Increase computing power business! Anokie plans to acquire control of Guangzhou Fengyun, with the target company claiming that its revenue will surpass 1 billion yuan by 2025.

Against the backdrop that it is expected to continue incurring losses in 2025, Annoqi (SZ300067, stock price 4.21 yuan, market value 4.86 billion yuan) has thrown out a major asset restructuring plan to the outside world, hoping to step up and further deepen its computing power business.

On the evening of April 7, Annoqi announced that the company is planning to acquire control of Guangzhou Fengyun Information Technology Co., Ltd. (hereinafter referred to as “Guangzhou Fengyun”) through a combination of issuing shares and paying cash, and to raise supporting funds. As the transaction is expected to constitute a major asset restructuring, the company’s stock will be suspended from trading starting from the opening of trading on April 8, 2026.

A reporter from Daily Economic News learned that Guangzhou Fengyun, the target company for this acquisition, is an artificial intelligence computing network service provider that has seen rapid revenue growth in recent years. Guangzhou Fengyun’s official website claims that its revenue scale in 2025 has already exceeded 1 billion yuan. On the other hand, as the acquirer, Annoqi is expected to post losses amounting to tens of millions of yuan in 2025, and the loss amount is set to widen year over year. In 2024, Annoqi successfully entered the computing power leasing and operations field through a strategic acquisition of Shanghai Gengcong Information Technology Co., Ltd. (hereinafter referred to as “Gengcong Technology”).

Planning to acquire the controlling stake of Guangzhou Fengyun

According to Annoqi’s disclosures, the company is planning to acquire control of Guangzhou Fengyun, an artificial intelligence computing network service provider, through a combination of issuing shares and paying cash, and plans to raise supporting funds.

The announcement states that the transaction is expected to constitute a major asset restructuring as defined in the Administrative Measures for Major Asset Restructuring of Listed Companies. To safeguard investors’ interests and avoid significant impact on the company’s securities trading, Annoqi’s stock will be suspended from trading from the opening of trading on April 8, and it is expected to disclose the relevant transaction plan and apply for resumption of trading before the market opens on April 22.

The preliminary counterparties to this transaction include Feng Shubin, Guangdong Funeng Investment Holding Co., Ltd. (hereinafter referred to as “Funeng Investment,” a wholly owned subsidiary of the listed company ST Funeng), and other shareholders of Guangzhou Fengyun.

On April 7, ST Funeng (SZ300173, stock price 4.12 yuan, market value 3.027 billion yuan) also simultaneously released related announcements, stating that, in order to further focus on developing its core business, Funeng Investment plans to transfer its 21% equity interest in its investee company Guangzhou Fengyun through a public listing. In its announcement, Annoqi stated that it intends to participate in the bidding to acquire the stake.

A reporter from Daily Economic News learned that ST Funeng acquired a 21% equity interest in Guangzhou Fengyun in 2021. Now, ST Funeng is preparing to exit its investment; this portion of equity will be “put on the shelf,” and Annoqi’s intention to take over adds more points of interest to this transaction.

Guangzhou Fengyun’s revenue has grown rapidly in recent years

The reporter consulted Guangzhou Fengyun’s official website and found that Guangzhou Fengyun was established in 2014, positioning itself as an “artificial intelligence computing network service provider.” Its core businesses include data centers (IDC), edge computing, and computing power services, providing customers with services such as colocation and hosting of server racks, GPU (graphics processing unit) computing power leasing, and others.

The website shows that in recent years, Guangzhou Fengyun’s revenue has been in a period of rapid growth. The company’s revenue scale increased from 470 million yuan in 2021 to exceeding 700 million yuan in 2023, then to exceeding 800 million yuan in 2024, and in 2025 further broke through the 1 billion yuan mark.

According to ST Funeng’s historical disclosures, in the first three quarters of 2024, Guangzhou Fengyun achieved operating revenue of 575 million yuan, and net profit of 12.1553 million yuan (the data are unaudited).

Before Annoqi expanded its main business into the computing power field by acquiring Gengcong Technology in 2024, Annoqi mainly engaged in fine chemical businesses such as disperse dyes and digital ink. Even so, the company’s performance in recent years still has not met expectations.

A reporter from Daily Economic News learned that since 2020, Annoqi’s profitability has been under continuous pressure, and it recorded its first annual loss in 2024. According to the company’s 2025 annual performance forecast it released, Annoqi expects its 2025 net profit attributable to shareholders to be -65 million yuan to -46 million yuan.

With the company trapped in the predicament of losses, this acquisition of Guangzhou Fengyun may be a key step for Annoqi to deepen its transformation and seek a new growth engine.

Daily Economic News