It’s June 13th, 2016.Zhejiang Ebang Communication Co., Ltd and Baoshan Municipal Government of Yunnan Province reached a cooperation agreement on cloud computing service at Kunming International Exhibition Center of Yunnan, and plan to invest 10 million RMB to set up a wholly-owned subsidiary in Baoshan.
Baoshan Municipal Government is national cloud computing and big data industrial construction experimental city, also is the “Internet+” action strategic focus city of Yunnan. Our newly subsidiary is main established in cloud computing data center construction and its service market development, to solve the complex data supercomputing settlement and data analysis, assistance of company’s main business development.
This external investment is an prudent decision making after viewing overall long-term benefit of the company. By setting up a subsidiary to expand the company's development channel, create a multi-point support to new pattern of growth, develop new markets and improve company's comprehensive strength and core competence.