Shares of Contemporary Amperex Technology Co., Limited (CATL) (03750) climbed more than 4% during intraday trading before paring gains to trade 3.18% higher at HK$649, with turnover reaching HK$578 million as of the latest update.

According to a recent announcement on the official WeChat account of VNET Group, the company has formally signed a strategic cooperation agreement with CATL. Earlier, CATL-related parties had made a strategic equity investment in VNET, laying a solid capital foundation for their collaboration.

The signing of this strategic cooperation agreement marks a significant milestone in the partnership between the two companies, signaling a transition from capital ties to a comprehensive strategic partnership centered on innovation in computing-power and electricity collaboration. Both parties are establishing an all-encompassing strategic alliance to seize the historic opportunity presented by the coordinated development of computing power and electricity.

With deep integration of computing and power as the core focus, the partnership aims to jointly define industry technical standards and innovative business models. Using green direct current and direct green power connectivity as the foundational pillars, they plan to construct a three-tier computing-power system comprising "gigawatt-level computing-power plants, distributed computing-power networks, and a zero-carbon token ecosystem," ultimately building a collaborative network that spans the nation and extends globally.