Xingyun Technology Co., Ltd. Announcement on Major Contract Signed by Wholly-Owned Subsidiary Shenzhen Xingyun for Daily Operations
The Company and the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or significant omissions.
Special Reminders:
- Conditions for Contract Effectiveness: The contract shall take effect from the date of signing and sealing by both parties. The start date of the computing power service order shall be subject to the notice from Party A and the confirmation date from Party B.
- Major Risks and Uncertainties: The start date of the service order in the contract is currently uncertain. The contract has a relatively long performance period, and revenue will be recognized in installments. There is a risk that both parties may lose their ability to perform due to changes in operating conditions or deterioration of financial status. During the performance of the contract, unforeseen factors such as macroeconomic conditions, industry cycles, and policy changes may lead to a decrease in customer demand, potentially causing delays in procurement and delivery, which may affect the final execution of the contract.
- Impact of Contract Performance on the Company: The signing and performance of this contract will not have a significant impact on the Company's independence. The Company's main business will not become dependent on this contract. If the contract is performed smoothly, it is expected to have a certain impact on the Company's operating results. We kindly remind investors to invest rationally, make prudent decisions, and pay attention to investment risks.
I. Contract Signing Situation
Recently, Xingyun Technology Co., Ltd. (hereinafter referred to as the "Company") and its wholly-owned subsidiary Shenzhen Xingyun Holdings Co., Ltd. (hereinafter referred to as "Shenzhen Xingyun" or "Party B") signed a "Computing Power Service Agreement" with a VB customer (hereinafter referred to as "Party A"). Shenzhen Xingyun will provide computing power services to the VB customer. The agreement service period is 5 years, with a total contract amount (including tax) of RMB 101,376 million.
Shenzhen Xingyun was established on October 17, 2025, with a registered capital of RMB 10 million. The Company holds 100% equity, and it is a wholly-owned subsidiary within the Company's consolidated financial statements.
This contract is a major contract for the Company's daily operations. This matter has been reviewed and approved by the 20th meeting of the Company's Seventh Board of Directors. According to the "Shenzhen Stock Exchange Listed Company Self-Regulation Supervision Guidelines No. 2 - Standardized Operation of GEM Listed Companies" and other relevant regulations, it does not require shareholder approval. This matter does not involve related party transactions, nor does it constitute a major asset restructuring as defined by the "Measures for the Administration of Major Asset Restructuring of Listed Companies."
The "Computing Power Service Agreement" signed this time involves confidentiality clauses. To protect the commercial secrets of both parties, the Company has completed the internal exemption disclosure procedure for confidential information, and some information has been exempted from disclosure.
II. Introduction of the Counterparty
- Basic Information: VB Customer has no relationship with the Company or its top ten shareholders, directors, or senior management in terms of equity, business, assets, or debts, nor does it have any other relationship that may cause the Company to favor its interests.
- Similar Transaction Situation: The Company has not entered into similar transactions with this counterparty in the past three years.
- Analysis of Performance Capability: The counterparty is not a person subject to enforcement for dishonesty and has good performance capabilities.
III. Main Contents of the Contract
(I) Basic Contract Information