🇨🇳Runjian subsidiary Wuxiang Yungu signed a $200 million annual-minimum AI inference-services contract with an unnamed overseas customer, starting October 19.

The announcement concerns a signed services contract. Runjian’s wholly owned subsidiary Wuxiang Yungu signed an “AI Token Cross-Border Sales Service Contract” with an overseas customer identified only as “Company X,” not as the social-media platform X. The stated term runs from October 19, 2026, through October 18, 2027.

Billing combines actual token consumption with a contractual minimum. The customer initiates large-model inference calls through an application programming interface (API), and charges are settled according to tokens consumed. Annual purchases must total at least $200 million, reported as approximately RMB1.338 billion, with the customer required to pay any shortfall.

The minimum purchase obligation is not reported revenue already earned. The supplied messages summarize Runjian’s announcement rather than provide the underlying exchange filing, and they do not disclose hardware, power capacity, deployment location, collateral, or payment-security arrangements. Runjian described the agreement as a milestone for its overseas token-services business while warning of multiple uncertainties affecting performance.