国海证券计算机行业首席分析师刘熹：超节点产业爆发在即 回调或是布局良机

2026-08-02 · 智航配资

жүӢжңәжҹҘзңӢиҙўз»Ҹеҝ«и®Ҝ дёҖжүӢжҺҢжҸЎеёӮеңәи„үжҗҸ гҖҖгҖҖ2026дё–з•Ң дәәе·ҘжҷәиғҪ еӨ§дјҡпјҲWAICпјүдёҠпјҢ еҚҺдёәжҳҮи…ҫ 950и¶…иҠӮзӮ№пјҲAtlas 950 SuperPoDпјүзңҹжңәйҰ–ж¬Ўе…¬ејҖдә®зӣёгҖӮи

жүӢжңәжҹҘзңӢиҙўз»Ҹеҝ«и®Ҝ

дёҖжүӢжҺҢжҸЎеёӮеңәи„үжҗҸ

гҖҖгҖҖ2026дё–з•Ң дәәе·ҘжҷәиғҪ еӨ§дјҡпјҲWAICпјүдёҠпјҢ еҚҺдёәжҳҮи…ҫ 950и¶…иҠӮзӮ№пјҲAtlas 950 SuperPoDпјүзңҹжңәйҰ–ж¬Ўе…¬ејҖдә®зӣёгҖӮиҝҷеҸ°жҗӯиҪҪ1024еј жҳҮи…ҫNPUгҖҒжӢҘжңү256TBе…ЁеұҖз»ҹдёҖеҶ…еӯҳзј–еқҖз©әй—ҙгҖҒTBзә§дә’иҒ”еёҰе®ҪдёҺ3ОјsпјҲеҫ®з§’пјүи¶…дҪҺ时延зҡ„вҖңз®—еҠӣе·Ёе…ҪвҖқпјҢжҲҗдёәеӨ§жЁЎеһӢж—¶д»ЈAIеҹәзЎҖи®ҫж–Ҫз«һдәүзҡ„ж Үеҝ—жҖ§жіЁи„ҡгҖӮ

гҖҖгҖҖе°ұеңЁдә§дёҡз«Ҝй«ҳжӯҢзҢӣиҝӣзҡ„еҗҢж—¶пјҢAиӮЎз§‘жҠҖжқҝеқ—еҚҙд»Һ6жңҲжң«ејҖе§ӢйҒӯйҒҮеү§зғҲи°ғж•ҙгҖӮжө·еӨ–Metaе®Јеёғи®ЎеҲ’еҜ№еӨ–еҮәз§ҹй—ІзҪ®AIз®—еҠӣзҡ„ж¶ҲжҒҜпјҢжӣҙеј•еҸ‘е…Ёзҗғиө„жң¬еёӮеңәеҜ№вҖңз®—еҠӣиҝҮеү©вҖқзҡ„жӢ…еҝ§гҖӮ

гҖҖгҖҖдә§дёҡзҡ„еҠ йҖҹеәҰдёҺеёӮеңәзҡ„еү§зғҲжіўеҠЁеҪўжҲҗйІңжҳҺеҸҚе·®гҖӮж—ҘеүҚпјҢ еӣҪжө·иҜҒеҲё и®Ўз®—жңә иЎҢдёҡйҰ–еёӯеҲҶжһҗеёҲеҲҳзҶ№еңЁжҺҘеҸ—дёӯеӣҪиҜҒеҲёжҠҘи®°иҖ…дё“и®ҝж—¶иЎЁзӨәпјҢ2026е№ҙжҳҜеҹәдәҺеӣҪдә§дҫӣеә”й“ҫзҡ„еӣҪдә§ AIиҠҜзүҮ ж”ҫйҮҸе…ғе№ҙпјҢ2025е№ҙиҮі2028е№ҙеӣҪдә§и¶…иҠӮзӮ№еёӮеңә规模е№ҙеқҮеӨҚеҗҲеўһй•ҝзҺҮжңүжңӣиҫҫеҲ°341%гҖӮеҪ“еүҚ科жҠҖжқҝеқ—зҡ„еӣһи°ғжӣҙеӨҡжҳҜзҹӯжңҹдәӨжҳ“еұӮйқўеӣ зҙ зҡ„йҮҠж”ҫпјҢи¶…иҠӮзӮ№дә§дёҡзҡ„й•ҝжңҹйҖ»иҫ‘并жңӘеҸ‘з”ҹж №жң¬жҖ§еҸҳеҢ–пјҢеӣһи°ғд№ӢдёӢжҲ–жҒ°жҒ°дёәжҠ•иө„иҖ…жҸҗдҫӣдәҶжҠҠжҸЎз»“жһ„жҖ§жңәйҒҮзҡ„зӘ—еҸЈгҖӮ

гҖҖгҖҖ дәӨжҚўиҠҜзүҮжҳҜи¶…иҠӮзӮ№дёӯжһўзҘһз»Ҹ

гҖҖгҖҖвҖңжңӘжқҘз®—еҠӣзҡ„з«һдәүпјҢ并дёҚеҸӘжҳҜеҚ•йў—иҠҜзүҮеі°еҖјжҖ§иғҪзҡ„з«һдәүпјҢжӣҙжҳҜе°ҶеӨ§йҮҸи®Ўз®—гҖҒеӯҳеӮЁдёҺзҪ‘з»ңиө„жәҗй«ҳж•Ҳз»„з»Үиө·жқҘзҡ„зі»з»ҹиғҪеҠӣд№ӢдәүгҖӮвҖқгҖҠи¶…иҠӮзӮ№е®ҡд№үдёҺе®һи·өзҷҪзҡ®д№ҰгҖӢдёӯзҡ„иҝҷдёҖи®әж–ӯпјҢжӯЈеңЁжҲҗдёәиЎҢдёҡе…ұиҜҶгҖӮ

гҖҖгҖҖеңЁеҲҳзҶ№зңӢжқҘпјҢи¶…иҠӮзӮ№дёҺдј з»ҹAIжңҚеҠЎеҷЁзҡ„жң¬иҙЁеҢәеҲ«еңЁдәҺпјҡи¶…иҠӮзӮ№еңЁеҗҢдёҖдёӘеҹҹйҮҢйқўзҙ§еҜҶж•ҙеҗҲдәҶжӣҙеӨ§ж•°йҮҸ规模зҡ„GPUжҲ– AIиҠҜзүҮ пјҢдё”иҜҘзі»з»ҹе…·еӨҮзј“еӯҳдёҖиҮҙжҖ§гҖҒй«ҳеёҰе®ҪгҖҒдҪҺ延时зӯүзү№жҖ§гҖӮд»Һи®Ўз®—гҖҒзҪ‘з»ңгҖҒеӯҳеӮЁдёүдёӘз»ҙеәҰжқҘзңӢпјҢи¶…иҠӮзӮ№зҡ„жң¬иҙЁеңЁдәҺеҚ•дёҖGPUеҸҜиҺ·еҫ—зҡ„еӯҳеӮЁе’ҢиҝһжҺҘзӯүиғҪеҠӣеҫ—еҲ°жҳҫи‘—ж”№е–„пјҢз”ұжӯӨеҜјиҮҙе…¶еҚ•дҪҚGPUжҲ–еҚ•дҪҚиғҪиҖ—зҡ„Tokenдә§еҮәиғҪеҠӣжҳҫи‘—жҸҗеҚҮгҖӮиҝҷж„Ҹе‘ізқҖи¶…иҠӮзӮ№еёҰжқҘзҡ„жҳҜзі»з»ҹзә§зҡ„ж•ҲзҺҮи·ғеҚҮпјҢиҖҢйқһз®ҖеҚ•зҡ„иҠҜзүҮе ҶеҸ гҖӮ

гҖҖгҖҖд»Ҙ еҚҺдёәжҳҮи…ҫ 950и¶…иҠӮзӮ№дёәдҫӢпјҢе…¶еҹәдәҺзҒөиЎўдә’иҒ”еҚҸи®®е®һзҺ°дёҡз•ҢжңҖеӨ§и§„жЁЎзҡ„1024еҚЎй«ҳйҖҹдә’иҒ”пјҢ256TBи·Ёзү©зҗҶиҠӮзӮ№еҶ…еӯҳз»ҹдёҖзј–еқҖз©әй—ҙпјҢи®©д»»дҪ•NPUйғҪеҸҜд»ҘеғҸи®ҝй—®жң¬ең°еҶ…еӯҳдёҖж ·зӣҙжҺҘиҜ»еҶҷиҝңз«Ҝж•°жҚ®пјҢеҸ еҠ TBзә§дә’иҒ”еёҰе®ҪдёҺ3Ојsи¶…дҪҺRTT时延пјҢ йҖҡдҝЎ ејҖй”Җиў«еҺӢзј©еҲ°жһҒиҮҙгҖӮ

гҖҖгҖҖеңЁиҝҷдёҖжһ¶жһ„еҲӣж–°дёӯпјҢдәӨжҚўиҠҜзүҮеӨ„дәҺж ёеҝғең°дҪҚгҖӮеҲҳзҶ№иЎЁзӨәпјҢдәӨжҚўиҠҜзүҮжҳҜи¶…иҠӮзӮ№зі»з»ҹеҲӣж–°зҡ„жңҖе…ій”®зӘҒз ҙзӮ№д№ӢдёҖгҖӮд»Ҙ иӢұдјҹиҫҫ дёәдҫӢпјҢе…¶йҖҡиҝҮNVLinkе®һзҺ°дәҶGPUд№Ӣй—ҙзҡ„й«ҳйҖҹдә’иҒ”пјҢйҖҡиҝҮNVLink-C2Cе®һзҺ°дәҶCPUдёҺGPUзҡ„иҝһжҺҘгҖӮеҖјеҫ—е…іжіЁзҡ„жҳҜпјҢNVLink-C2Cзҡ„硬件дёҖиҮҙжҖ§дҪҝCPUиғҪеӨҹд»Ҙзј“еӯҳзәҝзІ’еәҰзј“еӯҳGPUеҶ…еӯҳпјҢдҪҝGPU-CPUиғҪеӨҹи®ҝй—®еҪјжӯӨзҡ„еҶ…еӯҳиҖҢж— йңҖйЎөйқўиҝҒ移пјҢиҝҷеңЁеә•еұӮжү“йҖҡдәҶејӮжһ„и®Ўз®—зҡ„ж•°жҚ®з“¶йўҲгҖӮ

гҖҖгҖҖд»ҺиЎҢдёҡеЈҒеһ’и§’еәҰзңӢпјҢи¶…иҠӮзӮ№дёӯдәӨжҚўиҠҜзүҮзҡ„ж ёеҝғеЈҒеһ’дҪ“зҺ°еңЁжҖ»зәҝеҚҸи®®гҖҒ硬件и®ҫи®ЎгҖҒзҪ‘з»ңжһ¶жһ„гҖҒиҪҜ件з”ҹжҖҒгҖҒзі»з»ҹе·ҘзЁӢзӯүеӨҡдёӘз»ҙеәҰпјҢе…¶йңҖиҰҒдёҺ AIиҠҜзүҮ гҖҒCPUд»ҘеҸҠOEMзӯүзҺҜиҠӮе®һзҺ°й«ҳеәҰзҙ§еҜҶзҡ„йӣҶжҲҗгҖӮдәӨжҚўиҠҜзүҮ并йқһдёҖдёӘеӯӨз«Ӣзҡ„еҷЁд»¶пјҢиҖҢжҳҜж·ұеәҰеөҢе…Ҙзі»з»ҹзҡ„дёӯжһўзҘһз»ҸпјҢжңӘжқҘеңЁAIз®—еҠӣдёӯзҡ„д»·еҖјеҚ жҜ”жңүжңӣ继з»ӯжҸҗеҚҮгҖӮ

гҖҖгҖҖ еҚғдәҝзә§еёӮеңәејҖеҗҜе…ғе№ҙ

гҖҖгҖҖдә§дёҡзҡ„зҲҶеҸ‘еҠӣжӯЈд»ҺиҝңжҷҜеҠ йҖҹиө°еҗ‘зҺ°е®һгҖӮеҲҳзҶ№жҳҺзЎ®е°Ҷ2026е№ҙе®ҡд№үдёәвҖңеҹәдәҺеӣҪдә§дҫӣеә”й“ҫзҡ„еӣҪдә§AIиҠҜзүҮж”ҫйҮҸе…ғе№ҙвҖқпјҢ并еҲӨж–ӯ2026е№ҙдёӢеҚҠе№ҙеӣҪдә§и¶…иҠӮзӮ№е°ҶжӯЈејҸиҝӣе…Ҙ规模еҢ–ж”ҫйҮҸйҳ¶ж®өпјҢжңӘжқҘ2иҮі3е№ҙзҡ„еўһй•ҝйҖҹеәҰзӣёеҪ“еҸҜи§ӮгҖӮ

гҖҖгҖҖз»ҸиҝҮеҲқжӯҘжөӢз®—пјҢеҲҳзҶ№еӣўйҳҹйў„и®Ў2026иҮі2028е№ҙеӣҪдә§и¶…иҠӮзӮ№еёӮеңә规模е°ҶеҲҶеҲ«иҫҫеҲ°889дәҝе…ғгҖҒ4151дәҝе…ғгҖҒ11089дәҝе…ғпјҢ2025иҮі2028е№ҙеёӮеңә规模е№ҙеқҮеӨҚеҗҲеўһй•ҝзҺҮй«ҳиҫҫ341%гҖӮиҝҷдёҖзҲҶеҸ‘ејҸеўһй•ҝзҡ„ й©ұеҠЁеҠӣ пјҢдё»иҰҒжқҘиҮӘдә’иҒ”зҪ‘гҖҒж”ҝеәңжҷәз®—дёӯеҝғзӯүеёӮеңәеҜ№и¶…иҠӮзӮ№з®—еҠӣзҡ„йңҖжұӮйҮҠж”ҫгҖӮ

гҖҖгҖҖд»Һдә§дёҡй“ҫе…ЁжҷҜжқҘзңӢпјҢи¶…иҠӮзӮ№зҡ„еӨҚжқӮеәҰиҝңи¶…дј з»ҹжңҚеҠЎеҷЁгҖӮеҲҳзҶ№д»Ӣз»ҚпјҢзӣ®еүҚ иӢұдјҹиҫҫ еҚ•дёҖи¶…иҠӮзӮ№дёӯзҡ„组件数йҮҸе·ІиҫҫеҲ°зҷҫдёҮдёӘж•°йҮҸзә§пјҢж¶үеҸҠ еҚҠеҜјдҪ“ гҖҒ PCB гҖҒе…үжЁЎеқ—гҖҒз”өжәҗгҖҒж¶ІеҶ·гҖҒиҝһжҺҘеҷЁзӯүдј—еӨҡ组件гҖӮдә§дёҡй“ҫж¶өзӣ–дёҠжёёзҡ„ еҚҠеҜјдҪ“ и®ҫеӨҮгҖҒжқҗж–ҷгҖҒе°ҒжөӢгҖҒжҷ¶еңҶеҲ¶йҖ пјҢдёӯжёёзҡ„ICи®ҫи®ЎеҸҠеӨ§йҮҸ组件пјҢд»ҘеҸҠдёӢжёёзҡ„з»„иЈ…гҖҒжөӢиҜ•гҖҒй”Җе”®гҖҒ дә‘и®Ўз®— зӯүзҺҜиҠӮгҖӮд»ҘеҚ•дёҖи¶…иҠӮзӮ№BOMжһ„жҲҗеҲҶжһҗпјҢж ёеҝғзҡ„GPUгҖҒ еӯҳеӮЁиҠҜзүҮ гҖҒдәӨжҚўиҠҜзүҮгҖҒCPUзӯү еҚҠеҜјдҪ“ д»ҚеҚ ж•ҙдҪ“зҡ„з»қеӨ§йғЁеҲҶжҜ”дҫӢпјҢж•ЈзғӯгҖҒ PCB гҖҒз”өжәҗгҖҒз»„иЈ…зӯүеҲҶеҲ«еҚ жҚ®дёҖе®ҡжҜ”дҫӢгҖӮйҡҸзқҖи¶…иҠӮзӮ№жҢҒз»ӯжј”иҝӣеҚҮзә§пјҢ еӯҳеӮЁиҠҜзүҮ гҖҒдәӨжҚўиҠҜзүҮгҖҒ PCB гҖҒж¶ІеҶ·ж•ЈзғӯгҖҒ MLCC зӯүзҺҜиҠӮзҡ„еј№жҖ§жҲ–жӣҙдёәжҳҺжҳҫгҖӮ

гҖҖгҖҖйҡҸзқҖеӣҪдә§й«ҳйҖҹдә’иҒ”дҪ“зі»еҠ йҖҹе®Ңе–„пјҢиҝ‘е№ҙжқҘиҠҜзүҮгҖҒжңҚеҠЎеҷЁгҖҒдә‘гҖҒICTеҺӮе•ҶйӣҶдёӯеҸ‘еёғиҮӘз ”и¶…иҠӮзӮ№пјҢеҚҺдёәгҖҒйҳҝйҮҢгҖҒ дёӯ科жӣҷе…ү зӯүеқҮжҺЁеҮәиҮӘз ”ж•ҙжңәпјҢ дёӯ科жӣҷе…ү е®һзҺ°10дёҮеҚЎйӣҶзҫӨйғЁзҪІпјҢ еҚҺеӢӨжҠҖжңҜ и®ўеҚ•йҖҗжёҗејҖе§Ӣжү№йҮҸиҗҪең°гҖӮ

гҖҖгҖҖжҚ®еҲҳзҶ№д»Ӣз»ҚпјҢеңЁдәӨжҚўиҠҜзүҮиҝҷдёҖж ёеҝғзҺҜиҠӮпјҢд»Ҙд»ҘеӨӘзҪ‘SwitchпјҲдәӨжҚўжңәпјүе’ҢPCIe SwitchдёәдҫӢпјҢиҷҪ然зӣ®еүҚеёӮеңәе‘ҲзҺ° еҚҡйҖҡ е…¬еҸёдёҖ家зӢ¬еӨ§зҡ„з«һдәүж јеұҖпјҢдҪҶеӣҪеҶ…дәӨжҚўиҠҜзүҮеҺӮе•ҶиҝҪиө¶зҡ„жӯҘдјҗ并жңӘеҒңжӯҮпјҢеӨҡ家еҺӮе•ҶжӯЈеңЁз§ҜжһҒжҺЁиҝӣдәӨжҚўиҠҜзүҮзҡ„з ”еҸ‘гҖӮжңӘжқҘпјҢйҡҸзқҖеӣҪдә§еҚҠеҜјдҪ“дә§дёҡй“ҫз”ҹжҖҒж•ҙдҪ“еҙӣиө·пјҢеӣҪдә§SwitchеҜ№еӣҪйҷ…е…Ҳиҝӣж°ҙе№ізҡ„иҝҪиө¶жңүжңӣеҠ йҖҹгҖӮвҖңдәӨжҚўиҠҜзүҮж—ўжҳҜеҪ“еүҚе·®и·қжңҖжҳҺжҳҫзҡ„зҺҜиҠӮд№ӢдёҖпјҢд№ҹжҳҜеӣҪдә§еҢ–жңҖе…·жҲҳз•Ҙж„Ҹд№үзҡ„зӘҒз ҙж–№еҗ‘гҖӮвҖқеҲҳзҶ№иҜҙгҖӮ

гҖҖгҖҖ жҠҠжҸЎз»“жһ„жҖ§жҠ•иө„жңәйҒҮ

гҖҖгҖҖ7жңҲд»ҘжқҘзҡ„科жҠҖиӮЎж·ұеәҰеӣһи°ғд»ӨеёӮеңәжғ…з»ӘжүҝеҺӢгҖӮеңЁеҲҳзҶ№зңӢжқҘпјҢиҝҷ并дёҚж”№еҸҳи¶…иҠӮзӮ№дә§дёҡй“ҫзҡ„дёӯй•ҝжңҹжҠ•иө„д»·еҖјпјҢеӣһи°ғд№ӢдёӢжҒ°жҒ°дёәжҠ•иө„иҖ…жҸҗдҫӣдәҶе®Ўи§Ҷдә§дёҡи¶ӢеҠҝгҖҒеёғеұҖз»“жһ„жҖ§жңәйҒҮзҡ„зӘ—еҸЈгҖӮ

гҖҖгҖҖд»ҺжҠ•иө„дё»зәҝжқҘзңӢпјҢеҲҳзҶ№е°Ҷи¶…иҠӮзӮ№дә§дёҡй“ҫжўізҗҶдёәеҮ еӨ§ж–№еҗ‘пјҡйҰ–е…ҲжҳҜж ёеҝғеҚҠеҜјдҪ“дә§дёҡй“ҫпјҢж¶өзӣ–AIиҠҜзүҮгҖҒ еӯҳеӮЁиҠҜзүҮ гҖҒSwitchгҖҒCPUгҖҒDPUгҖҒзҪ‘еҚЎеҸҠе…¶дёҠжёёзҡ„жҷ¶еңҶд»Је·ҘгҖҒе°ҒжөӢгҖҒи®ҫеӨҮзӯүзҺҜиҠӮпјӣе…¶ж¬ЎжҳҜи¶…иҠӮзӮ№е…¶д»–组件пјҢеҢ…жӢ¬е…үжЁЎеқ—гҖҒPCBгҖҒж¶ІеҶ·гҖҒз”өжәҗгҖҒ MLCC гҖҒиҝһжҺҘеҷЁзӯүпјӣ第дёүжҳҜдёӢжёёж•ҙжңәдёҺ дә‘и®Ўз®— пјҢж¶өзӣ–и¶…иҠӮзӮ№OEMж•ҙжңәз»„иЈ…д»ҘеҸҠ дә‘и®Ўз®— дёҺз®—еҠӣ з§ҹиөҒ зӯүгҖӮ

гҖҖгҖҖеҲҳзҶ№е°Өе…¶зңӢеҘҪеӨҙйғЁж•ҙжңәеҺӮе•ҶеҸҠе…Ёдә§дёҡй“ҫзҡ„жҠ•иө„жңәдјҡгҖӮд»–жҢҮеҮәпјҢи¶…иҠӮзӮ№йӣҶжҲҗй«ҳйҖҹдә’иҒ”гҖҒж¶ІеҶ·гҖҒж•ҙжңәз»“жһ„и®ҫи®ЎпјҢжҠҖжңҜй—Ёж§ӣжҳҫи‘—й«ҳдәҺдј з»ҹжңҚеҠЎеҷЁпјҢеӨҙйғЁOEMд»ҪйўқдёҺжҜӣеҲ©зҺҮжңүжңӣжҸҗеҚҮгҖӮеұ•жңӣжңӘжқҘпјҢи¶…иҠӮзӮ№жңүжңӣеҗ‘жӣҙеӨ§и§„жЁЎзҡ„йӣҶжҲҗгҖҒжӣҙй«ҳзҡ„дә’иҒ”еёҰе®ҪгҖҒжӣҙејәзҡ„и¶…зә§иҠҜзүҮзӯүж–№еҗ‘жҢҒз»ӯжј”иҝӣеҚҮзә§пјҢе…¶дёӯеҚҠеҜјдҪ“гҖҒе…үжЁЎеқ—гҖҒPCBгҖҒOEMгҖҒж¶ІеҶ·гҖҒз”өжәҗзӯүзҺҜиҠӮжҲ–е…·еӨҮиҫғеҘҪзҡ„жҠ•иө„жңәдјҡгҖӮ

гҖҖгҖҖеңЁж Үзҡ„йҖүжӢ©дёҠпјҢеҲҳзҶ№жӣҙзңӢйҮҚдёүдёӘж ёеҝғжҢҮж ҮпјҡдёҺCSPзӯүеӨ§е®ўжҲ·зҡ„еҗҲдҪңж·ұеәҰгҖҒдә§иғҪеҸҠжҪңеңЁдҫӣеә”й“ҫдҝқйҡңиғҪеҠӣгҖҒдә§е“Ғз ”еҸ‘иғҪеҠӣдёҺжҠҖжңҜиҝӯд»ЈиҠӮеҘҸгҖӮ

гҖҖгҖҖдёҺжӯӨеҗҢж—¶пјҢи¶…иҠӮзӮ№еӨ§и§„жЁЎиҗҪең°иҝҮзЁӢдёӯзҡ„йЈҺйҷ©дәҰдёҚе®№еҝҪи§ҶгҖӮеҲҳзҶ№жҸҗйҶ’пјҢз»„иЈ…з”ҹдә§иүҜзҺҮдёҚеҸҠйў„жңҹгҖҒж ёеҝғеҺҹжқҗж–ҷдҫӣз»ҷдёҚи¶ігҖҒжңәжҹңж•Јзғӯж•ҲзҺҮиҫғдҪҺгҖҒ з”өеҠӣ дҫӣз»ҷдёҚи¶іпјҢд»ҘеҸҠи¶…йӣҶзҫӨ规模жҢҒз»ӯжү©еӨ§еёҰжқҘзҡ„иҝҗз»ҙдёҺз®ЎзҗҶйҡҫеәҰжҸҗеҚҮпјҢйғҪжҳҜд»Һе®һйӘҢе®Өиө°еҗ‘规模еҢ–йғЁзҪІеҝ…йЎ»йҖҫи¶Ҡзҡ„е·ҘзЁӢйҡҫе…ігҖӮ

гҖҖгҖҖеҜ№дәҺиЎҢдёҡж јеұҖзҡ„жј”еҸҳи¶ӢеҠҝпјҢеҲҳзҶ№еҲӨж–ӯпјҢи¶…иҠӮзӮ№зҡ„ж ёеҝғз«һдәүеҠӣеңЁдәҺеҚҠеҜјдҪ“жҖ§иғҪгҖҒеӨҡиҠҜзүҮж·ұеәҰйӣҶжҲҗеҸҠзі»з»ҹе·ҘзЁӢзӯүиғҪеҠӣгҖӮеӣ жӯӨпјҢе…·еӨҮз”ҹжҖҒе№іеҸ°иғҪеҠӣзҡ„еҚҠеҜјдҪ“еҺӮе•ҶгҖҒе…·еӨҮеӨ§и§„жЁЎй«ҳиҙЁйҮҸзі»з»ҹз»„иЈ…иғҪеҠӣзҡ„OEMеҺӮе•ҶгҖҒдёҺдә§дёҡй“ҫдёҠдёӢжёёзҙ§еҜҶеҚҸеҗҢзҡ„组件еҺӮе•Ҷд»ҘеҸҠе…·еӨҮзӢ¬зү№зЁҖзјәз«һдәүеҠӣзҡ„еӯҗйўҶеҹҹеҺӮе•ҶжңүжңӣжҢҒз»ӯеҸ—зӣҠгҖӮд»Һдёӯжңҹз»ҙеәҰзңӢпјҢиЎҢдёҡйӣҶдёӯеәҰжҲ–иҝӣдёҖжӯҘжҸҗеҚҮпјҢеӨҙйғЁдјҒдёҡзҡ„з«һдәүдјҳеҠҝжңүжңӣиҝӣдёҖжӯҘе·©еӣәгҖӮ

пјҲж–Үз« жқҘжәҗпјҡдёӯеӣҪиҜҒеҲёжҠҘпјү

зӮ№еҮ»еә•йғЁзҡ„вҖңеҸ‘зҺ°вҖқ

дҪҝз”ЁвҖңжү«дёҖжү«вҖқ

еҚіеҸҜе°ҶзҪ‘йЎөеҲҶдә«иҮіжңӢеҸӢеңҲ

жү«жҸҸдәҢз»ҙз Ғе…іжіЁ

дёңж–№иҙўеҜҢе®ҳзҪ‘еҫ®дҝЎ