UCloud-W Proposes to Raise No More Than 1.5 Billion Yuan to Build Wulanqab Intelligent Computing Center

Radar Finance | Written by Yang Yang | Edited by Li Yihui

On March 20th, UCloud-W (Stock Code: 688158) announced a plan for a private placement of A-shares to specific investors in 2026. The plan proposes issuing no more than 45 million A-shares to up to 35 specific investors, raising a total of no more than 1.5 billion yuan, to fund the construction and operation of UCloud’s Wulanchabu Intelligent Computing Center and related clusters.

This project aims to build a high-density, multi-power compatible AIDC, along with supporting high-performance AI servers and other equipment, to meet downstream customer demands for AI infrastructure and computing power products.

The issuance will not result in a change of control of the company and aligns with national industrial policies and the company’s strategic development direction. The company has established detailed profit distribution policies and shareholder return plans to protect investors’ legal rights.

According to Tianyancha, UCloud was founded on March 16, 2012, with a registered capital of 453.095 million RMB. The legal representative is Ji Xinhua, and the registered address is Room 201, Building B, No. 619 Longchang Road, Yangpu District, Shanghai. Its main business is providing cloud computing services centered on self-developed and enterprise-essential IT infrastructure such as computing, storage, and networking.

Currently, the company’s chairman is Ji Xinhua, the secretary of the board is Wang Xinyu, with 865 employees. The actual controllers are Ji Xinhua, Hua Kun, and Mo Xianfeng.

The company has stakes in 15 subsidiaries, including UCloud Information Technology (Hong Kong) Limited, UCloud (Shanghai) Data Technology Co., Ltd., Sichuan UCloud Zhiyun Shulian Technology Co., Ltd., Shanghai Youming Cloud Computing Co., Ltd., Inner Mongolia UCloud Information Technology Co., Ltd., and others.

In terms of performance, the company’s revenue for 2022, 2023, and 2024 was 1.972 billion yuan, 1.515 billion yuan, and 1.503 billion yuan, respectively, with year-over-year changes of -32.02%, -23.17%, and -0.81%. Net profit attributable to shareholders was -413 million yuan, -343 million yuan, and -241 million yuan, with year-over-year growth rates of 34.73%, 17.08%, and 29.67%. During the same period, the company’s asset-liability ratios were 26.91%, 30.61%, and 29.16%.

Regarding risks, Tianyancha data shows the company has 33 internal Tianyan risks, 79 surrounding risks, 3 historical risks, and 663 warning alerts.