格隆汇9月29日｜据央视财经，近期，算力基建成热点，多地政府超前布局。吉林明确，2027年底智能 算力规模预计突破5000PFLOPS，强调适度超前、科学布局全省的智能算力资源，即要跑在前面、预留 出未来的增长空间。湖北提出，2027年算力总规模达25EFLOPS，新建算力设施智算和超算的占比不低 于90%。我国已实现31个省、区、市的算力标识系统全线贯通，全国52条"数据快递"线路正式上线。商 业巨头也接连发力：阿里宣布三年3800亿AI基建计划并将追加投入，华为发布算力超节点及百万卡集 群突破算力瓶颈。 那么，这样热闹局面的背后，各方究竟在抢什么？一方面，是当前人工智能技术革命带来的海量需求牵 引，倒逼着算力基建超前布局。据估算，大模型训练算力需求每3-4个月就会翻一番。另一方面，算力 正成为驱动经济发展的重要生产力。好的算力基础设施，可以吸引到更多人工智能相关的企业落户、形 成产业集群，最终转化为新的经济增长动力。此前有机构测算，算力产业每投入1元，将综合带动3至4 元的GDP增长。 ...

热点情报 利好刺激下，固态电池方向走出涨停潮。 工信部等八部门联合印发的《新型储能制造业高质量发展行动方案》明确将固态电池列为重点攻关方 向，支持锂电池、钠电池向固态化发展，并计划在2027年前打造3至5家全球龙头企业。 截至9月25日，9月以来融资净买入逾1亿元的固态电池概念股有21只，宁德时代、先导智能、国轩高 科、赣锋锂业、厦钨新能等融资净买入额居前。 中信建投研究报告指出，固态电池正加速从实验室走向产业化，2027年前后有望实现全固态电池小批量 生产。 2. 牛市旗手异动 1. 固态电池涨停潮 清华大学化工系教授张强领衔的团队在锂电池聚合物电解质研究领域取得重要进展，该团队成功开发出 一种新型含氟聚醚电解质，该电解质通过热引发原位聚合技术，有效增强了固态界面的物理接触与离子 传导能力，有望为成熟的固态电池产品研发提供重要技术参考。相关成果已于9月24日在线发表于《自 然》。 | 17 | 代码 名称 | 涨幅量 | 现价 | 主力净量 主力金额 | | 涨跌 | 换手 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 688275 万润 ...

下一轮AI大机遇藏在"算力新基建"里。 时至今日，算力已成为社会运转的基础资源。从人脸识别到自动驾驶，从智慧医疗到虚拟现实，这些造福社 会的技术背后，都需要强大的算力支撑。 数据显示，算力指数每提高1个百分点，就能推动数字经济增长0.33%，GDP增长0.18%。 备受关注的是，在这场空前的智能"洪流"中，如何构建安全、高效、绿色的算力底座，已成为关乎国家与产 业未来竞争力的核心命题。 当前，全球科技巨头正在进一步加码算力基础设施。 在云栖大会上，阿里巴巴CEO吴泳铭抛出重磅消息：未来三年将投入3800亿元用于AI基础设施建设，计划追 加更多投入，这一金额创下中国民营企业AI基建领域最高投资纪录。 在分析人士看来，作为国内云服务市场33%份额的持有者，阿里此次豪赌不仅是自身抢占"算力主权"的战略 布局，更像一场投向行业的"资本海啸"，正引发从硬件到应用的全产业链共振。 9月26日，国家发展改革委等六部门联合印发《关于加强数字经济创新型企业培育的若干措施》。明确提 出，强化算力资源供给支撑。深入实施"东数西算"工程。加快构建全国一体化算力网。引导各类算力资源与 数创企业需求高效精准对接，降低算力使用门槛。 行业 ...

Group 1 - Shenzhen Dongyangguang Industrial Development Co., Ltd. (Dongyangguang Group) announced a plan to acquire 100% equity of Qinhuai Data's China business for 28 billion yuan through a cash payment [1] - The acquisition involves increasing capital in Yichang Dongshu No.1 Investment Co., Ltd. by Dongyangguang and its controlling shareholder, with amounts of 3.5 billion yuan and 4 billion yuan respectively [1] - Qinhuai Data's China business achieved revenue of 6.048 billion yuan and a net profit of 1.309 billion yuan in 2024, with revenue of 2.608 billion yuan and a net profit of 745 million yuan in the first five months of 2025 [1] Group 2 - Dongyangguang Group's chairman stated that the acquisition is a key step in integrating into the "East Data West Calculation" project and aims to build a national integrated computing power network [2] - The company plans to ensure smooth business transition and operation while focusing on resource integration in areas such as liquid cooling materials, AIDC, and clean energy [2] - The competitive bidding for Qinhuai Data's assets attracted multiple industry capital, internet companies, and local state-owned platforms, indicating high market recognition of the asset value [2]

Core Viewpoint - The article discusses the "AI Energy Paradox," highlighting the dual nature of AI technology that improves energy efficiency while increasing power consumption due to high computational demands. It emphasizes the challenges of achieving a balance between computational power, cost control, and low carbon emissions, referred to as the "impossible triangle" [1][2]. Group 1: Company Overview - Shandong Gaohigh Technology (山高控股) is recognized as a leader in the Chinese computing power sector, successfully addressing the industry's challenges with its "green electricity + computing power" dual-drive model, resulting in a remarkable 506% year-on-year increase in net profit [2][6]. - The company has established a unique ecosystem by integrating power generation, grid management, load balancing, and energy storage, which is essential for providing reliable and efficient computing power [5][6]. Group 2: Market Dynamics - By 2028, the demand for inference computing power is expected to surpass training computing power, making it a critical resource for AI operations. The Chinese intelligent computing market is projected to grow 2.5 times, with an annual growth rate of nearly 40% [3][4]. - The integration of the "source-network-load-storage" project in Ulanqab City, which aims to create an innovative mechanism for local power generation and consumption, is a significant step towards solving the "impossible triangle" [3][4]. Group 3: Financial Performance - In the first half of 2025, Shandong Gaohigh Technology reported revenues of 2.503 billion yuan, with 96% coming from emerging industries, and a net profit of 476 million yuan, reflecting a 506% increase year-on-year [6][7]. - The collaboration with Century Internet has led to significant growth in operational metrics, with Century Internet's revenue reaching 2.43 billion yuan in Q2, a 22% increase, and base business revenue growing by 112.5% [6][7]. Group 4: Strategic Initiatives - The company is expanding its green energy assets, having secured over 4 GW of new energy development indicators, which will support the replication of the Ulanqab model across other regions rich in clean energy resources [11][12]. - Strategic partnerships, such as the one with Huawei, enhance the company's capabilities in providing computing infrastructure and green energy solutions, particularly in zero-carbon parks and smart transportation projects [14][15]. Group 5: Future Growth Potential - The "electricity-computing integration" model is not merely a static asset combination but a dynamic ecosystem with significant growth potential, driven by three engines: replication, collaboration, and digital asset management [10][11][15]. - The issuance of tokenized products for real-world assets (RWA) positions the company to capitalize on the growing global RWA market, expected to reach $16.1 trillion by 2030, thereby opening new financing channels and revenue models [15][20].

Group 1 - The core viewpoint of the article highlights that domestic AI computing infrastructure service provider Jiliu Technology has completed nearly 100 million yuan in A+ round financing, led by Shanghai Guotou Futeng Capital and Guofang Innovation [1] - The financing will primarily be used for core technology and product research and development, market expansion, and team building [1] - Since its establishment in 2023, Jiliu Technology has participated in the construction of various large-scale computing clusters, ranging from hundreds to thousands and even tens of thousands of units [1] Group 2 - The company has successfully implemented multiple long-distance training and computing power clusters [1] - Jiliu Technology has received multiple rounds of investment from first-line funds, industrial capital, and local state-owned assets, with a cumulative financing amount reaching several hundred million yuan [1]

Summary of Key Points from Conference Call Records Industry Overview - The conference call primarily discusses developments in the **AI**, **光通信 (Optical Communication)**, and **算力基建 (Computing Infrastructure)** industries, highlighting both domestic and international trends and opportunities [1][2][3][4][5][6][7][8][9][10]. Core Insights and Arguments 1. **AI Infrastructure Expansion**: Meta plans to launch a **1GW AI cluster** by 2026, indicating a strong commitment from major players in building large-scale AI infrastructure [1][4]. 2. **Chip Supply Dynamics**: NVIDIA is set to resume the supply of its **H20 chip** in China, which is expected to significantly impact domestic demand and potentially generate an additional **$15 billion** in revenue for NVIDIA [25][26]. 3. **Model Training Demand**: The demand for computing power remains robust due to frequent iterations of models like **Grok Four** and **GPT Five**, with innovations in **MOE** and **PD separation architectures** driving further advancements [5][6]. 4. **光通信 Industry Trends**: The optical communication sector is experiencing a shift from **800G to 1.6T** technology, with companies like **中际旭创** and **新易盛** poised to benefit from increased downstream demand [7]. 5. **Domestic Computing Infrastructure**: The domestic market shows promising investment opportunities in the **IDC sector**, with Huawei's introduction of the **384 super node** alleviating concerns over chip supply [8][9]. 6. **Market Sentiment Recovery**: Recent market concerns have largely dissipated, with a focus on the impact of overseas market growth on domestic specialized machinery [9][10]. 7. **Investment Opportunities**: Key companies in the IDC supply chain include **润泽科技**, **奥飞数据**, and **科华英维克**, with potential investments in both A-share and Hong Kong stocks like **万国数据** and **世纪互联** [11]. Additional Important Insights 1. **AI Demand in PCB Industry**: The PCB drilling needle industry is thriving due to AI demand, with **鼎泰高科** reporting a significant increase in orders and market share [20][21]. 2. **Emerging Technologies**: Innovations such as **Deepseek models**, **MOE architecture**, and **silicon photonics** are expected to drive future growth in computing capabilities [33]. 3. **Investment Strategy**: Investors are advised to focus on companies with strong growth potential in emerging technologies, as well as established firms like **阿里巴巴** and **腾讯** that are showing improvements in their business dynamics [36]. This summary encapsulates the key developments and insights from the conference call, providing a comprehensive overview of the current landscape in the AI, optical communication, and computing infrastructure sectors.

Digital Empowerment - The establishment of the first domestic 10,000-card computing power cluster in Qingyang in 2024, with a computing power scale exceeding 50,000 P, ranking among the top in the country in terms of growth rate, increment, and intelligent computing proportion [4] - Qingyang is driving computing power construction through multiple industries and scenarios, gathering artificial intelligence ecosystems and expanding "AI+" new industries and scenarios, fostering new productive forces [6] Open Leadership - In the first quarter, Tianjin's container throughput exceeded 5.71 million standard containers, setting a historical record, contributing significantly to the city's GDP growth of 5.8%, which is above the national average [10][11] - Tianjin Port has engaged with over 500 key enterprises in the Beijing-Tianjin-Hebei region and inland areas, completing nearly 100 contracts, enhancing the integration of domestic and foreign trade [10] Innovation Breakthrough - Jiangxi Lanwei Electronics Technology Co., Ltd. has successfully broken the foreign monopoly on insulation bonding wires through continuous R&D investment, achieving domestic substitution [17] - The company’s advancements in micro-level bonding wires are pivotal in the context of global chip competition, showcasing the importance of fine technology breakthroughs [17] Intelligent Manufacturing Upgrade - The precision of domestic CNC machine tools has been significantly improved, with Jiangxi Jiasite CNC Co., Ltd. achieving a full-process precision of 0.6 microns and a repeat positioning precision of 0.4 microns, reaching international leading levels [22] - The shift from reliance on imports to self-sufficiency in high-precision machine tools marks a significant advancement in China's high-end equipment industry [22] Overall Economic Development - The comprehensive layout of digital infrastructure, high-level openness, continuous breakthroughs in key technologies, and accelerated construction of a modern industrial system indicate that China's economy is steadily advancing on the path of high-quality development driven by innovation and openness [24]

Market Overview - The U.S. stock market showed positive momentum with all three major indices closing higher, indicating a supportive environment for the A-share market [1] - The Dow Jones increased by 0.62%, the S&P 500 rose by 0.58%, and the Nasdaq surged by 1.07%, with notable performances from tech giants like Tesla and Intel [1] Sector Performance - Quantum computing stocks, particularly QBTS, experienced a significant surge of 51%, marking the best single-day performance since May of the previous year, highlighting investor interest in disruptive technologies [3] - The military industry stocks have seen substantial gains, but the sustainability of this growth depends on actual order backing rather than mere market sentiment [3] - The technology sector is buoyed by Tesla's influence on the new energy vehicle supply chain and Intel's rise, suggesting a potential uptick in computing infrastructure investments [3] Trading Strategy - Investors are advised to monitor trading volume closely, as previous attempts to breach the 3400-point mark faltered at a transaction volume of 1.2 trillion, indicating a need for stronger support [3] - A target volume of 1.3 trillion is suggested for a more robust market condition, particularly if brokerage stocks respond positively to external market trends [3] - Caution is advised against chasing high openings; waiting for volume stabilization is recommended before making trades [4] Policy Impact - The new "National Nine Articles" policy has led to increased investment in high-dividend sectors, with companies showing strong cash flow and dividend rates above 5% being particularly attractive [3] - These companies are likened to traditional businesses that serve as stabilizing forces during market fluctuations [3]

Summary of Key Points from Conference Call Records Industry/Company Overview - **Xiaomi**: Launched the MiMo inference model with only 7 billion parameters, surpassing OpenAI's o1-mini and Alibaba's Qwen-32B-Preview, indicating a trend towards lightweight AI models for edge computing [1][8] - **North American Cloud Service Providers (CSPs)**: Major tech giants reported better-than-expected revenue and net profit despite macroeconomic uncertainties due to tariff policies [2] - **Pharmaceutical Industry**: Companies like Bidder Pharma are transitioning towards high-quality development, with increasing domestic demand for alternatives to international products [2] - **Automotive Supply Chain in Mexico**: Benefiting from tariff exemptions, companies are enhancing local production capabilities to mitigate trade risks [2] Core Insights and Arguments - **Xiaomi's AI Model**: The lightweight design of the MiMo model is expected to drive explosive demand for AI at the edge, with a consensus on the need for enhanced edge computing capabilities [1][9] - **CSP Financial Performance**: Despite expectations of weaker performance, CSPs demonstrated strong capital expenditure (Capex) reflecting robust demand for AI infrastructure [2] - **Pharmaceutical Market Dynamics**: Bidder Pharma's pricing strategy positions it competitively against international leaders, with projected net profits increasing significantly over the next few years [2] - **Automotive Supply Chain Strategy**: The establishment of production bases in Mexico is seen as a strategic move to strengthen cost advantages and localize supply chains [2] Additional Important Content - **Market Calendar Effects**: Historical analysis indicates that the A-share market typically performs better in May compared to April and June, with a rebound expected in July following a dip in June [3][5][7] - **Sector Performance**: In the context of A-share performance, sectors such as food and beverage, pharmaceuticals, electronics, and computers have shown positive returns in May [7] - **AI Hardware Trends**: The trend towards edge AI models is supported by advancements in System on Chip (SoC) technology, which is expected to significantly enhance AI processing capabilities [9][10] Conclusion The records highlight significant developments in the AI, pharmaceutical, and automotive sectors, with companies adapting to market demands and leveraging technological advancements to enhance their competitive positions. The analysis of market trends and sector performance provides valuable insights for potential investment opportunities.