ITC Neocloud (00199.HK): sets up AI committee, AIDC projects advance
- The committee is supervised by the Board and can make operating decisions within its remit; it is a group management committee, not a board committee.
- The Nantong AIDC project is advancing a government cooperation agreement, Phase 1 land, energy assessment and client demand, while green power supply is studied with a large state-owned energy firm.
NewTimeSpace News: On 21 October 2026, ITC Neocloud Group Limited, now ITC Neocloud Group Limited (stock code: 00199), set up an AI business management committee supervised by the Board with power to make operating decisions; it is a management committee, not a board committee.
Chaired by executive director Cao Xinwei, also AI business head, with technology head Sun Wenzheng and the group finance head. The Group plans an AI data centre in Nantong, Jiangsu, engaging Jiangsu Provincial Engineering Consulting Centre as adviser and advancing a government cooperation agreement, Phase 1 land, energy and client demand, while studying green power supply with a large state-owned energy firm. Its Hong Kong AIDC project has a local design consultant, with site options and an EOI under way and initial consensus with power suppliers, though nothing is binding. Computing cloud services and a paid model platform are running. The Group cautioned the projects may not proceed.
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