HK Stock Market Move | ITC NEOCLOUD (00199) closed up over 10%; the company has established an AI management committee and is advancing the Rudong and Hong Kong AIDC projects.

ITC NEOCLOUD (00199) moved higher in late trading. As of the close, it rose 10.08% to HK$0.655, with a turnover of HK$3.4336 million. On the news front, ITC NEOCLOUD recently announced that the company has established an AI business management committee responsible for AI business operational decisions. In terms of AI infrastructure operations, the company plans to develop an AIDC project in Rudong County, Nantong, Jiangsu Province, and is advancing preparatory work, while studying green power direct supply cooperation with a large state-owned energy enterprise; it is also advancing an AIDC project in Hong Kong, where preliminary construction planning and design are underway. In a research report, uSmart Securities said the catalysts for ITC NEOCLOUD's share price rise include: recognition of large-scale computing power revenue in 26Q3; newly signed computing power service orders on hand; approval for the start of construction of the Nantong project in 27Q1; completion of project equity financing improving funding visibility; recognition of scaled revenue from the Token platform and the finalization of model partners. The firm noted that Deson is currently in a stage of "resources already locked in, performance not yet delivered," and the valuation anchor should start from a discount to the steady-state multiples of comparable companies, gradually converging toward the industry average as orders and commissioning progress.