Precise(SZ:300442)2025-09-01 01:54Group 1: Industry and Market Positioning - The "Artificial Intelligence +" initiative is expected to have a significant, positive, and long-term impact on the AI industry, following the "Internet +" initiative from 2015 [4] - China is the world's second-largest economy, with a computing power scale ranking second globally and the highest number of domestic models [4] - The demand for AI industry chain components, including chips and servers, has doubled, indicating a robust market [5] Group 2: Business Progress - In the first half of 2025, the company delivered a record 220MW of computing power centers, with significant orders secured for the second half of the year [6][9] - The company has increased its energy resource reserves by approximately 30% compared to the end of 2024 [6] - The deployment of liquid cooling technology has accelerated, with the company achieving significant milestones in this area [6][14] Group 3: Financial Performance - In the first half of 2025, the company achieved a revenue of CNY 24.96 billion, a year-on-year increase of 15.31% [8] - The net profit attributable to shareholders was CNY 8.82 billion, with a quarter-on-quarter growth of 5.06% [8] - The company has maintained a stable cash dividend of approximately CNY 9 billion annually since 2022, with an additional CNY 5-10 billion in stock buybacks this year [8] Group 4: AIDC Business Highlights - The AIDC business has transitioned from a one-time revenue model to a stable, long-term service model, enhancing profitability and stability [7][11] - The revenue structure of AIDC has improved significantly, with a higher proportion of income coming from stable services [7] - The demand for AIDC services is increasing, particularly in non-first-tier cities due to stricter land and energy constraints in major urban areas [11] Group 5: Challenges and Strategic Initiatives - The infrastructure industry faces challenges related to high investment and operational stability, with a focus on overcoming the "tail too big to manage" issue [8] - The company is exploring mergers and acquisitions to enhance its capabilities and market position [14] - The company is actively developing new parks in regions like Hainan and Chongqing, with operational plans contingent on infrastructure readiness [15]