Analysis Report on the Competitive Position of Zhongbei Communication's 17,000P Computing Power Scale

Zhongbei Communication has an operational computing power scale of over 17,000P, occupying a

in China’s intelligent computing service industry. Its customer structure shows diversified characteristics, including large cloud service providers, local governments, and scientific research institutions. This combination brings unique advantages and challenges to its business development.

According to industry data, the computing power scale of China’s intelligent computing service market shows obvious stratification:

• Alibaba Cloud: Cloud intelligence business grew by 34% in Q3 2025, with its AI computing power scale far exceeding 100,000P
• Tencent Cloud: Relying on the Tencent ecosystem, its computing power scale is in the 80,000-100,000P range
• Huawei Cloud: Ascend AI computing power exceeds 50,000P

• Zhongbei Communication (17,000P):
  Located in the upper-middle position of this range
• Digital Harbor: Data center operator, with an intelligent computing-related scale of approximately 15,000-20,000P
• 21Vianet: Multi-business lines, with intelligent computing power of approximately 20,000P

• Professional AI computing power service providers, with relatively small scales

Zhongbei Communication’s 17,000P computing power scale ranks it around

in the industry, making it an , but there is still a significant gap with leading enterprises.

From the 2025 stock price performance, we can see [0]:

• Digital Harbor
  : Total return rate of 78.16%, the market has the highest expectation for its transformation from data center to intelligent computing
• 21Vianet
  : Total return rate of 76.09%, its multi-business line layout has been recognized by the market
• Zhongbei Communication
  : Total return rate of -0.88%, relatively flat performance with an amplitude of 64.80%
• Sinnet
  : Total return rate of -3.11%, facing greater pressure in transforming traditional businesses

Zhongbei Communication’s market performance reflects investors’ cautious attitude towards the

.

Zhongbei Communication’s customer portfolio has the following characteristics:

• Kingsoft Cloud
  : One of the major domestic cloud service providers with stable demand
• Jieyue Xingchen
  : AI large model company with rapidly growing computing power demand

• Lingang Computing Power
  : Computing power infrastructure project in Shanghai Lingang New Area
• Qinghai Unicom
  : Cooperation project between local government and operator
• Jinan Supercomputing Center
  : National-level supercomputing center project

• Large cloud service providers provide
  sustained demand
  with relatively long contract terms
• Government projects have
  policy stability
  and are less affected by market fluctuations

• Diversified customer types reduce the risk of dependence on a single customer
• Complementary demand cycles
  among different customer groups smooth business fluctuations

• Cooperation with well-known cloud service providers has improved market recognition
• Government projects provide
  policy compliance endorsement

• Large customers like Kingsoft Cloud have strong bargaining power, which may compress profit margins
• The price adjustment mechanism in long-term cooperation agreements is relatively fixed

• Local government projects are greatly affected by
  fiscal budget cycles
• Project approval and payment cycles are relatively long, affecting cash flow

• AI companies like Jieyue Xingchen have continuously increasing requirements for computing power technology
• Continuous investment in equipment upgrades is required to meet customer needs

• Focus on the niche market of intelligent computing services, avoiding direct competition with giants in general cloud services
• The 17,000P scale has
  scale effect advantages
  in the niche market

• The customer group covers key links in the industrial chain, forming
  ecological synergy effect
• Combination of government and commercial customers provides a balance between stability and growth

• Layout in regions like Qinghai and Jinan is in line with the national
  Eastern Data Western Computing
  strategy
• Enjoy policy support and preferential treatment from local governments

• Compared with giants like Alibaba Cloud and Tencent Cloud, capital investment capacity is limited
• Expanding computing power scale faces
  capital bottlenecks

• Relatively limited investment in core technology R&D such as AI chips and algorithm optimization
• May face the risk of falling behind in technological iteration

• Compared with leading enterprises, brand awareness and market influence need to be improved
• At a disadvantage when competing for high-end customers

• Establish deeper technical cooperation with Kingsoft Cloud and Jieyue Xingchen
• Expand business share among existing customers

• Focus on developing regions with strong policy support such as Qinghai and Jinan
• Form regional computing power network advantages

• Focus on computing power needs of specific AI application scenarios
• Develop industry-customized intelligent computing solutions

• Strengthen technical cooperation with chip manufacturers and algorithm companies
• Improve computing power utilization efficiency and energy management capabilities

• Solve capital bottlenecks through equity financing, industrial cooperation, etc.
• Explore strategic cooperation opportunities with large enterprises

: Policy changes in the intelligent computing service industry may affect business development
: Rapid iteration of AI technology poses challenges to existing computing power assets
: Leading enterprises may increase investment in intelligent computing services, squeezing the space of small and medium-sized service providers
: Computing power expansion requires large capital investment, leading to greater financial pressure

With its 17,000P computing power scale, Zhongbei Communication occupies a

in China’s intelligent computing service industry. Its diversified customer structure provides a stable revenue foundation and risk diversification capability for business development. However, compared with leading enterprises in the industry, there are still significant gaps in capital strength, technological R&D, and brand influence. In future development, the company needs to fully leverage its customer structure advantages and make up for its deficiencies in scale and technology through differentiated competition and strategic cooperation to gain more development space in the rapidly growing intelligent computing service market.

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[0] Gilin API Data - Stock price data and market performance statistics of Zhongbei Communication and related companies
[1] Wall Street Journal - “Witnessing China’s Another Ace in the AI Race in Inner Mongolia: The World’s Largest Power Grid” (December 2025)
[2] Bloomberg - “Alibaba’s AI Arm Surges 34% Though Big Spending Slashes…” (November 2025)
[3] Wall Street Journal - “Alibaba’s Quarterly Revenue Exceeds Expectations, Demonstrating AI Strength” (November 2025)