--- title: "Inside Hong Kong’s Mid-Cap Divergence: GDS Eyes AI While Helen's Shrinks" type: "News" locale: "en" url: "https://longbridge.com/en/news/292619203.md" description: "Hong Kong’s mid-cap sector is experiencing a significant structural overhaul. I’m told that while GDS pushes a multi-billion AI expansion and Kelun-Biotech advances its clinical trials, consumer brands like Helen's are navigating shrinking revenues and trademark losses." datetime: "2026-07-14T11:47:43.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/292619203.md) - [en](https://longbridge.com/en/news/292619203.md) - [zh-HK](https://longbridge.com/zh-HK/news/292619203.md) generator: "portal-rs" --- # Inside Hong Kong’s Mid-Cap Divergence: GDS Eyes AI While Helen's Shrinks We are seeing some of the most significant structural overhauls across Hong Kong’s mid-cap space this year. According to people familiar with the matter, while infrastructure and biotech names are plotting aggressive expansions, several traditional consumer players are stuck in defensive mode. ### GDS (9698.HK) The data center operator is making a massive push into computing power. I’m told that GDS plans to invest between **RMB 30B** and **RMB 50B** over the next three to five years to bolster its AI infrastructure. While the company maintained its full-year 2026 revenue guidance of up to **RMB 12.9B**, insiders note that managing slower-than-expected client move-in rates remains a key priority for executives this week. ### Kelun-Biotech (6990.HK) Kelun-Biotech recently completed a new H-share placement, raising approximately **RMB 2.72B**. I'm told that capital will be funneled directly into R&D and clinical trials for its core ADC pipeline. The company’s commercial momentum is building, with first-half 2025 sales reaching **RMB 310M**. Its latest data presentation at the 2026 ASCO annual meeting is being viewed as one of the standout developments in the sector right now. ### Helen's (9869.HK) In stark contrast to the tech expansion, the pub chain is undergoing what could be its most difficult restructuring yet. Revenue has plummeted over **70%** from its 2021 peak, and store counts have dropped significantly. I'm told the situation is complicated by recent executive reshuffling—with the founder stepping down as CEO—and a major blow in June 2026 when courts invalidated its core Chinese trademarks. The stock's recent underperformance reflects these mounting operational hurdles. ### 361 Degrees (1361.HK) The sportswear brand is quietly gaining ground. Total revenue hit **RMB 11.1B** in 2025, driven by robust e-commerce growth. After completing a placement earlier in 2026, I hear the company is now channeling resources into expanding its overseas network and exploring AI robotics materials. ### Nanshan Aluminum International (2610.HK) The industrial player is doubling down on its Southeast Asian footprint. I'm told the company is investing roughly **USD 437M** into a new electrolytic aluminum project in Indonesia. Once completed, total capacity is expected to reach **500,000** tons. This expansion is timed perfectly to capture the growing demand for green transition materials in 2026. ### Also in the mix - **SIS INT'L (0529.HK)**: The company's Thai subsidiary posted a **32.16%** year-over-year jump in first-quarter attributable profit, alongside signing a new master supply agreement in July 2026. - **Capital Finance Holdings (8239.HK)** and **Global Sweeteners (3889.HK)**: Both companies have been relatively quiet. I'm told executives are maintaining a low profile with no major operational shifts expected this week. - **New Concepts Holdings (2221.HK)**: The company continues to operate without any significant near-term catalysts. *This article does not constitute investment advice.* ### Related Stocks - [01361.HK](https://longbridge.com/en/quote/01361.HK.md) - [08239.HK](https://longbridge.com/en/quote/08239.HK.md) - [09698.HK](https://longbridge.com/en/quote/09698.HK.md) - [06990.HK](https://longbridge.com/en/quote/06990.HK.md) - [03889.HK](https://longbridge.com/en/quote/03889.HK.md) - [02221.HK](https://longbridge.com/en/quote/02221.HK.md) - [09869.HK](https://longbridge.com/en/quote/09869.HK.md) - [02610.HK](https://longbridge.com/en/quote/02610.HK.md) ## Related News & Research - [New Concepts Holdings Secures Premium-Priced Share Subscription](https://longbridge.com/en/news/298626261.md) - [New Concepts Holdings prices HK$ 5 million share placement at HK$ 1 each](https://longbridge.com/en/news/298611323.md) - [BlueCrest Capital Management Ltd Makes New $7.51 Million Investment in GDS Holdings $GDS](https://longbridge.com/en/news/298561289.md) - [Is GDS Holdings (NasdaqGM:GDS) Undervalued Or Is Its Recent Weakness Already Priced In?](https://longbridge.com/en/news/298119619.md) - [GDS Holdings Files Hong Kong 2026 Interim Report with U.S. SEC](https://longbridge.com/en/news/298034429.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**