On April 14, Xingyun Technology disclosed that its wholly-owned subsidiary, Changsha Yueyunshu Technology Co., Ltd., had officially entered into a significant [specific agreement type can be added here, such as "server leasing agreement"] with Customer Company V. The total contract value, inclusive of taxes, is projected to surpass 280% of the company's audited total assets from the latest fiscal year, and the agreement spans a leasing period of five years. The subsidiary has already remitted a performance bond amounting to RMB 100 million and intends to utilize raised capital along with idle funds to finance project procurement and cover working capital requirements. Successful execution of this agreement is anticipated to yield a favorable impact on the company's operational performance in both the current and forthcoming years. Furthermore, it will facilitate the company's foray into the server leasing market and propel its business transformation and upgrading initiatives.
