, Deputy Director of the Shanghai Communications Administration [1]

流动性方面，恒生科技ETF基金盘中换手8.94%，成交7988.12万元。拉长时间看，截至5月20日，恒生科技ETF基金近1月日均成交1.63亿元。 数据显示，杠杆资金持续布局中。恒生科技ETF基金最新融资买入额达1106.15万元，最新融资余额达2118.62万元。 从估值层面来看，恒生科技ETF基金跟踪的恒生科技指数最新市盈率（PE-TTM）仅21.31倍，处于近5年13.9%的分位，即估值低于近5年86.1%以上的时间， 处于历史低位。 截至目前，腾讯控股、阿里巴巴、京东集团等7家头部科技公司公布一季报，营收和净流入均实现正增长，其中，阿里巴巴、吉利汽车净利润同比增速超 260%，比亚迪股份、中芯国际等净利润同比增幅超100%。 截至2025年5月21日 13:01，恒生科技指数上涨0.70%，成分股哔哩哔哩-W上涨6.85%，阅文集团上涨5.20%，理想汽车-W上涨4.41%，比亚迪电子上涨 2.77%，蔚来-SW上涨1.80%。恒生科技ETF基金(159741)上涨0.42%。 中泰证券指出，2025年互联网龙头、算力等港股科技板块有望走出类似2021年新能源行情，成为局部结构性机会主线。可重点关注 ...

Core Viewpoint - The company, Hongjing Technology, has signed a significant service contract with a mysterious entity referred to as "Company Y," which is expected to positively impact its performance in the computing power sector [1][2]. Group 1: Contract Details - Hongjing Technology announced a service contract with "Company Y" totaling 5.97 billion yuan (including tax) for a duration of five years [1][2]. - The contract involves providing servers, network integration services, necessary server modifications, and computing power services, with monthly payments for the service fees [2]. - This contract is part of the company's regular business operations and does not require board or shareholder approval, nor does it constitute a related party transaction or a major asset restructuring [2]. Group 2: Business Impact - The signing of this contract is seen as a market validation of Hongjing Technology's capabilities in computing power services and customer support, marking the beginning of a larger strategic collaboration [2]. - If the contract is executed smoothly, it is expected to have a positive impact on the company's operational performance [2]. Group 3: Previous Orders and Total Value - "Company Y" has been a recurring client for Hongjing Technology, with previous contracts signed in March and April, totaling over 21 billion yuan in orders since October of the previous year [4][5]. - The first large order from "Company Y" was disclosed on March 12, amounting to 7.21 billion yuan, followed by additional contracts of 5.63 billion yuan and 2.35 billion yuan [4][5]. Group 4: Strategic Expansion - Hongjing Technology is deepening its computing power layout and expanding into the artificial intelligence industry, aiming to support high-performance computing and AI training through a unified computing power pool [3]. - The company has also established a wholly-owned subsidiary, Shenzhen Zhijuxinghe Technology Co., Ltd., focusing on artificial intelligence hardware sales and related services [3].

Core Viewpoint - Runze Technology demonstrates a strong commitment to shareholder returns through stable dividends, reflecting confidence in future growth, particularly in the AIDC business driven by increasing investments in AI by major domestic internet companies [1][2][3]. Group 1: Dividend Policy - The annual shareholder meeting approved a profit distribution plan for 2024, with a total cash dividend of 222 million yuan, bringing the total dividends since the 2022 restructuring to 2.618 billion yuan [2]. - The company plans to continue its dividend policy, with a potential mid-year cash dividend cap of 688 million yuan for 2025, contingent on achieving a net profit exceeding 688 million yuan in the first half of 2025 [2][3]. Group 2: AIDC Industry Growth - The AIDC industry is entering a new growth cycle, supported by significant increases in capital expenditures from major players like Alibaba and Tencent, with Alibaba's capital expenditure reaching 31.775 billion yuan, a year-on-year increase of 258.76% [3][4]. - Tencent's capital expenditure also surged to 36.578 billion yuan, a year-on-year increase of 386.15%, with plans for further increases in 2025 [3][4]. Group 3: Infrastructure and Market Position - Runze Technology has established seven AIDC infrastructure clusters across six regions in China, completing a nationwide integrated computing center framework with plans for 61 intelligent computing centers and approximately 320,000 cabinets [4]. - The company employs a "self-invest, self-build, self-hold, self-operate" model to create a competitive moat, attracting leading AI clients and building deep trust through comprehensive intelligent computing services [4][5]. Group 4: Long-term Value and Strategic Positioning - The combination of stable dividends and strategic acquisitions strengthens investor confidence and lays a foundation for long-term value growth [5]. - Runze Technology is positioned to capture industry leadership through its technological reserves, market layout, and shareholder return mechanisms, making it a key focus for capital markets [5].

宏景科技（301396）再次斩获大额算力服务订单。 "公司通过高速网络整合分散的计算资源，形成可动态调度的统一算力池，支持高性能计算、AI训练等 场景，以帮助客户算力组网、集成，实现算力的高效聚合、协同共享，提升算力资源利用率。"宏景科 技表示，本次合同签署是市场对公司在算力业务及客户服务的进一步肯定，是各方展开更大规模战略性 合作的开始，对公司算力业务的深化布局、市场的积极开拓和品牌效应建立都有着积极正面的影响。 今年以来，宏景科技频频签下算力服务大单。2月25日，宏景科技发布公告称，公司与深圳X公司签署 《项目集成服务合同》，提供算力服务器集成服务，合同金额1.61亿元。3月12日公司再次公告，签订 了一项合同总金额7.21亿元(含税价)的智算合同，具体内容包括向客户提供服务器、组网配套、算力等 服务。 展望未来，东吴证券认为，国内算力租赁需求刚刚开始，今年一季度多家公司已经布局算力租赁赛道， 预计2025年半年报会有更多家公司体现算力租赁业务业绩。同时，H20被禁，下游客户需求会转向算力 租赁和国产算力卡。 宏景科技非传统算力赛道玩家，本是一家从事智慧城市业务的公司。2022年11月公司创业板上市，20 ...

Group 1 - The recent interest rate cut and reserve requirement ratio reduction have led to a stronger market performance compared to previous days, with a significant increase in trading volume of over 90 billion [1] - The military and shipping sectors are experiencing a downturn, with analysts suggesting that these sectors should be avoided due to their weak performance and lack of strong catalysts for recovery [1] - New consumption sectors have seen a resurgence, with market funds refocusing on this area, driven by better-than-expected industry data and favorable policies, although there are concerns about the sustainability of this trend [2] Group 2 - The new consumption sector is currently experiencing a trend of accelerated growth, but it is advised to avoid chasing these stocks as they may only provide short-term gains [2] - Future growth is expected to be driven by technology sectors, particularly humanoid robots, solid-state batteries, and consumer electronics, which are anticipated to have significant long-term potential [2] - Humanoid robots are compared to the early days of lithium batteries and new energy vehicles, indicating a strong belief in their future market penetration over the next decade [2]

随着以高性能计算为代表的高端算力基础设施全球供应链风险不断升高，算力国产化已成为我国信息产业乃至各行业发展的重要命题。由中国智能计 算产业联盟、全国信标委算力标准工作组近日在京举办的 "2025 中国算力发展专家研讨会"上，包括中国科学院院士在内的十余位专家、学者就各自领 域算力国产化挑战与应对进行探讨。 专家们认为，以自信打破"不敢用"的思维定式，以体系创新破解"不好用"的现实困境，以生态协同构建"可持续"的发展根基 ，将成为构建自主可控国 产算力体系的方向。 《中国算力发展报告（2024年）》显示，2024年，我国在用算力中心机架总规模超过830万标准机架，算力总规模达246EFLOPS（EFLOPS指每秒进行 百亿亿次浮点运算），位居世界前列。虽然算力总量很大，但国产算力设施贡献占比并不高。 "对国产算力设施要有自信，这是最关键的。要敢于把国产算力产业链上相关设备用起来。"中国科学院计算技术研究所研究员张云泉以"印巴空战验证 国产战机实力"为喻提出，国产算力已具备国际竞争力，关键要自信、要敢用。张云泉提醒，在此过程中不能浮躁，要兼顾国际标准，不能闭门造 车。 针对国产算力落地瓶颈问题，张云泉提出在国产算 ...

免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 （记者 曾健辉） 每经讯，正信光电5月20日发布公告称，算力是当前人工智能技术研究与应用的关键支撑要素，随着人 工智能的迅猛发展，尤其是大模型技术在各行业的落地应用，算力需求呈现出爆发式增长态势。为解决 算力供需矛盾，实现算力紧缺单位能够获得质优价廉的算力，同时提升智算中心的资源使用效率，并推 动绿色电力和算力的融合发展，打造光伏与算力的协同模式，扩大公司业务范围，拓展公司新的利润增 长点，充分发挥各方的资源和整合优势，公司拟与东方数港科创有限公司、陆昊婷、海南算网聚联企业 管理合伙企业共同投资设立杭州正信算联科技有限公司，进行算力的供需整合和对接。杭州正信注册资 本拟为人民币500万元，其中公司认缴出资175万元，占杭州正信注册资本的35%；东方数港科创有限公 司认缴出资125万元，占杭州正信注册资本的25%；陆昊婷认缴出资125万元，占杭州正信注册资本的 25%；海南算网聚联企业管理合伙企业认缴出资75万元，占杭州正信注册资本的15%。授权公司管理层 及其授权人员在不超500万元的出资额度范围内负责并办理本次对外投资的各 ...