WND-based data service provider listed in HKSE

Cloud Factory Technology Holdings Ltd is successfully listed on the Hong Kong Stock Exchange on June 14. [Photo/WeChat account: xinwu_wx]

Cloud Factory Technology Holdings Ltd was successfully listed on the Hong Kong Stock Exchange on June 14, becoming the first Wuxi-based company to go public in Hong Kong this year. This also marks the third new listing from Wuxi New District in 2024, solidifying the district's lead in both the number of new listings and total initial financing within Jiangsu's high-tech zones.

Since its establishment in WND, or Wuxi National Hi-Tech District, in 2015, Cloud Factory has emerged as a leading provider of IDC (internet data center) solutions and edge computing services in China. The company has carved out a significant niche in various domains including internet applications, value-added telecom services, information security, digital computing power, and storage.

Cloud Factory maintains strong partnerships with major telecom operators and institutions like the China Academy of Information and Communications Technology (CAICT) and Xi'an Jiaotong University. It is a key technical service provider for top-tier internet giants like Baidu, Alibaba, Tencent, and ByteDance.

The company's financial growth has been robust, with an average annual revenue increase of 23 percent since 2021. In 2023, it reported nearly 700 million yuan ($96.48 million) in revenue.

Cloud Factory Technology Holdings Ltd. [Photo/WeChat account: xinwu_wx]

The recent IPO is expected to raise approximately HK$529 million ($67.73 million), which will be primarily allocated towards improving service quality, enhancing edge computing infrastructure, and developing new edge computing technologies. The company also plans to establish its headquarters and a smart computing center in WND.