ITC Neocloud Establishes AI Infrastructure as New Reportable Segment

ITC Neocloud Group Limited (00199.HK), which officially changed its name from Tack Hsin Properties Group in September 2026, has formalized its growing artificial intelligence business into a distinct reportable segment. According to a company announcement, the move reflects the division's successful transition from development to commercial operation.

Strategic Shift to Commercial Operations

The company stated that its artificial intelligence (AI) infrastructure and computing services division has begun commercial delivery and is now generating revenue. This milestone follows the initial launch of its AI computing power technology services in June 2026.

According to management and the board of directors, the AI business now meets the criteria to be classified as an independent segment under Hong Kong Financial Reporting Standard 8 (HKFRS 8), *Operating Segments*. This is based on the unit having separately identifiable income, costs, and operating results that are reviewed independently by management for resource allocation and performance evaluation.

Segment Breakdown

The new AI infrastructure and computing services segment comprises three main business categories:

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• AI Infrastructure Operation: Focuses on the development, deployment, and operation of AI data centers (AIDC), along with providing high-bandwidth network resources and large-scale data storage.
• AI Computing Orchestration and Cloud Services: Involves the integration, scheduling, and cloud-based delivery of computing resources and related customer services.
• Model Services and Application Platform: Provides services and platform capabilities for AI model training, inference, and various application scenarios.

Financial Reporting and Outlook

By designating the AI business as a separate reportable segment, ITC Neocloud aims to provide greater transparency for shareholders and potential investors. The board believes this will clarify the business's operating performance and its contribution to the group's overall results.

The company will begin disclosing the financial performance of the AI segment separately in its interim results and report for the six months ending September 30, 2026. ITC Neocloud confirmed it will continue to maintain its primary business in property development alongside the expansion of its new AI division.