Summary

  • Aofei Data said eight Gu'an data-centre buildings were built, delivered and operating as of 30 June 2026.
  • The statement was made on 10 August in an investor-platform answer and describes a quarter-end state, not a commissioning that day.
  • A May record put the end-2025 baseline at seven delivered buildings and planned two to three deliveries during 2026.
  • The comparison supports at least one additional delivery by 30 June, without identifying the building or handover date.
  • Aofei separately says its Huailai project remains under orderly construction and should not be treated as operational.
  • No cabinet, MW, occupied-load, customer, utilisation, cooling or revenue bridge accompanies the eight-building figure.

Four counters describe four different things

A building count records completed physical shells or lifecycle units. Cabinet count describes fitted hosting positions; energised MW describes usable electrical capacity; occupied load describes what customers actually consume. Revenue adds contract and accounting conditions on top.

Aofei updated the first counter. Converting it into any of the other three would invent a relationship the disclosure does not provide.

The new information is dated 30 June

The company answered an investor question on 10 August, but the state it reported was “as of 30 June 2026”. This is a retrospective quarter-end snapshot rather than evidence that the eighth building entered operation on the publication date.

The exact handover day, building designation and acceptance sequence remain unknown.

The year-end comparison shows limited progress

A May investor-relations record said seven Gu'an buildings had been delivered at the end of 2025, with two to three planned for delivery in 2026. Eight at midyear supports at least one additional completed delivery against that baseline.

It does not prove that the full annual plan is complete. Nor does it show whether the newly counted building was fitted and loaded at the same pace as earlier ones.

Lifecycle wording should not be stretched

“Built, delivered and put into operation” is stronger than construction in progress. It indicates the building crossed several project milestones by the reporting date.

The phrase still does not say that all white space is equipped, every cabinet accepted, every electrical path energised or design load reached. Operating status and full utilisation are separate observations.

Huailai remains on another side of the line

Aofei separately described its Hebei Huailai data-centre project as under orderly construction. That wording supplies a progress state, not an operating claim.

Combining Gu'an's eight operating buildings with Huailai's construction would blur two projects and two lifecycle stages. They should be monitored on separate schedules.

The investor's premise is not company guidance

The question presented to Aofei included market forecasts and a utilisation assertion. The company's narrow response did not validate those premises. Repeating them as management forecasts would enlarge the answer beyond what Aofei actually said.

The reliable fact is the Gu'an building count. Market demand and utilisation need independent evidence or an explicit company statement.

A capacity reconciliation is the next disclosure

A useful bridge would map each building to installed cabinets, accepted power, saleable MW, contracted MW, occupied load and recognised revenue. Cooling configuration and customer acceptance would add operational context.

Without that bridge, the eight-building figure documents physical progression but cannot show the scale or economics of active service.

Sources