Aurora Optoelectronics' nearly 100 million yuan computing power purchase from related party Kerong Cloud Computing draws inquiry; company says pricing is fair

Regulation
โดย 南方财经网·Read original
Summary · why it matters

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.

Impact on stocks 1

Others▲ · 1 stocks
Aurora Optoelectronics Co Ltd
600666
± MixedCapitalrelevance

Related-party transaction for computing power purchase raises governance concerns but company defends pricing as fair; net impact unclear.

Off-coverage companies 2

新疆克融云算数字科技有限公司Private± Mixed
Demandrelevance

Kerong Cloud Computing's revenue is 99.95% dependent on Aurora's purchases, but company claims no high dependence; relationship under scrutiny.

克拉玛依市云计算产业投资开发有限公司Private± Mixed
relevance

© 2026 MarketDXNews