Tracking the concept of Hong Kong stocks | ByteDance makes a large investment in computing power or opens up space for the domestic computing power industry chain (with concept stocks)

On December 22nd, local time, US President-elect Trump expressed his support for TikTok to continue operating in the US for a period of time while speaking in Phoenix, the capital of Arizona. A report released by Minsheng Securities stated that according to reports from Titanium Media and Chip Intelligence on December 19th, Microsoft is expected to purchase 485,000 pieces of Nvidia Hopper GPU in 24 years, surpassing Meta, the second largest purchaser in the US, by 261,000 pieces. Amazon and Google have purchased 196,000 and 169,000 pieces of Hopper GPU respectively. On a global scale, domestic Byte GPU purchases are approximately 230,000 pieces, ranking first in China and second globally. As domestic models continue to iterate, downstream application scenarios are expected to expand continuously, and the demand for high-level interactive reasoning will inevitably bring new hardware demands. As Byte Bean is the top AI monthly active model in China, its investment in computation continues to strengthen and is expected to stimulate upgrades in the industry chain. Huafu Securities released a report stating that ByteDance held the Volcano Engine FORCE motive conference on December 18th, officially launching the Bean Bag 3D generation model. The daily token usage of Bean Bag's large model has surpassed 40 trillion, growing more than 33 times in the past seven months. The company is optimistic about this trend, and considering factors such as computational resource reserves, future market demand, and model cost reduction, it is estimated that Bean Bag's daily token consumption will exceed 100 trillion in 2027. The report believes that with the rapid growth in demand for Bean Bag's large model and ByteDance's increased AI investment, upstream hardware companies in the computational industry chain will greatly benefit. The report recommends focusing on the optical module, copper connection, switch, server, and server component industry chain. The computational industry chain related to ByteDance involves companies listed on the Hong Kong Stock Exchange: ZTE Corporation (00763): On December 20th, ZTE Corporation stated on an interactive platform that the company is focusing on low-altitude infrastructure, relying on core technologies and product solutions such as 5G-A integration to build low-altitude communication networks and sensing networks, and provide related information services to address communication, navigation, and monitoring issues for low-altitude drones. ZTE Corporation staff stated that the company is currently collaborating with major internet companies, but the specific list cannot be disclosed. Additionally, the staff mentioned that computational power is the company's future development direction, but it is still in the early stages of research and development. According to Tianyancha, on November 4th, ZTE Corporation established Beijing Xingyun Data Technology Co., Ltd. with a registered capital of 700 million yuan and Wang XiYu, Vice President of ZTE Corporation, as the legal representative. Its business scope includes: basic software development for artificial intelligence, application software development for artificial intelligence, system integration services for industry applications of AI, big data services, etc. The equity penetration shows that the company is wholly owned by ZTE Corporation.