Understanding the Market | CHINA CHUNLAI Rises Over 5% as Chairman Donates to AI and Blockchain Technology
CHINA CHUNLAI's stock price rose by more than 5%, with an increase of 5.02% as of the time of publication, reported at HKD 4.6, with a transaction volume of HKD 23.8471 million. Mr. Hou Chunlai, the chairman of the board, announced a strategic donation to support the group's research and educational development in artificial intelligence (AI) and blockchain technology at its affiliated schools. In addition, the chairman also agreed to donate all profits from the data center to the group to promote technological innovation in the education sector
According to the Zhitong Finance APP, CHINA CHUNLAI (01969) has risen over 5%, currently up 5.02% at HKD 4.6, with a trading volume of HKD 23.8471 million.
In terms of news, CHINA CHUNLAI announced that Mr. Hou Chunlai (Chairman of the Board, Non-Executive Director, and Founder of the Group) has agreed to make a strategically significant major donation to support the Group's promotion of artificial intelligence (AI) and blockchain research and education development in its affiliated schools. The Chairman currently owns a data center located in Washington, USA. The data center is equipped with advanced infrastructure designed to support high-performance computing needs and is currently focused on enhancing AI-enabled computing and data center capabilities. It is positioned at the forefront of innovation in blockchain technology and AI-driven computing solutions.
The announcement stated that Chairman Hou Chunlai has agreed to provide the AI and blockchain technologies developed by the data center to the Group free of charge through donations. The free use of this donation will enable the schools under the Group to utilize cutting-edge technologies in AI and blockchain as needed, ensuring the Group remains at the forefront of technological innovation. In addition, the Chairman has also agreed to donate all profits generated by the data center to the Group to promote technological innovation in the education sector. The Chairman's donation demonstrates his commitment to supporting the Group and enhancing its capabilities through technology and funding
