Zheng Quan Shi Bao·2025-09-30 14:24Core Viewpoint - Hainan Huatie announced the termination of a significant contract with Hangzhou X Company regarding a computing power service agreement, which was originally valued at 3.69 billion yuan, due to changes in market conditions and lack of purchase orders [1][2]. Group 1: Contract Termination - The computing power service agreement was set to last for five years, but the company has decided to terminate it as the market environment has changed significantly since the signing [1]. - No actual procurement costs or capital expenditures were incurred from the agreement, and there was no delivery or acceptance of equipment, meaning it did not impact the company's current operating results, financial status, or cash flow [1][2]. Group 2: Company Operations - The termination of the contract is classified as a routine business contract and will not affect the company's normal production and operations [2]. - The company will continue to advance its computing power business and actively seek partnerships to seize opportunities in the computing power sector [2]. Group 3: Company Profile and Financials - Hainan Huatie is a major state-owned investment operation platform in Hainan, established in 2008 and listed on the Shanghai Stock Exchange in 2015 [3]. - The company reported a revenue of 2.805 billion yuan for the first half of 2025, representing an 18.89% year-on-year increase, with a net profit of 341 million yuan, up 1.85% year-on-year [3]. - As of September 30, 2025, the company's stock price was 9.68 yuan per share, with a total market capitalization of 19.326 billion yuan [4].