Jiechuang Intelligent signs computing power service contract worth 4.915 billion yuan

The size of the headline figure is the story, but the structure is what deserves scrutiny: delivery is split into separately ordered batches and billing settles monthly, so the 4.915 billion yuan is a provisional estimate rather than committed revenue. That distinction matters for anyone tracking how computing power contracts are being valued in this market, since the counterparty is identified only as H1 Company. The open question is whether disclosed batch orders accumulate toward the stated total over the 60-month term, or whether the estimate outpaces what is actually contracted.