AH Stocks rose, the Hang Seng Index increased by nearly 3%, and Alibaba surged over 9% driving the computing power to take off.
A-shares related to Alibaba Cloud opened with a significant rise, Hangzhou Zhongheng Electric, Insigma Technology, Shanghai AtHub, and RunJian Co.,Ltd. hit the limit up, Guangdong Aofei Data Technology rose over 10%, Yimikang Tech. Group.Co.,Ltd., Ruijie Networks, and Yacong Co., Ltd. also followed the upward trend.
In the next three years, Alibaba Cloud and AI infrastructure investments will exceed the total of the past ten years, and domestic computing power construction may be the most certain main line.
① In the Q3 2025 Earnings Reports Analyst conference call, Alibaba Group CEO Wu Yongming stated that investments in cloud and AI infrastructure over the next three years are expected to exceed the total of the past decade. ② Chen Tong from Western Securities pointed out that large models are reshaping the technology architecture, service models, charging models, and application ecology for cloud providers.
Express News | Is it the first time considering raising external funds? DeepSeek representatives refute the rumors: all financing news is false.
Xiamen Jihong Package Technology, a cross-border social e-commerce from Fujian, has received a filing notice for its listing in Hong Kong | A-share company listing in Hong Kong.
According to the new regulations for the filing of overseas listings by domestic enterprises effective March 31, 2023, companies choosing to list in Hong Kong as Listed in Hong Kong have rendered the original small and large road filings history. Companies listing overseas can directly submit their prospectus, and the large road filing will be replaced by a "filing notification letter." On January 24, 2025, the International Cooperation Department of the China Securities Regulatory Commission issued a filing notification letter regarding Xiamen Jihong Technology Co., Ltd.'s overseas issuance and listing (Guo He Han [2025] No. 156). The filing notification letter is as follows: Xiamen Jihong Technology Co., Ltd.: your company's filing materials for overseas issuance and listing have been received. According to the Securities Law of the People's Republic of China.
Analysts predict that ByteDance's AI computing power expenditure will exceed 100 billion yuan by 2025, and the dawn of domestic computing power demand is approaching.
① Recently, ByteDance announced the procurement sourcing announcement for the design framework of its self-built Datacenter substation. ② Zheshang Securities stated that the dawn of domestic computing power demand has arrived, and ByteDance has invested heavily in AI, with capital expenditures reaching 80 billion yuan in 2024.
Local state-owned assets took over the equity of private enterprises, the 19% equity change of Xiamen Jinzu was approved, and last year many Jinzu companies experienced changes in their equity.
① This morning, the official website of the National Financial Regulatory Administration announced that it agreed to allow Xiamen Xiangyu Asset Management Operation Co., Ltd. to acquire 19% of the shares in Xiamen Financial Leasing Co., Ltd. held by Peking Tongyuan Pharmaceutical Technology Co., Ltd. ② From the equity structure perspective, this is a typical case of local state-owned assets taking over the equity of a private enterprise in the financial leasing industry.