China’s Winner Tech Hits Limit Up Two Days in a Row After Doubling Server Service Charge
Wu Shuoju | Liao Shumin
DATE:  Nov 15 2023
/ SOURCE:  Yicai
China’s Winner Tech Hits Limit Up Two Days in a Row After Doubling Server Service Charge China’s Winner Tech Hits Limit Up Two Days in a Row After Doubling Server Service Charge

(Yicai) Nov. 15 -- Shares in Winner Technology surged by the exchange-imposed limit for the second straight trading day today after the Chinese provider of offline consumer data services said yesterday that it is doubling its charges for the use of the firm’s high-performance servers with immediate effect.

Winner Tech’s share price [SHE:300609] closed up 12.3 percent at CNY37.14 (USD5.13) today after earlier soaring 20 percent to CNY39.68. Yesterday the stock closed up 20 percent at CNY33.07.

The reason for the price hike is that Winner Tech’s partner Sichuan Bingji Technology has increased the service charge for servers. Winner Tech followed the action of Bingji Technology, a staff member in the Shanghai-based company’s securities department said when contacted by a Yicai reporter today. And the staff didn’t provide further information about the operation performance of this business. 

Winner Tech obtained the operation right of 200 high-performance servers embedded with US chipmaking giant Nvidia’s A100 graphic processing unit for a minimum term of two years from Neijiang-based Bingji in early September.

Winner Tech first announced the price hike on its WeChat account at 10.21 a.m. yesterday, which is not the regulatory designated information disclosure channel, but then deleted it. Despite this, its share price started to soar. The statement was reloaded again after the official announcement released on exchange at 11:52 a.m.

This has prompted the Shenzhen bourse to issue a letter of concern to Winner Tech, asking if the public disclosure of information through non-official channels is having a significant impact on its share price and investor decision-making.

Editor: Kim Taylor

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Keywords:   Winner Technology Co.