Incident: Recently, Shenqi Digital Co., Ltd., a subsidiary of Shenzhou Holdings, successfully signed a contract for the Changchun Computing Power Center Phase II software and service project. The company will deploy and build multiple vertical industry models at the Changchun Computing Power Center to empower the digital transformation and upgrading of core industries in the Changchun region with “data+intelligence” soft power products.
The contract amount for this software project has reached the level of 10 million, which will further promote the integration of computing power resources with industry scenarios. The second phase of the Changchun Computing Power Center software and service project covers many core products such as the Smart Digital Transportation Big Data Model Platform, the Smart Digital Industry Economic Map Model Platform, the Smart Water Conservancy Model Platform, the Water Conservancy Knowledge Base Construction Tool, and the Algorithmic Model Operation Support Platform. The establishment of these platforms will further promote effective integration and in-depth exploration of data resources, and provide accurate decision-making support for urban management and industrial development. Shenzhou Holdings successfully delivered the first phase of the Changchun Computing Power Center project last year, with an amount exceeding 200 million yuan. The project successfully filled the gap in the computing power infrastructure in Changchun City. In the future, locking the deployment and implementation of the company's second-phase project industry model will further promote the integration of computing power resources with industry scenarios, achieve “out-of-the-box use” of computing power, promote the efficient use of computing power resources, fully release the value of computing power, empower innovation in various industries, and accelerate the high-quality development of digital intelligence in Changchun City and the entire region.
The construction of domestic AI computing power centers has entered an accelerated stage, promoting the implementation of the national digital transformation strategy.
Computing power is a new type of productivity in the digital age, and the increase in demand for computing power often leads to an increase in new quality productivity. On February 19 of this year, the State Assets Administration Commission held a special AI promotion conference for central enterprises, calling for speeding up the construction of intelligent computing centers and AI+ projects. Accelerating the development of artificial intelligence is an inevitable requirement for state-owned central enterprises to fulfill their functional mission and promote high-quality development. At present, the country has made a clear plan for computing power, reaching 2,800 EP by 2028. Provinces have also responded positively to the computing power plan; Beijing, Shanghai, Guangdong, Gansu and other provinces have taken the lead in issuing development plans covering 2025.
We believe that as demand and policies continue to advance, local governments and the three major operators will comprehensively promote the construction of intelligent computing centers. As central and state-owned enterprises take over the construction of computing power infrastructure, domestic computing power infrastructure will accelerate markedly, and company-related businesses will also gain more room for growth.
With the in-depth layout of the “data element ×” and “artificial intelligence +” track, the company's performance can be expected in the future. In recent years, in addition to gaining results in AI application-related layouts, the company has made achievements in smart city public data operations, intelligent computing center construction, and one-stop services for overseas supply chains, and continues to drive steady growth in the company's performance. The company's revenue for 2024-2026 is estimated to be 199.83/216.01/22,929 billion yuan, respectively, and net profit to mother is 398/546/605 million yuan, respectively. Covered for the first time, giving a “gain” rating
Risk warning: macroeconomic development falls short of expectations, profit forecasts fall short of expectations, AI industry development falls short of expectations