Xingyun Technology Procures 43 Sets of GPU Computing Power Services for RMB 453 Million

en.Wedoany.com Reported - On September 22, Xingyun Technology Co., Ltd. announced that the company had recently signed three "Computing Power Service Contracts" with a state-owned supplier, procuring a total of 43 sets of GPU computing power services. All three contracts have a service term of 5 years, with a total tax-inclusive amount of RMB 453 million. This procurement is a subsequent implementation under the company's previously established master framework agreement for 128 sets of high-end computing power servers and supporting computing power services.

On July 20, Xingyun Technology signed its first "Computing Power Service Contract" and "Computing Power Service Framework Cooperation Agreement" with the same supplier, under which an initial procurement of 32 sets of GPU computing power services was agreed, with a tax-inclusive amount of approximately RMB 299.6 million for the first batch. The framework agreement plans for the supplier to provide Xingyun Technology with 128 sets of GPU computing power services, with each set required to deliver no less than 72 PFLOPS (FP8), and an intended service term of 60 months. The specific resource types, specifications, configurations, and service prices shall be subject to subsequent formal contracts.

Under the previous first-batch contract arrangement, the 32 sets of computing power resources adopt a phased delivery, phased acceptance, and phased billing model, with the first batch delivering no fewer than 8 sets. Each batch of equipment must complete acceptance separately. In the event of missing parts, hardware failures, or computing power performance falling short of standards, the supplier is required to complete replenishment, repair, or replacement. The first-batch contract has a service term of 5 years, with a 3-year renewal period. During the renewal period, 70% of the net profit generated from business operations using the relevant computing power resources shall belong to Xingyun Technology, while 30% shall serve as the supplier's service fee.

With the addition of 43 sets this time, Xingyun Technology has signed formal procurement contracts for a total of 75 sets of GPU computing power resources under the 128-set framework agreement, including the first batch of 32 sets in July and the 43 sets this time, accounting for approximately 58.6% of the total framework volume. The remaining 53 sets under the framework have not yet been disclosed in public information as formal procurement contracts. The counterparty for these three contracts remains the aforementioned SA supplier, which is a local state-owned enterprise and has no affiliated relationship with Xingyun Technology.

According to the company's announcement, these contracts constitute major procurement contracts in the ordinary course of business, do not require separate submission to the board of directors or shareholders' meeting for deliberation, do not constitute affiliated transactions, and do not constitute major asset restructuring. Due to confidentiality clauses in the transaction contracts, the company has been granted an exemption from disclosing the supplier's name and specific product models. The company also cautions that the procurement of high-end GPU computing power servers still faces delivery and performance risks arising from factors such as the chip supply chain, industry supply and demand, international trade, and technology controls.