Doushen (Beijing) Education & Technology Inc. (300010.SZ) has announced that its wholly-owned grandchild company, Doushen Hong Kong Limited, has entered into a Cloud Computing Service Agreement with a VB client.

Under the agreement, Doushen Hong Kong will serve as the service provider, delivering cloud computing services to the client over a 60-month service term, with the total contract value of this order amounting to US$119 million.

This contract represents a large-scale computing power service project under the company's intelligent computing services business and is a key initiative in cultivating its second growth curve.

For this first order, the service period spans 60 months, with the client paying 40% of the total order amount in advance as agreed and paying service fees on a monthly basis, which helps ensure the orderly development of the new business.

The signing and implementation of this contract reflect the company's business expansion from AI applications into the computing infrastructure sector.

Through this project, the company will accumulate operational experience in large-scale computing power projects, supporting the future market expansion of its intelligent computing business.