COOLPAD GROUP (02369.HK)  0.000 (0.000%)   announced that since 2023, the Group has initiated brand adjustment and channel structure rebuilding. To differentiate from different business models and sales channels, independent sub-brands were split up by the Group with “Coolpad” as the parent brand, namely “Daguan”, “Fengshang” and “Cool”, which are aimed at the operator market, the public channel, and the e-commerce market, respectively.

The Group has launched 5 new phone models on the 3 major brands, namely “Fengshang 40”, “Cool 30”, “Cool 30+”, “Coolpad Daguan 40s” and “Coolpad Daguan 50s”.

With the conducting of product sales, the Group has entered into in-depth cooperation with major operators in the third quarter and plans to rapidly open up the market through new products in the fourth quarter. At present, it has successfully accessed Southeast Asia, South Asia, the Middle East, Latin America and other regions, including the Philippines, the United Arab Emirates, Kuwait, Yemen, Dubai, Myanmar and dozens of other national markets.

Since 1 January 2023, rental income from investment property (IP) operating leases has become a stable operating cash flow from ordinary business, hence the IP operating leasing business forms part of the Group’s principal activities. As of now, the IPs held by the Group are mainly the Coolpad Building in Shenzhen and the Phase I factory plants and dormitories in Dongguan Songshan Lake.

As of now, the Group’s projects under construction are mainly the Dongguan Plant Phase III Project and the Shenzhen Coolpad Information Harbor Phases II and III Projects. With the gradual completion of the IPs under construction, the Group’s leasable area will increase from approximately 140,000 square metres to a total of approximately 400,000 square metres in the future.

For the Web3.0 digital currency business, as of 25 October 2023, the Group has an effective computing power of 110,000 TH/S, accumulating around 11.0 BTC and expects to increase its computing power by 66,000 TH/S in November, intending to further continue to expand its investment in digital currencies, especially Bitcoin.


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