HK Stock Market Move | ITC PROPERTIES (00199) continues to rise over 13%! Plans to rename to Dexiangyun and advance the development of a 1GW green AI computing power base at Yangkou Port in Nantong.

ITC PROPERTIES (00199) has risen over 13%, and as of the time of writing, it has increased by 9.7%, reaching HKD 2.6, with a transaction volume of HKD 18.1065 million. In terms of news, ITC PROPERTIES recently announced a proposal to change its name to De Xiang Xin Yun Computing Power. The board believes that the existing name contains the term "real estate," which may no longer fully reflect the group's broader business scope and strategic direction. Changing the company name could establish a more appropriate and forward-looking corporate positioning, enhance the groups corporate image and market recognition, and align the company name more closely with the groups long-term business development strategy. It is worth noting that on July 2, ITC PROPERTIES acquired a plot of land in Nantong, Jiangsu, valued at RMB 2 billion, planning to focus on the construction and operation of green computing power infrastructure. Leveraging the green energy endowment of Xiaoyangkai, it aims to plan and build a large-scale green computing power center to high standards. By the end of July, ITC PROPERTIES also signed a strategic cooperation memorandum with the government of Rudong, Jiangsu, planning to establish a green artificial intelligence computing power center with a total IT load of 1GW, and initial project construction with an IT load scale of approximately 200MW.