QINIU Renews Three-Year Cloud Services Framework with Alibaba Cloud; Sets RMB20 Million Annual Cap

Bulletin Express04-24

QINIU (02567) announced the execution of a First Renewal Framework Agreement with Alibaba Cloud Computing on 24 April 2026, extending the existing cloud services and electronic equipment procurement framework for three years, from 1 January 2026 to 31 December 2028.

The renewed framework retains all prior commercial terms, limiting purchases from Alibaba Cloud to RMB20.00 million per year. Pricing will continue to reference prevailing market rates, with the company required to obtain at least three external quotations where comparable services are available.

Historical spending under the previous framework declined over the past three years—RMB37.40 million in 2023, RMB25.78 million in 2024 and RMB12.78 million in 2025—well below the earlier annual cap of RMB50.00 million.

Under Hong Kong Listing Rules Chapter 14A, Taobao China is a substantial shareholder of QINIU, making Alibaba Cloud, as its associate, a connected person. Because all percentage ratios for the renewed cap exceed 0.1% but remain below 5%, the transactions are subject to reporting, annual review and announcement requirements, yet exempt from circular and independent shareholders’ approval.

Management cited Alibaba Cloud’s scale, established cooperation since 2017 and competitive terms as key reasons for renewal. Internal controls—overseen by the Audit Committee, Board, finance and legal departments—include regular benchmarking against independent suppliers, annual auditor and independent director reviews, and mandatory abstention from voting by interested directors on any future revisions.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1139437018?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-04-24 20:44","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1139437018","market":"us","top_or_hot":-1,"title":"QINIU Renews Three-Year Cloud Services Framework with Alibaba Cloud; Sets RMB20 Million Annual Cap","media":"Bulletin Express","content":"<p>QINIU (02567) announced the execution of a First Renewal Framework Agreement with Alibaba Cloud Computing on 24 April 2026, extending the existing cloud services and electronic equipment procurement framework for three years, from 1 January 2026 to 31 December 2028.</p>\n<p>The renewed framework retains all prior commercial terms, limiting purchases from Alibaba Cloud to RMB20.00 million per year. Pricing will continue to reference prevailing market rates, with the company required to obtain at least three external quotations where comparable services are available.</p>\n<p>Historical spending under the previous framework declined over the past three years—RMB37.40 million in 2023, RMB25.78 million in 2024 and RMB12.78 million in 2025—well below the earlier annual cap of RMB50.00 million.</p>\n<p>Under Hong Kong Listing Rules Chapter 14A, Taobao China is a substantial shareholder of QINIU, making Alibaba Cloud, as its associate, a connected person. Because all percentage ratios for the renewed cap exceed 0.1% but remain below 5%, the transactions are subject to reporting, annual review and announcement requirements, yet exempt from circular and independent shareholders’ approval.</p>\n<p>Management cited Alibaba Cloud’s scale, established cooperation since 2017 and competitive terms as key reasons for renewal. Internal controls—overseen by the Audit Committee, Board, finance and legal departments—include regular benchmarking against independent suppliers, annual auditor and independent director reviews, and mandatory abstention from voting by interested directors on any future revisions.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>QINIU Renews Three-Year Cloud Services Framework with Alibaba Cloud; Sets RMB20 Million Annual Cap</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nQINIU Renews Three-Year Cloud Services Framework with Alibaba Cloud; Sets RMB20 Million Annual Cap\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1053168898\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/ed558ed0402cbe7d1ef4d150458f2b2e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Bulletin Express </p>\n<p class=\"h-time\">2026-04-24 20:44</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>QINIU (02567) announced the execution of a First Renewal Framework Agreement with Alibaba Cloud Computing on 24 April 2026, extending the existing cloud services and electronic equipment procurement framework for three years, from 1 January 2026 to 31 December 2028.</p>\n<p>The renewed framework retains all prior commercial terms, limiting purchases from Alibaba Cloud to RMB20.00 million per year. Pricing will continue to reference prevailing market rates, with the company required to obtain at least three external quotations where comparable services are available.</p>\n<p>Historical spending under the previous framework declined over the past three years—RMB37.40 million in 2023, RMB25.78 million in 2024 and RMB12.78 million in 2025—well below the earlier annual cap of RMB50.00 million.</p>\n<p>Under Hong Kong Listing Rules Chapter 14A, Taobao China is a substantial shareholder of QINIU, making Alibaba Cloud, as its associate, a connected person. Because all percentage ratios for the renewed cap exceed 0.1% but remain below 5%, the transactions are subject to reporting, annual review and announcement requirements, yet exempt from circular and independent shareholders’ approval.</p>\n<p>Management cited Alibaba Cloud’s scale, established cooperation since 2017 and competitive terms as key reasons for renewal. Internal controls—overseen by the Audit Committee, Board, finance and legal departments—include regular benchmarking against independent suppliers, annual auditor and independent director reviews, and mandatory abstention from voting by interested directors on any future revisions.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"02567","symbol_name":"七牛智能","start_time":0,"source_url":"","article_id":"1139437018","we_media_id":"1053168898","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1139437018","pubTimestamp":1777034651,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Bulletin Express","introduction":"Full Coverage of HK & US Stock Announcements","home_visible":1,"id":"1053168898","head_image":"https://community-static.tradeup.com/news/ed558ed0402cbe7d1ef4d150458f2b2e"},"summary":"QINIU (02567) announced the execution of a First Renewal Framework Agreement with Alibaba Cloud Computing on 24 April 2026, extending the existing cloud services and electronic equipment procurement...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"02567":"七牛智能"},"translate_title":"七牛与阿里巴巴-SW云续签三年云服务框架；设定年度上限人民币2,000万元","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"02567":1},"content_text":"QINIU (02567) announced the execution of a First Renewal Framework Agreement with Alibaba Cloud Computing on 24 April 2026, extending the existing cloud services and electronic equipment procurement framework for three years, from 1 January 2026 to 31 December 2028.\nThe renewed framework retains all prior commercial terms, limiting purchases from Alibaba Cloud to RMB20.00 million per year. Pricing will continue to reference prevailing market rates, with the company required to obtain at least three external quotations where comparable services are available.\nHistorical spending under the previous framework declined over the past three years—RMB37.40 million in 2023, RMB25.78 million in 2024 and RMB12.78 million in 2025—well below the earlier annual cap of RMB50.00 million.\nUnder Hong Kong Listing Rules Chapter 14A, Taobao China is a substantial shareholder of QINIU, making Alibaba Cloud, as its associate, a connected person. Because all percentage ratios for the renewed cap exceed 0.1% but remain below 5%, the transactions are subject to reporting, annual review and announcement requirements, yet exempt from circular and independent shareholders’ approval.\nManagement cited Alibaba Cloud’s scale, established cooperation since 2017 and competitive terms as key reasons for renewal. Internal controls—overseen by the Audit Committee, Board, finance and legal departments—include regular benchmarking against independent suppliers, annual auditor and independent director reviews, and mandatory abstention from voting by interested directors on any future revisions.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation,SGX","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.1","shortVersion":"4.42.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1139437018","isCrawlerRequest":true}