CRYPTO FLOW (08198) has announced the signing of a limited partnership agreement to establish a new joint venture.
The company, acting as the general partner, entered into the agreement with a limited partner, Shanghai Fengqi Technology Service Co., Ltd., on July 22, 2026.
The newly formed limited partnership will be 51% owned by CRYPTO FLOW and 49% by the limited partner.
It will have a registered capital of RMB 15 million, to be contributed in cash by the partners according to their respective equity stakes.
Upon establishment, the partnership will become a non-wholly-owned subsidiary of the company.
The primary business of the partnership will be to provide platform-based computing power services in China.
This includes several key offerings: a computing power cloud platform for managing resources, intelligent scheduling, and cross-regional allocation; a Model-as-a-Service (MaaS) platform providing access to mainstream AI large language models through a unified interface with token-based usage metering and settlement; and operational and maintenance services for computing power suppliers and data centers.
Strategic Rationale for the Venture
This move represents a natural evolution and vertical expansion of the company's core big data center services business.
As the global digital economy shifts from traditional cloud storage towards intensive AI and large language model processing, demand for high-density, high-performance computing power is growing exponentially.
By entering the platform-based computing power services sector, the company aims to leverage its existing digital infrastructure expertise to capture growth opportunities upstream in the technology value chain.
Through the partnership, the group plans to integrate its computing power cloud platform software and MaaS capabilities with computing power centers.
This integration is intended to create a combined business model that merges computing power supply, software platforms, model services, and usage-based billing and settlement.
The strategic goal is to transform the group from a computing infrastructure supplier into a platform-based computing power service provider.
Expected Operational Benefits
Management believes expanding into platform-based computing power services will maximize synergies between the group's operations and its clients.
The partnership will utilize its software platform and MaaS capabilities to enhance the utilization rate of computing power assets and broaden its addressable customer base.
A multi-model MaaS architecture, supported by a unified token-based metering and settlement system, is expected to allow the partnership to extend its services from large corporate clients to small and medium-sized AI application developers.
This approach aims to create a standardized, scalable revenue stream and establish long-term competitive advantages for the group at the software and data levels.
Enhancing Customer Relationships
The partnership's target clientele, including corporate customers, internet service providers, and technology platforms, is expected to overlap with the company's existing customer base.
This initiative will enable the group to offer a comprehensive, one-stop digital infrastructure solution, thereby deepening customer loyalty and increasing customer lifetime value.
The integration of software, platform, and service capabilities is designed to solidify the group's transition towards a more holistic, platform-driven service model.
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