ITC NEOCLOUD (00199) plans to acquire an 80% equity stake in Guangzhou Chaoqi Xiyang Technology Co., Ltd. for RMB 83.616 million.

ITC NEOCLOUD (00199) announced that on September 28, 2026 (after trading hours), Beijing Dexiang Zhisuan Holding Co., Ltd., an indirect wholly-owned subsidiary of the Company, intends to acquire an 80% equity interest in Guangzhou Chaoqi Xiyang Technology Co., Ltd. from Ms. Sun Meichen for a cash consideration of RMB 83.616 million. Upon completion, the buyer will hold 80% of the entire equity interest in the target company, while the seller will continue to hold the remaining 20% equity interest in the target company. As at the date of this announcement, the target company has purchased and received 26 high-performance servers, including 24 high-performance servers and 2 high-performance all-in-one machines, and has entered into two computing power scheduling service contracts with an artificial intelligence company (i.e., the customer), with a total contract service fee of RMB 648,960,000 (tax inclusive). The customer is an artificial intelligence infrastructure company located in Shanghai that integrates heterogeneous computing resources and provides large model training, inference, and model-as-a-service solutions. Service delivery and collection of payments under the first contract have commenced. The deposit under the second contract has been received, but the first monthly service fee remains to be collected after completion of the invoicing process. The announcement stated that the Group is establishing an artificial intelligence computing power infrastructure and cloud service platform covering artificial intelligence data center capacity, computing power resources, and computing power service delivery and management. Through this acquisition, the Group will integrate high-performance servers purchased on negotiated commercial terms, the customer's substantial contractual demand, monthly prepayment terms, and project financing. The Directors believe that this combination specifically demonstrates the Group's ability to secure computing power resources, obtain customer commitments, and arrange financing around actual service delivery. This will consolidate the commercial foundation of the Group's business planning across all segments of the artificial intelligence computing power value chain and provide an operational reference for future projects.