Shenzhen Stock Exchange:
In accordance with the requirements of the "Audit Inquiry Letter Regarding the Application for Issuance of Shares to Specific Targets by Beijing Capitalonline Data Service Co., Ltd." (Audit Letter [2026] No. 020048) (hereinafter referred to as the "Audit Inquiry Letter") issued by your Exchange's Listing Audit Center on May 26, 2026, Beijing Capitalonline Data Service Co., Ltd. (hereinafter referred to as "Capitalonline," the "Issuer," or the "Company"), in conjunction with Ping An Securities Co., Ltd. (hereinafter referred to as the "Sponsor" or "Ping An Securities"), King & Wood Mallesons (hereinafter referred to as "Issuer's Counsel" or "KWM"), and Dahua Certified Public Accountants (Special General Partnership) (hereinafter referred to as "Issuer's Auditor" or "Dahua"), has implemented and verified the issues raised in the Audit Inquiry Letter in accordance with the principles of diligence, honesty, and trustworthiness. The responses are hereby submitted for your review.
Unless otherwise specified, the definitions used in this response are consistent with those in the "Beijing Capitalonline Data Service Co., Ltd. 2026 Prospectus for Issuance of A-Shares to Specific Targets" (hereinafter referred to as the "Prospectus").
The fonts in this response represent the following meanings:
| Item | Font |
|---|---|
| Audit Inquiry Letter Questions | Bold |
| Responses to Questions | Songti |
| Revisions and Supplements to Prospectus | Bold Italics |
There may be minor discrepancies between the sum of individual items and the total in some tables in this response, which are due to rounding during the calculation process.
Question 1
According to the application materials, the Company's main business revenue includes IDC service revenue, cloud hosting and related service revenue, and other income. During the reporting period, the Company achieved operating income of 1,243.2873 million yuan, 1,396.7894 million yuan, and 1,236.5891 million yuan, respectively. The proportion of IDC service sales continued to decline, while the proportion of cloud hosting and related service sales continued to rise. The net profit attributable to shareholders of the listed company for each period was -340.079 million yuan, -303.144 million yuan, and -170.035 million yuan, respectively, indicating continuous losses.
During the reporting period, the Company's comprehensive gross profit margins were 4.29%, 8.07%, and 13.05%, respectively. Among them, the gross profit margin of IDC services was 12.72%, 13.27%, and 18.65%, respectively, and the gross profit margin of cloud hosting related services was -15.53%, 0.18%, and 7.06%, respectively. The Company's IDC services are divided into self-built and leased, with leasing being the primary mode.
The Issuer has established five overseas subsidiaries, including Capitalonline USA, Capitalonline Singapore, Interconnect (USA), Interconnect (Cayman), and Capitalonline Hong Kong, to carry out relevant overseas businesses. It has deployed overseas cloud computing network nodes through overseas data centers in multiple countries or regions around the world; some high-performance computing equipment or key components are sourced from overseas.
As of the end of each period of the reporting period, the Company's accounts receivable balances were 365.3409 million yuan, 304.2969 million yuan, and 290.1635 million yuan, respectively, accounting for 29.39%, 21.79%, and 23.46% of operating income.
As of the end of each period of the reporting period, the Company's fixed asset amounts were 706.3407 million yuan, 742.7132 million yuan, and 621.019 million yuan, respectively, accounting for 33.88%, 37.99%, and 30.34% of total assets. The balances of construction in progress at the end of each period were 134.6507 million yuan, 41.2108 million yuan, and 99.2368 million yuan, respectively.
As of the end of each period of the reporting period, the Company's goodwill amounts were 192.8664 million yuan, 180.9112 million yuan, and 180.9112 million yuan, respectively, accounting for 9.25%, 9.25%, and 8.84% of total assets.