SHEEN TAI (01335) subsidiary plans to purchase machinery for 13.98 million yuan.

SHEEN TAI (01335) announced that on April 27, 2025, the company's wholly-owned subsidiary, Shun Hong Limited (the buyer), entered into a sales contract with an independent third party (the seller). According to the contract, the buyer agreed to purchase machines for a total price of 13,987,500 yuan, including 102 sets of 4U36 storage servers, 50 sets of 2U16 computing servers, and accessories. The storage capacity of these machines is approximately 70 petabytes, which can be used for cloud computing and data storage services. These machines can also be used for mining Filecoin. Filecoin is a cryptocurrency and decentralized storage network that provides file storage and sharing services based on blockchain technology. Filecoin is mainly designed to encourage storage service providers to convert unused storage space into income-generating assets and make their hard drive space available for network use. The company intends to use these machines to mine Filecoin. In recent years, the digital asset and cloud computing industries have developed rapidly. Considering the increasing popularity of cryptocurrency payments worldwide, the potential of Filecoin in data storage-related functions, and the potential for Filecoin to become one of the main cryptocurrencies, the board of directors believes that the contract presents a good opportunity for the group to enter into cryptocurrency mining and data storage-related businesses. These machines will be shipped to and operated in Hong Kong, China. The seller is mainly responsible for providing cloud computing, artificial intelligence, and big data storage solutions.