Tianyang Keji declines to give details of deal to buy 20,000 Nvidia GPUs
In short
Tianyang Keji (天阳科技) said on October 9 through its official WeChat account that it had signed a GPU purchase agreement with Company X for 20,000 NVIDIA RTX PRO 5500 Blackwell GPUs. Its securities department declined to disclose the price, total amount or delivery schedule. CLS estimated the deal could exceed 2 billion yuan, against about 508 million yuan in cash the company reported at the end of June.
Read the full story 1 min read
Tianyang Keji (天阳科技) said on October 9 through its official WeChat account that it had signed a GPU purchase agreement with Company X to buy 20,000 NVIDIA RTX PRO 5500 Blackwell GPUs. Asked by CLS about the purchase price, total amount and delivery schedule, staff at the company's securities department said the details were not convenient to disclose, and that more would be disclosed later if the deal reaches the relevant disclosure thresholds. [ 1 , 3 , 4 ]
CLS reporters were told by industry sources that the product is not yet on sale and its price has not been finalised. Judging from public information and current prices of similar products, CLS reported that the domestic price of the GPU could exceed 100,000 yuan per card, which would put a purchase of 20,000 cards above 2 billion yuan. [ 1 , 3 , 4 ]
Tianyang Keji's 2026 half-year report showed cash on its books of about 508 million yuan at the end of June, CLS reported. The CLS report was carried by 36Kr and Jiemian, while Yicai ran a headline saying the company was buying 20,000 Nvidia GPUs. [ 1 , 2 , 3 , 4 ]
Why it matters
The reports set the possible size of the purchase against the cash on the company's books, which raises questions about how the deal will be paid for. The company said further disclosure would follow only if the deal meets disclosure thresholds.
Key facts
- Tianyang Keji said through its official WeChat account that it signed a GPU purchase agreement with Company X. [ 1 , 3 , 4 ]
- The agreement covers 20,000 NVIDIA RTX PRO 5500 Blackwell GPUs. [ 1 , 3 , 4 ]
- The company's securities department said details such as price, total amount and delivery schedule were not convenient to disclose. [ 1 , 3 , 4 ]
- The company said it would disclose more later if the deal reaches the relevant disclosure thresholds. [ 1 , 3 , 4 ]
- According to industry sources cited in the reports, the product is not yet on sale and its price has not been finalised. [ 1 , 3 , 4 ]
- CLS estimated the domestic price could exceed 100,000 yuan per card, putting 20,000 cards above 2 billion yuan. [ 1 , 3 , 4 ]
- Tianyang Keji's 2026 half-year report showed about 508 million yuan in cash at the end of June. [ 1 , 3 , 4 ]
Confirmed by several sources
Still unclear
- The price per card and the total value of the purchase. The company declined to disclose them, and industry sources said the price has not been finalised; the figure above 2 billion yuan is an estimate.
- The identity of the seller, referred to only as Company X. The documents do not name the counterparty.
- How the company will fund the purchase and when the cards will be delivered. The documents do not say; the company did not disclose a delivery schedule.
- The company declined to disclose the price, total amount and delivery schedule of the purchase. Reported by a single source so far
- The company reported cash of about 508 million yuan at the end of June 2026. Reported by a single source so far