Maxscend (688685.SH) to Spend CNY 890 Mln on Computing Server Equipment

Aerospace components maker Maxscend (688685.SH) said it has signed an equipment procurement contract with an unnamed counterparty (“Company A”) to buy computing server-related equipment for about CNY 890 million (tax included), with deliveries allowed in batches and all goods to be delivered no later than September 2026, according to Jiemian News. The company said the purchase is intended to support expansion of its computing power leasing services. Under the contract, Maxscend must pay a 30% deposit within three working days of signing, or about CNY 267 million. As of end-1Q 2026, the company reported cash and cash equivalents of CNY 217 million. Maxscend said it will raise funds through internal resources and financing from financial institutions, warning that higher-than-expected financing costs could weigh on net profit. Separately, Maxscend announced on June 27, 2026 that it plans to publicly list for sale a newly built, unused property in Suzhou’s Wuzhong district with an initial listing price of CNY 403 million.