Feng Assistant Co., Ltd.
Announcement on Full Subsidiary Signing Major Contract for Computing Power Business
The company and the board of directors guarantee that the information disclosed is true, accurate, and complete, and contains no false records, misleading statements, or major omissions.
Special Notice:
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Conditions for Contract Effectiveness: The Computing Power Server Purchase Agreement (hereinafter referred to as the "Purchase Agreement") shall become effective upon the affixing of official seals by all parties. If the signing dates of the parties are inconsistent, it shall become effective from the later signing date. The Purchase Agreement shall become effective upon approval by the shareholders' meeting of Feng Assistant Co., Ltd. (hereinafter referred to as "Feng Assistant" or the "Company") and shall remain effective until the full performance of contractual obligations by both parties. The Computing Power Service Agreement (hereinafter referred to as the "Service Agreement") shall become effective from the signing date stated in the contract upon being sealed by both parties.
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Impact on the Company's Operating Results: The "Computing Power Server Purchase Agreement" and the "Computing Power Service Agreement" (collectively referred to as the "Agreements") are related to the computing power business of the Company and its wholly-owned subsidiary, Ya'an Yunzhi Computing Power Technology Co., Ltd. (hereinafter referred to as "Ya'an Yunzhi" or the "Wholly-owned Subsidiary"). The total amount stipulated in the Agreements and the contracts signed by both parties do not constitute any performance commitment or forecast, and the actual impact on the Company's performance in future accounting periods is uncertain. The Company and its subsidiaries plan to carry out the purchase agreement business through self-owned funds, financing leases, and concurrent bank credit financing. The project financing lease will form long-term interest-bearing debt, which will significantly increase the Company's asset-liability ratio. If the computing power service project (hereinafter referred to as "this project" or "the project") is successfully implemented, the estimated annual net profit of the project is RMB 60-72 million. However, due to fluctuations in financing costs and other factors, the net profit of the project may fluctuate in individual years, and may even reduce the company's net profit in some years. The Company will recognize revenue in the corresponding accounting period according to the enterprise accounting standards and the Company's accounting policies based on the project implementation progress. The specific impact amount shall be subject to the audited financial report of the relevant year.
1 The "Computing Power Server Purchase Agreement" and the "Computing Power Service Agreement" are both related to the company's computing power business contracts; the computing power service project involves purchasing computing power servers and supporting equipment from upstream, forming computing power resources after deployment, and providing computing power services to customers.