Core Viewpoint - The company has entered into a joint venture agreement with Shannon Chip Innovation to establish a joint venture company with a registered capital of RMB 120 million, aimed at expanding the intelligent computing service market [1] Group 1: Joint Venture Details - The registered capital of the joint venture will be RMB 120 million, with the company contributing RMB 90 million and Shannon Chip Innovation contributing RMB 30 million [1] - The company will hold a 75% stake in the joint venture, while Shannon Chip Innovation will hold 25%, allowing the joint venture to be accounted for as a subsidiary in the company's consolidated financial statements [1] Group 2: Strategic Rationale for Expansion - The company believes that the intelligent computing business complements its existing operations and will create synergies for overall business development [1] - There is a stable growth in demand for computing resources and processing capabilities from existing customers [1] - The company possesses long-term technical expertise, continuous investment in distributed computing, a mature supply chain, and a self-developed resource scheduling platform, enabling it to provide intelligent computing services [1] Group 3: Benefits of the Joint Venture - The joint venture will enhance technological upgrades by providing access to advanced computing chips and enriching the company's heterogeneous computing resource pool [1] - It will accelerate business expansion, allowing the company to establish intelligent computing centers for various clients, thereby improving the availability and support of computing resources in the Wuxi and Yangtze River Delta regions [1] - The joint venture will deepen collaboration with large enterprises and local governments, facilitating access to major international and local companies that require intelligent computing services [1] - The establishment of the joint venture will help the company gain a first-mover advantage in the intelligent computing industry, solidifying its leading position in edge computing, artificial intelligence, and heterogeneous computing [1]

Core Viewpoint - The company has entered into a joint venture agreement with Shannon Chip to establish a joint venture company with a registered capital of RMB 120 million to explore the intelligent computing service market [1] Group 1: Joint Venture Details - The registered capital of the joint venture will be RMB 120 million, with the company contributing RMB 90 million and Shannon Chip contributing RMB 30 million [1] - The company will hold a 75% stake in the joint venture, while Shannon Chip will hold a 25% stake, allowing the joint venture to be accounted for as a subsidiary in the company's consolidated financial statements [1] Group 2: Strategic Rationale - The company believes that the intelligent computing business complements its existing operations and will create synergies for overall business development [1] - There is a stable growth in demand for computing resources and processing capabilities from existing customers [1] - The company has the capability to provide intelligent computing services due to its accumulated technical expertise, ongoing investment in distributed computing, mature supply chain system, and self-developed resource scheduling platform [1] Group 3: Benefits of the Joint Venture - The joint venture will enhance technological upgrades by providing access to advanced computing chips and enriching the company's heterogeneous computing resource pool [1] - It will accelerate business expansion, allowing the company to establish intelligent computing centers for various clients, thereby improving the availability and support of computing resources in Wuxi and the Yangtze River Delta region [1] - The joint venture will deepen collaboration with large enterprises, facilitating access to international and local companies that require intelligent computing services [1] - The establishment of the joint venture will help the company gain a first-mover advantage in the intelligent computing industry, solidifying its leading position in edge computing, artificial intelligence, and heterogeneous computing [1]

Core Viewpoint - The company, YunGongChang (02512.HK), has announced a joint venture with Shannon Chip to establish a company with a registered capital of RMB 120 million to explore the intelligent computing service market [1][2]. Group 1: Joint Venture Details - The registered capital of the joint venture will be RMB 120 million, with the company contributing RMB 90 million and Shannon Chip contributing RMB 30 million [1]. - The company will hold a 75% stake in the joint venture, while Shannon Chip will hold 25%, allowing the joint venture to be consolidated into the company's financial statements [1]. Group 2: Strategic Benefits - The establishment of the joint venture will enhance the company's technological upgrades by providing access to advanced computing chips and enriching the heterogeneous computing resource pool [1][2]. - The joint venture will accelerate business expansion, enabling the company to build intelligent computing centers for various clients, thereby improving the availability and support of computing resources in the Wuxi and Yangtze River Delta regions [2]. - The company aims to deepen ecological cooperation with large enterprises through the joint venture, facilitating access to international and local companies that require intelligent computing services [2]. - The joint venture is expected to provide a first-mover advantage, allowing the company to solidify its leading position in edge computing, artificial intelligence, and heterogeneous computing, while attracting more cutting-edge internet enterprises and industry clients [2].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 雲 工 場 科 技 控 股 有 限 公 司 Cloud Factory Technology Holdings Limited （ 於開曼群島註冊成立的有限公司） （股份代號﹕2512） 須予披露交易 成立合資公司 成立合資公司 董事會欣然宣佈，於二零二五年八月十二日（ 聯交所交易時段後 ），本集團與香農芯創訂 立合資協議，據此，訂約方同意成立合資公司，註冊資本為人民幣120百萬元，以開拓智 算服務市場。 根據合資協議之條款，合資公司的註冊資本將為人民幣120百萬元。本公司及香農芯創將 分別對合資公司的註冊資本出資人民幣90百萬元及人民幣30百萬元。合資公司成立後， 本公 司 及香 農芯 創將 分 別擁 有合 資公 司 75% 及25% 的權 益。 因此 ， 合資 公司 將作 為 本公 司的附屬公司入賬，其財務業績將併入本集團之綜合財務報表。 上市規則的涵義 由於成立合資公司適用的一項或多項百分比率超過 ...

格隆汇8月12日丨云工场(02512.HK)公布，公司将于2025年8月27日召开董事会会议，以（其中包括）审 议及通过集团截至2025年6月30日止六个月的中期业绩及其发布，以及审议派发中期股息的建议（如 有）。 ...

雲 工 場 科 技 控 股 有 限 公 司 Cloud Factory Technology Holdings Limited 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 （ 於開曼群島註冊成立的有限公司） （股份代號﹕2512） 董事會會議日期 雲工場科技控股有限公司（ 連同其附屬公司及併表聯屬實體統稱「本集團」）董事（「董事」）會 （「董事會」）宣佈，董事會將於二零二五年八月二十七日（ 星期三 ）舉行會議，藉以（ 其中包 括 ）審 議 及 批 准 本 集 團 截 至 二 零 二 五 年 六 月 三 十 日 止 六 個 月 的 中 期 業 績 及 其 刊 發 ， 並 考 慮 建議派發中期股息（ 如有）。 承董事會命 雲工場科技控股有限公司 主席、行政總裁兼執行董事 孫濤先生 香港，二零二五年八月十二日 於本公告日期，董事會包括執行董事孫濤先生、蔣燕秋先生、季黎俊先生及朱文濤先生；以及獨立非執行董 事葉滿林先生、崔琦先生及趙竑女士。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 雲 工 場 科 技 控 股 有 限 公 司 Cloud Factory Technology Holdings Limited （ 於開曼群島註冊成立的有限公司） （股份代號﹕2512） 有關根據一般授權認購新股份的補充公告 茲提述雲工場科技控股有限公司（「本公司」）日期為二零二五年七月十八日內容有關認購事 項的公告（「該公告」）。除文義另有所指外，本公告所用詞彙與該公告所界定者具有相同涵 義。 認購事項所得款項之擬定用途 誠如該公告所披露，本公司擬將認購事項所得款項淨額228.0百萬港元（「所得款項淨額」）用 作 下 列 用 途 ： (i) 約 50% 之 所 得 款 項 淨 額 將 用 於 發 展 本 公 司 的 核 心 業 務 及 加 快 業 務 拓 展 ； 及(ii) 50%之所得款項淨額將用於策略性投資潛在拓展機會、吸引及挽留人才、補充營運資 金及一般企業用途。 本公司謹此進一步詳述下列認購事 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 雲工場科技控股有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02512 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.00001 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 5,000,000,000 | USD | | 0.00001 | USD | | 50,000 | 本月底法定/註冊股本總 ...

Investment Rating - The report initiates a "Buy" rating for the company with a target price of HKD 5.0, reflecting a potential upside of 23% from the current price of HKD 4.07 [71][73]. Core Insights - The company is positioned as a leading provider in the IDC (Internet Data Center) sector, focusing on "edge computing + edge AI" to drive new growth engines. The stable relationships with upstream and downstream partners are expected to enhance market share [2][12]. - The IDC business is projected to benefit from the digital transformation of Chinese enterprises, with a compound annual growth rate (CAGR) of 13.6% expected from 2024 to 2028 in the IDC market [16][8]. - The edge computing market is anticipated to grow at a CAGR of 32.9% from 2024 to 2028, indicating significant potential for the company's edge computing services [36][8]. Financial Projections - Revenue is forecasted to grow from RMB 696 million in 2023 to RMB 1,189 million by 2027, with a CAGR of approximately 19% [3][53]. - The operating profit is expected to increase from RMB 23 million in 2023 to RMB 87 million in 2027, reflecting a growing profit margin [3][60]. - The net profit is projected to rise from RMB 14 million in 2023 to RMB 69 million in 2027, with an expected net profit margin improvement [3][60]. Market Dynamics - The report highlights the increasing demand for IDC services driven by the rise of cloud computing, blockchain, and IoT technologies, with the IDC market size in China expected to reach RMB 426.8 billion by 2028 [16][8]. - The edge computing services are positioned to capture a growing share of the market, with the company already establishing a cross-regional edge computing network across major cities in China [40][12]. Business Model and Strategy - The company operates a flexible and scalable business model that avoids direct competition with state-owned telecom operators, allowing for rapid business expansion [35][12]. - The focus on edge AI and edge computing services is expected to create a new growth curve, with the company leveraging its existing infrastructure to enhance service offerings [49][12]. Customer and Supplier Relationships - The company has established strong relationships with major clients across various sectors, including government, finance, and telecommunications, which contribute to a low customer churn rate [28][12]. - Long-term partnerships with key suppliers, including state-owned telecom operators, enhance the company's ability to meet diverse customer needs [32][12].

Core Viewpoint - The company, Yun Gong Chang (02512.HK), has announced a subscription agreement to issue shares at a price of HKD 4.98 per share, which is a discount of approximately 0.40% compared to the closing price of HKD 5.00 on July 18 [1] Group 1: Subscription Details - The company will issue a total of 26,277,000 shares to Subscriber A and 19,708,000 shares to Subscriber B [1] - The total proceeds from the share issuance are expected to be approximately HKD 229.0 million, with a net amount of HKD 228.0 million [1] - The ultimate beneficial owners of Subscriber A are the Wuxi Municipal Government State-owned Assets Supervision and Administration Commission and Ms. Zhu Lingling, holding 55.29% and 29.14% respectively [1] - The ultimate beneficial owner of Subscriber B is the Wuxi Xinwu District Government, holding 64.97% [1] Group 2: Use of Proceeds - The net proceeds will be allocated as follows: 50% for the development of the company's core business and accelerating business expansion, and 50% for strategic investments, talent retention, working capital, and general corporate purposes [1] - The board believes that the subscription will provide additional funding for business operations and enhance the company's capital base [2] - The board is confident that the subscription will contribute to the company's long-term stable development and increase overall competitiveness, thereby creating greater value for shareholders [2]