IDT INT'L (00167) subsidiary plans to purchase 40 AI servers for RMB 127 million.

IDT INT'L (00167) announced that on September 29, 2026 (after trading hours), the buyer, Zhejiang Hongli Tianqi Technology Development Co., Ltd. (an indirect wholly-owned subsidiary of the company), entered into a server purchase agreement with the seller, Hangzhou Dongnan Jitong Technology Co., Ltd., pursuant to which the buyer agreed to purchase and the seller agreed to sell 40 AI servers for a total consideration of approximately RMB 127 million (tax inclusive), in order to further implement the company's established strategy. Since resuming business in December 2023, the group has been focused on developing electronics-related businesses. In 2025, the board of directors identified upgrading the group's product ecosystem toward AI integration as a commercial necessity, and the group has purchased AI servers in order to expand its AI infrastructure and implement its established strategy. Since the beginning of 2026, breakthrough progress in AI model capabilities, together with the accelerated deployment of AI Agents, has led to a surge in consumer demand for AI functions, driving exponential growth in computing power (token) consumption, making the development and deployment of AI data infrastructure urgent. Accordingly, the group has accelerated the implementation of its established strategy and, through recruiting professional talent, is completing the construction and commissioning of its AI infrastructure. Currently, the AI industry continues to develop rapidly, and the widespread application of AI is driving rapid growth in computing power demand. The purchase is an important step for the group to further implement its established strategy. Upon completion of the purchase, the scale of the group's own AI infrastructure will further expand, and it will move from the initial development stage to the accelerated expansion stage.