Glonghui, March 22 | Shankao Holding Group today issued a Yingxi announcement. Unaudited profit for 2023 is expected to reach HK$540 million. According to the announcement, the sharp increase in profits was mainly due to the lack of write-off of intangible assets in 2023 and a sharp reduction in fair value losses on financial assets. Since the second half of 2021, Shantaka Holdings began a strategic transformation, driving the transformation of its business from short-term debt-type financial investments to investment holdings in emerging industries. In 2022, the Hong Kong stock listed company Shangao New Energy was controlled through an IPO, and a solid step in strategic transformation was taken. After completing the merger and acquisition, the company carried out comprehensive and strong investment and management capabilities for Shangao New Energy in terms of capital, resources, brand, mechanism, etc., to promote the achievement of remarkable results in various tasks of Shangao New Energy, and gradually embarked on a high-quality development path. In 2023, the company firmly grasped the principle of “growth+certainty” and continued to seize the layout opportunities on the emerging industry circuit. In December, the company strategically took a stake in Century Internet (VNET), issued an additional 299 million US dollars through subscription to Century Connect Class A common stock, and owned 42% of its shares. Century Link is one of the top three third-party data center service providers in China. Through the strategic layout of Century Connect, the main businesses of Shangao New Energy (power generation side) and Century Internet (load side) are highly complementary, and it is expected that they will form a closed loop of “green electricity+computing power” autonomous and controllable “green electricity+computing power” with “immediate use of electricity, reasonable pricing, mutual benefit”, and enhance the overall competitiveness of invested companies under Shangao Holdings. At the same time, the company's other investment businesses benefited from more prudent investment strategies, flexible asset allocation, and proactive disposal of stock risk assets, and the fair value loss of financial assets dropped sharply in 2023. In February 2024, Hong Kong Hang Seng Index Co., Ltd. announced that Shango Holdings will be included in the Hang Seng Composite Index.