JingJing New Energy Acquires Shanghai Youfu Cloud for HK$2.2B to Enter AI Computing Market on June 29

According to an announcement on June 29, JingJing New Energy (01783) agreed to acquire YV CLOUD Limited and its operating subsidiary Shanghai Youfu Cloud Computing Co., Ltd. for a base consideration of HK$2.2 billion, with a maximum of HK$2.5 billion. The transaction will be completed through a VIE contractual control structure. Following completion, JingJing New Energy will gain control of Shanghai Youfu's IDC and AI computing rental assets, marking the company's formal entry into the AI computing market.
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