Zhejiang Entive Smart Kitchen Appliance Co. Ltd.

On the evening of July 29, multiple listed companies on the Shanghai and Shenzhen stock exchanges released important announcements. Tianzhihang plans to acquire a 62% stake in Shanghai Minimally Invasive Orthopaedics Medical Technology Co., Ltd. through a share issuance and raise supporting funds, with trading in its shares resuming on July 30. GigaDevice Chairman Zhu Yiming proposed a share buyback of 1 to 2 billion yuan for cancellation, and also plans to increase his holdings in the company by no less than 1 billion yuan. Entive Smart Kitchen's wholly-owned subsidiary Gansu Yisuan signed a computing power resource service contract worth 1.106 billion yuan, while Yongding Co.'s controlling subsidiary Suzhou Dingxin Optoelectronics signed an order for high-power laser chips worth approximately 1.133 billion yuan. Western Mining disclosed its half-year report, with net profit for the first half reaching 4.169 billion yuan, up 123% year-on-year. In addition, companies such as Lianchuang Electronics and Jiayun Technology are set to see changes in their actual controllers, and Hua Wen will have its delisting risk warning removed starting July 31.

Entive Smart announced that its wholly-owned subsidiary Gansu Yisuan plans to purchase servers and supporting equipment from multiple suppliers, with the total contract value expected not to exceed 2 billion yuan, primarily to provide computing power services to customers. The company stated that this procurement will accelerate the build-out of its own AI computing resources, but the computing power business is still in the early stages of expansion, and its main business remains kitchen appliances such as integrated stoves, with no change in its overall operating fundamentals.

The computing power sector continues to run hot, with multiple listed companies recently unveiling large-scale procurement deals for servers and supporting equipment. Entive Smart Kitchen’s wholly-owned subsidiary, Gansu Yisuan Intelligent Technology, plans to purchase servers and supporting equipment from several suppliers, with the total contract value expected to not exceed 2 billion yuan. This is the second asset acquisition announcement from the subsidiary in recent days, following a procurement plan of up to 550 million yuan disclosed on July 8. Jiechuang Intelligence plans to purchase IT equipment and spare parts with a total value of no more than 10 billion yuan. Sieyuan Information Technology plans to purchase high-performance computing servers with a total contract value expected to not exceed 5.079 billion yuan. Zhiwei Intelligent plans to purchase servers and supporting equipment in batches with a total value of no more than 4 billion yuan. In addition, several other companies, including Xingyun Technology, Dongyangguang, and Tianyang Technology, have also recently disclosed computing power service cooperation and equipment procurement contracts.

Entive Smart announced that its subsidiary, Gansu Yisuan Intelligent Technology, plans to use its own funds or self-raised funds to purchase servers and supporting equipment from multiple suppliers, with the total procurement contract amount expected not to exceed 550 million yuan. The board of directors has authorized management to sign relevant contract documents within the limit.