IDT INT'L (00167.HK): To Buy 40 AI Servers for RMB 127.11 Million
NewTimeSpace News: On 29 September 2026 (after trading hours), the Purchaser, Zhejiang Hunglap Tianqi Technology Development Co., Ltd., an indirect wholly owned subsidiary of IDT International Limited (stock code: 00167.HK), entered into a servers purchase agreement with the Vendor, Hangzhou Dongnan Jitong Technology Co., Ltd., pursuant to which the Purchaser agreed to acquire and the Vendor agreed to sell 40 units of AI servers for a total consideration of approximately RMB 127.11 million (equivalent to approximately HKD 145.50 million) (tax included).
The Consideration will be paid by telegraphic transfer by batch. Upon delivery of each batch of AI servers to the Purchaser's designated location and the passing of the Purchaser's inspection, the Purchaser will issue a goods receipt note and, upon receipt of a valid special VAT invoice of an equal amount, pay the corresponding portion. All AI servers shall be delivered by 31 October 2026, with all transportation, insurance and related costs borne by the Vendor. A 36-month warranty period commences from the day following the issue of the goods receipt note, during which the Vendor provides the original manufacturer's nationwide warranty service. The Purchaser intends to fund the Consideration by bank loans and the Group's internal resources.
The Group is principally engaged in the design, development, manufacture, sales and marketing of electronic products and the provision of AI infrastructure services. In 2025, the Board considered it commercially imperative to upgrade the Group's product ecosystem toward AI integration; since the beginning of 2026, breakthroughs in AI model capabilities and the large-scale deployment of AI Agents have driven exponential growth in computing power consumption. Upon completion of the Purchase, the scale of the Group's own AI infrastructure will be further expanded, progressing from an initial development stage to an accelerated expansion stage.
As one or more of the applicable percentage ratios in respect of the Purchase exceed 5% but all of them are less than 25%, the Purchase constitutes a discloseable transaction and is subject to the reporting and announcement requirements under Chapter 14 of the Listing Rules.
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