BRIEF: Cloud Factory chairman to sell up to 15% stake
Cloud Factory Technology Holdings Ltd. (2512.HK), a provider of internet data center services, announced on Monday that its chairman and CEO plans to sell up to 69 million of his shares, representing approximately 15% of the company’s issued share capital. The company said it doesn’t expect the sale to affect its operations.
The sale will drop the number of shares owned by controlling shareholder Ru Yi Information Technology Co. Ltd., which is owned by Cloud Factory Chairman and CEO Sun Tao, from 345 million shares to 276 million shares, lowering its stake to 60%.
Founded in 2021 and headquartered in the Eastern Chinese city of Wuxi, Cloud Factory provides internet data center solution services, edge computing services, and ICT and other related services. In 2024, the company recorded revenue of 707 million yuan ($98 million), up 1.7% year-on-year, while its net profit dropped 13% to 12.09 million yuan.
Cloud Factory’s shares fell 22.5% during the morning trading session in Hong Kong.
By Lee Shih Ta
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