"GDKGBA Holdings" is renamed "Guangdong-Hong Kong Bay Calculus" (01396): A new look for the Hong Kong stock pure intelligence target.

On April 2, 2026, GD-HKGBA HLDGS (01396.HK), a main board listed company on the Hong Kong Stock Exchange, passed a resolution at a special shareholder meeting to rename the company to "Greater Bay Area AI Computing Tech Co., Ltd." Recently, after completing the relevant local regulatory procedures, Greater Bay Area AI Computing Tech Co., Ltd. announced the official use of its new name. This is not just a simple change of company name, but a strategic declaration of the company's focus on the AI computing track. The adjustment from "Holdings" to "AI Computing Tech" represents a restructuring of the company's business structure and a switch in development track, marking its complete transformation into a new posture with a highly unified business and attribute, solidifying its position as a rare pure AI computing target on the Hong Kong Stock Exchange. Orderly transition: From industrial and urban services to gradual switch to AI computing The renaming is not a sudden decision, but a result of the orderly progression of strategic transformation. Looking back to October 2025, Greater Bay Area AI Computing (01396.HK) completed the acquisition of Shenzhen Tiandun Data Technology Co., Ltd., a crucial step in entering the AI computing power track. After the acquisition of Tiandun Data, the company established a dual-wheel development strategy of "infrastructure + AI," gradually reducing traditional industrial and urban services and shifting resources towards computing power services, smart computing center construction, and other cutting-edge technology fields. The pace of transformation is accelerating: In January 2026, Shenzhen Futian Capital Operations Group under Futian District, Shenzhen, injected 800 million yuan into the company, specifically for the deployment of Tiandun Data's computing power network in the Greater Bay Area. The entry of state-owned capital not only provided financial support but also endorsed its industry position, company operation status, and anticipated high growth potential. Strengthening performance: Computing power business as the pillar, orders securing long-term growth The confidence for the renaming comes from solid performance support. In 2025, Greater Bay Area AI Computing achieved a revenue of 1.002 billion yuan, with a net profit attributable to the parent company of 73 million yuan, successfully turning losses into profits and completely overcoming the adjustment pressure from traditional businesses. Among them, the AI computing power business became the core engine of growth, contributing 617 million yuan in revenue for the year, accounting for 61.5% of total revenue, with a gross profit margin of 39.6%. These are only the consolidated data from the acquisition benchmark date to the end of the year. According to the synchronized financial report of Tiandun Data, Tiandun Data's total revenue for the full year of 2025 was 2.03 billion yuan, a year-on-year growth of 757.9%, with a gross profit of 450 million yuan, a year-on-year growth of 764.0%, and a net profit reaching 200 million yuan, showing strong growth momentum. As of now, Tiandun Data under Greater Bay Area AI Computing has delivered and stably operated FP16 dense computing power of over 42,000 PFLOPS, operated over 10,000 high-power cabinet resources, maintained an on-shelf rate of over 95%, and expanded its business coverage to multiple core regions in the country and some parts of Southeast Asia; with a stable amount of billed computing power orders exceeding 15 billion yuan, which continue to grow rapidly, providing sufficient support for stable performance growth in the next 3-5 years, solidifying its position in the forefront of domestic smart computing service providers. Long battery life advantage: Infrastructure accumulation empowers, continuous optimization of financial structure Unlike domestic pure IDC enterprises, Greater Bay Area AI Computing leverages its previous accumulation of resources and experience in the industrial and urban operation fields, transforming idle industrial parks into high-performance smart computing centers to lower the construction cost and period of computing centers while revaluing traditional assets. This "physical infrastructure + computing power services" model has formed unique industry advantages, enhancing competitive edge in the track. At the same time, the company's financial condition continues to improve, with the ratio of interest-bearing debt declining from 45.3% in 2024 to 28.2% in 2025; the weighted average interest rate of financing in 2025 was 4.6%, which has dropped to a minimum of 1.9% in 2026; and holding credit lines exceeding 30 billion yuan from financial institutions. A healthier financial condition provides ample funding space for further expansion of smart computing business, ensuring sustained growth and stability. Talent + Ecology: Building solid technical barriers, expanding growth space Talent is a crucial support in the AI computing industry. Tiandun Data under Greater Bay Area AI Computing, relying on over a decade of industry accumulation, has cultivated and attracted a large number of industry composite talents. The employee team shows characteristics of high education level and youthfulness, with an average age of 32. The core management team are all born in the 1980s, deeply rooted in the fields of ICDT and artificial intelligence for many years. To consolidate technological advantages and enhance the company's capacity for strategic leap, Greater Bay Area AI Computing has made frequent moves in talent introduction recently. In April 2026, the company appointed Professor Liu Xiaoyan, Vice Dean of the School of Integrated Circuits at Peking University, as an independent non-executive director; in January of this year, Dr. Qian He from Tsinghua University was appointed to the same position. Both scholars have extensive experience in the fields of integrated circuits and artificial intelligence. Professor Liu Xiaoyan has rich expertise in chip architecture optimization and computing hardware upgrades, holding more than 50 patents; Dr. Qian He's team has developed a resistive storage and computing system, far surpassing traditional GPU in computing efficiency, with related achievements being published in the journal Nature. The addition of top talents will help the company optimize its underlying computing architecture, accelerate the commercialization of technology, and focus on resolving industry pain points of "high power consumption and low efficiency." In terms of ecological layout, the company has established strategic partnerships with industry leaders and key players such as Hgtech, Huawei, and Run Six Feet, forming a complete industry chain ecology of "computing power hardware + scheduling platform + industry application." The business coverage has gradually expanded to Southeast Asia, aligning with the "Digital Belt and Road" strategy, opening up overseas growth space. Industry trend: Policy + market double dividends, valuation recovery expected The transformation of Greater Bay Area AI Computing coincides with the golden window period of the AI computing power industry. Currently, with the acceleration of AI model iterations, the smart computing center as a core infrastructure of the digital economy is witnessing continuous explosive demand. According to data from the China Institute of Information and Communications, the scale of China's computing power market exceeded 1.8 trillion yuan in 2025, and is expected to exceed 2.5 trillion yuan in 2026 and reach 4 trillion yuan by 2028, with an annual compound growth rate exceeding 40%. Among them, the growth rate of value-added services such as computing power leasing and operation will far exceed the industry average, becoming the core growth pole of the computing power market. At the policy level, Guangdong Province's action plan for "artificial intelligence+" clearly proposes the establishment of a national intelligent computing power hub; the comprehensive advancement of the "East Node, West Algorithm" strategy, with the Greater Bay Area as a core computing power node, continues to release policy dividends. As a local smart computing enterprise in the Greater Bay Area, the company has prominent advantages in location, resources, state-owned asset backing, technological barriers, order security, among others, compared to peers in the same track, showing outstanding performance in full-stack technical capabilities, asset-liability ratio, order scale and certainty, and profit elasticity, with the potential for significant valuation recovery. In February 2026, the company was included in the MSCI China Small Cap Index, gaining international recognition, with liquidity and market attention continuously increasing. Future prospects: From computing power service provider to digital ecosystem builder After the completion of the renaming, the strategic positioning of Greater Bay Area AI Computing is becoming clearer: based on AI computing, the company aims to build a full-chain technology enterprise of "computing power supply + technical R&D + industry empowerment + ecological operation," upgrading from a simple "computing power rental company" to a "digital ecosystem builder." In the short term, the company will accelerate the expansion of smart computing center clusters, steadily releasing performance based on existing orders; in the medium to long term, it will deepen the technological iteration of the "Quantum Surge" platform, expand services for small and medium-sized enterprises, developer ecosystems, AI vertical applications, and other new scenarios, evolving from a "Token super factory" to a "large-scale smart computing technology service and AI application incubation platform," continuously enhancing business value. From "GD-HKGBA HLDGS" to "Greater Bay Area AI Computing," this is not just a strategic transformation of a company, but a vibrant example of traditional industries embracing the digital economy and achieving high-quality transformation. In the era where AI computing is becoming a strategic resource and digital economy is reshaping the industry landscape, Greater Bay Area AI Computing has stepped onto a new track and embraced a new mission, aiming to become a benchmark in the smart computing industry in the Greater Bay Area and even nationwide, bringing new growth imagination space to the market and investors.