Core Viewpoint - Industrial Fulian's stock experienced a significant drop of 7.8% on November 24, reaching a low of 54.6 CNY per share, due to rumors regarding a downward adjustment of its Q4 performance targets and changes in its major clients' business models [2][3] Group 1: Company Response - In response to the rumors, Industrial Fulian issued a clarification stating that the claims were untrue and that its Q4 operations, including the shipment of products like GB200 and GB300, were proceeding as planned with strong customer demand [3] - The company emphasized that it had not received any requests from major clients to adjust business models, lower shares, or prices, and that its profit targets for Q4 remained unchanged [3] Group 2: Business Operations and Partnerships - Industrial Fulian is a key partner for NVIDIA in AI server production, handling the entire manufacturing chain from GPU modules to complete systems, and has started mass production of NVIDIA's H100 and H800 high-performance AI servers in 2023 [3] - The company is also involved in the research and production of cabinet-level products like GB200 and GB300, with ongoing collaborative development of multiple new products that enhance computing density, power efficiency, and system reliability [5] Group 3: Financial Performance - Industrial Fulian reported strong financial results, with a revenue of 603.93 billion CNY for the first three quarters of the year, marking a 38.4% year-on-year increase, and a net profit of 22.49 billion CNY, up 48.52% [6] - For Q3 alone, the company achieved a revenue of 243.17 billion CNY, a 42.81% increase year-on-year, and a net profit of 10.37 billion CNY, reflecting a 62.04% growth [6] Group 4: Market Outlook - The global demand for AI computing power is robust, with TrendForce projecting a 65% annual growth rate in capital expenditures for the eight major cloud service providers by 2025, which is expected to exceed 600 billion USD by 2026 [6]