Group 1: Report Overview - The report is about a research on Zhejiang University Network New Co., Ltd. in the Internet service industry on September 17, 2025 [1][2][17] Group 2: Core Views - The company will continue to deepen the "AI DRIVEN" development strategy, build and improve the full - chain AI large - model service system, and accelerate the digital transformation of various industries [24] - The company will use IT infrastructure resources for high - quality and inclusive computing power matching, support mainstream model access for一站式 services, and participate in data platform construction for data asset value mining [24] - The company will drive with digital technologies, provide a full - stack empowerment platform for government and enterprise digital transformation, and expand the industry ecosystem [25] Group 3: Summary by Directory 01. Research Basic Situation - The research object is Zhejiang University Network New Co., Ltd., belonging to the Internet service industry. The reception time is September 17, 2025. The reception staff includes the chairman, vice - presidents, CFO, board secretary, and independent director [17] 02. Detailed Research Institutions - The reception objects include investors and others [20] 03. Research Institution Proportion - No relevant content provided 04. Main Content Data - The company's future business development focuses on building an AI large - model service system in three aspects: computing power service, model service, and data service [24] - There has been no large - scale block trading of more than 5% shareholders recently, and all equity changes of such shareholders have been disclosed as required [25] - In the first half of 2025, the company's intelligent computing cloud service achieved an operating income of 149.2423 million yuan. The transformation of the intelligent computing business takes time, and the overall business is in a loss state [26]

Group 1 - Zhejiang University Netnew Technology Co., Ltd. announced that its wholly-owned subsidiary won a bid for the intelligent engineering project of the Zhejiang Provincial Public Health Clinical Center, with a contract value of 94.2712 million yuan [1] - The project includes multiple subsystems such as comprehensive wiring, computer networks, security monitoring, energy management, and information release, indicating a high level of integration and extensive coverage [1] - The project is seen as a significant step in the company's transformation towards "infrastructure digitization," showcasing a closed-loop practice of "computing power - model - data" [1] Group 2 - The company is transitioning from a traditional system integrator to a digital platform enterprise, focusing on integrating cutting-edge technologies such as AI, privacy computing, blockchain, and big data [2] - The company has established a comprehensive AI model service system, integrating computing power resources and providing solutions for computing and network infrastructure [2] - The core competitiveness of building a digital platform requires investment in key technologies and addressing challenges related to computing power deployment and user acceptance [2] Group 3 - The company is exploring the development of a large model platform, launching the "Big Teacher Model" development platform based on its computing resources [3] - The "Zhejiang Teacher" intelligent platform for universities has been officially launched, enhancing the platform's capabilities and establishing a foundation for nationwide promotion in the education sector [3] - The company is positioned to become a provincial-level computing power scheduling platform operator, with potential applications in urban data asset management and public service intelligence [3]

Core Insights - The company reported a revenue of 3.3 billion yuan for 2024, a year-on-year decrease of 7.89%, and a net loss attributable to shareholders of 63.54 million yuan, with a net profit excluding non-recurring items of -97.01 million yuan [1] - The losses are attributed to increased investments in AIDC transformation, the nascent stage of the digital cloud service business, reduced IT spending from government and industry clients, impairment provisions for certain assets, and decreased fair value changes [1] - The company aims to optimize its business structure and accelerate intelligent upgrades while focusing on the integration of cutting-edge technologies to build an AI industry ecosystem for the future [1] Group 1: AIDC Transformation and AI Product Expansion - In 2024, the company is intensifying its strategic shift from IDC to AIDC, focusing on artificial intelligence and intelligent computing cloud, and accelerating the deployment of computing resources [2] - The company has established an integrated service platform for large model development, AI education, and AIGC creation, leveraging its "West Lake Light" computing foundation [2] - New AI products targeting digital government and various industries, such as AI financial traders and AI digital personnel, are set to be launched to expand the application of artificial intelligence [2] Group 2: Intelligent Driving Strategy and Service System Enhancement - The company plans to deepen its "AI DRIVEN" strategy, enhancing the "computing-power-model-data" service system around the "Wangxin Cloud Engine Insphere AI" foundation [3] - It is developing an efficient and inclusive computing supply system through a nationwide network of intelligent computing centers and scheduling platforms [3] - The platform will support various mainstream models, providing services such as model training and multi-modal generation across multiple scenarios, while also participating in the construction of data open platforms to unlock data asset value [3]