Subscription of A-shares | South Grid Digital (301638.SZ) opens subscription, developing and launching a self-controlled large-scale artificial intelligence model in the electric power industry.

On November 7th, Nanwang Digital (301638.SZ) started its IPO with an issue price of 5.69 yuan per share and a maximum subscription limit of 47,500 shares. The price-earnings ratio is 32.22 times, and it is listed on the Shenzhen Stock Exchange, with CMSC as its sponsor. According to the prospectus, the company provides comprehensive digital construction solutions for industries such as electric power and energy, based on new generation information technology. It is committed to building a world-class digital and intelligent innovation platform for electrical grid digitization, while gradually expanding its products and services to areas such as transportation, water supply and gas, government and public security, and urban construction, leveraging its experience in the digital transformation of the power and energy industry. The company focuses on promoting the digital transformation of the electric power and energy industry, gradually developing three major business systems of electric grid digitization, enterprise digitization, and digital infrastructure, which are AI-driven, cloud-edge-end integrated, and software-hardware coordinated. The company is a major force in serving the construction of digital power grids and the digital transformation of power and energy enterprises, a new force in maintaining grid security, and an important implementer of national strategies to build a new type of power system and implement a "dual-carbon" strategy in the power industry. Its main business revolves around digital power grid layout, using technologies such as "micro-sensing + edge computing + data fusion" based on physical grids, supporting the business applications of power enterprises throughout the production and operation process, and constructing a digital framework that integrates "cloud-management-edge-end-core". This promotes optimization of power grid production and operation by utilizing data as a production factor in all aspects of the power system, enabling efficient and scientific decision-making using digital technologies such as AI and big data, covering key areas of the power system such as generation, transmission, transformation, distribution, and consumption. The company focuses on breaking through "bottleneck" technologies and achieving independent controllability. It has developed the "Dianhong" internet of things operating system for the power industry, launched the independently controllable "Dawatt" AI large model for the power industry, and successfully developed the "Fuxi" special control chip for power, promoting the transformation of China's energy control chip from "imported general" to "independently specialized". Its achievements have been selected as one of the "Ten Giants of the Nation" by the State-owned Assets Supervision and Administration Commission of the State Council in 2021. The company has independently developed the world's first set of micro-intelligent current sensors, overcoming high-end sensor technology challenges in the power industry in China. Its performance of domestically produced electric network security situational awareness systems reaches a leading level. The company has been involved in 13 national key research and development projects, major national science and technology projects, and 1 provincial key research and development project. After years of development, the company has established cooperation with many central enterprises and industry leading customers such as State Grid Corporation of China, Inner Mongolia Power Group, China Huaneng Group, China Huadian Corporation, China Nuclear Power Corporation, China Three Gorges Corporation, State Power Investment Corporation, China Railway Construction Corporation, China Railway Group Limited, Beijing Energy Group, Guangzhou Investment Corporation, NavInfo Co., Ltd. Financially, in the year 2022, 2023, 2024, and January-June 2025, the company achieved operating revenues of approximately 5.686 billion yuan, 4.234 billion yuan, 6.09 billion yuan, and 1.558 billion yuan respectively. During the same period, the company's net profits were approximately 653 million yuan, 377 million yuan, 574 million yuan, and 15.47 million yuan respectively.