On November 27, Gelonghui (300383.SZ) announced that the company plans to jointly invest with the controlling shareholder Zhoushan Baihuida Venture Capital Partnership (Limited Partnership) (“Baihuida”) to build an intelligent computing/cloud computing base project in Malaysia.

The company and Parkweida each plan to establish wholly-owned subsidiaries SPV1 and SPV2 overseas, and then SPV1 will invest 75% of about 78.5 million US dollars (about 563.48 million yuan, using the central exchange rate announced by the People's Bank of China authorized by the People's Bank of China on October 30, 2023:1 US dollar = 71,781 yuan;), and SPV2 will invest 25% of about US$26.165 million (about RMB 187.82 million). Using the median exchange rate announced by the China Foreign Exchange Trading Center authorized by the People's Bank of China on October 30, 2023: 1 US dollar = 7.1,781 yuan;) Jointly funded the establishment of SPV3 in Singapore (total investment not exceeding US$104.665 million; the specific amount will be determined by negotiations between the two parties at that time based on project conditions). SPV3 invested in the establishment of a project company 4 in Malaysia and project company 4 invested in the construction of an intelligent computing/cloud computing base project.

The project is located in Johor, Malaysia, with a planned land area of 14.4 acres (about 87.37 acres) and an overall project IT load of 45 megawatts. The first phase plans to build 2,500 6kW standard 2N cabinets, with an IT load of 15 MW. After completion, the park will provide domestic overseas enterprises and customers in Malaysia and Southeast Asia with highly customized, high-availability and high-security data center life cycle services. The first phase of the project invested 751.3 million yuan, equivalent to 104.66557 million yuan (the estimated exchange rate of the project uses the median exchange rate announced by the China Foreign Exchange Trading Center authorized by the People's Bank of China on October 30, 2023:1 US dollar = 7.1,781 yuan; 1 yuan = 0.66567 Malaysian ringgit). Among them, the company invested a total of RMB 563.475 million to hold 75% of its shares, and the controlling shareholder Parkway invested a total of RMB 187.825,000 to hold 25% of its shares.