Dexiang Real Estate (00199): AI infrastructure-related businesses form independent reportable divisions

Zhitong Finance App News, Dexiang Real Estate (00199) announced that in September 2026, the company officially changed its name to “ITC Neocloud Group Limited”. With the development of the Group's artificial intelligence (AI) infrastructure-related business, the Group added an artificial intelligence (AI) infrastructure and computing power service division, which mainly covers AI infrastructure operation, AI computing power orchestration and cloud services and model services and application platforms.

Since the Group began delivering artificial intelligence computing power technology services in June 2026, the Group has gradually established business capabilities covering GPU computing resources, high-bandwidth network resources, massive data storage resources, computing power operation and IT operation and maintenance services. As of the date of this announcement, the relevant business has begun commercial delivery and revenue generation, reflecting that the Group's artificial intelligence (AI) infrastructure-related business has gradually entered the commercial operation stage from early business development.

At the same time, the Group has established a relatively independent management and operation structure for artificial intelligence (AI) infrastructure-related businesses, including but not limited to dedicated management and technical teams, business development and customer service functions, operating processes, and independently identifiable financial data. The management has also reviewed the business's operating performance separately on a regular basis, allocating resources and evaluating business performance based on this.

According to unaudited management accounts and internal financial reporting data currently available to the Group, and after management evaluation and confirmation by the Board of Directors of the Company, artificial intelligence (AI) infrastructure-related businesses already have independently identifiable revenue, costs and operating performance, and their operating results are also regularly reviewed separately by management to assess resource allocation and performance. Referring to the principles relating to the identification of operating divisions and reportable divisions contained in Hong Kong Financial Reporting Standard No. 8 “Operating Division”, the Board considers that the business has met the requirements for an independent reportable division.

The AI Infrastructure and Computing Power Services Division mainly covers the following three business segments: (i) AI Infrastructure Operation (AI Infrastructure Operation), which mainly covers the development, deployment, operation and IT operation and maintenance of artificial intelligence data centers (AIDC) and related computing power infrastructure, as well as the provision of high-bandwidth network resources, massive data storage resources and related technical services; (ii) AI Computing Orchestration and Cloud Services (AI Computing Orchestration and Cloud Services) Cloud Services) mainly covers the integration, scheduling, operation, cloud delivery and related customer service of computing power resources; and (iii) Model Services and Application Platform (Model Services and Application Platform), which mainly covers model services, application support and related platform capabilities around artificial intelligence model training, inference and application scenarios.

The Group now performs separate accounting, resource allocation and performance assessments for artificial intelligence (AI) infrastructure-related businesses in internal management and financial reporting, and manages them as an independent reporting division. The Group will also disclose artificial intelligence (AI) infrastructure-related businesses as an independent reportable segment in its interim results and interim reports for the six months ended September 30, 2026.

The Board believes that the artificial intelligence (AI) infrastructure-related business has been identified as an independently operated and reportable segment, reflecting that the business has begun commercial delivery and revenue generation. The Group manages and discloses it as an independent reportable division, which helps the Group allocate management, technical and financial resources according to the actual development of the business, and also helps shareholders and potential investors understand the operating performance of the business and its contribution to the Group's overall business.

The Group will continue to carefully promote the development of the three businesses of AI infrastructure operation, AI computing power orchestration, and cloud services and model services and application platforms under the Artificial Intelligence Infrastructure and Computing Power Services division, while maintaining its main business of property development.