HK Stock Market Move | CH SUPPLY CHAIN(03708) massively increased by 50% and signed a memorandum of understanding with Shuwei Technology to develop a new generation data center in Hong Kong.

CH SUPPLY CHAIN (03708) increased by 50% in trading volume, reaching a 50% increase as of the time of writing, with a price of 0.033 Hong Kong dollars and a turnover of 11.1253 million Hong Kong dollars. On the news front, CH SUPPLY CHAIN announced that on November 3, it had signed a memorandum of understanding with Data Dimension Technology Limited (Data Dimension Technology). The main business of Data Dimension Technology is to provide storage, security, and bandwidth solutions (including StreamBox edge systems), as well as compact high-capacity data centers built using authorized Kodon technology. The memorandum records the main intentions of the strategic cooperation. Accordingly, the company will establish a wholly-owned subsidiary in Hong Kong to finance, construct, and operate the next generation data center using Data Dimension Technology's authorized or sublicensed Kodon technology. Kodon technology is described as a data representation technology that can compress files of various formats into a compact "Kodon" (character sequence), with the goal of compressing to less than 1% of the original file size, subject to technical parameters and validation results (referred to as "the technology"). This technology can achieve very high logical storage capacity within a limited physical space. The parties intend to quickly conduct technical, legal, and business due diligence and negotiate a final agreement to document authorization, construction, and operation matters of the data center.