SUNSHINE OIL (02012.HK): Subsidiary Holds 40% Stake in New Joint Venture to Build 6,000P Computing Power Centre
NewTimeSpace News: On 23 August 2026, Sunshine Oilsands Ltd. (02012.HK) voluntarily announced that its wholly-owned subsidiary, Sangxiang Petrochemical (Shanghai) Co., Ltd., together with Jiangsu Zhongke Supply Chain Management Co., Ltd., Shenzhen Sahara Hengxin Family Management Co., Ltd., Shanghai Chenzhixin New Energy Technology Co., Ltd., Shanghai Linweishuchen Technology Co., Ltd. and Shanghai Bespavo Energy Technology Co., Ltd. (collectively the JV partners), jointly invested to establish Deneng Zhisuan Artificial Intelligence (Beidaihe) Co., Ltd. in the Beidaihe District of Qinhuangdao City, with Sangxiang Petrochemical holding a 40% stake.
The AI computing power centre project leverages the Beidaihe government's existing power equipment systems and existing land and properties, combined with low-cost cooling energy provided by third parties, to build a 6,000P computing power centre. The project has received strong support from the Beidaihe government, covering project approval, permits for projects under construction and comprehensive supporting services; in addition, a government-controlled enterprise in Beidaihe will subsequently take an equity stake in the project. Once built and operational, the project will change the company's single business and profit model, bringing new profit growth points and laying a solid foundation for the company's entry into the AI track.
The company is a listed company headquartered in Calgary, listed on the Hong Kong Stock Exchange on 1 March 2012, focused on developing its significant oil sands lease interests in the Athabasca oil sands region, where it holds approximately one million acres of oil sands and oil and gas lease interests; it is focused on achieving milestone development targets in the West Ells project area, with an initial production target of 5,000 barrels per day.
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