CITIC Securities: The domestic computing power market is booming, enterprises with funding, electricity, and regional advantages will benefit more.

Guosen Securities research report believes that the Chinese computing power market is flourishing. Although there may be a certain degree of "short-term excess computing power" in the market at present, compared to the global and American markets, the capital expenditure and number of computing power data centers related to computing power in China are still relatively low. "Long-term shortage" should be the main logic of the industry. In the long run, construction companies with state-owned holding advantages and comprehensive strengths in green energy, construction, and leasing will maintain core competitiveness in this wave of artificial intelligence and data center construction.