Inspur Electronic Info Industr
- Отрасль
- Enterprise IT & Servers
- Биржа
- Шэньчжэнь
- Страна / Регион
- China
- Дата IPO
- 24 апреля 2000 г.
- Сотрудники
- 6 896
- Сайт
- www.inspur.com
Сводный диапазон оценки · консервативный ¥36–¥42 / справедливый ¥48–¥58 / оптимистичный ¥64–¥76. При ¥85.31, Выше оптимистичного потолка · будущий рост уже исчерпан.
На момент публикации ¥57.86 (14 июня 2026 г.)
Данные EODHD, показаны в валюте отчётности; только для справки, не является инвестиционной рекомендацией.
Inspur Electronic Information Industry Co., Ltd., together with its subsidiaries, provides cloud computing and big data services in China and internationally. The company offers computing equipment, including storage, intelligent network, and cloud operating systems; software products, such as intelligent ERPs, enterprise and industry PaaS platforms, and databases; government and enterprise cloud services; and industrial internet products comprising industrial internet platform, safety, communication, equipment, application, supply chain, and equipment health management. It also provides comprehensive data management; mobile private and all-optical networks, 5G router, IoT gateways, and edge desktop cloud; intelligent terminals, which include display, zero-carbon, and service terminals, as well as intelligent robots; and software and information technology outsourcing and data center services. In addition, the company is involved in the development, production, and sale of computer hardware, software, and auxiliary equipment, as well as parts and electronic components; import and export; software technology development; and repair services. It serves manufacturing, metallurgy, chemical, telecommunications, food, building, water affairs, smart city, business, energy, healthcare, park, highway, urban rail, civil aviation, port and shipping, agriculture, water conservancy, education, culture and tourism, and supply chain industries. The company was formerly known as Langchao Electronic Information Industry Co., Ltd. and changed its name to Inspur Electronic Information Industry Co., Ltd. in April 2006. Inspur Electronic Information Industry Co., Ltd. was founded in 1998 and is headquartered in Jinan, China.
История
Inspur Electronic Information Industry Co., Ltd. was founded in 1998 and is headquartered in Jinan, China; according to its IPO prospectus it was established on October 28, 1998, with founders including Inspur Electronic Information Industry Group, Yantai Dongfang Electronic Information Industry Group, and Beijing Suantong Technology. It was formerly known as Langchao Electronic Information Industry Co., Ltd. and changed its name to Inspur Electronic Information Industry Co., Ltd. in April 2006. The company listed on the Shenzhen Stock Exchange on June 8, 2000 (IPO date April 24, 2000) with 58.5 million tradable shares under code 0977 at an issue price of RMB 7.71. Its revenue trajectory spans three phases: a traditional-server expansion period (revenue grew from RMB 63.038 billion in 2020 to RMB 69.525 billion in 2022, with RMB 65.867 billion in 2023), an AI-server ramp in which 2024 revenue jumped to RMB 114.767 billion (up 74.24%), and a domestic-computing-substitution phase in which 2025 revenue reached RMB 164.782 billion (up 43.25%) with net profit of RMB 2.413 billion (up 5.20%). In 2025 the company released the Yuannao SD200 (single-machine 64-way high-speed unified interconnect of domestic AI chips, able to host a single model of up to 4 trillion parameters) and the Yuannao HC1000 (inference cost first brought below RMB 1 per million tokens), and states its Yuannao AI systems support more than 30 AI chips. The U.S. added Inspur Group to its Entity List in 2023 and added Inspur Electronic Information Industry Co., Ltd. in 2025 with Footnote 4. In Q1 2026 revenue was RMB 35.470 billion (down 24.30%) and net profit attributable to the parent was RMB 605 million (up 30.74%). The company has 6,896 employees.
Положение в отрасли
Inspur is a leading server and AI-computing-infrastructure original equipment manufacturer (OEM) in China, monetizing through large-scale delivery of computing infrastructure at low gross margins. In 2025 server-product revenue was RMB 154.605 billion, or 93.82% of total revenue, while storage and switching products contributed RMB 9.771 billion (5.93%); the business depends on massive hardware shipments rather than high-margin software subscriptions or chip IP. Server-product gross margin fell to 4.52% in 2025 from 6.76% in 2024, and composite gross margin was about 4.88%, indicating its strength lies in fulfillment capability rather than pricing power. Its position rests on factual sources of advantage: scale and supply-chain organization (products and services covering more than 100 countries and regions, with a global R&D and manufacturing network); heterogeneous-ecosystem adaptation (its Yuannao AI platform supports more than 30 AI chips); liquid-cooling and high-density cluster experience (citing IDC, it ranked first in China's liquid-cooling server market in 2024 with 35.5% of sales and 34.2% of shipments); and key-customer relationships (it was a candidate winner in Industrial and Commercial Bank of China's 2025 domestic-chip server procurement). Within the AI-infrastructure value chain the profit pool concentrates upstream in chips, network interconnect, and some system software rather than in midstream OEM assembly. Domestic peers include Sugon (more oriented toward high-performance computing and domestic-computing solutions), Unisplendour/H3C (an enterprise-grade ICT platform with deep channels and broad solutions), while Dell (FY2026 revenue $113.5 billion, operating cash flow $11.2 billion, ISG revenue $60.8 billion) is a global infrastructure reference with stronger cash generation, Super Micro represents the high-elasticity, high-financing-need AI-server profile, and NVIDIA sits upstream in the GPU profit pool.
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