UCloud founders divest stakes in strategic share transfer

UCloud Technology's co-founders, Mo Xianfeng and Hua Kun, are transferring a combined 23,428,536 shares, representing 5.13% of the company's total share capital, to Shanghai Taiying Private Equity Fund Management Co., Ltd. The share transfer price is RMB 19.74 per share, totaling RMB 462,479,300.64. The private equity fund has pledged not to reduce its holdings for 12 months post-transfer.

The share transfer is driven by the founders' personal financial needs and aims to leverage the recipient's industry background to deepen UCloud's presence in niche markets and expand its cloud computing ecosystem. This transfer will not alter the company's controlling shareholder or actual controller. The transaction is pending compliance confirmation from the Shanghai Stock Exchange and share transfer registration.

Separately, UCloud Technology's Ulanqab data center project (Phases 1 and 2) generated a cumulative net profit of RMB 87,628,400 from 2020 to 2024, falling short of the projected cumulative net profit of RMB 184,752,600. The project has an investment progress of 92.80% as of December 31, 2024, with total raised funds of RMB 936,851,000 invested.