ITC PROPERTIES Group Limited (ASX: 00199) has announced a significant strategic development regarding its business operations.
The company's board of directors is pleased to announce that on July 21, 2026, the company entered into a strategic cooperation memorandum with the Management Committee of the Jiangsu Rudong Yangkou Port Economic Development Zone. This memorandum, titled the "Yangkou Port Green Intelligent Computing Center Investment and Construction Cooperation Memorandum," outlines a framework for collaboration.
Pursuant to the memorandum, both parties intend to leverage the locational advantages of the Yangkou Port Economic Development Zone, including its port resources, energy infrastructure, industrial development potential, and conditions for green, low-carbon development. The collaboration aims to facilitate strategic investment and construction in green artificial intelligence computing infrastructure, computing resource operation platforms, and related supporting industries within the region.
The board notes that while the cooperation project is currently in its preliminary planning stage, making a reliable estimate of its specific future impact on the group's revenue, profit, assets, liabilities, and cash flow impossible at this time, the project holds significant potential. The board believes the Yangkou Port Economic Development Zone possesses a solid foundation of resources, including port access, land, power supply, offshore wind energy, photovoltaic power generation, energy storage, liquefied natural gas cold energy, and industrial support systems, which are expected to provide favorable conditions for the project.
If successfully implemented, the cooperation project is anticipated to assist the group in several key areas. It is expected to help establish a green AI computing infrastructure platform with large-scale expansion capabilities. The project would also promote the group's gradual expansion from project investment into the construction of computing centers, the operation of computing resources, client services, and industrial ecosystem collaboration.
Furthermore, the initiative aims to utilize green energy and cold energy resources to reduce the long-term energy costs of the computing center, thereby enhancing its operational competitiveness. It seeks to connect with potential demand in areas such as artificial intelligence, cloud services, high-performance computing, scientific research innovation, and overseas expansion of computing services. Finally, the project is projected to further broaden the group's revenue sources and enhance its long-term development potential.
This announcement follows a previous disclosure regarding the company's conditional acquisition of a 20% equity interest in PYI Investment Holdings Limited and the acceptance of a related loan transfer. The core assets of the PYI Investment Group include multiple land parcels in the Xiaoyangkou area of Yangkou Town, Rudong County, Nantong City, Jiangsu Province. The business plan for these assets involves developing an artificial intelligence computing center based on these land parcels and local green energy resources. The newly announced strategic memorandum represents a further extension of the group's business layout in this region.