Group 1 - The board of directors of Gansu King Kong Photovoltaic Co., Ltd. held its 55th meeting of the 7th session, where all 6 attending directors approved the meeting without prior notice [1][2] - The board approved a significant computing power sales contract between its subsidiary, Beijing King Kong Shuhai Intelligent Computing Technology Co., Ltd., and Jiangsu *** Big Data Co., Ltd., which will provide computing power services [1][2] - The total amount of the contract, including tax, is expected to open new revenue and profit channels for the company, enhancing its operational capabilities [1][2] Group 2 - The board believes that the computing power client is legally established, operates normally, and possesses good credit status, ensuring contract performance capability [2] - The contract signing was witnessed by Shanghai Tongli Law Firm, which provided a special legal opinion on the transaction [2]

Core Viewpoint - *ST JINGANG has entered the intelligent computing power sector by signing a service agreement worth 399 million yuan with Jiangsu *** Big Data Co., Ltd, which is expected to positively impact the company's operating performance by 2025 [1][2]. Group 1: Business Developments - The subsidiary Beijing JINGANG Shuhai Intelligent Computing Technology Co., Ltd (referred to as "JINGANG Shuzhi") signed a service agreement to provide computing power services for a total amount of 399 million yuan, with a service period of five years [1]. - The newly established JINGANG Shuzhi has a registered capital of 10 million yuan and will engage in various computing power-related businesses, including cloud computing equipment sales and data processing services [2]. - The company has signed a restructuring investment agreement with Shanghai Hongqi Cloud Creation Technology Group, which will inject capital at a price of 6.5 yuan per share [2]. Group 2: Financial Performance - The company has faced continuous losses from 2021 to 2023, with net profits of -202 million yuan, -269 million yuan, and -362 million yuan respectively [3]. - In 2024, the company reported total operating revenue of 124 million yuan, a year-on-year decrease of 78.69%, and a net profit attributable to shareholders of -795 million yuan, a year-on-year decrease of 119.83% [3]. - The company’s stock was suspended for one day on April 29, 2024, due to risk warnings, and subsequently changed its stock name from "JINGANG Photovoltaics" to "*ST JINGANG" [3].

Core Viewpoint - *ST Jinkang's subsidiary has signed a significant computing power sales contract worth 399 million yuan, which is expected to positively impact the company's operating performance in 2025 [1] Group 1: Contract Details - The subsidiary, Beijing Jinkang Shuhai Zhican Technology Co., Ltd., entered into a service agreement with Jiangsu *** Big Data Co., Ltd. [1] - The total amount of the contract, including tax, is 399 million yuan, with a service duration of 5 years [1] Group 2: Impact on Company Performance - The contract is classified as a major operating contract, which is anticipated to have a positive effect on the company's operating performance for the year 2025 [1] - The specific impact amount will be confirmed based on the results of the annual audit by the auditing agency [1] Group 3: Uncertainties and Risks - There are uncertainties or risks related to legal, regulatory, policy, performance capability, technology, and market aspects during the contract execution [1]