Singularity Kingdom Peak (01280.HK): Securing a position in the domestic computing power gold track, AI transformation moves from concept to substantial profitability

In the wave of comprehensive AI adoption and accelerated domestic computing power substitution, Singularity Guofeng (01280.HK) $QIDIAN GUOFENG(01280.HK) has broken away from the industry misconception of "hitching onto trends and storytelling." With a core strategy of dual-drive by algorithms and computing power, it has completed a critical transformation from a traditional enterprise to an AI computing power service provider through precise asset acquisitions, upstream resource lock-ins, and the landing of large orders. It has carved out a high-quality development path that is implementable, deliverable, and profitable, securing a unique advantageous position in the trillion-yuan computing power market.

Currently, artificial intelligence has become the core engine of the digital economy, and computing power, as the "infrastructure" for AI development, is experiencing explosive growth in market demand. According to statistics from the China Business Industry Research Institute, the scale of China's AI server market in 2024 and 2025 is estimated to be approximately 160.655 billion yuan and 250 billion yuan, respectively, and is expected to further grow to 350 billion yuan in 2026. Against the backdrop of rapid industry expansion and accelerated substitution by domestic chips, companies with capabilities in supply chain integration, solution delivery, and commercialization are facing unprecedented development opportunities. Singularity Guofeng is seizing this historical window, entering the core of the track with a clear layout to achieve leapfrog development.

Acquiring High-Quality Assets to Build a Solid Foundation for Algorithm Commercialization

Singularity Guofeng's AI transformation is not a blind investment in technology R&D, but rather a precise acquisition of high-quality assets with self-sustaining capabilities, based on profitability and maturity standards. In December 2025, the company completed the acquisition of Huiliu, instantly filling the gap in its AI algorithm capabilities.

Huiliu focuses on AI empowerment for interest-based e-commerce, possessing a self-developed algorithm system covering the entire chain of user analysis, content generation, precise ad placement, and private domain operations. More importantly, it has already established a mature business model of technology — service — monetization. Financial data shows that Huiliu achieved revenue of 19.38 million yuan and a net profit of 6.05 million yuan in the first half of 2025. Within half a month of consolidation, it contributed 3.08 million yuan in revenue and 1.58 million yuan in profit, becoming a stable profit growth point for the listed company.

This acquisition allowed Singularity Guofeng to escape the dilemma of "only investing without output" at the beginning of its AI transformation, forming a healthy pattern with technological support and profit assurance. It provides scenarios and algorithmic support for subsequent computing power business, enabling the rapid realization of "soft value."

Securing Upstream Leaders to Lock in the Core Computing Power Supply Chain

After establishing the algorithmic foundation, Singularity Guofeng quickly moved into the computing power hardware segment, addressing the industry's most critical supply chain challenge. In January 2026, its subsidiary, Shanghai Huiliu, reached a deep cooperation agreement with the domestic GPU leader, Muxi Co., Ltd. $MetaX(688802.SH), becoming a non-exclusive leading channel distributor, locking in an annual procurement quota of 2,000 GPUs, corresponding to a potential business scale of approximately 200 million yuan.

As a leading domestic high-performance general-purpose GPU company, Muxi focuses on three main directions: integrated training and inference, general-purpose computing, and graphics rendering. Its revenue for the first three quarters of 2025 reached 1.236 billion yuan, with gross profit margin maintained at a high level of 55.76%, demonstrating excellence in both technology and commercial strength. Through this deep partnership with Muxi, Singularity Guofeng has secured a stable, high-quality supply of computing power chips, ensuring business delivery capability from the source. At the same time, leveraging the endorsement of the industry leader has significantly enhanced its market competitiveness and customer trust.

Thus, the company has formed a complete layout of upstream chip resources + midstream algorithm capabilities, achieving software-hardware synergy and complementary advantages, laying a solid foundation for the large-scale delivery of AI solutions.

2.78 Billion Yuan Third-Party Order Validates Market-Oriented Delivery Capability

After completing the strategic puzzle, Singularity Guofeng made a critical leap from resource integration to market realization with a major order. In March 2026, the company's affiliate signed an AI server sales contract with an independent third party, selling 200 AI servers for a total amount of 278 million yuan.

This order is significant for several reasons: First, the customer is an independent third party, not a related party, fully demonstrating the competitiveness of the company's solutions in the open market. Second, it marks the company's completion of the full-process verification of "chip — integration — delivery," proving its capability for large-scale implementation. Third, it directly contributes substantial revenue, driving rapid optimization of the business structure.

Against the backdrop of the rapidly growing AI server market, this order is not only short-term performance support but also a passport for the company to enter the ranks of mainstream computing power suppliers, laying an important foundation for continuously securing market orders and expanding its customer base in the future.

Differentiated Positioning: A Computing Power System Integrator Close to Customers

Unlike most companies in the industry, Singularity Guofeng has chosen a differentiated positioning: it does not engage in high-investment, long-cycle chip R&D but focuses on the system integration segment of computing power distribution + algorithm empowerment, specializing in transforming upstream technology into "out-of-the-box" integrated solutions for end customers.

This model has three core advantages: Controllable risk, avoiding the massive investment and long payback period of chip R&D, resulting in lower cash flow pressure and higher transformation efficiency; Proximity to demand, directly interfacing with end customers, providing customized services, with significantly higher customer stickiness and pricing power than traditional distributors; Clear commercial logic, leveraging algorithm-based value-added services to achieve dual profitability from hardware sales and technical services, offering broader growth space.

In a market landscape where domestic GPU manufacturers focus on technological breakthroughs and end customers demand one-stop solutions, Singularity Guofeng precisely fills the gap in the middle segment, becoming an indispensable key player in the computing power industry chain. Leveraging mature algorithms, a stable supply chain, and strong delivery capabilities, the company is moving out of the transformation investment phase and entering the performance harvest stage, continuously releasing growth momentum in the high-growth domestic computing power track.