The AI market has set off another "bloody storm".
Recently, HUAWEI CLOUD was released globallyThe first large-model hybrid cloudto provide services to all walks of life;Intel is also coming soonThe first AI PC processor – Meteor Lake, which can achieve efficient AI acceleration and inference on a personal computer.
Acer, Asus, MSI, Lenovo, and HPMeteor Lake-powered laptops are expected to be available in the future, and AI capabilities may become a must-have for PCs in the future, just like software stores.
It can be seen that whether it is large models, cloud computing, or software and hardware, they are all promoting the rapid development of artificial intelligence, and the competition is becoming more intense.
And the company we want to talk about today, Sugon, is our countrySupercomputing faucetIt is also a leader in liquid-cooled data centers, in servers, storage products and many other aspectsThere are deep technical barriers and moats
So, what are the advantages of Sugon?
First of all, the company's two businesses: IT equipment and software development, system integration and technical services, of which IT equipment is the main source of revenueThe proportion is as high as 9129%The main products include high-end computers (high-performance computers, general-purpose servers) and storage products.
Although the revenue of the software development business is relatively low, butThe gross profit margin is relatively high, exceeding 70%., including cloud computing services and data infrastructure construction.
In terms of high-end computersSugon's high-performance computers have continuously made technological breakthroughs, and have been ranked in the TOP100 of China's high-performance computers for 10 consecutive yearsRanked number one；The "Nebula" supercomputer is among the top 500 supercomputing in the worldRanked second, setting a new record for supercomputing in China.
In addition, the company launched domesticThe first liquid-cooled server, Dawning server i620-G30 has set two world records in big data testing, and is among the top 100 manufacturers in China's server market shareRanked third, behind Lenovo and Inspur
In terms of storage productsThe performance of the company's self-developed Pastor storage system is on the authoritative IO500 listNo. 1 in the worldand ranked second in the distributed file storage market in terms of market share for 8 consecutive years, and was launched in 2022The world's first liquid-cooled storage
In terms of data infrastructure constructionSugon's liquid-cooled data center infrastructure in ChinaThe market share has ranked first for many years, with a market share of 588%, or the core business of ByteDance
So, what is Sugon's past performance?
From 2018 to 2022, revenue and net profit both increased, and the performance in the first three quarters of 2023 was also good, achieving revenue of 775.8 billion yuan,A year-on-year increase of 503%；Net profit attributable to the parent company 7500 million yuanA year-on-year increase of 1478%
In the first three quarters of 2023, affected by the development of domestic substitution less than expected, the entire information innovation and semiconductor industry is actually not very goodBucking the trend, which is enough to reflect the strong product competitiveness.
In addition to good performance, Sugon's profitability is also a bright spot.
2018-2022 SugonNet profit margin continued to rise, and much higher than comparable companiesInspur Information, Unisplendour and the Great Wall of China
The reason lies in Sugon'sThe business structure is more perfect, not only the production of low-margin products such as servers, but also high-margin businesses such as cloud computing.
So, what is the focus of Sugon's future?
There is a strong demand for computing power
Since the advent of ChatGPT, major Internet companies have launched research on general large models, and the model parameters are getting larger and larger, and the demand for computing power is also rising.
It is estimated that the number of GPT-2 parameters is 1.5 billion, and by the time of GPT-3, the parameters had grown to 175 billion, and GPT-3 was used28.50,000CPU with exceeded10000 pcsNvidia V100 GPUs are needed to meet the consequent demand for computing power.
Huawei**, by 2030, artificial intelligence computing power will increase by 500 times, if only chips to provide it is obviously unrealistic, so byThe best choice is to provide it by the intelligent computing center, and computing power leasing will become the optimal solution
Sugon has built a number of intelligent computing centers across the country and operated more than 50 cloud computing data centersIt has the largest computing power resources in China, and yesThe first batch of partners of Wenxin Yiyanand give it backZidong Taichu, enlightenmentand other large models provide computing power.
Liquid cooling became mainstream
The explosion of computing power is growth, and high requirements are also put forward for data transmission and bearing in data centers, so power is growing rapidly.
High power will be accompanied by high energy consumption and heat dissipation problems, and in the power consumption of data center equipment, heat dissipation and equipment power consumption are about the sameThe proportion is as high as 43%.
Liquid cooling technology is not only compared to traditional air coolingMore energy-saving and low-carbonIt has significant advantages in terms of maintainability and heat dissipation.
In 2025, the market size of China's liquid-cooled data center is conservatively estimated at 1283200 million, 2020-2025The compound annual growth rate is expected to be as high as 3041%In the future, it may completely replace air cooling, and there is a broad space for development.
Sugon's immersion phase change liquid cooling technology can make the PUE of the data center (a measure of the energy efficiency of the data center, the closer to 1, the better).Minimum optimization to 104and can implement a data centerNatural cooling all year round, and its performance indicators are significantly higher than the current required PUE of 12 levels, with a lead.
Shareholding in Haiguang Information
Haiguang Information must be familiar to everyone, it is a leading domestic chip, and it is also one of the few manufacturers in China that can produce general-purpose processors (CPUs) and coprocessors (DCUs) at the same time.
Moreover, the processor of Haiguang Information has also reached the international advanced level, taking Haiguang 7285 as an example, some of the performance is even far superior to Intel and Huawei Kunpeng.
SugonIt holds more than 27% of the shares of Haiguang Information, which is the largest shareholder of Haiguang InformationIn recent years, Haiguang Information's revenue and net profit have continued to grow, and in the context of domestic substitution, Haiguang Information still has great potential for its technical advantages, so it will also bring greater performance growth to Sugon.
Finally, to sum up.
Sugon has a wide range of product layouts, leading market share in high-end computers, storage products, liquid cooling equipment, etc., and is the largest computing power provider in China, attracting 773 institutional positions (2023 interim report), and even Ge Weidong is the company's major shareholder.
In the future, with the development of artificial intelligence and the advancement of domestic substitution, servers, chips, cloud computing, and data centers are all fields with broad space.