Guangdong Rongtai Industry's (SHA:600589) unit, Zhangbei Rongtai Yungu Data, signed a 10-year contract with an undisclosed internet customer, according to a Shanghai Stock Exchange disclosure on Wednesday.

Zhangbei Rongtai will provide a 60MW customized data center, including standard room environments, racks, power, cooling, and other essential infrastructure.

The total contract value is expected to exceed 1.63 billion yuan over the 10-year period, with the final amount determined by actual usage.

The contract will start on Aug. 30, 2025, and expire on Oct. 30, 2035, the Chinese chemical materials producer said.

The company's shares slumped more than 9% in recent trade.