Changes in Hong Kong stocks | Wireless Group (00511) is nearly 7% planning to establish a joint venture with Jihui Capital to provide advanced computing power services

The Zhitong Finance App learned that Wireless Group (00511) opened nearly 7% higher. As of press release, it rose 6.96% to HK$2,765, with a turnover of HK$629,900.

According to the news, Wireless Group announced that on August 10, 2026, Wireless Group and Triton Square Limited, an affiliate of Jihui Capital, signed an agreement framework to establish a new joint venture to provide advanced computing power services for artificial intelligence-related purposes in Hong Kong. It is proposed that Wireless Group and GX Capital hold 51% and 49% of the common voting shares in the joint venture company, respectively.

After signing the agreement framework, Wireless Group and Jihui Capital will aim to sign a formal agreement within the second half of 2026 to establish a joint venture and begin implementing the project. The project will be implemented in stages over the next few years. Funding sources include capital investment of up to HK$2 billion from Jihui Capital into the joint venture, project bank financing, and group internal resources. The company aims to put the first phase 1A of the project into operation (planned computing power of about 10,000 PetaFlops) from the fourth quarter of 2027.