Workflow
禾盛新材20250727
HSSMHSSM(SZ:002290)2025-07-28 01:42

Summary of Conference Call Records Company and Industry Overview - The conference call primarily discusses Shanghai Yizhi Electronics and the domestic computing power industry in China, particularly focusing on AI CPU chip development and applications in various sectors such as agriculture, education, and healthcare [2][4][10]. Key Points and Arguments 1. Market Interest and Trends: There is a noticeable increase in demand for domestic computing power in 2025, particularly after the launch of Deepseek, which has significantly boosted the understanding and application of large models in China. The initial excitement around integrated machines and inference clusters has stabilized, leading to a focus on vertical applications [3][10]. 2. Product Development: Shanghai Yizhi Electronics has developed and mass-produced three AI CPU chips, with two already in the market and a third soon to be launched. These chips are designed to run AI models directly and are compatible with both domestic and international GPU manufacturers [4][6]. 3. Collaborations and Orders: The company has secured significant orders from major telecom operators, including China Telecom, which purchased 2,600 servers and 5,200 processors, totaling nearly 300 million yuan. Additionally, Yizhi Electronics is testing products with China Mobile and supplying directly to Unicom [5][6]. 4. Policy Support: National policies are expected to favor the use of domestic computing power, which benefits Yizhi Electronics. The company’s chips can adapt to various market needs, enhancing their competitive edge [6][12]. 5. Agricultural Automation: A collaboration with Tsinghua University aims to apply AI computing power in agricultural automation, focusing on tasks like automated plowing, sowing, and harvesting, primarily using domestic chips to reduce reliance on NVIDIA products [8][10]. 6. Progress in Internet Computing Clusters: Domestic companies are making significant strides in internet computing clusters, with examples like Huawei's 384-node cluster and the Shanghai Cube project demonstrating effective system integration to catch up with NVIDIA [9][10]. 7. Vertical Application Success: Domestic computing power has seen substantial usage in vertical fields such as industry, agriculture, education, and healthcare, where Chinese companies are leading the way [10][12]. 8. General Computing Power Trends: General-purpose computing power in the internet sector is still catching up, with companies leveraging system-level strategies to enhance competitiveness. Major orders from companies like ByteDance are driving product improvements [11][12]. 9. Growing Demand in Specific Industries: The fastest-growing sectors for domestic CPU and GPU demand include telecommunications, finance, and oil, with policies in place to support domestic computing solutions [13][14]. 10. Changing Attitudes Towards Domestic Chips: Internet companies are increasingly testing domestic chips, indicating a shift in attitude as AI technology advances. This trend is expected to accelerate as more companies adopt these technologies [14][19]. 11. Performance of Domestic Brands: Domestic brands in the inference chip market are showing an upward trend, with more brands gaining significant market presence [20][21]. 12. Future Development Goals: Yizhi Electronics aims to position itself as a leader in the semiconductor cycle, focusing on niche markets and striving for leadership in the general AI field as model capacities and user numbers grow [22]. Additional Important Insights - The demand for inference technology is expanding, with applications in various fields, including search engines and educational tools, indicating a shift towards a results-based payment model rather than traditional methods [18][19]. - The competitive advantage of Chinese companies in edge computing products is notable, particularly as these markets are primarily located within China, unlike the Gulf and U.S. markets [16][17].