The core of computing power leasing is the on-demand rental of GPU/TPU clusters, eliminating the need for self-built data centers. It has already covered fields such as AI, the Internet, finance, healthcare, industry, government affairs, and scientific research.

Breakdown of Each Link in the Computing Power Leasing Industry Chain

Upstream (Core Hardware)

GPU/AI chips, servers, IDC/data centers (power, liquid cooling, optical modules)

Midstream (Leasing Operations)

Computing power lessors, cloud providers, IDC transformers, engaged in cluster setup, maintenance, and on-demand leasing

Downstream (Demand Applications)

AI large models, training/inference, autonomous driving, film and television rendering, scientific research/government and enterprise computing power demand

Profitability of Enterprises in the Computing Power Leasing Industry Chain

The analysis of corporate profitability involves an in-depth examination of company profit margins.

Based on business relevance, a total of 48 enterprises in the computing power leasing industry chain were selected as research samples, with indicators such as return on equity, gross profit margin, and net profit margin used for evaluation.

Data is based on historical performance and does not represent future trends; it is for static analysis only and does not constitute investment advice.

10. Litong Electronics

Industry Segment: IT Services

Profitability: Return on Equity 16.18%, Gross Profit Margin 24.80%, Net Profit Margin 8.89%

Main Products: Precision metal stamping structural parts are the primary source of income, accounting for 56.51% of revenue, with a gross profit margin of 9.87%

Company Highlights: Litong Electronics' AI computing power business primarily revolves around providing computing power leasing services to customers, fully realizing the delivery of AI computing power products through cloud-based methods.

9. Runjian Co., Ltd.

Industry Segment: Communication Engineering and Services

Profitability: Return on Equity 0.60%, Gross Profit Margin 12.23%, Net Profit Margin -0.32%

Main Products: Communication network services are the primary source of income, accounting for 42.94% of revenue, with a gross profit margin of 16.87%

Company Highlights: Runjian Co., Ltd. provides customers with integrated AI model and computing power services, including computing power leasing, computing power construction and maintenance, data governance, training, tuning, and algorithm toolboxes.

8. Dongyangguang

Industry Segment: Comprehensive

Profitability: Return on Equity 3.07%, Gross Profit Margin 19.89%, Net Profit Margin 1.95%

Main Products: High-end aluminum foil products are the primary source of income, accounting for 39.65% of revenue, with a gross profit margin of 4.12%

Company Highlights: Dongyangguang quickly filled gaps in its computing power operations segment by acquiring Chindata, achieving full-chain synergy from 'components-liquid cooling-computing power.'

7. Inspur Information

Industry Segment: Other Computer Equipment

Profitability: Return on Equity 11.55%, Gross Profit Margin 4.88%, Net Profit Margin 1.46%

Main Products: Server products are the primary source of income, accounting for 93.82% of revenue, with a gross profit margin of 4.52%

Company Highlights: Inspur Information, in collaboration with partners, released the 'Qiantang River' intelligent computing center solution, supporting ultra-large-scale cluster expansion and featuring leading liquid cooling capabilities.

6. Shunwang Technology

Industry Segment: Communication Application Value-Added Services

Profitability: Return on Equity 17.47%, Gross Profit Margin 48.46%, Net Profit Margin 25.81%

Main Products: Online advertising and value-added services are the primary source of income, accounting for 71.33% of revenue, with a gross profit margin of 34.89%

Company Highlights: Shunwang Technology effectively constructed a diverse and heterogeneous computing power resource pool, primarily providing computing power leasing services to offline consumer venues and some enterprise clients.

5. Runze Technology

Industry Segment: Communication Application Value-Added Services

Profitability: Return on Equity 41.80%, Gross Profit Margin 46.04%, Net Profit Margin 88.99%

Main Products: IDC services are the primary source of income, accounting for 55.76% of revenue, with a gross profit margin of 44.10%

Company Highlights: As the lead party in intelligent computing centers, Runze Technology organized the construction of a complete industrial ecosystem, ranging from intelligent computing infrastructure to intelligent computing platforms and overall intelligent computing center solutions.

4. Lianhua Holdings

Industry Segment: Seasoning and Fermentation Products

Profitability: Return on Equity 16.99%, Gross Profit Margin 27.43%, Net Profit Margin 9.27%

Main Products: Monosodium glutamate and other amino acid seasonings are the primary source of income, accounting for 66.40% of revenue, with a gross profit margin of 29.02%

Company Highlights: Zhejiang Lianhua Zixing, a subsidiary of Lianhua Holdings, serves as the implementing entity for computing power business. In the computing power business, the company actively expands into the toC market based on its existing toB services.

3. Hongxin Electronics

Industry Segment: Printed Circuit Boards

Profitability: Return on Equity 11.92%, Gross Profit Margin 12.45%, Net Profit Margin 2.71%

Main Products: Printed circuit boards are the primary source of income, accounting for 53.14% of revenue, with a gross profit margin of 9.97%

Company Highlights: Hongxin Electronics provides computing power for AI cities through domestically produced Enflame ten-thousand-card clusters, effectively promoting the transition of domestic computing power from 'usable' to 'user-friendly.'

2. Xiechuang Data

Industry Segment: Other Computer Equipment

Profitability: Return on Equity 30.03%, Gross Profit Margin 19.24%, Net Profit Margin 9.41%

Main Products: Data storage devices are the primary source of income, accounting for 36.72% of revenue, with a gross profit margin of 14.89%

Company Highlights: Xiechuang Data deploys and operates computing power centers in multiple locations, providing customers with cloud computing power leasing services based on high-end computing power.

1. Grandscape Technology

Industry Segment: IT Services

Profitability: Return on Equity 2.20%, Gross Profit Margin 21.26%, Net Profit Margin 2.27%

Main Products: Computing power services are the primary source of income, accounting for 76.53% of revenue, with a gross profit margin of 24.79%

Company Highlights: Grandscape Technology provides customers with integrated solutions for GPU hardware procurement and computing power networking, aiming to become a leading provider of intelligent computing solutions in China.