Core Viewpoint - The announcement of the 2025 National Green Computing Power Facility List aims to promote the green and low-carbon development of computing power facilities in accordance with the national energy-saving and carbon reduction action plan [1]. Group 1: Industrial Sector - The list includes various computing power facilities in the industrial sector, such as Hongsheng Copper Industry Data Center [2]. - The facilities are part of a broader initiative to enhance energy efficiency and reduce carbon emissions in the industrial domain [1]. Group 2: Information and Communication Sector - Numerous data centers from China Telecom and China Mobile are featured, including the China Telecom Hangzhou Smart Computing Center and the China Mobile Yangtze River Delta (Jinhua) Data Center [2][3]. - These facilities are expected to contribute significantly to the digital infrastructure and support the transition to a low-carbon economy [1]. Group 3: Energy Sector - The list highlights energy-related computing power facilities, such as the State Power Investment Corporation Guian Data Center and the Southern Power Grid Green Smart Data Center [3][4]. - These facilities are crucial for integrating renewable energy sources and enhancing the overall efficiency of energy management [1]. Group 4: Internet Sector - The Internet sector is represented by facilities like the Karamay Carbon and Water Cooling Data Center and the New Silk Road Cloud Computing Center [4]. - These centers are designed to support large-scale data processing and storage while adhering to green standards [1]. Group 5: Financial Sector - Financial institutions are also included, with data centers such as the Bank of Communications Data Center and the People's Insurance Group Northern Information Center [4]. - This inclusion reflects the financial sector's commitment to sustainability and efficient data management practices [1]. Group 6: Public Institutions - The list features data centers from public institutions, including the Beijing Urban Sub-center Administrative Office Data Center [4]. - These facilities are essential for improving public service delivery and enhancing data management capabilities in government operations [1].

Core Viewpoint - The company, Hongbo Co., Ltd. (002229), has identified artificial intelligence as a strategic development direction for the future, aiming to position itself as a comprehensive service provider in the field of general artificial intelligence [1] Group 1 - The company plans to focus on building a smart computing center, providing computing power, and developing cloud infrastructure to accumulate resources and expand its customer base [1] - The investment in artificial intelligence-related businesses is expected to create new growth points for the company [1] - The strategic focus on artificial intelligence is intended to drive the company's breakthrough development [1]

Group 1 - The company focuses on the development of new infrastructure business [2] - The company has participated in several key projects, including the Ningxia Zhongwei Cloud Data Center, Xinjiang Kerong Cloud Intelligent Computing Center, and the National Cybersecurity Base Intelligent Computing Center [2]

Core Viewpoint - Huasheng Co., Ltd. plans to acquire 97.40% of Shenzhen Yixin Technology Co., Ltd. for a total consideration of 662 million yuan, marking its entry into the intelligent computing center sector and transitioning from traditional manufacturing to digital infrastructure [1][2]. Group 1: Acquisition Details - The acquisition involves issuing shares and cash payments to 25 counterparties, including Bai Bentong and Zhang Limin [1]. - Huasheng will also issue shares to its controlling shareholder, Hunan Xingxiang Investment Holding Group Co., Ltd., to raise matching funds [1]. Group 2: Industry Context - The intelligent computing center is becoming a crucial infrastructure for next-generation AI applications, including model training, intelligent reasoning, and high-performance computing [1]. - The demand for AI model training is driving the growth of intelligent computing centers, which are recognized as a key support for national strategic emerging industries [1]. Group 3: Yixin Technology's Strengths - Yixin Technology has over 20 years of experience in the IDC field and has successfully transitioned to intelligent computing centers, showcasing strong technological advantages in green energy-saving technology and operational maintenance [2]. - The company has established a mature and stable profit model, with its products and solutions widely adopted by major clients such as China Mobile, China Telecom, and China Unicom [2]. Group 4: Strategic Goals - Post-acquisition, Huasheng aims to leverage Yixin Technology's expertise to expand into the new information infrastructure and intelligent computing service industry, aligning with national strategic support [2]. - The company plans to utilize its geographical advantage in central Hunan to serve high-demand scenarios in low-altitude economy, AI, industrial internet, and fintech, thereby enhancing its value creation capabilities and industry influence [2].

Core Viewpoint - The company has not yet applied its precision manufacturing technologies, such as CNC machining centers, to computing power server hardware, including GPU cooling modules, due to its core business model focusing on "computing power leasing and intelligent computing center operations" rather than server manufacturing [1] Group 1: Business Model and Operations - The company's computing power business relies on centralized procurement of finished hardware rather than engaging in server production [1] - Research and development expenses are primarily focused on technological iteration and product innovation within the main business [1] Group 2: Military and Computing Power Sectors - In the military sector, investments are directed towards optimizing process programming for military support products, upgrading high-precision machining technologies, and developing specialized products [1] - An example of a specialized product is the quick-release clamp used in engine fuel lines, which facilitates domestic substitution [1] - In the computing power sector, efforts are concentrated on optimizing core server programming for intelligent computing centers, upgrading computing power scheduling algorithms, and developing software platforms aimed at improving operational efficiency and expanding application scenarios in the civilian sector [1]

Report Industry Investment Rating No relevant content provided. Core Views of the Report - The report focuses on the empowerment of intelligent computing centers, elaborating on the latest development trends around demand scenarios, key capabilities, and implementation ecosystems to further release the empowerment effect of intelligent computing centers and promote the deep integration of AI and the real economy [5]. - Facing the "14th Five-Year Plan", the artificial intelligence computing infrastructure has three important development trends: clear demand scenarios for optimal resource allocation, focused key capabilities for improved service levels, and aggregated implementation ecosystems for accelerated value release [24]. - In the future, the demand scenarios of artificial intelligence computing infrastructure will become more diverse and complex, key capabilities will be more intensive and soft, and the implementation ecosystem will be more aggregated and collaborative [75]. Summary by Directory 1. Evolution Trend of Artificial Intelligence Computing Infrastructure - **Technological Innovation: Upgrading of Tri - in - One Intelligent Computing Facilities**: China's artificial intelligence computing infrastructure is evolving towards large - scale clustering, green and low - carbon development, and high - speed interconnection. For example, Huawei's Ascend 384 super - node and ZTE's Nebula intelligent computing super - node achieve high - speed interconnection of computing cards; the liquid - cooling technology in the China Mobile data center reduces energy consumption [12][13][14]. - **Layout Optimization: Coordinated Development of National Intelligent Computing Facilities**: Policy guidance promotes the high - quality development of intelligent computing centers. The scale of intelligent computing centers continues to grow, and regional intelligent computing is deployed in a more coordinated and intensive manner. For instance, as of June 2025, the total rack scale of computing centers in use in China reaches 1.085 million standard racks, and the intelligent computing scale is 788 EFlops [16][17]. - **Industrial Upgrade: Collaborative Development of the Entire Intelligent Computing Industry Chain**: The intelligent computing industry is growing rapidly, with upstream hardware achieving domestic breakthroughs, mid - stream facilities being built on a large scale, and downstream applications accelerating penetration into various industries. Three major operators and AI giants are actively deploying intelligent computing [18][19][20]. 2. Important Trends in the Empowerment of Artificial Intelligence Computing Infrastructure - **Clearer Demand Scenarios for Optimal Allocation of Intelligent Computing Resources**: The positioning of demand scenarios is becoming clearer, promoting the precise empowerment of intelligent computing centers. The construction of artificial intelligence computing infrastructure is shifting from "building well" to "using well", and the rights and responsibilities of all parties are becoming more explicit [25]. - **Focused Key Capabilities for Improved Intelligent Computing Service Levels**: The supply of key capabilities is being strengthened. In terms of basic support, innovation services, and operation guarantee, the service capabilities of intelligent computing centers are continuously improving, promoting the value - closed - loop and long - term development of intelligent computing centers [26][27]. - **Aggregated Implementation Ecosystems for Accelerated Release of Intelligent Computing Value**: The ecological system is being integrated, and the collaborative mechanism is being improved. The construction of artificial intelligence computing infrastructure is evolving towards an integrated solution of "computing power + algorithm + data + scenario + service", and a sustainable and high - value partner network is being initially established [28]. 3. Demand Scenarios of Artificial Intelligence Computing Infrastructure - **Large - Model Pre - training Scenario**: Training large - scale pre - trained models (with over a thousand billion parameters) requires high - end ten - thousand - card cluster centers with E - level computing capabilities. Domestic operators and AI manufacturers are actively building such clusters [30][31][33]. - **Large - Model Fine - tuning Scenario**: Small - scale intelligent computing centers (with a computing capacity of 100 PFlops) can effectively support the fine - tuning of industry models. Most domestic intelligent computing centers are focusing on this scenario [34][36]. - **Large - Model Inference Scenario**: Cloud - side inference dominates the current inference demand scenarios. Different inference application scenarios have different requirements for inference models and intelligent computing centers, and specialized intelligent computing centers for inference are emerging [37][39][40]. 4. Key Capabilities of Artificial Intelligence Computing Infrastructure - **Basic Support Capabilities**: Training scenarios focus on cluster computing power effectiveness, stability, single - cluster computing power scale, and compatibility with mainstream computing frameworks. Inference scenarios focus on throughput, latency, and the heterogeneity of intelligent computing cards [44][45][46]. - **Innovative Service Capabilities**: Training scenarios emphasize high - efficiency cloud services, efficient model migration, and diverse data governance. Inference scenarios focus on the pooling and scheduling capabilities of intelligent computing resources and efficient model migration and deployment [50][51][52]. - **Operation Guarantee Capabilities**: Both training and inference scenarios focus on the flexibility of computing power scheduling, the cost - effectiveness of computing power leasing, and security and compliance. Training scenarios also pay attention to the richness of cooperative partners [55][56][57]. 5. Implementation Ecosystem of Artificial Intelligence Computing Infrastructure - **Collaboration between Intelligent Computing and Data Elements**: Collaborating closely with high - value data is the core for intelligent computing centers to improve basic support capabilities. For example, the Wenzhou Artificial Intelligence Computing Center and the Guian New Area are promoting the transformation of high - quality data resources into intelligent computing ecological capabilities [60][61]. - **Collaboration between Intelligent Computing and Algorithm Models**: Collaborating with high - level algorithm models is the key for intelligent computing centers to improve innovative service capabilities. For example, the Chongqing Artificial Intelligence Innovation Center and the Wuling Mountain (Lichuan) Artificial Intelligence Computing Center are promoting the development and application of industry - specific models [63][64][65]. - **Collaboration between Intelligent Computing and Cross - domain Intelligent Computing**: Promoting cross - domain intelligent computing interconnection and collaboration is an important exploration for the improvement of intelligent computing center operation capabilities. Operators' intelligent computing centers have achieved practical breakthroughs in long - distance interconnection [66][67]. - **Collaboration between Intelligent Computing and Industry Scenarios**: Collaborating closely with industry scenarios is the core driving force for the continuous evolution and upgrading of the intelligent computing center ecosystem. The Chang'an Automobile Intelligent Computing Center and the Yunnan Communications Investment Intelligent Computing Center are typical examples of in - depth collaboration [68][70]. - **Collaboration between Intelligent Computing and Regional Industries**: Collaborating with regional industries is an important guarantee for intelligent computing centers to achieve multi - dimensional and full - scenario empowerment. Intelligent computing centers in Ningbo, Wuhan, and Dalian are promoting regional industrial development [71][73]. 6. Development Outlook - **More Diverse and Complex Demand Scenarios**: The demand scenarios of artificial intelligence computing infrastructure will become more diverse, complex, and deeply integrated. There will be higher requirements for computing power, storage, industry integration, and cloud - edge - end collaboration. Different stakeholders should play different roles [76][77]. - **More Intensive and Soft Key Capabilities**: The artificial intelligence computing infrastructure is shifting from extensive hardware stacking to refined service improvement, including large - scale clustering, resource pooling, open - source development, and service - orientation. Industry organizations and operators should take corresponding measures [78][79][80]. - **More Aggregated and Collaborative Implementation Ecosystems**: The implementation of artificial intelligence computing infrastructure empowerment depends on a more aggregated and collaborative ecosystem, including multi - party participation, joint innovation, and industrial cultivation. Government departments and operators should play their roles [81][82][83].

Core Insights - Shandong Province's AI core industry revenue is expected to exceed 120 billion yuan by 2025, accounting for approximately 10% of the national total, with a full-stack AI industry chain being developed [1] - The acceleration of AI applications in China is noted, with a focus on the commercialization and scaling of AI products [2] Group 1: Industry Development - Shandong has implemented the "Shandong Province Artificial Intelligence Industry High-Quality Development Action Plan" and has been recognized as a key province for AI innovation by the Ministry of Industry and Information Technology [1] - The AI sector is anticipated to drive growth in various industries, presenting new investment opportunities [1] Group 2: Investment Recommendations - Companies should focus on leading enterprises in AI terminals, AI agents, and potential killer AI applications as the industry accelerates [2] - Attention should be given to the application demands and innovative products in key sectors such as industry, agriculture, education, and new consumption [2] - The demand for computing power on the edge and inference side is expected to rise, emphasizing the need for infrastructure development in AI computing capabilities [2] - There is an urgent need to optimize the AI governance system, highlighting companies involved in safety methods and governance [2]

Core Insights - The article discusses the upcoming GAIR 2025 conference, focusing on the evolution of AI technology and the strategic development of domestic AI chips in China, aiming to explore the future of the intelligent industry both locally and globally [1][3]. Event Overview - The GAIR 2025 conference will take place on December 12-13, 2025, in Shenzhen, featuring three thematic forums that will cover topics such as large models, embodied intelligence, computational power transformation, and world models [2][24]. - The conference aims to gather global scholars, entrepreneurs, and investors to share insights and advancements in AI technology [2][3]. Key Themes - The conference will focus on two main themes: 1. "Who is the next Cambrian?" which will analyze the potential leaders in the AI chip sector and their paths to commercialization [5][6]. 2. "Who will define China's intelligent computing future?" which will explore the evolution of intelligent computing systems and their integration into various industries [10][11]. Morning Session Highlights - The morning session will feature discussions on the challenges and opportunities facing domestic AI chips, including ecosystem construction and the growth logic of startups [7][8]. - Notable speakers include experts from leading universities and companies, providing insights into the future of AI chip technology [9]. Afternoon Session Highlights - The afternoon session will delve into the operational sustainability, architectural extensibility, and commercial viability of intelligent computing systems [11][12]. - Key discussions will focus on how to build a robust computational infrastructure and the transition from construction to commercial closure [12][18]. Conclusion - GAIR 2025 aims to be a platform for deep dialogue and collaboration among industry leaders, fostering innovation and the integration of technology, industry, and capital to drive the growth of the intelligent era [19][20].

Core Viewpoint - Fujian Province has issued measures to orderly promote the development of computing power infrastructure, aiming to enhance the scale and efficiency of public computing resources by 2027 [1] Group 1: Development Goals - By the end of 2027, the public computing power scale in Fujian Province is expected to exceed 12 EFLOPS [1] - The province plans to construct a number of medium-sized computing power infrastructure projects based on public computing power application demand and resource utilization [1] Group 2: Efficiency and Sustainability - New and expanded data centers are required to achieve a Power Usage Effectiveness (PUE) of less than 1.25 [1] - The overall rack utilization rate of data centers should not be less than 65% [1] - The initiative aims to create at least 20 computing power application cases and steadily increase the proportion of green energy used in data centers [1]

Group 1 - The core industry of Dongying is petrochemicals, and the emergence of large models with rich professional knowledge is enhancing the intelligence and confidence in "black gold" development [1] - The oil identification model developed by Shengruan Technology has been included in the provincial "model coupon" award list, helping more companies build oil and gas-specific large models through a technical system of "pre-trained large model + industry knowledge base + intelligent application" [1] - The CCUS (Carbon Capture, Utilization, and Storage) industry in Dongying is leveraging artificial intelligence to accelerate the development of new efficient capture materials, reducing traditional selection cycles from years to days [1] Group 2 - As of September, Shandong has evaluated 249 large model products through third-party professional institutions, achieving a business revenue of 5.026 billion yuan in the large model industry, a year-on-year increase of 102.25% [2][6] - The transition from "manufacturing" to "intelligent manufacturing" is supported by the rapid deployment of intelligent computing centers, which facilitate data circulation and enhance the accessibility of artificial intelligence [2] - The demand for intelligent computing centers is increasing as local governments aim to accelerate construction, transforming traditional buildings into intelligent computing centers to meet challenges such as rapid delivery and flexible expansion [2] Group 3 - The construction of intelligent computing centers is being driven by prefabrication, modularization, and greening, allowing for a 90% prefabrication rate and flexible combinations of modular functional boxes [3] - The Dongying computing center is built on cloud computing technology, providing a unified platform for general, intelligent, and high-performance computing to meet various usage scenarios [3] - A joint venture between Inspur and Shandong Tianrui Heavy Industry aims to innovate and optimize technology, with related achievements recognized as "internationally advanced" by Shandong Province [3] Group 4 - The Inspur intelligent computing center project covers eight major hub nodes in the country, with a cumulative computing power scale of approximately 10 EFLOPS [4] - Shandong has established 22 provincial intelligent computing cloud service centers with over 100 PFLOPS of computing power, contributing to a total computing power scale exceeding 20.4 EFLOPS in the province [4] - The intelligent computing industry in Shandong, including AI servers and intelligent computing cloud services, has surpassed 70 billion yuan in scale from January to September [4][5] Group 5 - The time required for research and development tasks has been significantly reduced, accelerating the launch of large model products across various application scenarios [5] - Shandong is focusing on vertical large model tracks, enhancing the comprehensive supply capacity of infrastructure, and deepening the application of artificial intelligence, with related industries accounting for about 9% of the national total [5][6] - The provincial government allocates over 14 billion yuan annually for major research and development projects, implementing more than 360 initiatives [6][7]