--- title: "Galaxy Securities: Demand for intelligent computing surges, supply side accelerates expansion" type: "News" locale: "en" url: "https://longbridge.com/en/news/244600035.md" description: "China Galaxy Securities released a research report stating that, influenced by the boom in large models, the construction of intelligent computing centers in China is accelerating, becoming the core infrastructure of new productive forces. It is expected that from 2024 to 2027, the national demand for intelligent computing will increase from 2016 MW to 9480 MW, with a compound annual growth rate of 66%; supply will also rise from 2485 MW to 10670 MW, with a compound annual growth rate of over 60%. It is recommended to pay attention to companies such as sinnet and Dawei Technology, as they possess medium to long-term growth value driven by AI large models" datetime: "2025-06-16T00:03:02.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/244600035.md) - [en](https://longbridge.com/en/news/244600035.md) - [zh-HK](https://longbridge.com/zh-HK/news/244600035.md) generator: "portal-rs" --- # Galaxy Securities: Demand for intelligent computing surges, supply side accelerates expansion According to the Zhitong Finance APP, China Galaxy Securities released a research report stating that starting in 2023, driven by the boom in large models, the construction of China's intelligent computing centers has accelerated significantly, becoming a core infrastructure supporting "new quality productivity." Kezhi Consulting predicts that from 2024 to 2027, national intelligent computing demand will increase from 2016 MW to 9480 MW, with a compound annual growth rate of 66%, driven by inference demand; during the same period, supply will also grow rapidly, expanding from 2485 MW to 10670 MW, with a compound annual growth rate exceeding 60%. It is recommended to pay attention to sinnet (300383.SZ) and Dawei Technology (600589.SH), which have medium to long-term growth value under the backdrop of the "East Data West Computing" strategy and the continuous upward demand for computing power driven by AI large models. **Soaring intelligent computing demand, accelerated supply-side expansion, and energy and delivery synergy capabilities as core valuation competitiveness:** Starting in 2023, driven by the boom in large models, the construction of China's intelligent computing centers has accelerated significantly, becoming a core infrastructure supporting "new quality productivity." Compared to traditional general computing centers, intelligent computing centers emphasize the integration of computing and operation, energy efficiency standards, and safety and reliability, with the demand side showing characteristics of high concentration, rapid growth, and penetration across multiple industries. Kezhi Consulting predicts that from 2024 to 2027, national intelligent computing demand will increase from 2016 MW to 9480 MW, with a compound annual growth rate of 66%, driven by inference demand; during the same period, supply will also grow rapidly, expanding from 2485 MW to 10670 MW, with a compound annual growth rate exceeding 60%. The supply system is composed of third-party service providers, operators, and enterprises/governments building their own systems, with third-party vendors becoming the main force in the customized wholesale market due to their customization capabilities and delivery efficiency. As leading clients compress delivery cycles to "T+6 months," high-delivery-capacity projects are accelerating implementation. The focus of competition on the supply side is shifting to resource integration and power scheduling capabilities, with service providers possessing energy synergy advantages building higher barriers. **Data centers are accelerating their evolution towards high energy efficiency, platformization, and customization, with performance growth expected to exceed expectations:** The data center industry chain can be divided into three core links: facility layer, operation layer, and application layer. On the upstream facility side, IT equipment represented by GPU servers accounts for nearly 90% of total construction costs (CAPEX), becoming a key focus of capital expenditure, with graphics card servers alone accounting for over 60% of the investment. In terms of operating costs (OPEX), electricity and depreciation combined account for over 80%, and the high energy consumption characteristics impose higher requirements on power supply and cooling systems, also promoting the application of advanced technologies such as liquid cooling to reduce PUE and optimize TCO. The midstream operation layer presents a regional clustering and functional differentiation pattern driven by "East Data West Computing," with the Beijing area and the Yangtze River Delta becoming core supply areas for training and inference computing power. It is expected that starting in 2025, core regions will first enter a stage of tight supply-demand balance, and operators' resource scheduling capabilities and customer customization service capabilities will become core competitiveness. Overall, the business model of data centers is evolving from "space + bandwidth" type computing leasing to platformized and ecological facilities characterized by high density, high energy efficiency, and soft-hard collaboration, with accelerated industry growth expected **Typical Company Sinnet:** The company focuses on the Beijing-Tianjin-Hebei region, the Yangtze River Delta, and Inner Mongolia, building a high-performance intelligent computing cluster with scarcity and resource scheduling advantages. It collaborates with Amazon Web Services to promote cloud services, enhancing customer stickiness and profitability. The Inner Mongolia project achieves green and low-cost computing power supply due to low electricity prices and natural cooling sources. By the end of 2024, the company has put into operation 59,000 cabinets, with an overall plan of over 230,000, a rack rate of 70%, and a signing rate of nearly 90%, demonstrating outstanding fulfillment capability. **Typical Company Dawei Technology:** The company focuses on the Beijing-Hebei hub, entering the core area of "East Data West Computing." The Zhangbei Rongtai project is positioned as a high-standard green intelligent computing center, expected to carry nearly 10,000 P of computing power, and is bound by a 10-year major customer contract with an average annual revenue of 163 million yuan, ensuring stable cash flow. The acquisition of Jinyun Technology fills the core resource gap and strengthens its own resource layout and delivery capability. The company is accelerating its transformation into a comprehensive computing power service provider, promoting execution capability enhancement through an equity incentive mechanism, and possesses growth potential and fulfillment capability ### Related Stocks - [600589.CN](https://longbridge.com/en/quote/600589.CN.md) - [300383.CN](https://longbridge.com/en/quote/300383.CN.md) ## Related News & Research - [Chinese Pharma Companies Plan Hong Kong Listings](https://longbridge.com/en/news/297979501.md) - [OpenAI's ad business shows blistering growth, hits $1 billion annualized revenue run rate](https://longbridge.com/en/news/297522913.md) - [REG - NextEnergy Solar Fnd - Result of AGM](https://longbridge.com/en/news/298041368.md) - [08:39 ETGraywind Manual Sliding Track Blinds 2.0 for Flexible Living Spaces](https://longbridge.com/en/news/298039910.md) - [14:00 ETRugs USA Launches Exclusive TikTok Shop Event](https://longbridge.com/en/news/298064956.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**