Hangun Technology Secures $24.5B in Long-Term AI Computing Framework Orders

Hangun Technology ($300209) has reported a backlog of RMB 16.04 billion (approximately $2.45 billion) for its five-year long-term AI computing framework orders as of September 8. Some customers began receiving deliveries in August, recognizing sales revenue for the same month. The company disclosed in its investor relations records that order clients include major state-owned enterprises, listed companies, and key large language model providers. In July, three core orders completed price adjustments and expansion plans, with initial deliveries to V, VB, and VC customers starting in August. Deliveries to VD customers are expected within 60 days. Hangun Technology stated that its core long-term orders operate on a monthly delivery, collection, and revenue recognition model. Once all four five-year orders are operational, annual rental income is projected at approximately RMB 3.267 billion for the first three years, followed by about RMB 3.12 billion annually for the next two years.