"GDS" reported a profit of 690 million RMB in the first half of the year, turning from loss to profit

GDS-SW (09698.HK) announced its interim results for the six months ending in June, with total net revenue recorded at RMB 5.623 billion, an increase of 12.2% year-on-year. Net profit attributable to shareholders was RMB 691 million, compared to a loss of RMB 572 million in the same period last year, turning from loss to profit; earnings per share were 44 cents.

In the second quarter alone, net revenue was RMB 2.9 billion, an increase of 12.4%, mainly due to the continued growth of data centers. Gross profit increased by 21.8% to RMB 689 million. The loss narrowed from RMB 226 million in the same period last year to RMB 72.3 million.

For 2025, the total capital expenditure guidance has been revised down from RMB 4.3 billion to RMB 2.7 billion. This includes main capital expenditures of RMB 4.8 billion, minus the net cash of RMB 500 million received from asset-backed securities transactions to date, and minus the net cash proceeds of RMB 1.6 billion from reinvestment after C-REIT transactions