Target: By 2027, the industrial scale will be 200 billion yuan, and more than 70% of it will be independent and controllable. By 2027, the scale of Shanghai's intelligent computing cloud industry will strive to exceed 200 billion yuan; An ecosystem with cloud-edge-end collaboration and a complete industrial chain has been basically formed. Specifically, it includes: 1) The scale of intelligent computing will strive to reach 200EFLOPS, of which independent and controllable computing power accounts for more than 70%; 2) Build a number of comprehensive intelligent computing cloud platforms and a number of vertical intelligent computing cloud platforms, and form a number of intelligent computing cloud benchmark applications; 3) Cultivate 1-2 strategic enterprises and 20 high-growth enterprises, and attract domestic and foreign leading cloud merchants to expand investment in Shanghai.

Measures: Upgrading infrastructure, exploring application scenarios, cultivating enterprises and improving the ecosystem. (1) Deploy intelligent computing cloud infrastructure, upgrade and expand intelligent computing infrastructure, build a city-level intelligent computing scheduling platform, implement a plan to strengthen the foundation of key technologies, and reduce the operating costs of intelligent computing facilities. (2) Expand new intelligent computing cloud services, build a comprehensive intelligent computing cloud platform, build a vertical intelligent computing cloud platform, and explore intelligent computing cloud application scenarios. (3) Cultivate intelligent computing cloud backbone enterprises, support enterprises to become bigger and stronger, cultivate high-growth enterprises, and attract external enterprises to develop in Shanghai. (4) Improve the intelligent computing cloud industry ecology, build an intelligent computing cloud open source community and standard highland, improve the intelligent computing cloud service security system, build an intelligent computing cloud industry-university-research cooperation mechanism, and extend the intelligent computing cloud industry chain.

Guarantee: organizational coordination, factor support, and international cooperation. (1) Strengthen collaborative organizations, incorporate the development of the intelligent computing cloud industry into the collaborative linkage mechanism of key characteristic industries in urban areas, encourage key districts to introduce support policies to promote the development of the intelligent computing cloud industry as needed, and guide key parks to increase the introduction and cultivation of intelligent computing cloud enterprises. (2) Strengthen the guarantee of elements, and include key intelligent computing cloud projects in the scope of major project support. For the innovative entities of intelligent computing cloud services that are included in the local overall scheduling, a certain proportion of computing power subsidies will be given to the service procurement amount after evaluation. Priority will be given to energy consumption indicators for key intelligent computing centers with important functions. (3) Strengthen international cooperation, promote the convergence of standards and mutual recognition of certification results in the field of intelligent computing cloud, promote overseas intelligent computing cloud enterprises to increase their layout in Shanghai, and guide international organizations in the field of intelligent computing cloud to establish branches in Shanghai.

We believe that by 2027, Shanghai will form an intelligent computing cloud ecosystem covering the entire industry chain, with an independent and controllable technology system initially established, and benchmarking applications to drive the upgrading and iteration of the entire industry chain. In addition, the reduction of operating costs and policy support will attract high-quality enterprises to gather, helping Shanghai become a highland of intelligent computing cloud industry.

It is recommended to pay attention to: 1) Basic hardware: Haiguang Information, Loongson Zhongke, China Great Wall, Cambrian-U; 2) Computing power manufacturers: Yunsai Zhilian, Dataport, Baoxin Software, Wangsu Technology, Winner Technology, Hengwei Technology, UCD-W; 3) AI model manufacturers: Cloudwalk Technology-UW, SenseTime-W, Transwarp-U; 4) AI application vendors: INTSIG, Dingjie Digital Intelligence, Xinzhi Software, Maifuse, Shanghai Ganglian, Weining Health, Pan Micro Network, Jinqiao Information, and Bochu Electronics.

Risk warning: the policy implementation is less than expected; intensified competition in the industry; The construction progress is not as expected.

Compliance Reminder:

The company acts as a market maker of [688041 Haiguang Information], and investors are reminded to pay attention to the potential conflict of interest risk in the release of the securities research report.

The company acts as a market maker of [688188 Bochu Electronics], and investors are reminded to pay attention to the potential conflict of interest risk of the release of the securities research report.

The company acts as a market maker for [688256 Cambrian-U], and investors are reminded to pay attention to the potential conflict of interest risk in the release of this securities research report.

The company serves as a market maker of [688047 Loongson Zhongke], and investors are reminded to pay attention to the potential conflict of interest risk of the release of the securities research report.