MTT GROUP (02350.HK): enters into framework agreement with Baotou Municipal Government for "Computing-Power-Electricity-Data" industrial base
NewTimeSpace News: On 18 August 2026, MTT Group Holdings Limited (stock code: 02350) announced in a voluntary announcement that it reached a framework agreement with the Baotou Municipal People's Government of the Inner Mongolia Autonomous Region, PRC on 18 August 2026 (after trading hours) for the implementation of the "Computing-Power-Electricity-Data" integrated industrial base project in Baotou, with both parties aiming to achieve common development in the integrated field of "green power access - high-quality computing power - computing-power-electricity coordinated dispatch - data processing - AI talent cultivation".
According to the announcement, the cooperation includes building an integrated industrial base combining "computing-power-electricity-data", leveraging Baotou's abundant green power resources and vocational education resource advantages; the Company will actively introduce renowned think tanks such as big data research institutes and well-known universities or research institutes, helping Baotou establish a digital infrastructure foundation, using the green computing power industry as a breakthrough to jointly cultivate emerging digital industries and talents including artificial intelligence, embodied robots and data annotation. The Baotou Municipal Government will grant the Company strategic partner treatment and support related construction works, while the Company should promptly promote and implement the cooperation project and settle the project in Baotou.
The announcement states that the framework agreement is not legally binding and only sets out the preliminary intentions of the parties, with the contemplated matters subject to further negotiation and, where applicable, the execution of definitive agreements; the proposed transaction may not proceed, and if materialized as a notifiable transaction under the Listing Rules, the Company will publish further announcements in due course.
NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.
