Leon Technology Co Ltd

On August 13, computing power leasing stocks strengthened in China's A-share market. Leon Technology surged to its 20% daily limit just three minutes after the open. Chengdi Xiangjiang achieved its third consecutive daily limit. Jiadu Technology and Litong Electronics also hit daily limits, while Cambricon, Inspur Information, and Runze Technology followed higher. On the news front, US AI computing power leasing company Nebius reported second-quarter revenue of 582.3 million US dollars, up 454% year on year, and its shares soared more than 34% overnight. CoreWeave's second-quarter revenue doubled to 2.58 billion US dollars. The company said gross margins on newly signed computing power contracts in the second quarter were 5 to 10 percentage points higher than in previous quarters, and its shares rose more than 19% overnight. The Shanghai Municipal Development and Reform Commission issued an action plan for implementing measures to further promote private investment. It proposes carrying out computing power subsidies in accordance with laws and regulations, supporting private enterprises in renting intelligent computing resources for large model research, development, training, and applications, and encouraging universities, research institutions, and state-owned enterprises to use data storage and computing power resources built by various types of business entities, including private enterprises. It also promotes the issuance of computing power vouchers, model vouchers, and corpus vouchers to reduce the cost of using digital factors. A research report from China International Capital Corporation believes that AI remains the main medium-term prosperity line, but high-level computing power hardware has entered a phase of differentiation. Capital is gradually spreading to AI application areas such as AIGC, culture and media, and data factors. Going forward, attention should be paid to earnings delivery and crowding risks.

Leon Technology announced plans to issue shares to specific investors through a simplified procedure, raising no more than 255 million yuan. The funds will be used for the Leon Cloud Data AI computing resource pool project and to supplement working capital.

On the evening of July 28, multiple listed companies on the Shanghai and Shenzhen stock exchanges issued significant positive announcements. Zhongji Innolight's chairman and president Liu Sheng proposed that the company repurchase shares worth 4 billion to 8 billion yuan for equity incentives or employee stock ownership plans. BOE Technology's controlling shareholder, Beijing Electronics Holdings, plans to increase its shareholding by 500 million to 1 billion yuan. Kingsoft Office expects a net profit attributable to the parent company of 2.316 billion to 2.719 billion yuan in the first half of 2026, a year-on-year increase of 209.98% to 263.89%, with some external investment fund projects achieving good returns. Wanma Technology's subsidiary, Wanma Polymer, plans to invest in cable material projects in Lin'an, Hangzhou, and the West Coast of Qingdao, with a total investment of approximately 820 million yuan. Jiuzhou Yigui's wholly-owned subsidiary plans to invest in an advanced semiconductor wafer laser stealth dicing industrialization project, with a total investment not exceeding 630 million yuan. In addition, Sanyou Chemical's controlling subsidiary plans to purchase a 31% stake in Sanyou New Materials, Daimei Auto Parts plans to acquire 100% equity of Rongming Technology, Leon Technology plans to raise no more than 255 million yuan through a private placement for an artificial intelligence computing resource pool project, Yandong Microelectronics' controlling shareholder's controlling subsidiary plans to increase its shareholding by 150 million to 300 million yuan, and Hongfuhan's liquid cooling business orders are progressing steadily.