资源描述
|1 2 2025 50%IT 45%IT 43%IT PUE 2023 6 5 2023 2024 10%2025 50%2025 45%PCS BMS EMS GGII 2025 45%1(002837)(872808)(603912)(301018)(300990)(300499)2 IDC(300017)(002335)(300442)/2023 06 08 021-63325888*6085 S0860514090001 BRW773 021-63325888*6118 S0860515100003 021-63325888*3206 S0860520090002 BMO306 2023-06-05 2023-05-22 800G 2022 2023 2023-05-14 2.5 1.1.5 1.2.5 6 6.7.8 2.1.8 2.2.11.15 3.1“”2025 50%.15 3.2 2025 45%.17.20 4.1.20 4.2.21 4.3.21 4.4.22 4.5.22 4.6.23 4.7.24 4.8.24 4.9.25.25 XVAZyRrMoNpOpRpMqNrOqR8OcM9PoMoOsQpMkPmMqOkPmMwP9PoOyQNZmRtNvPrRwP 3 1.5 2.6 3.6 4.6 5.8 6.9 7.9 8.11 9 2008.11 10.11 11.11 12.12 13 1.5C.13 14 4.13 15.15 16.16 17.16 18 2020.16 19 2019-2025.17 20.18 21 S.18 22.19 23.19 24.19 25 BattCool 2.0.21 26.21 27 PUE 1.01-1.02.21 28.22 29.22 30.23 31.24 32.25 1.7 4 2.8 3 PUE.10 4.14 5.17 6.20 7 2022.23 5 1.1 PUE Power Usage Effectiveness CDU CDU t Td CDU 2 1 1.2 CPU 6 CDU CDU 2 1 2 IT 3 4 7 IT 1 2 3 1 PUE 1.11.3 PUE 1.051.1 100%PUE 8 2.1 IT IT IT 45%IT 43%5 10-120kW PUE 1.004kJ/(kg k)4.2 kJ/(kg k)1110 kJ/(kg k)88kJ/kg 2 45%43%10%2%0%5%10%15%20%25%30%35%40%45%50%IT 9 1000 PUE 2.2 PUE 1.2 PUE&2017-2021 166 520 30%83 420 80.8%2022 540 2017-2020 28%2021 2166 2.6%1.35 1.14%2030 3800 6 7 2.5kW UPS PUE 2017 PUE 1.5 2021 12 2025 PUE 1.3 1.25 2021 PUE 1.5 ChatGPT AIGC 8 0%10%20%30%40%50%60%70%80%90%01002003004005006007008002017 2018 2019 2020 2021 2022E 2.10%2.20%2.30%2.40%2.50%2.60%2.70%2.80%050010001500200025002018 2019 2020 2021(kwh)10 PUE 1.25 PUE 1.2 3 PUE 2017.1 PUE 1.5 2019.2 2022 PUE 1.4 1.8 2021.7 2021-2023 2021 PUE 1.35 2023 PUE 1.3 1.25 2021.10 2025 PUE 1.5 2021.12 5G 2025 PUE 1.3 1.25 PUE 1.5 2022.8 2022-2025 2025 PUE 1.3 PUE IT PUE 1 GB50174-2017 A B C 2N A A 2 Uptime Institute 2020 2020 71%10kW/2017 5.6kW/2011 2.4Kw/20kW/16%8-10kW/IT CPU 11 TDP 2019 205W 270W 2023 350W 8 9 2008 10 Colocation America 2.2 PCS BMS EMS 1 2 11 0510152025302008 2016 2020E 2023E 2025E kW 0%5%10%15%20%25%30%35%40%02004006008001000120014002019 2020E 2021E 2022E 2023E 2024E 2025E 12 1 0 60%70%20 20%40%2 1 60 d 3 SEI SEI 10-35 12 13 5 13 1.5C 1 2 3 4 14 4 14 4+1 3000 25 2 2-3 3-5 50%3 S 40 3.44MWh 40 6.88 MWh 40%1 MWh GWh 2022 4 200MW/400MWh 2022 9 500MWh 30 12.2GW/33GWh 15 2 4 12 30 15 3.1 2025 50%70 IBM System 360 2008-2009 IBM Power 575 2011 2013 15 PUE 1.04 CPU 10 10-30%100%30%85%2022 4 16 2020 PUE 1.09 IDC Immersion DC 1000 PUE1.09 16 17 2020 18 2020 2019 6 5 31 1 2023 2 2024 10%3 2025 50%17 19 2019-2025 3.2 2025 45%5 EnerOne 2020 BYD Cube 2020.8-2021.4 2021.4 E30 2021.5 TELOGY 1500V 2021.6 2021.1 S3 2022.5 PowerTitanPowerStack 2022.5 35kV 2022.7 Aqua 2023.4 MUSE1.0 2022.6 2022.9 CenterL 2022.9 18 TrinaStorage Elementa 2022.11 PowerBank 2022 Serlattice 2022.6 20 S 1 IP67+pack+2 6%99%pack 5 pack 3 13%3 100%40 6.88 MWh 10MW/20MWh 40%2%21 S 19 0.09/wh 0.025/wh 1 40 3.5MWh 4 12.5kw 2.2 8.8 0.025/wh GWh 2500 2 40 5-6MWh 2 40kw 27 54 0.09/wh GWh 9000 22 23 GGII 2021 24 2025 165 2025 45%24 20 GGII pack 6 2020 2020 数据来源：GGII，东方证 券研究 所 1 2 IDC 4.1 2020 2022 11 3 BattCool 2.0 0%5%10%15%20%25%30%35%40%45%50%0204060801001201401601802021 2022E 2023E 2024E 2025E 21 2022 8.5+150%25 BattCool 2.0 4.2 10 200MW 2022 C8000 4.29 30%80%50 2018-2022 CAGR 34%CAGR 85%26 27 PUE 1.01-1.02 wind 4.3 2003 01234562019 2020 2021 2022 22 2021 3 2022 PUE 1.25 2021 2022 6.25 6.33%3.62 2.24 28 4.4 SCY 25%50%20%3 10 24 29 4.5 23 2022 1.58 7 2022 80kW,-40 55 15 25 15 5kW 1 7.5kW 2 40kW 2.6 9kW 1 4kW 2.2 UL60335 EMC 4.6 30 24 4.7 IT CDN IDC/MSP PUE 1.049 DLC 31 4.8-CDU CDU 25 32 4.9 2022 3 A2 A5 2021 A3 A6 2022 A7 2022 A-7 43563.14 20kW 50kW 2021 10 A-7 22%26 Tabl e_Disclai mer 12 A 300 500 15%5%15%-5%+5%-5%5%-5%+5%-5%HeadertTabl e_Discl ai mer HeadertTabl e_Address 318 26 021-63325888 021-63326786 Tabl e_Disclai mer
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