Cloud Data, Hong Kong-Based Provider of IDC Services, Connectivity, and Cloud Facilitation, Files for Nasdaq Capital Market IPO

Cloud Data Holdings Corporation, a Cayman Islands holding company operating through its Hong Kong subsidiary, filed for an initial public offering on the Nasdaq Capital Market under the ticker “CDN.” The company plans to offer 3,750,000 ordinary shares at an expected price range of $4.00 to $4.50 per share. Gross proceeds are expected to be approximately $15.0 million before expenses and any over-allotment. Business Description Cloud Data is an integrated internet infrastructure service provider that operates under an asset‑light model. Through its Hong Kong subsidiary, the company sources servers, IP addresses, bandwidth, and cloud resources from upstream suppliers and bundles them into customized solutions for enterprise clients. Its offerings span four segments: (1) IDC services (server hosting, IP address allocation, and bandwidth), (2) IDC connectivity services (downstream customer acquisition and lifecycle facilitation for IDC operators), (3) cloud facilitation and support services (unified billing access, 24/7 support, and optimization, recognized on a net basis), and (4) other technical support services.The company focuses on simplifying complex multi‑vendor infrastructure needs for customers pursuing digital transformation and cross‑border operations. It does not own data centers or servers and leverages supplier ecosystems to remain flexible and capital‑efficient. Over time, Cloud Data plans limited deployment of self‑owned racks and selective infrastructure to enhance service stability and control. The business serves clients primarily in Hong Kong and Canada, with resource deployments spanning the U.S., Japan, Taiwan, Turkey, and parts of Europe. Market Overview Total addressable market: Hong Kong IDC market of ~$3.6B in 2024, projected to reach ~$6.9B by 2029; global cloud services projected to ~$2.26T by 2029.Market growth: Hong Kong IDC capacity CAGR ~13.4% (2024–2029); Hong Kong IDC revenue CAGR ~14.0% (2024–2029); global cloud CAGR strong from 2020–2024 (~24%).Market position: Asset-light integrator coordinating IDC resources, connectivity, and cloud access for enterprise customers in Hong Kong and abroad.Key competitors: Telecommunications operators, third‑party IDC service providers, and cloud resellers/managed service providers.Industry trends: Shift toward hyperscale and enterprise data centers, hybrid/multi-cloud adoption, increasing AI/HPC demand, and emphasis on security, compliance, and sustainability. Operational Metrics Customers: Concentrated base; one customer (BSD) accounted for ~69% of FY2025 revenue (72% in FY2024).Locations: Headquarters in Hong Kong; Cayman holding company; no operations in Mainland China.Geographic presence: Serves Hong Kong and Canada customers; deploys resources in the U.S., Japan, Taiwan, Turkey, and Europe; planning entry into Japan operations.Partnerships: Works with multiple upstream IDC and network providers; historically sourced services from related parties (now reduced).Other key metrics: 11 full‑time employees as of September 30, 2025; asset‑light model with no owned data centers or servers. Financials Highlights Revenue (current): $3.00 million (FY2025)Revenue growth: 31.2% year over year (FY2025 vs. FY2024)Gross profit: $1.72 million (57.2% margin)Operating income: $1.27 million (FY2025)Net income: $1.10 million (FY2025) Management Chang Liao, Chief Executive Officer and Chairman - Over 20 years in telecom and technology; founded Cloud Data HK in 2013; prior leadership roles in data center and enterprise services.Wenhong He, Chief Financial Officer - 25+ years in finance, accounting, and tax; prior finance leadership roles at technology and trading companies.Ming Zhao, Chief Technology Officer (Cloud Data HK) - 20+ years in cloud infrastructure and enterprise architecture; former solution architect at Microsoft, roles at Huawei and VMware.Xiao Xiao, Director - Background in accounting and enterprise management consulting; director since 2024.Shihua Li, Independent Director - Director experience at listed telecom/network companies; master’s in applied finance.Yao Feng, Independent Director - ~25 years in corporate finance; held senior finance roles in large enterprises.Hu Liu, Independent Director - CFO with experience in large-scale project finance and governance; holds CPA in China. IPO Structure Issuer: Cloud Data Holdings CorporationFiling date: January 21, 2026Proposed ticker: CDNExchange: Nasdaq Capital MarketPrice range: $4.00–$4.50 per shareOffering size: Approximately $15.0 million (excluding over-allotment)Shares offered: 3,750,000 Ordinary Shares (plus 15% over-allotment option)Lead underwriters: Cathay Securities, Inc.Use of proceeds: ~33% Hong Kong data center infrastructure, ~25% Japan market entry, ~42% proprietary network monitoring/optimization systems; remainder for general corporate purposesOriginal SEC Filing: Cloud Data Holdings Corp - F-1 - Jan. 21, 2026DisclaimerThis is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.