CRYPTO FLOW (08198) has announced that on September 4, 2026, after market hours, its indirect wholly-owned subsidiary, Quantum Thinking, entered into a purchase agreement.
Under the agreement, the buyer will acquire certain artificial intelligence-related facilities intended for AI services from the supplier at a consideration of RMB 34.4 million, equivalent to approximately HK$40 million.
As of the date of this announcement, the supplier is wholly owned by Mr. Jiang Zhiqiang, and the receiving agent for the supplier is solely held by Mr. Duan Yulong. Following all reasonable inquiries, the directors confirm, to the best of their knowledge, that the supplier, its receiving agent, and their ultimate beneficial owners are all independent third parties.
The equipment, which consists of AI service hardware, is slated for use in the group's artificial intelligence data center operations. As part of its business development strategy, the group has been actively exploring various initiatives to diversify its revenue streams and enter high-growth sectors. Specifically, it plans to expand its existing big data center business into the AI data center niche.
Having operated data centers as a core business for years, the group has amassed significant expertise in the construction, operation, and maintenance of related infrastructure. With the rapid ascent of AI, demand for AI-centric infrastructure, including data centers, has surged considerably.
The group intends to leverage its established know-how in big data center operations, focusing on developing and leasing AI-related facilities like GPU servers within these centers. This purchase marks the first step in expanding into the AI data center segment. Management anticipates capitalizing on its experience in supporting critical infrastructure, such as power supply and cooling systems necessary for building AI facilities.
Funding for this acquisition will come from part of the net proceeds of a planned share placement.
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