Fengzhushou Co. Ltd. A

Fengzhushou announced on the evening of September 28 that it has signed major computing power business contracts totaling 9.677 billion yuan. Among them, the company signed a Computing Power Service Agreement with Company D, with a contract value of 5.717 billion yuan, tax inclusive, excluding cabinet service fees. Cabinet services will be settled separately based on actual usage, and the service cooperation period is 60 months. At the same time, the company signed a Computing Power Server Procurement Agreement with Company C, with a total contract value of 3.96 billion yuan, tax inclusive, under which Company C will deliver all products in batches. Fengzhushou stated that the procurement project funds will be raised through a combination of its own funds, financial leasing, and supporting working capital loans, with own funds expected to account for 5% to 20% and financial leasing financing expected to account for 80% to 95%. The company said this comprehensive computing power service project is a routine business measure based on its main business and aimed at advancing the implementation of existing operations, which will help improve its computing power service system and enhance market competitiveness.

Fengzhushou's wholly owned subsidiary Ya'an Yunsuan has signed a 4.6 billion yuan computing power service contract with Company B, and a 3 billion yuan computing power server procurement agreement with Company A. Haichuan Intelligent announced that its stock price deviation over three consecutive trading days exceeded 30 percent, constituting abnormal fluctuation, and that the proposed 130 million yuan purchase of a 15.30 percent stake in Nanjing Jiyi Semiconductor Technology has not yet completed internal decision-making procedures, leaving uncertainty. Unitree's preliminary inquiry date is August 5, with online and offline subscription on August 10. In other news, China successfully launched the 23rd group of low-orbit satellite internet satellites; the target for aggregated adjustable charging scale in vehicle-grid interaction is to reach 50 million kilowatts by 2030; and a national standard for autonomous driving safety requirements has been released.

Fengzhushou's wholly-owned subsidiary, Ya'an Cloud Intelligence Computing Power Technology, recently signed a computing power server procurement agreement with Company A and a computing power service contract with Company B. The total value of the computing power server procurement agreement with Company A is 3.062 billion yuan, with Company A delivering computing power servers and networking equipment in batches. The total value of the computing power service contract with Company B is 4.608 billion yuan, with a cooperation period from August 5, 2026 to August 4, 2031, and each batch of service lasting 60 months. Procurement funds will be raised through a combination of own funds, financial leasing, and supporting working capital loans, with financial leasing expected to account for 80 to 95 percent of the financing. The company estimates an average annual net profit of 60 to 72 million yuan from the project, but fluctuations in financing costs may cause corresponding variations in annual net profit.

On the evening of August 4, several listed companies disclosed significant announcements. Jiangnan New Materials plans to issue shares to no more than 35 specific investors, raising total funds not exceeding 1.6 billion yuan, for a high-purity electronic-grade copper oxide powder construction project and a liquid cooling module and accessories construction project. Bee Assistant's wholly-owned subsidiary, Ya'an Cloud Computing, signed a computing power server procurement agreement with a total value of 3,062,452,800 yuan, and also signed a computing power service contract with Company B worth a total of 4,608,000,000 yuan. The service period runs from August 5, 2026 to August 4, 2031, with an expected average annual net profit of 60 to 72 million yuan. Hangya Technology expects its net profit attributable to shareholders of the listed company for the first half of 2026 to be between 50 million and 55 million yuan, a year-on-year decrease of 10.15% to 18.32%, but second-quarter net profit increased by 49.56% to 74.51% quarter-on-quarter. Xiechuang Data and its subsidiaries plan to use their own funds, with a maximum total balance not exceeding 7 billion yuan, for entrusted wealth management, of which no more than 6 billion yuan will be used for agreement deposits. In addition, Changjiang Securities plans to repurchase shares at a price not exceeding 14.01 yuan per share, with a repurchase amount of no less than 100 million yuan and no more than 200 million yuan, for employee stock ownership plans or equity incentives.

On the evening of August 4, multiple listed companies released positive announcements. Fengzhushou's wholly-owned subsidiary, Ya'an Yunsuan, signed a server procurement agreement for computing power worth a total of 3.062 billion yuan, and signed a computing power service contract with Company B worth a total of 4.608 billion yuan, with a five-year cooperation period and an estimated average annual net profit of 60 million to 72 million yuan. Zhongfu Industrial disclosed its semi-annual report, with first-half net profit of 1.881 billion yuan, up 165.84% year-on-year, mainly benefiting from rising aluminum prices and increased sales of aluminum processed products. A subsidiary of Dajin Heavy Industry signed a contract with a Norwegian shipowner to build two bulk carriers, with a total value of about 1 billion yuan, to be delivered in batches by 2029. Meili Technology plans a private placement to raise no more than 585 million yuan for projects including an annual output of 2 million intelligent suspension units and 10 million electric and hydraulic drive elastic components. Jiangnan New Materials plans a private placement to raise no more than 1.6 billion yuan for the construction of high-purity electronic-grade copper oxide powder and liquid cooling heat dissipation module projects. Nord New Materials stated that monthly production scheduling of lithium battery copper foil continues to rise, and a second round of price adjustments is expected to be implemented in the third quarter. Zhongke Sanhuan is planning to acquire a controlling stake in Zhongdian Magnetic Acoustics, a manufacturer of rare earth permanent magnet devices. Zhidongli plans to invest about 300 million yuan in the industrialization of electronic specialty materials for optical communications, computing power thermal control, and ITO applications.

A wholly owned subsidiary of Fengzhushou has signed a computing power server procurement agreement worth 3.062 billion yuan and a computing power service contract worth 4.608 billion yuan, with the combined amount exceeding 7.6 billion yuan. Today, the three major A-share indices closed higher. The Shanghai Composite Index ended at 3,822.28 points, up 0.33 percent, the Shenzhen Component Index rose 3.25 percent, and the ChiNext Index gained 5.64 percent. Total market turnover for the day was approximately 2.23 trillion yuan. On the sector front, electronic components led the gains, with co-packaged optics and lithography machines also advancing, while banking and insurance were among the biggest decliners. Institutional research reports issued a total of five buy-type rating records, covering five individual stocks including WuXi AppTec and Boyuan Chemical. Among them, Xinquan Auto Trim and Yanjing Beer received target price forecasts from institutions, with upside potential exceeding 30 percent. On the Dragon and Tiger list, institutions were net buyers of 21 stocks. Shijia Photonics topped the list with net purchases of 839 million yuan, while northbound funds led net buying of Dongshan Precision at 322 million yuan. Evening announcements also included Xiechuang Data planning to use no more than 7 billion yuan of its own funds for entrusted wealth management, Zhongfu Industrial reporting first-half net profit of 1.881 billion yuan, up 165.84 percent year on year, and Lianchuang Optoelectronics being placed under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws.

The latest weekly large model call rankings from global multi-model aggregation platform OpenRouter show that the top five products are all developed by Chinese companies. Xiaomi's MiMo-V2.5 topped the list with 10.5 trillion tokens called in a single week, up 12 percent week-on-week. Two DeepSeek models ranked second and fifth, forming a high-low mix. Tencent's Hunyuan 3, online for just one month, saw a weekly surge of over 999 percent, making it the fastest-growing model. At the industry level, Guolian Minsheng Securities believes that accelerating AI application development is key to generating positive industrial capital returns from current AI capital expenditure. The leap in open-source model capabilities is greatly boosting application development. ByteDance's Doubao, Tencent's WorkBuddy, and Alibaba's Qwen are rapidly accumulating traffic, and the commercialisation of AI applications is about to begin. In the secondary market, the AI application index has fallen more than 30 percent from its high on 13 January, but rebounded violently by nearly 10 percent in the past week, with a single-day gain of over 5 percent on 31 July. The trio of Yidian Tianxia, Chinese Online, and Tianlong Group, dubbed the Yi Zhong Tian combination, has drawn attention. On the funding side, 28 AI application concept stocks saw net inflows of over 100 million yuan from major funds. BlueFocus topped the list with 2.419 billion yuan and hit the daily limit up, while Kunlun Tech saw net inflows exceeding 1 billion yuan and also hit the daily limit up. As of 2 August, among brokerages' August golden stock picks, Kunlun Tech received two recommendations, while Fengzhushou, Century Huatong, and Zhipu each received one. Century Huatong expects first-half net profit of 4.3 billion to 4.77 billion yuan, a year-on-year increase of 61.87 percent to 79.57 percent.