Xingyun's Unit Signs Deal to Provide Computing Power Services for 5.51 Billion Yuan; Shares Down 3%

Xingyun Technology's (SHE:300209) unit, Hainan Xingyun Intelligent Computing Technology, agreed to provide computing power services to a customer for 5.51 billion yuan, according to a Shenzhen bourse filing on Thursday. Shares of the Chinese packaging production equipment manufacturer dropped 3% during Friday's afternoon trade. The customer will purchase computing power leasing services, which will be conducted in batches. The agreement has a term of five years.