Hong Kong stock concept tracking | Alibaba Cloud tops global database performance and cost-effectiveness ranking, ushering in a new era of domestic databases. Focus on these three main themes (with concept stocks)

On February 26, Alibaba Cloud announced that Alibaba Cloud PolarDB cloud-native database has surpassed the original record by 2.5 times in performance, topping the TPC-C benchmark test rankings. With a score of 20.55 billion transactions per minute (tpmC) and a unit cost of 0.8 Chinese yuan (price/tpmC), it has set a new world record for both TPC-C performance and cost-effectiveness rankings. This record demonstrates that the innovative cloud-native architecture of PolarDB has broken through the scalability bottleneck of a single cluster, withstanding the largest concurrent transaction peak in the world, leading the global performance and scalability in dimensions. According to public information, TPC-C is a benchmark test formulated by the TPC organization to measure the performance of online transaction processing (OLTP) systems. It is known as the "Olympics" of the database field, the most credible testing standard globally, and one of the strict thresholds for commercial databases to prove their strength. This benchmark test will examine the end-to-end capabilities of relational database systems, including two major metrics: performance (tpmC) and cost-effectiveness (price/tpmC). Chinese companies occupy the top four seats in the top 6 of the ranking list, with products from Alibaba Cloud, Tencent Cloud, and Ant Group. It is reported that Alibaba Cloud PolarDB has achieved a growth rate of 400% over the past 3 years, with a user base of over 10,000, and has been successfully applied in core business systems in government affairs, finance, telecommunications, logistics, and the internet fields. It has served institutions such as the natural person tax management system, the national medicaid information platform of 60% of provinces, and well-known enterprises such as China United Network Communications, China Petroleum & Chemical Corporation, AIA, Mihayo, and Feihe. With the rapid development and widespread application of new-generation information technologies represented by AI, the demand for data processing is growing explosively, and the types of data are becoming increasingly diverse. On the policy front, on February 18, Chen Ronghui, member of the Party group and Deputy Director of the National Bureau of Statistics, stated that an important direction of the national data work this year is to vigorously promote the marketization and valueization of data elements. This will bring out the value of data in reducing costs and increasing efficiency for enterprises, nurturing new quality productivity, and empowering the high-quality development of the economy and society. Promoting the value of data, public data must take the lead and truly make public data resources available and put to use. CMSC points out that the open source ecosystem of DeepSeek and the demand it drives for AI will accelerate the circulation and marketization trend of data elements, further unleashing the value of data elements of central enterprises. DeepSeek is largely driving the AI ecosystem from closed-source to open-source, and also promoting the improvement of the circulation speed of data elements and the efficiency of arrangement. In the near future, relevant policies will further accelerate the trend of circulation and marketization of data elements. With the improvement of the marketization mechanism of data elements, central enterprises will further unleash the value of data and are expected to become standard setters and ecosystem maintainers for data governance in their respective industrial fields, thus building competitive advantages. Dongxing believes that while the top-level design of data elements in China is constantly improving, the industrial end achievements continue to be grounded. However, overall, it is still in a relatively early stage, with short-term development opportunities mainly in industrial basic infrastructure construction, and in the medium to long term, data resources will gradually benefit as the market matures and enterprises with the prospect of operating authorized public data. The suggestion is to focus on three main themes: basic infrastructure construction, data asset monetization, and data authorization operation. Related concept stocks: GDS-SW (09698): In early February, Daiwa Research report pointed out that the launch of DeepSeek is a turning point for GDS-SW, as the pricing has stabilized, and it is believed that the monthly service revenue of GDS-SW may bottom out and rebound within one to two years. Based on estimates, its total turnover in the past six months has reached 6 billion Hong Kong dollars, and if GDS-SW changes its main listing location to Hong Kong, it may qualify for inclusion in the Hong Kong Stock Connect plan. This will bring more funds into the stock. The company's rating was upgraded from "Hold" to "Buy", with an H-share target price raised from 20 Hong Kong dollars to 39 Hong Kong dollars. VOBILE GROUP (03738): Recently, Open Source Securities pointed out that VOBILE GROUP is a leading global provider of digital asset and trading services. The company protects digital content assets based on its core patented technologies of film and television genetic digital fingerprints and watermarks. The penetration rate of overseas major customers' content is increasing, domestic platform calls and the expansion of content going overseas regions continue, actively investing in the AIGC field, which is expected to bring incremental growth in the future. China United Network Communications (00762): China United Network Communications Cloud has achieved multi-specification DeepSeek-R1 model adaptation based on the "Star Network" platform, combined with the Ascend intelligent computing base, to achieve flexible switching between privatization and public scenarios pre-deployed in more than 270 backbone cloud pools across the country. China Mobile Limited (00941): China Mobile Limited's cloud platform has tailored a special computing power solution for the DeepSeek-R1 model, providing cost-effective computing power support and development environment for internet enterprises' innovation and efficient scientific research. China Telecom Corporation (00728): China Telecom Corporation's Tianyi Cloud "Xi Rang" intelligent computing platform has completed the full-stack localization adaptation of DeepSeek, significantly lowering the deployment threshold of the model through its self-developed computing resource scheduling system.