In 2025, intelligent computing is expected to experience explosive growth. IDC predicts that by 2027, the scale of intelligent computing in China will reach 1117.4 EFLOPS (CAGR 33.9%), far exceeding general computing. Yizhu Technology’s integrated storage and computing architecture improves energy efficiency by 50%, breaking through traditional computing bottlenecks. On the policy side, Shenzhen’s “Training Coupons” promote the expansion of computing centers, with Hengrun’s computing business revenue surging by 2814% in 2024. On the equipment side, Inspur’s AI server market share is 18%, and the PUE of the Chinese Academy of Sciences’ liquid-cooled data center is as low as 1.15, with domestic computing equipment achieving a 45% market share in heterogeneous computing scenarios.North Huachuang’s first ion implanter has a dose control accuracy of 0.1%, breaking the monopoly of American companies and targeting a market worth 16 billion yuan; Zhongwei’s 5nm etching machine has entered TSMC’s supply chain, with a global market share exceeding 10%, and 65% of its revenue coming from overseas in 2024. On the manufacturing side, SMIC’s 12nm process yield is 98%, with automotive chip production accounting for 25%; Changdian Technology’s 2.5D packaging technology is internationally leading, with advanced packaging business revenue accounting for 40%. Collaborative innovation in equipment materials has led to a 60% market share for the China Electronics Technology Group’s silicon carbide epitaxial furnace, and Huahai Qingke’s CMP equipment holds a 30% domestic share.In 2025, the industry will face three major opportunities:Demand Side, with L3 level intelligent driving penetration exceeding 20%, leading to a surge in demand for automotive chip equipment;Technology Side, with a target of 30% localization rate for equipment below 12nm and accelerated breakthroughs in EUV-related technologies;Policy Side, with a target of 40% localization rate for chip equipment by 2025, and local subsidies of 20%-30% to promote capacity expansion. The integration of ecosystems deepens, with Huawei’s Ascend collaborating with SMIC to improve AI chip yield by 15%, and Cambricon’s chip inference speed surpassing international competitors by 20%. With the maturity of domestic equipment technology, the market value related to this may exceed 2 trillion yuan in the next three years.
In this issue, we will select six core companies from theintelligent computing and chip manufacturing equipmentrelated enterprises for your reference and research.
First Company: Inspur Information
Core Field: AI servers, intelligent computing infrastructure.
Company Highlights: Global AI server market share of 18%, supplying Baidu and Alibaba, AIStation platform improves computing utilization by 30%, with a 35% increase in server business in 2024.
Second Company: North Huachuang
Core Field: Semiconductor front-end equipment (ion implanters / etching machines).
Company Highlights: The only domestic equipment manufacturer covering the entire process (except lithography), with ion implanter beam accuracy of 0.1%, entering SMIC’s supply chain, and a 45% increase in equipment business in 2024.
Third Company: Zhongwei Company
Core Field: High-end etching machines, MOCVD equipment.
Company Highlights: 5nm etching machine validated by TSMC, with a global market share exceeding 10%, and 65% of overseas revenue in 2024, with technology benchmarking against Lam Research.
Fourth Company: Zhongke Shuguang
Core Field: High-performance computing, liquid-cooled data centers.
Company Highlights: Constructing the National Supercomputing Center, with a single cabinet power of 35kW, PUE < 1.15, and a 60% increase in computing orders in 2025, being a core of the domestic computing ecosystem.
Fifth Company:***(Reply 666 on the homepage to receive)
Core Field: 12nm and above wafer manufacturing, automotive chips.
Company Highlights: Leading domestic wafer foundry, with a 95% yield at 14nm, automotive production capacity accounting for 25%, and a capital expenditure of 15 billion yuan for expanding mature processes in 2024.
Sixth Company:***(Reply 666 on the homepage to receive)
Core Field: 2.5D/3D advanced packaging, HBM stacking technology.
Company Highlights: The third largest packaging and testing company globally, providing packaging services for AMD and NVIDIA, with an advanced packaging gross margin of 28%, covering the top ten chip design companies worldwide.
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