Guangdong Aofei Data Technology Co., Ltd.: history, ownership, mission, how it works & makes money

Founded on September 28, 2004 with a registered capital of RMB 96.48 million, Guangdong Aofei Data Technology Co., Ltd. (listed on the Shenzhen Stock Exchange as 300738.SZ since January 18, 2018) has rapidly scaled into a major internet cloud computing and big-data service provider-reporting RMB 2.165 billion in revenue for 2024 (a 62.18% increase year-over-year) and delivering RMB 536 million in Q1 2025 revenue (up 40.6% YoY) while its Q1 2025 net profit attributable to shareholders hit RMB 52 million after a 2024 net profit of RMB 124 million; backed by total assets of RMB 76.16 billion and net assets of RMB 7.88 billion as of March 31, 2025, controlled by Guangzhou Haomeng Computer Technology Co., Ltd. (actual controller Feng Kang) and having completed the ~RMB 120 million acquisition of 70% of Atop Corporation, Aofei operates 14 self-built data centers with over 57,000 standard cabinets, posted IDC service revenue of RMB 895 million in H1 2025 (up 42.22% YoY), plans share issuance to fund a new-generation cloud computing and AI industrial park, and trades at RMB 18.14 per share for a market capitalization of RMB 17.74 billion as of December 19, 2025-setting the stage for a closer look at its history, ownership, mission, operations and revenue model.

Guangdong Aofei Data Technology Co., Ltd. (300738.SZ): Intro

Founded on September 28, 2004 with a registered capital of RMB 96.48 million, Guangdong Aofei Data Technology Co., Ltd. (300738.SZ) is a Chinese data services and IT solutions provider that went public on the Shenzhen Stock Exchange on January 18, 2018 (stock code: 300738). The company has expanded from core data processing and storage services into cloud computing, big data analytics, and industry-specific digital solutions.

History

• 2004: Company established with registered capital of RMB 96.48 million (Sept 28, 2004).
• 2018: Listed on Shenzhen Stock Exchange (Jan 18, 2018) under ticker 300738.SZ.
• 2024: Achieved revenue of RMB 2.165 billion, up 62.18% year-over-year; net profit attributable to shareholders RMB 124 million, down 12.2% year-over-year.
• Q1 2025: Revenue RMB 536 million, up 40.6% YoY; net profit attributable to shareholders RMB 52 million, up 2.5% YoY.

Ownership and Corporate Structure

Guangdong Aofei Data operates as a publicly traded company with a shareholder structure composed of institutional investors, management and founders, and public retail investors. The board oversees strategic directions including investments in data centers, cloud platforms, and software R&D. Key ownership trends include gradually increasing institutional holdings since listing and ongoing strategic partnerships to expand regional data center footprint.

Mission, Vision & Core Values

Company mission and strategic priorities emphasize secure, high-availability data infrastructure and industry-tailored digital transformation services. See the company's statement here: Mission Statement, Vision, & Core Values (2026) of Guangdong Aofei Data Technology Co., Ltd.

How It Works - Business Model & Operations

• Primary service lines: data center construction and operations, cloud hosting, managed IT services, big data analytics, and customized vertical software solutions.
• Delivery model: combination of owned data centers and partner co-location facilities; recurring revenue from hosting and managed services plus project-based revenue from system integration and software development.
• Technology stack: virtualization, container orchestration, distributed storage, and proprietary analytics platforms adapted for finance, manufacturing, and government verticals.

How It Makes Money - Revenue Streams

• Recurring services: hosting, cloud subscriptions, managed services (steady margins, long-term contracts).
• Project revenue: system integration, solution design, software development (lumpy, higher margin at delivery).
• Value-added services: data analytics, AI model deployment, maintenance and SLA upsells.
• Hardware and infrastructure sales: turnkey data center builds and equipment procurement services.

Key Financial and Operational Metrics (Selected)

Operational Highlights & Recent Trends

• Rapid top-line growth in 2024 driven by expanded cloud and managed services contracts and new industry vertical deployments.
• Profitability pressure in 2024 tied to higher operating costs and investment into capacity expansion; profitability modestly recovered in Q1 2025.
• Ongoing capital expenditure focused on data center expansion, edge compute sites, and platform R&D to capture higher-margin analytics and AI services.

Guangdong Aofei Data Technology Co., Ltd. (300738.SZ): History

• Listed on the Shenzhen Stock Exchange (stock code: 300738).
• Controlling shareholder: Guangzhou Haomeng Computer Technology Co., Ltd.; actual controller: Feng Kang.
• Registered capital: RMB 96.48 million (as of March 31, 2025).
• Major 2024 acquisition: 70% stake in Atop Corporation from Shenzhen SDG Information Co., Ltd. for ~RMB 120 million.

• Ownership structure centers on Guangzhou Haomeng Computer Technology Co., Ltd. as controlling shareholder; governance and strategic direction influenced by Feng Kang as actual controller.
• Growth strategy evidenced by M&A (Atop purchase) and asset expansion to scale cloud and data-center offerings.

Guangdong Aofei Data Technology Co., Ltd. (300738.SZ): Ownership Structure

• Mission and values:
  • Provide foundational internet cloud computing and big data services across China.
  • Enhance data center capability, availability and security to meet rapidly growing market demand.
  • Support customers from basic hosting to intelligent, AI-capable infrastructure through continuous investment in facilities and operations.
• Core service offerings:
  • Server hosting and cabinet rental (colocation).
  • Enterprise-level customization and system integration.
  • Infrastructure intelligent operation and maintenance (AIOps, monitoring, remote ops).
  • Internet data center (IDC) build-out and management.
  • Network access, data synchronization, network data analysis and intrusion detection.
  • Network security protection, intelligent DNS, data storage and backup services.

• Recurring colocation and hosting fees for cabinet/rack space, power and bandwidth form a stable base revenue stream.
• Value-added services-system integration, managed security, data backup, network analysis and intelligent DNS-carry higher margins and professional-service fees.
• Infrastructure operations contracts (O&M/AIOps) provide longer-term service agreements and reduce customer churn.
• Project-based revenue from building and integrating IDCs and AI-ready compute clusters spikes during expansion phases and capital projects.
• Strategic capital raises (share issuance) fund capacity expansion to capture higher-volume, higher-value AI and cloud workloads-expected to lift utilization and average revenue per customer.

Guangdong Aofei Data Technology Co., Ltd. (300738.SZ): Mission and Values

• Physical footprint: 14 self-built data centers across multiple Chinese cities.
• Capacity: Over 57,000 standard cabinets currently in operation.
• Expansion: Multiple large-scale data center projects under construction to increase cabinet and power capacity.

• Core infrastructure delivery: design, build and operate Tier-class data center facilities with redundant power, cooling, and fire suppression systems.
• Hosting and colocation: server hosting and cabinet rental for enterprise and hyperscale customers with SLAs for uptime and availability.
• Customization: enterprise-level customization (private cages, dedicated power, bespoke rack layouts, connectivity options).
• Managed ops: infrastructure intelligent operation and maintenance services combining monitoring, predictive maintenance, and automated incident response.
• IDC & integration: internet data center services plus system integration to onboard customer workloads and integrate cloud/hybrid environments.
• Professional security & network services: network access, data synchronization, network data analysis, intrusion detection, network security protection, intelligent DNS, data storage, and backup.

• Rack-and-space rental: recurring revenue from cabinet leases and colocation contracts (primary steady cash flow).
• Power and premium infrastructure: metered power billing, value-added cooling and high-density deployments.
• Managed services: fees for O&M, monitoring, backup, security services and system integration projects.
• Project development: revenue recognition from construction of new data center projects and associated deployment services.
• Professional services & network solutions: one-time and recurring fees for network design, security, DNS and data synchronization offerings.

• Assessment - capacity, connectivity, redundancy and security requirements.
• Design & quoting - custom rack/power layout, SLA, and integration scope.
• Deployment - provisioning of cabinets/servers, network setup, security controls.
• Managed operations - continuous monitoring, backups, intrusion detection and service-level management.
• Scale & optimization - add cabinets, increase power, migrate workloads or integrate cloud hybrids.

• Scale advantage through owned footprint (14 data centers, 57,000+ cabinets) enabling competitive pricing for large-volume customers.
• End-to-end stack from physical colocation to managed security and intelligent O&M that increases customer lock-in and recurring revenue.
• Ongoing expansion projects support growth in capacity and geographic coverage to capture regional demand for cloud-adjacent infrastructure.

Guangdong Aofei Data Technology Co., Ltd. (300738.SZ) - How It Works

History

Founded in Guangdong, Aofei Data grew from a systems-integration and network services firm into a national internet data center (IDC) operator and intelligent infrastructure service provider. Key milestones include expansion of IDC facilities across southern China, public listing under ticker 300738.SZ, and strategic shifts toward cloud-native operational services and enterprise customization.

Ownership & Governance

• Publicly listed company: Shenzhen Stock Exchange (300738.SZ).
• Major shareholders typically include institutional investors, founding management, and strategic partners (details in investor filings and the linked investor profile).
• Board and executive management focus on scaling IDC capacity, system integration, and managed services.

Mission

• Deliver resilient, secure, and scalable data infrastructure for enterprises and service providers.
• Provide intelligent O&M and value-added network/security services to accelerate customers' digital transformation.

Core Business Model - How It Makes Money

Revenue is generated from multiple, complementary streams that monetize physical infrastructure, managed services, and value-added network/security solutions.

• Server hosting and cabinet rental - recurring, capacity-based contracts for colocation customers.
• IDC services - wholesale and retail data center hosting, power and rack provisioning, with H1 2025 IDC service revenue of RMB 895 million (up 42.22% YoY).
• System integration and enterprise-level customization services - one-time and project-based engineering, deployment, and integration fees.
• Infrastructure intelligent operation & maintenance (O&M) - managed operations, remote hands, monitoring and predictive maintenance contracts.
• Internet data center and system integration services - end-to-end design, deployment and managed hosting for telecom, cloud and enterprise customers.
• Professional network and security services - network access, data synchronization, analysis, intrusion detection, network security protection, intelligent DNS, data storage and backup.

Product & Service Breakdown (representative)

Recent Financial Performance (selected figures)

Operational Mechanics - Key Capabilities

• Integrated facility operations: power management, HVAC, fire suppression, physical security and capacity planning.
• Network ecosystem: multi-carrier interconnects, intelligent DNS, routing, and DDoS mitigation.
• Software-driven O&M: telemetry, automation, predictive analytics to reduce downtime and optimize utilization.
• Security & compliance: intrusion detection, backup and recovery, data synchronization across sites for resiliency.

For investor-focused details and shareholder composition, see: Exploring Guangdong Aofei Data Technology Co., Ltd. Investor Profile: Who's Buying and Why?

Guangdong Aofei Data Technology Co., Ltd. (300738.SZ): How It Makes Money

• Core revenue streams: data center colocation & rack leasing, cloud infrastructure services, bandwidth/peering, managed services and on-demand AI compute offerings.
• Demand drivers: enterprise digitalization, cloud migration, and an AI compute boom prompting higher rack density and power consumption.
• Operational focus: ensure timely delivery of new facilities and maximize rack utilization to convert capacity into recurring revenue.

• 2025 is a pivotal delivery year: multiple data centers are slated for handover, turning reserved capacity into revenue-generating assets.
• Strategic priority: 'ensure delivery and promote rack utilization' - converting physical delivery into higher occupancy and per-rack ARPU (average revenue per unit).
• AI tailwind: the company is positioning new projects to host dense GPU clusters and high-power racks, capturing premium pricing and higher utilization compared with traditional colocation.