688228, terminate the major asset reorganization!

Cape Cloud: Termination of Major Asset Restructuring

On the evening of February 24, Cape Cloud (688228) announced that due to changes in the market environment, the two parties involved in the transaction were unable to reach an agreement on the core terms of the deal. Based on prudence and to effectively protect the interests of the company and all shareholders, after thorough deliberation and careful research by the company’s board of directors, it was decided to terminate this major asset restructuring.

Cape Cloud stated that in accordance with relevant laws, regulations, and normative documents, the company commits not to plan any major asset restructuring for at least one month from the date of this announcement.

In August 2025, Cape Cloud disclosed a major asset restructuring plan, proposing to purchase a 30.00% stake in Nanning Taike held by Shenzhen Jintake through the issuance of A-shares, and to raise supporting funds. Additionally, according to the “Equity Acquisition Framework Agreement,” the company plans to acquire a 70% stake in Nanning Taike, with Shenzhen Jintake transferring its operating assets related to storage products to Nanning Taike. This cash transaction is a prerequisite for the issuance of shares to purchase assets. After resumption of trading, Cape Cloud’s stock price hit the daily limit for three consecutive trading days, with a total increase of 133.74% over five trading days.

In the announcement, Cape Cloud revealed its strategic plans for sustainable development. The company is firmly advancing its strategy of “AI infrastructure + intelligent entities + smart applications.” In the AI infrastructure segment, the company will continue to develop related technologies essential for AI computing power, addressing key issues affecting data performance and AI efficiency, thereby improving overall AI application efficiency.

The company will continue to enhance its capabilities through both organic growth and acquisitions, strengthening its computing power operations and data storage capabilities. It aims to build a comprehensive “compute-storage-operation” AI infrastructure, deepen the integration of AI technology into core application scenarios for industry clients, and develop multiple AI applications tailored to real-world scenarios. These efforts lay a technological and business foundation for long-term growth, ensuring ongoing order acquisition and expansion of AI business.

Notably, on the evening of January 30, the company released its 2025 annual performance forecast, estimating a net profit attributable to the parent company of a loss between 8 million and 12 million yuan, turning from profit to loss year-over-year. Following the release of this forecast, Cape Cloud’s stock price continued to decline, with a total drop of 40.93%.

The company stated that the loss was mainly due to a comprehensive review and impairment testing of goodwill related to energy-related subsidiaries, with corresponding impairment provisions made. After excluding the impact of these impairment provisions, net profit attributable to the parent was positive.

Cape Cloud continues to deepen the integration of AI technology into core application scenarios for industry clients and other key areas, maintaining ongoing R&D investment in AI technology. However, due to the scale-up and commercialization process of related technologies requiring time, financial data has been affected. Under the support of national policies, the company has strengthened its accounts receivable collection efforts, significantly reducing the receivables balance, and achieving a record high in net cash flow from operating activities.

(Source: Data Treasure)