Xingyun Technology Signs 16.878 Billion Yuan GPU Rental Contracts; Head Customers Raise Prices in Q3

On October 13, Xingyun Technology disclosed in its investor relations activity record that as of October 9, it had signed all computing power contracts with five core customers. The orders adopt a heavy-asset model involving self-purchased GPUs, self-built clusters, and fixed rental income, with five 5-year contracts totaling 16.878 billion yuan and average annual rental income of approximately 3.376 billion yuan.

Among the contracts, Customer V, a central state-owned listed company, accounts for 6.523 billion yuan over a 3+2-year term; Customer VC accounts for 5.508 billion yuan over five years; Customer VB, a large model vendor, accounts for 3.053 billion yuan over five years; Customer VD and Customer VE account for 922 million yuan and 872 million yuan respectively.

The announcement also said that in the third quarter of 2026, major customers including V, VB, and VC had negotiated rent increases for some signed orders.