Pinggao Co., Ltd. (688227) Limit-Up Analysis: Domestic Computing Power Cooperation Driver and Market Impact

Pinggao Co., Ltd. (688227) is a Sci-Tech Innovation Board listed company focusing on cloud computing and industry informatization services [0]. Since 2025, its stock price has performed strongly, rising from approximately 30 yuan at the start of the year to 49.02 yuan in November, an increase of over 60%, with its market value growing from 3.4 billion yuan to 4.68 billion yuan [0]. The core driver is its deep strategic cooperation with Jiangyuan Technology, a domestic AI chip enterprise: the controlling shareholder transferred 12% of its equity (499 million yuan) to a subsidiary of Jiangyuan Technology and injected an additional 400 million yuan in capital [4]; the two parties jointly released the ‘Pingyuan AI All-in-One Machine’ series, equipped with the domestic D10 chip [0]. The company benefits from the national strategy of independent and controllable computing power and the rapid growth opportunities in the AI industry [0].

1. Strategic alignment with domestic chip enterprises: Entered the domestic computing power track via equity and capital cooperation, expanding its business from cloud computing to AI computing power [0][4].
2. Dual benefits of policy and market: The domestic computing power sector has received policy support, and together with capital rotation effects, this has推动 the stock price rise [0].
3. Business diversification: The company is classified under the ‘Planning to increase capital in Jiangyuan + AI All-in-One Machine + Cloud Computing + Military Industry’ concept, expanding application scenarios across multiple fields [0].

: The current price-to-earnings ratio reflects a loss, indicating the company is still in the investment phase [0]; the AI computing power sector is highly competitive, so attention should be paid to technological iteration and shifts in market share.
: Domestic computing power policies continue to be strengthened, and the launch of cooperative products is expected to drive new growth [0][4]; the company’s Sci-Tech Innovation Board listing and industry growth prospects support its development.

Pinggao Co., Ltd.’s (688227) limit-up event reflects the market’s positive outlook on domestic AI computing power collaborations. Through deep cooperation with Jiangyuan Technology, the company has positioned itself in the domestic computing power track and benefited from policy and industry opportunities. Investors should monitor subsequent cooperation progress, product commercialization, and the company’s ability to improve profitability [0][1][2].