ChinaCache International Holdings Ltd. announced that ChinaCache Xin Run Technology (Beijing) Co., Limited has entered into definitive agreements to form a joint venture with Henan Zhongfu Industrial Corporation. The JV will be incorporated under the name of Henan Zhongfu ChinaCache Technology Co., Ltd. and will be 85% owned by Zhongfu and 15% owned by Xin Run. Zhongfu is an international enterprise with fine processing and manufacturing of aluminum as its core business and has a complete industry chain of coal, power and aluminum.

Zhongfu is listed on the Shanghai Stock Exchange with total assets of approximately RMB 26.0 billion as of September 30, 2015. The JV will be formed to take advantage of the low-cost land and electric resources in Gongyi city, Henan Province in China, to develop Internet data centers to tap into the growing demand for IDC services in the region. Zhongfu agrees to contribute land, electricity and the majority of capital to the joint venture, and Xin Run agrees to primarily provide expertise in the areas of data center technology, market development, project management and data center operating and maintenance services.