TIME Interconnect Technology Limited has set up Time X-Ware Technology Limited, a wholly-owned subsidiary, to enter the server market with JDM/ODM business model. The products offered by the Group under the New Business are mainly applied in data centers, which includes rack-mounted computing servers, edge servers, AI smart servers, storage servers, smart network cards, GPU cards, complete cabinet products, etc. It is expected the New Business will represent an opportunity for the Group to expand its existing converged wire and cable products to a larger customer portfolio.

The Board believes the development of the New Business is a good opportunity for the Group to further develop its business and will help diversify the Group’s business as well as the Group’s income steam.