Announcement on the Progress of the Supplementary Agreement to the Major Contract Signed by Wholly-owned Subsidiary Shenzhen Xingyun
The Company and the Board of Directors guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or major omissions.
Special Notice
As of the disclosure date of this announcement, the total amount of major contracts related to computing power and storage that have been disclosed by the Company and are currently in effect, including the order specified in this agreement, is RMB 1,540,399 million. If industry regulatory policies, the supply and demand market for computing power and storage, or upstream hardware supply, logistics scheduling, on-site delivery and maintenance, or product quality are significantly affected, or if the company's rapid asset expansion leads to insufficient capital, the original delivery period of the project may be delayed. In the event of delayed delivery or extreme circumstances, the Company may negotiate adjustments with the contracting parties, partially/fully terminate the contract, or transfer related businesses and existing orders. Such changes will affect the timing of the Company's revenue and profit recognition from computing power and storage services. Investors are advised to make rational judgments and pay attention to relevant investment risks.
I. Overview
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") signed a "Computing Power Service Agreement" (hereinafter referred to as the "Original Agreement") with VB Customer. Shenzhen Xingyun provides computing power services to VB Customer. The agreement has a service period of 5 years, with a total tax-inclusive amount of RMB 101,376 million. For specific details, please refer to the "Announcement on the Signing of a Major Contract for Daily Operations by Wholly-owned Subsidiary Shenzhen Xingyun" (Announcement No.: 2026-088). VB Customer is a leading domestic service provider in the ultra-large context track, with self-developed large model foundation capabilities. Due to increased business needs and recognition of the Company's delivery capabilities, VB Customer recently signed a "Supplementary Agreement" with Shenzhen Xingyun. According to the agreement, the number of computing power service units provided by Shenzhen Xingyun will be doubled from 128 units in the original agreement to 256 units. The unit computing power service fee will also be increased, bringing the total computing power service fee to RMB 305,280 million, an increase of 201.14% compared to the original contract amount.
There are no equity, business, asset, debt, or personnel relationships between VB Customer and the Company, its top ten shareholders, directors, or senior management, and there is no situation that harms the interests of small and medium shareholders. The Company has not cooperated with this customer on similar computing power services in the past three years. This customer has no record of dishonest execution of judgments. As a leading enterprise in the large text model field, it has recently secured a large amount of financing, with continuous investment from industrial capital and ample capital reserves, which can provide stable performance support for this five-year long-term computing power cooperation.