Oridian plans to increase its investment by RMB 868 million to increase its sapphire and computing power business

On September 14, Oride Optoelectronics Co., Ltd. disclosed its plan to issue A shares to specific targets in 2026. The company plans to raise a total of no more than 868 million yuan, which will be invested in two major projects: the Inner Mongolia sapphire production base and the western domestic server cluster and to supplement working capital.

The number of shares issued this time will not exceed 30% of the total pre-issuance share capital, which is approximately 825 million shares. The issuance price will not be lower than 80% of the average price of the 20 trading days before the pricing base date. The number of issuance targets will not exceed 35, and the subscription shares will be restricted for 6 months. The plan has been reviewed and approved by the board of directors and still needs to be reviewed by the shareholders' meeting, the Shanghai Stock Exchange and registered with the China Securities Regulatory Commission.

In terms of fund-raising allocation, 282 million yuan is planned to be invested in the construction project of the Inner Mongolia sapphire production base, with a construction period of 2 years. It will be implemented at a rental site in Hohhot by the controlling subsidiary company Oride. It plans to use a new generation of high-efficiency crystal growth furnace and an improved hot field process to reduce the consumption of tungsten and molybdenum consumables, focusing on strengthening the production capacity of 6/8/12-inch large-size ingots.

The western domestic server cluster construction project plans to invest 346 million yuan, with a construction period of only 3 months. The wholly-owned subsidiary Beijing Intelligent Computing Power will deploy domestic servers in a rental computer room in Ulanqab, mainly providing large-scale domestic computing resources and services; another 240 million yuan will be used to supplement working capital.

It is worth noting that on the night of the announcement, Orred simultaneously disclosed the "sell the old and build the new" action: its wholly-owned subsidiary Shenzhen Zhihauting planned to sell 22 servers to Hainan Jingshu for 51.5 million yuan, a premium of approximately 20.66 million yuan over the net book value, and it is expected to recognize an asset disposal income of approximately 20.59 million yuan and include it in the current profit and loss.

Orade is one of the earliest companies in China engaged in the research, development and manufacturing of sapphire crystal materials. The company has established an independent operation model for the entire chain of R&D, procurement, production, and sales, and masters a full set of processes including bubble growth, crystal quality control, temperature field control, and crystal formation rate optimization. As of the end of August 2026, it has 79 sapphire-related patents.

It is worth noting that at present, Orred is in the company's transformation period, and comprehensive computing power services have become the main source of revenue. In the first half of 2026, Orred achieved revenue of 303 million yuan, a year-on-year increase of 38.29%, of which computing power comprehensive service revenue was 213 million yuan, accounting for 70.13% of revenue, while sapphire business revenue was 90.606 million yuan, contributing a gross profit of 3.9764 million yuan, accounting for 29.90% of revenue.