HK Stock Market Move | ITC PROPERTIES (00199) closes up nearly 20%, company initiates AI computing power strategic transformation led by Chao Ya Data's founding elders.

At the close of trading, ITC PROPERTIES (00199) surged with heavy volume, up 19.4% to HK$1.6 with a trading volume of HK$27.6941 million. In terms of news, ITC PROPERTIES recently announced the appointment of senior industry expert Cao Xinwei as Executive Director and General Manager of its wholly-owned subsidiary. Public information shows that Cao Xinwei is the core founder and chairman of Chaoyada Data Center in China, which has attracted investments of over US$200 million from global capital such as Standard Chartered Bank, international data center industry fund Actis, and international private equity giant EQT. His joining is seen by the market as an important signal of De Xiangjian's intention to "recreate a new Chaoyada". Additionally, the company has obtained a rare IDC value-added telecommunications license through the establishment of a VIE agreement control structure with Beijing Qiyuan Zhisan, and has engaged a global law firm to oversee legal compliance, risk isolation, and internal control systems. By adopting a mature framework to address operational challenges for overseas entities in Hong Kong, the company aims to conduct business legally, sign contracts with clients normally, and effectively consolidate financial statements.