[SMM Computing Power News] 10 H200 PCIE original cards for sale in South China, 385,000 each

The index moved sideways today. The highest monthly rental for the H20-96G in the Beijing-Tianjin-Hebei region rose 11.90% to 47,000 yuan. Three signals in domestic computing power: the 910B4 full-unit rental closed at 15,000 yuan/month, lower than the 16,000 yuan/month in the southwest; the 910B2 centralised procurement price was 160,000-180,000 yuan per unit lower than retail; and the A100 80G monthly rental was anchored at 34,000-35,000 yuan. The H200 premium at home and abroad persisted, with 385,000 yuan per card in South China, $48,000 per card in Hong Kong (up about 17%), and $730,000 per unit for 32-unit complete machines from Hong Kong. Domestic pricing stratification accelerated, and awareness of title rights in high-end transactions increased.

SMM has learned that the spot market in Hong Kong, China has released 32 Supermicro H200 servers (HGX 8-GPU version), quoted at $730,000 per unit, approximately 4.9 million yuan, while the same model in mainland China was initially quoted at around 5.35 million yuan per unit. The transaction adopts on-site delivery. SMM believes that the "inspect before payment" delivery model for H200 complete units reflects the importance placed on title verification and equipment condition checks in large-value transactions of high-end complete systems.

SMM has learned that three original H200 PCIE cards were traded in the Hong Kong, China market at $48,000 per card. Compared with SMM's previously collected quotes for the same model in Hong Kong—$41,000 at end-July and $42,000 in mid-August—this transaction price has clearly moved higher. Domestic quotes over the same period were 380,000–385,000 yuan per card. SMM believes that H200 PCIE card prices in Hong Kong have been rising steadily since end-July, and this latest deal reflects an actual transaction rather than a quote, indicating that overseas demand for high-end cards and scarcity premiums are heating up in tandem.