Mei Ri Jing Ji Xin Wen·2025-09-30 23:33Core Points - Hainan Huatie's subsidiary, Hainan Huatie Dahuangfeng Construction Machinery Equipment Co., Ltd., has terminated a significant computing power service contract worth 3.69 billion yuan with a company in Hangzhou due to changes in market conditions and lack of procurement orders [1][2] - The contract was originally signed on March 4, with expectations of generating approximately 700 million yuan in annual revenue over a five-year service period, aimed at enhancing the company's market presence and profitability in the computing power service sector [1][2] Summary by Sections - Contract Termination: The computing power service contract was annulled as the market environment and supply-demand dynamics shifted significantly since the agreement was made, leading to no procurement orders being received [1][2] - Regulatory Attention: The termination of the contract has drawn scrutiny from regulatory bodies, with the Shanghai Stock Exchange issuing a regulatory letter to Hainan Huatie regarding the significant contract termination [1] - Financial Impact: The company stated that the termination of this contract, which was a routine business agreement, would not affect its normal operations or long-term strategic plans in the computing power sector, as no actual procurement costs or capital expenditures were incurred [2] - Business Focus: Hainan Huatie primarily engages in equipment leasing, including aerial work platforms, forklifts, and heavy-duty drones, while also exploring computing power leasing services [2]