HK Stock Market Move | Deson New Cloud Computing Power (00199) rises nearly 6% against the market trend; the company has officially completed its name change, with AI infrastructure-related business forming an independent reportable segment.

Deson New Cloud Computing Power (00199) rose nearly 6% against the market trend. As of press time, it was up 3.44% at HK$2.555, with a turnover of HK$3.1245 million. On the news front, ITC PROPERTIES issued an announcement on September 22 that its stock short name will be changed from "ITC PROPERTIES" to "Deson New Cloud Computing Power," effective from 9:00 a.m. on September 25, with the stock code remaining unchanged. This name change marks the further implementation of the company's strategic transformation from traditional real estate development to an AI computing power infrastructure platform. It is worth noting that the company stated that, based on the group's currently available unaudited management accounts and internal financial reporting information, and after management assessment and confirmation by the company's board of directors, the AI infrastructure-related business has independently identifiable revenue, costs, and operating results, and its operating results are also regularly reviewed separately by management for resource allocation and performance evaluation. With reference to the principles for identifying operating segments and reportable segments set out in Hong Kong Financial Reporting Standard No. 8 "Operating Segments," the board of directors considers that this business has met the conditions for an independent reportable segment.