On June 20th, Gelonhui reported that Yuntu Li Fei (688343.SH) stated during a recent survey of specific targets that it achieved revenue of 98.4485 million yuan in the first quarter of 2024, mainly from the growth of AI operations and digital cities. With the accelerating development of artificial intelligence technology, various applications based on large models are rapidly emerging, leading to a rapid increase in computing power demand; at the same time, reasoning applications are gradually migrating to the edge and end sides, and AI reasoning chips and standardized hardware pre-installed with large models will usher in major development opportunities. Based on the above trend of technological evolution and industrial patterns, combined with its own core technical advantages, the company gradually transformed from solution to operation and standardized hardware from 2023, and re-divided its business sectors into "Industry Solutions", "AI Operations" and "AI Hardware Products". Currently, the company has landed a super large-scale heterogeneous high-performance computing cluster, providing computing support to all kinds of large-model application companies; in March 2024, the company launched the "DeepMind" AI model box for small and medium-sized enterprise customers, and in the same month, it announced the acquisition of equity of Shenzhen Qiancheng Technology Co., Ltd. and the launch of new business, and completed the first phase of delivery in April 2024. Currently, the company holds 51% equity of Shenzhen Qiancheng Technology Co., Ltd., and through collaboration with Qiancheng Technology, it will expand new business of intelligent wearable devices for the consumer sector. In the future, the above business sectors will strongly support the company's revenue growth.