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With an investment of 1.1 billion yuan, Century Huatong will build the second phase of its Shenzhen data center project.
On January 10, 2023, Century Huatong (002602) (002602.SZ) announced that the company had passed the "Resolution on Investment in the Shenzhen Data Center Project by its Subsidiary" and the "Resolution on Application for Comprehensive Credit Line from Financial Institutions for the Construction of the Shenzhen Data Center Project by its Subsidiary," approving the company's investment in the "Yifeng Technology Guangming 5G Big Data Center Project" (hereinafter referred to as the "Shenzhen Data Center Project").
It is understood that this project is Century Huatong's first large-scale data center project in Guangdong Province, with a total investment of 4.8 billion yuan. It will consist of three high-standard buildings, with a construction area of 168,000 square meters, 94 machine rooms, and a planned deployment of 12,000 cabinets. It is currently the largest data center park approved by Shenzhen. The project started construction in March 2022 and is scheduled for completion at the end of May 2024.
To further ensure the overall progress of the project's investment and construction and effectively improve the efficiency of capital use, it is agreed that Shanghai Century Longteng Data Technology Co., Ltd. (hereinafter referred to as "Century Longteng"), a subsidiary indirectly holding 50.1% equity of the company's holding subsidiary Shenzhen Yixun Technology Co., Ltd. (hereinafter referred to as "Yixun Technology"), will apply for comprehensive credit from financial institutions for the overall investment and construction of the Phase I Project (hereinafter referred to as "Phase I Project") and Phase II Project (hereinafter referred to as "Phase II Project") of the Shenzhen Data Center Project, as corresponding development and construction loans.
It is understood that in May 2022, Yifeng Technology won the bid for the data center project of Huawei Cloud Computing Technology Co., Ltd. (hereinafter referred to as "Huawei Cloud"). It is planned to provide Huawei Cloud with customized data center services through the Shenzhen Data Center Project, and the construction of Phase I Project has been started based on Huawei Cloud's order. The development and construction entity is Yixun Technology, a wholly-owned subsidiary of Yifeng Technology, and Yixun Technology plans to invest 900 million yuan in the construction of Phase I Project.
With the further consolidation of the investment foundation recently, after consultation with other shareholders holding 49.9% of the project's equity, it is planned to increase the investment in the construction of the Shenzhen Data Center Project on the premise of confirming sales orders, planning the construction of Phase II Project, and planning to increase investment in construction funds of no more than 1.1 billion yuan.
The company stated that this investment in the Shenzhen Data Center Project will help to promote the company's strategic layout of data center business in core areas nationwide and the expansion of cloud data business. Considering that the order from Huawei Cloud has been obtained, and the construction of Phase II Project will be based on the confirmation of sales orders, the company believes that the risk is controllable.
Article Source: China IDC Circle
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