CITIC Securities: Focus on high-growth, low-valuation AI computing power targets.

CITIC Securities Research Report stated that China Mobile's "Super Wan Card Domestic Intelligent Computing Center Project" and "Yangtze River Delta Intelligent Computing Center Project", as well as China Unicom's "Wujiang Computing Power Center Project" have all received filing approvals, with a total investment exceeding 14.1 billion yuan. On April 24th, Google released its 2025Q1 financial report, with capital expenditures of 17.2 billion US dollars, an increase of 43% over the same period last year, while maintaining its annual guidance of 75 billion US dollars in capital expenditures. The company reported a significant increase in the number of users of Google's AI tools. In addition, recently listed companies have disclosed their 2024 reports and 2025 first quarter reports. Based on the financial reports that have been disclosed, companies in the AI computing power industry have shown good performance, confirming that the industry remains in a highly prosperous state. It is recommended to continue monitoring targets with high growth rates and low valuations.