QiaoYin City Management to Buy Up to 67 Million Yuan Computing Equipment; Shares Down 7%

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QiaoYin City Management (SHE:002973) plans to buy up to 66.6 million yuan of computing servers and related equipment as it expands into computing services, according to a Wednesday filing.

The company also plans to sign a five-year computing services deal with an undisclosed customer, worth 66.6 million yuan including tax per year.

QiaoYin City Management expects the deal to generate about 60 million yuan in annual revenue.

Shares of the urban management services provider fell 7% in recent trade.

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