Pinggao Co., Ltd. (688227) Price Limit Up In-depth Analysis: 900 Million Yuan Strategic Cooperation with Jiangyuan Technology and Opportunities in the Domestic AI Chip Sector

Pinggao Co., Ltd. (688227) recently hit the price limit up mainly driven by a 900 million yuan in-depth strategic cooperation with Jiangyuan Technology [1][2]. The cooperation includes a 400 million yuan capital increase and 500 million yuan equity transfer, making Pinggao Co., Ltd. the second largest shareholder of Jiangyuan Technology [1]. As a leading domestic computing chip enterprise, Jiangyuan Technology has realized full-life-cycle localization of chip design, manufacturing and testing, filling the gap in AI chip supply chain security [1]. BingoCloud (Pinggao Cloud) under Pinggao Co., Ltd. focuses on enterprise cloud computing services [3], and this software-hardware integration aligns with the development trend of domestic AI computing power infrastructure [0].

1. Strategic Layout Enhancement
   : The cooperation helps Pinggao Co., Ltd. cut into the core link of domestic AI computing power and form synergy with its existing cloud computing business [0].
2. Sector Linkage Effect
   : The domestic AI chip sector has become a market hotspot due to policies on independent and controllable computing power and share adjustments by overseas manufacturers [1], and Pinggao Co., Ltd. benefits from this trend.
3. Shareholder Confidence
   : The controlling shareholder Beijing Shanggao will use 90% of the equity transfer proceeds to support this investment, showing firm confidence in the cooperation prospects [2].

• Integrate Jiangyuan Technology’s chip technology to enhance the competitiveness of AI computing power solutions [0];
• Benefit from the growth of domestic AI chip market demand and policy support [1].

• The integration effect of the strategic cooperation needs time to verify, and may face technical synergy challenges [0];
• Industry competition intensifies, and the increase of participants in the domestic AI chip field may affect market share [0].

Through the strategic cooperation with Jiangyuan Technology, Pinggao Co., Ltd. has strengthened its layout in the domestic AI computing power field and benefited from the current popularity of the domestic AI chip sector. Investors should pay attention to the cooperation progress and integration effect, and view short-term market fluctuations rationally.