Recently, there has been an interesting investment case worth discussing. A traditional specialty environmentally friendly paper manufacturing company suddenly entered the emerging field of space computing power.

This company is called Shunhao Co., Ltd., and its core business is producing specialty environmentally friendly paper and printing products. Materials like vacuum aluminum-coated paper and laser anti-counterfeiting are their main products. Over the years, their revenue and profits in this segment have remained quite stable. Additionally, they have related layouts in industrial hemp and new tobacco products, which have already formed mature business models.

But the focus of this story isn't on these. In June 2025, Shunhao Co., Ltd. invested 110 million yuan to acquire a stake in a company called Orbit Dawn. What does this company do? It specializes in providing space-based computing services.

Simply put, they have two core business directions:

**Space-based computing**: Providing computational support for satellites or satellite constellations in orbit, making data processing in space more efficient. This segment is expected to develop clear commercial value within five years.

**Ground-based space computing**: Addressing the computational bottlenecks of ground data centers by leveraging space. This is a longer-term route, expected to truly compete with ground data centers in 5-10 years.

Why would a traditional enterprise venture into this field? Because the development of computing power and AI technology has reached a critical point. Space data centers have obvious advantages in energy efficiency and environmental protection, and are seen by many as the ultimate solution for AI computing power.

Of course, risks are also present. The harsh radiation environment in space, the difficulty of maintaining orbits, threats from space debris, along with issues like data governance and space traffic regulation, could all hinder commercialization. This is a high-risk, high-reward gamble.

Interestingly, Shunhao Co., Ltd. isn't the only listed company eyeing the space computing cake. More and more listed companies, after reaching a ceiling in their traditional business growth, are exploring frontier fields like this as a "second growth curve." Such cross-industry investments benefit the companies themselves and also promote technological implementation and scaling of the entire space computing industry.

Industry insiders generally believe that the space computing industry is still in its early stages, but the market prospects are broad. Countries and companies worldwide are racing to deploy their strategies. Whoever can break through technological barriers and establish viable business models first will have the opportunity to dominate this new track. With continuous investment and technological iteration, the deployment speed of space computing applications will accelerate, providing a new solution for global AI computing demands.

From Shunhao Co., Ltd.'s case, the combination of traditional industries and emerging technologies may be opening up new imaginative spaces.