Haiguang Information and Inspur both occupy an important position in the field of China's information industry. Haiguang Information focuses on the design of core chips such as domestic architecture CPUs and DCUs. Its products are widely used in data centers in multiple industries such as finance, telecommunications, and energy, as well as cutting-edge fields such as big data processing and artificial intelligence. It was listed on the Shanghai Stock Exchange Science and Technology Innovation Board on August 12, 2022. Inspur has been deeply engaged in high-end computing, storage, cloud computing and other fields for many years. It has a complete IT infrastructure product line and a complete computing industry ecosystem. It was listed on the Shanghai Stock Exchange main board on November 6, 2014.
As of the closing of the market on May 23 last week, Inspur's share price was 61.90 yuan per share, with a total market value of 90.6 billion yuan; Haiguang Information's share price was 136.13 yuan per share, with a total market value of 316.4 billion yuan, ranking first in the market value of the Science and Technology Innovation Board.
As of December 31, 2024, the top two shareholders of Haiguang Information were Inspur and Chengdu State-owned Assets, respectively, holding 27.96% and 17.00% of the shares respectively. Moreover, the actual controllers of the two companies are the Institute of Computing Technology, Chinese Academy of Sciences. This close equity relationship and common "born" have laid a solid foundation for this merger. Related transactions between Inspur and Haiguang Information are also frequent - in 2022, 2023 and 2024, the related transactions between Inspur and Haiguang Information were 2.912 billion yuan, 2.474 billion yuan and 3.689 billion yuan respectively, accounting for a large proportion of Haiguang Information's revenue.
Once the merger is successful, Haiguang Information's chip technology advantages, combined with Inspur's deep accumulation in hardware fields such as servers and storage devices, can create a more complete "chip-hardware-software" solution and build a full-chain capability of "chip + whole machine + computing power service". For example, Haiguang's deep computing series DCU performance has reached 70% of the NVIDIA A100. The silicon cubic liquid-cooled server cluster independently developed by Inspur can increase the GPU utilization rate by more than 30%. The combination of the two, through chip-algorithm-heat dissipation full-link optimization, it is expected that within three years after the merger, the cost of AI training computing power can be reduced by 40%, and the inference delay will be shortened by 50%, greatly improving product competitiveness and accelerating the large-scale application of domestic chips.
Analytical institutions predict that the combined new company's domestic server market share is expected to significantly exceed the current 15%, and the AI chip market share is expected to exceed 50% by 2027, becoming an undisputed leading company in the domestic computing power industry.
In addition, Inspur has laid out computing power nodes in western hubs such as Ningxia and Guizhou, while Haiguang chips provide a base for domestic computing power. After the merger, while promoting the domestic "East and West Calculation" project, its successful experience and technical models are expected to expand to countries along the "Belt and Road". By building data centers overseas and providing computing power services, China's computing power industry advantages will be exported, related technologies, products and services will be driven to go global, and the status of China's information industry in the global industrial chain will be enhanced, and a global computing power industry ecosystem with China as the core will be gradually built.