证券日报网讯1月13日，品高股份在互动平台回答投资者提问时表示，公司以"云数基座平台"为核心战 略，聚焦"垂直领域人工智能+国产算力生态"双轮驱动，逐步构建起覆盖全栈云服务、云边端协同基 座、国产化算力生态的多元化业务体系；而深圳江原科技有限公司是一家专注于打造只在境内量产大算 力训练推理芯片、深耕异构计算场景、研发销售通用算力芯片及配套解决方案的科技企业。 ...

证券日报网讯1月13日，品高股份在互动平台回答投资者提问时表示，公司以"云数基座平台"为核心战 略，聚焦"垂直领域人工智能+国产算力生态"双轮驱动，逐步构建起覆盖全栈云服务、云边端协同基 座、国产化算力生态的多元化业务体系，本次投资深圳江原科技有限公司(以下简称"江原科技")符合公 司的战略发展方向。公司于2024年首次投资江原科技后，与江原科技在算子优化、软件生态上协同开 发，并于2025年7月联合发布了"品原AI一体机"系列产品。江原科技其芯片性能和大算力训练推理芯片 的境内量产能力已得到验证，发展情况良好。本次投资，公司不仅拟增资4亿元成为江原科技第二大股 东，公司控股股东北京市尚高企业管理有限公司还向江原科技实控人李瑛女士控制的主体转让公司12% 的股份，进而实现公司与江原科技业务的深层次合作。 ...

Core Viewpoint - On November 21, 2023, Pingao Co., a domestic software company listed on the Sci-Tech Innovation Board in Guangzhou, announced significant changes including the resignation of its general manager, an investment of 400 million yuan in Jiangyuan Technology, and a 12% equity transfer, leading to a 20% stock price surge and a total market value of 5.542 billion yuan [1][3][5]. Group 1: Management Changes - The current general manager, Huang Hai, resigned to focus on his role as chairman and to enhance the company's long-term strategic planning and governance [3][4]. - Li Miaomiao, who joined the company in July 2023, has been appointed as the new general manager [3][4]. Group 2: Investment in Jiangyuan Technology - Pingao Co. plans to invest 400 million yuan in Jiangyuan Technology, acquiring a 15.4182% stake, making it the second-largest shareholder [5][6]. - The investment is part of a broader strategy to establish a deep strategic partnership with Jiangyuan Technology, which focuses on domestic AI chip development [6][9]. Group 3: Financial Overview of Jiangyuan Technology - Jiangyuan Technology, established in November 2022, has not generated revenue in 2022 and 2023, with projected revenues of 30 million yuan in 2024 and 35.6165 million yuan from January to October 2025 [9]. - The company reported a net loss of 146.6328 million yuan for 2024 and 120.6158 million yuan for the first ten months of 2025 [9]. Group 4: Strategic Collaboration - The partnership between Pingao Co. and Jiangyuan Technology aims to develop a unified computing architecture for domestic AI chips, promoting the localization of software and hardware ecosystems in the AI sector [9]. - Both companies have previously launched the "Pinyuan AI All-in-One Machine" series in July 2025 as part of their collaboration [9].

Core Insights - The company reported a revenue of 165 million yuan for the first half of 2025, representing a year-on-year growth of 7.21%, while the net profit loss narrowed by 9.25 million yuan, an increase of 36.91%, indicating significant improvement in profitability [2] - The demand for intelligent computing is experiencing explosive growth, with China's intelligent computing scale expected to grow by over 40% this year, driven by applications in various fields such as generative models, autonomous driving, and smart cities [2] - The company is strategically focused on building a comprehensive domestic AI computing infrastructure through deep collaboration with Jiangyuan Technology in the AI chip sector, aiming for breakthroughs in technology through a "hardware + software" integration approach [3] Company Developments - The company announced the upcoming launch of the new generation of its AI integrated machine (PYD20 series), which features the Jiangyuan D20 board card with a single card computing power of 320 TOPS and a total memory capacity of 4 terabytes, doubling the computing power and quadrupling the memory capacity compared to the previous PYD10 model [3][4] - The PYD20 series is the first domestically produced AI inference product with a dual-chip architecture, achieving full-stack domestic adaptation from CPU chips to operating systems, supporting localized deployment for enterprise-level AI applications [4] - The company has also made strategic investments in domestic chip manufacturers to enhance its layout in domestic inference chips and integrated sensing chips, while collaborating with universities to establish joint research centers for model optimization and chip technology [4] Future Outlook - The company launched the Bingo AIInfra intelligent computing scheduling platform, designed for enterprises, which offers advanced GPU resource management capabilities to ensure efficient support for AI computing tasks under varying loads [5][6] - Looking ahead, the company aims to continue its core strategy centered on the "cloud data foundation platform," focusing on a dual-driven approach of "vertical field AI + domestic computing ecology" to build a diversified business system covering full-stack cloud services and domestic computing ecosystems [6]