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Auride plans 868 million yuan private placement to boost computing power and sapphire, subsidiary sells 22 servers for 51.5 million yuan same day
Auride announced on the evening of September 14 that it plans to issue A-shares to no more than 35 qualified investors, raising up to 868 million yuan for an Inner Mongolia sapphire production base project, a western domestic server cluster project, and supplementary working capital. Of this, 282 million yuan is earmarked for the Inner Mongolia sapphire production base project with a two-year construction period; 346 million yuan will go to the western domestic server cluster project, which involves leasing a data center in Ulanqab and purchasing domestic servers and supporting equipment, with a construction period of just three months; and the remaining 240 million yuan will be used to replenish working capital. The number of shares to be issued will not exceed 30 percent of total share capital, the issue price will be no lower than 80 percent of the average stock trading price over the twenty trading days before the pricing reference date, and the subscription shares will be subject to a six-month lock-up period. The plan still requires approval from the shareholders' meeting, review by the Shanghai Stock Exchange, and registration approval from the China Securities Regulatory Commission. A separate announcement on the same day showed that Auride's wholly owned subsidiary Shenzhen Zhisuanli Digital Technology Co., Ltd. plans to sell 22 servers to Hainan Jingshu Technology Co., Ltd. for 51.5 million yuan. The net book value of the underlying assets is 24.9143 million yuan, meaning the transaction price represents a premium of 20.6609 million yuan over book value. Preliminary estimates put the asset disposal gain at about 20.5905 million yuan, which will be recognized in the company's current-period profit or loss for 2026. Auride's main businesses are integrated computing power services and sapphire products. In the first half of 2026, revenue reached 303 million yuan, up 38.29 percent year on year, with integrated computing power services contributing 213 million yuan, or 70.13 percent of total revenue.
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Multiple listed companies released positive announcements on the evening of September 14; Xiangshan Co. plans to acquire Wuluo Zhihui for 800 million yuan
On the evening of September 14, multiple listed companies on the Shanghai and Shenzhen stock exchanges issued important announcements. Xiangshan Co. plans to acquire 100% equity in Wuluo Zhihui through a combination of share issuance and cash payment, with the total transaction consideration tentatively set at 800 million yuan. After the transaction, the company will add AI computing equipment business to its existing auto parts operations. Jintian Titanium Industry plans to raise no more than 300 million yuan through a private placement, while Aoride plans to raise no more than 868 million yuan for projects including the construction of a western domestic server cluster. Runze Technology plans to apply to financial institutions for additional credit facilities totaling no more than 50 billion yuan on top of its existing credit lines to increase investment in the AIDC sector. Chitianhua's wholly owned subsidiary Anjia Mining received approval from the Guizhou Provincial Energy Bureau for the expansion of the Huaqiu No. 2 Mine, with production capacity to be raised from the current 600,000 tons per year to 1.5 million tons per year. TCL Smart Home's second-phase project at its Thailand production base, with an annual capacity of 1.4 million refrigerators, has been completed and entered trial production. Lianke Technology plans to invest about 1 billion yuan to build a silica-carbon black circular economy integrated project in the Suez Canal Economic Zone in Egypt. In addition, Xingyun Technology disclosed that as of September 8, 2026, its five-year long-term computing power framework orders on hand reached 16.004 billion yuan. Huazhijie is planning to acquire 100% equity in Suzhou Geli Ming Electronic Technology Co., Ltd., and its shares will be suspended from trading starting September 15.
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Auride reports first-half loss of 7.97 million yuan, revenue up 38.3% year on year
Auride released its 2026 interim report. Operating revenue was 303 million yuan, up 38.3% year on year, while net loss attributable to the parent company was 7.97 million yuan, down 113.0% year on year. Second-quarter operating revenue was 183 million yuan, up 51.0% year on year, with net profit attributable to the parent company of 1.72 million yuan, down 97.5% year on year, and non-GAAP net profit attributable to the parent company turned positive at 360,000 yuan. The company's computing power integrated services business achieved significant growth, with operating revenue of 213 million yuan, accounting for 70.13% of total operating revenue. Overall revenue growth was mainly driven by increased sales in this business. As of the end of the second quarter, total assets were 2.171 billion yuan, up 1.7% from the end of the previous year, and net assets attributable to the parent company were 1.114 billion yuan, up 11.4% from the end of the previous year.
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Aurora Optoelectronics Proposes Linking Lock-up Share Release to Compensation Obligations, Breaking the Ice on Historical Performance Compensation Deadlock
Aurora Optoelectronics has released a performance compensation plan, targeting the long-standing difficulty in enforcing compensation obligations left over from its 2015 major asset restructuring. The plan proposes establishing a mechanism for lock-up share transferees to assume compensation duties, tying the eligibility to lift share lock-ups directly to the fulfillment of performance compensation obligations. The original actual controllers, Zuo Hongbo and Chu Shuxia, together owe approximately 391 million shares in compensation, accounting for over 90 percent of the total 403 million shares owed by all committed parties. However, the couple has never fulfilled their obligations and possesses no effective executable assets, leaving recovery efforts at an impasse. The plan stipulates that all shareholders who have legally acquired the couple's original lock-up shares must assume compensation obligations in proportion to their shareholdings. They must provide full cash compensation at a rate of 1.15 yuan per share plus accrued late interest before the lock-up can be lifted. The plan has been approved by the board of directors but still requires a verification opinion from an independent financial advisor and approval from the shareholders' meeting. The final recoverable amount remains highly uncertain.
Aurora expects a loss of 3.5 million to 7 million yuan in the first half of 2026
Aurora released its earnings forecast, expecting a net loss attributable to shareholders of the listed company of 3.5 million to 7 million yuan for the first half of 2026, and a loss of 5 million to 8.5 million yuan after deducting non-recurring items. In the same period last year, net profit attributable to the parent company was 61.39 million yuan, with a loss of 21.38 million yuan after deducting non-recurring items. The company stated that revenue from its computing power business grew significantly and achieved profitability, with a gross margin of about 20 percent, but revenue from the sapphire business declined slightly, and overall gross profit from the main business failed to cover period expenses, resulting in an operating loss. However, the loss after deducting non-recurring items narrowed significantly compared to the same period last year, by about 60 to 77 percent. In the first quarter of 2026, the company achieved revenue of 121 million yuan, with a net loss attributable to the parent company of 9.69 million yuan.
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Aurora Optoelectronics' nearly 100 million yuan computing power purchase from related party Kerong Cloud Computing draws inquiry; company says pricing is fair
The Shanghai Stock Exchange recently sent an annual report inquiry letter to Aurora Optoelectronics, focusing on the company's purchase of approximately 95.35 million yuan worth of computing power resources from its investee Xinjiang Kerong Cloud Computing Digital Technology Co., Ltd. Chairman Zhu Sangao also serves as a director of Kerong Cloud Computing. The inquiry asked whether this constitutes de facto control, business dependence, and fair pricing. Aurora Optoelectronics replied that Kerong Cloud Computing was jointly established by the company and a partnership under Karamay Cloud Computing Industry Investment and Development Co., Ltd., with each side appointing two directors. Major matters require approval by a majority of the board, and the state-owned party holds a veto right. The company cannot exercise sole control and, under accounting standards, it is deemed joint control rather than de facto control. Kerong Cloud Computing's 2025 revenue was 105 million yuan, of which computing power business revenue was 93.78 million yuan. Aurora Optoelectronics' purchases accounted for 99.95 percent of its computing power business revenue, but the company stated that Kerong Cloud Computing's equipment can be rented to the entire industry and there is no high degree of dependence. In 2025, the company purchased approximately 1,840 Z-X and Z-Y model computing power servers from Kerong Cloud Computing on a monthly basis, with a total tax-inclusive price of 99.35 million yuan. The unit price ranged from 5,200 to 6,000 yuan per server per month, determined by reference to open market quotes and settled monthly. The pricing and payment arrangements are fair, and the proceeds were used for equipment purchases, loan repayments, and operating expenses. No funds were found to have flowed to the controlling shareholder or other related parties.
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