HU-GDS @EC2612A

DayOne Data Center Establishes Training and Service Centers in Malaysia and Makes Massive Investments

GDS completes $300 million convertible preferred stock placement

GDS Completes $300 Million Series B Convertible Preferred Stock Offering to Huatai Capital Management

JPMorgan Upgrades GDS Rating and Price Target

GDS Privately Placed $300 Million USD Series B Convertible Preferred Shares

GDS Completes $300 Million Private Placement of Convertible Preferred Shares

Morgan Stanley Sees Potential in Remote Data Center Operators

GDS repurchases shares of DayOne

GDS Recoups Investment in DayOne

DayOne Completes $2 Billion C-Round Financing and Pushes Expansion in Europe and Asia-Pacific

DayOne Data Center Successfully Raises Over $2 Billion in Series C Financing

HSBC Raises CDG Target Price to $46.9

CITIC Securities Maintains Buy Rating for GDS with Target Price at $50

GDS Reports Q3 Revenue Growth, Injects Assets into REITs

JPMorgan Analyzes GDS's Earnings and Lowers Target Price

DBS analyst maintains buy rating on GDS Holdings

CFO of GDS Expresses Confidence in AI Infrastructure Industry

GDS Announces 11.4% YoY Growth in Adjusted EBITDA for Q3 2024

GDS Restates 2025 Revenue Outlook at 11.29-11.59 Billion Yuan

GDS reports Q3 2025 revenue of 2.887 billion yuan

CCOE

STARCOIN GROUP

ONEFORCE HLDGS

ROYAL DELUXE

STELUX HOLDINGS

TE HEALTHCARE

ASIAPAC FIN INV

WELIFE TECH

DRINDA

TIMELESS

600875

300750

600183

09698

601688

UBS released a report listing the most favored simulated portfolio stocks by Chinese capital, all of which received a "Buy" rating. Newly included stocks are Sytech, DEC.LTD, and Envicool, while excluded stocks are Horizon Robotics, Sungrow Power, and NetEase. In terms of target prices, CATL is set at 500 RMB, FUYAO GLASS at HKD 96, HTSC at 31.2 RMB, ZIJIN MINING at HKD 47.4, NAURA at 570 RMB, Tencent at HKD 780, YTCO at 40 RMB, Alibaba at USD 190, and GDS-SW at USD 57

AASTOCKS

DEC.LTD

CATL

Sytech

FYG;FUYAO GLASS

GDS-SW

YTCO

Alibaba

FUYAO GLASS

ZIJIN MINING

NAURA

HTSC

Envicool

Guotai MSCI China A ESG General ETF

KraneShares 2x Long BABA Daily ETF

BABA 2x Long Daily ETF - GraniteShares

iShares MSCI China

Krne Csi China Internet

Invesco Golden Dragon China

Direxion FTSE China Bull 3X

Yinhua MSCI China A ETF

UBS lists the most favored simulated portfolio stocks of Chinese-funded institutions (Table)

IDGT

DTCR

The research report from China International Capital Corporation indicates that ByteDance's Seedance 2.0 has made significant progress in video generation models and has entered the global first tier. The firm expects Seedance 2.0 to drive demand for video model inference, with particular attention to ByteDance and Volcano Engine's IDC industry chain. It is recommended to focus on AI infrastructure and IDC-related companies, such as GDS and Century Internet, and assigns a "outperform industry" rating to GDS and Century Internet, with target prices of $60 and $15, respectively

iShares US Digital Infrastructure and Real Estate ETF

Global X Data Center & Dgtl Infrs ETF

In "Major Banks," China International Capital Corporation (CICC): Seedance 2.0 will drive demand for video model inference, urging attention to AI infrastructure and IDC companies

09868

XPEV

.HXC

03896

The NASDAQ Golden Dragon China Index preliminarily closed up 1.3%. Among popular Chinese concept stocks, GDS preliminarily closed up 6.7%, Century Internet rose 6.6%, XPeng rose 6.6%, and KINGSOFT CLOUD rose 4.8%

Wallstreetcn

Kingsoft Cloud

XPENG-W

XPeng

NASDAQ Golden Dragon China Index

KINGSOFT CLOUD

Roundhill China Dragons ETF

GDS Holdings Limited has announced the adjournment of its Extraordinary General Meeting and additional shareholders meetings, originally scheduled for February 24, 2026, to March 10, 2026. This decision allows shareholders more time to consider proposed amendments to the Company’s Articles of Association. The record date for voting remains unchanged, and proxy cards submitted previously will still be valid for the reconvened meetings. All other details from the previous disclosure remain the same.

fidelity

GDS Announces Adjournments of Extraordinary General Meeting and Additional Shareholders Meetings to be Reconvened on March 10, 2026

688303

01179

BIDU

The NASDAQ Golden Dragon China Index preliminarily closed down 0.4%. Among popular Chinese concept stocks, Jinko Solar fell 2.4%, Trip.com fell 2.2%, YUM China, Qifu Technology, and WeRide fell over 1%, Alibaba fell 0.9%, and Baidu fell 0.7%. Meanwhile, GDS, KINGSOFT CLOUD, and Daqo Energy rose at least 0.6%, and HWORLD rose 1.6%

Daqo Energy

HWORLD-S

Baidu

BABA-W

YUM China

BIDU-SW

Trip.com

Jinko Solar

The NASDAQ Golden Dragon China Index initially closed down 0.1%. Among popular Chinese concept stocks, Tencent Music initially closed down 3.2%, Daqo Energy fell 2.6%, Kingsoft Cloud and PONY-W both fell over 2%, GDS dropped 1.9%, while Huazhu rose 2.9% and Trip.com increased by 3%

PONY-W

Tencent Music

TRIP.COM-S

TME-SW

DayOne Data Centers, a Singapore-based hyperscale data center platform, has established a regional operations and training center in Johor and expanded its Global Shared Services Center in Kuala Lumpur. The Johor facility aims to train over 1,000 engineers in AI-ready infrastructure management and operational resilience. The Kuala Lumpur center will employ over 200 local professionals, supporting finance and corporate functions. DayOne has invested over MYR 14 billion in Malaysia, with plans for an additional MYR 67 billion, creating significant job opportunities and enhancing local talent in the data center industry.

动点科技英文源

Singapore’s DayOne establishes regional operations and training base in Johor, expands Kuala Lumpur shared services center

SRVR

CLOU

XDAT

DayOne Data Centers has appointed Greg Norman as a Board Advisor to support its global expansion strategy. Norman, known for his leadership in sports and business, will assist in strategic partnerships and stakeholder engagement. The company aims to build sustainable digital infrastructure across Asia-Pacific and Europe, responding to the growing demand for cloud and AI services. Chairman William Huang emphasized the importance of responsible growth and Norman's alignment with DayOne's vision for long-term value creation.

ISHRS S&P Glb It

Pacer Data & Infrastructure Real Estate ETF

Global X Cloud Computing ETF

Franklin Exponential Data ETF

Proshares Big Data Refiners ETF

DayOne Data Centers Appoints Greg Norman as Board Advisor as It Expands Its Global Digital Infrastructure Platform

513130

STECH

TCTZF

The Hong Kong stock market fluctuated in the morning session, with the Hang Seng Index rising 54 points to 26,830 points. Technology stocks Tencent and Kuaishou were under pressure, falling 3.1% and 4.4% respectively. The National Index dropped 19 points, and the Hang Seng Tech Index fell 72 points. The total turnover was HKD 195.285 billion. Some stocks, such as New Oriental and GDS, rose, while AI stock Yunzhisheng fell due to a placement. Overall market performance was volatile, with some chip stocks and mobile component stocks performing relatively well

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

Hang Seng TECH Index

Tencent Holdings Limited

Dacheng Hang Seng Technology ETF(QDII)

China Southern CSI All Share Real Estate ETF

TENCENT

ChinaAMC CSI All Share Real Estate ETF

Yinhua CSI Interior Real Estate Theme ETF

CAM HS TECH

Guotai CSI Computer Theme ETF

FI2 CSOP HSI

Tencent

Harvest Hang Seng SCHK Technology ETF

ChinaAMC Hang Seng ETF

ISHARESHSTECH

"Hong Kong Stocks" The Hang Seng Index fluctuated and rose 54 points in the half-day session, with Tencent and Kuaishou under pressure, while bank and real estate stocks rose

ASHS

Chinese concept stocks performed poorly overall, with the NASDAQ Golden Dragon China Index falling by 1.14%. KINGSOFT CLOUD had the largest decline, reaching 6.4%. Other popular Chinese concept stocks such as GDS-SW, Century Internet, and CSI Solar also experienced significant declines, all exceeding 4%. In terms of ETFs, FXI, ASHS, and KWEB all saw varying degrees of decline

Xtrk Hrvt Csi 500 Chn A S-Cp

CSI Solar

iShares China Large Cap

The China concept index fell over 1%, and KINGSOFT CLOUD dropped over 6%

00HSI

00100

02513

The Hang Seng TECH Index rose by 0.5%. AIGC concept stocks led the gains, with KINGSOFT CLOUD up about 10% and KNOWLEDGE ATLAS up about 8%. Technology stocks rose, with GDS up about 7% and Bilibili up about 6%

Hang Seng Index

MINIMAX-WP

KNOWLEDGE ATLAS

The Hang Seng Index closed up 1.35%, Minimax rose about 26%

GDS-SW (9698.HK) has recently seen three consecutive days of gains, and this morning it continued to rise rapidly, approaching the previous high resistance zone, with strong short-term offensive intent from AI concept funds. On the technical front, the MACD has formed a new golden cross, the candlestick pattern is bright, and trading volume continues to expand. Short-term moving averages such as the 5-day and 10-day are rising in sync, creating a bullish atmosphere in the short term. As one of the strongest main lines in the current market, the AI concept has extremely high capital enthusiasm, and GDS, relying on computing power, IDC, and data center themes, has become one of the main targets favored by investors. Industry news is positive, with hotspots like large models and the capitalization of data elements continuously fermenting, making such heavyweight stocks favored during sector rotations. On the market, there is a noticeable influx of short-term chasing funds, but there are historical trapped positions in the previous high area, causing the net inflow speed of the main force to slow down under the halo, with initial signs of differentiation emerging. If it can continue to break through with increased volume effectively, it is expected to open up a second space; otherwise, it may fall into a high-level tug-of-war. Active participation is recommended, focusing on low-buy opportunities during pullbacks and avoiding heavy chasing at high levels. Although the inflow of funds into the AI concept is strong, there is uncertainty regarding the main line switch and sector sustainability, so dynamic tracking of turnover rates and market sentiment is still necessary in operations. If the market continues to attack collectively with sustained net inflows from the main force, it is expected to launch an assault on new highs; conversely, caution is needed for high-level volatility risks

Technical Forecast

Morning Trend | GDS has risen three consecutive days approaching previous highs, is the AI concept gaining short-term momentum?

Today, $Vnet(VNET.US) and $GDS(GDS.US) experienced significant adjustments. The main reasons investors are focusing on include: 1) Profit-taking effects; 2) Rumors of tighter AI chip restrictions gaining traction; 3) DeepSeek's public disclosure of inference efficiency and costs, where higher cluster utilization leads to lower unit costs.Typical data center businesses and companies are not involved in computing power leasing. Their order demand and performance are more related to how much capital expenditure internet companies and other clients invest in server purchases, and subsequently, how much server hosting services (i.e., data center leasing demand) are generated. The judgment on whether the IDC market trend can continue essentially depends on whether domestic cloud providers' capital expenditure increases are sustained and whether they allocate orders to third parties rather than building their own facilities.Regarding value-for-money improvement positions: Based on industry average valuations, GDS at 15x 2025e EV/EBITDA corresponds to a stock price of $31; VNET at 12x 2025e EV/EBITDA corresponds to a stock price of $9.3, both significantly below the industry average.Regarding support levels: Based on expected REITs valuations, GDS at 13x 2025e EV/EBITDA corresponds to a stock price of $23; VNET at 10x 2025e EV/EBITDA corresponds to $6.7.Key follow-up items to monitor: 1) GDS earnings call—new domestic and overseas orders, Capex guidance, Day One listing plan, REITs progress; 2) VNET earnings call—new orders for domestic base-type business, utilization expectations for urban-type business, Capex guidance, REITs progress; 3) Tencent's earnings capital expenditure guidance and actual progress in internet companies' capital expenditures; 4) Overall investment sentiment in tech stocks.(Repost)

Vnet

Forwarded from: Xingzhi US Stocks What is our research colleague's view on this topic? Ronald Keung pointed out that as the entry threshold lowers (especially with the recent development costs of some new models being only a small fraction of existing models), the AI theme may present a potential competitive landscape between capital-rich internet giants and startups. Eric Sheridan and the team emphasized...

HU-GDS @EC2612A(25619.HK)

UBS lists the most favored simulated portfolio stocks of Chinese-funded institutions (Table)

In "Major Banks," China International Capital Corporation (CICC): Seedance 2.0 will drive demand for video model inference, urging attention to AI infrastructure and IDC companies

The NASDAQ Golden Dragon China Index preliminarily closed up 1.3%. Among popular Chinese concept stocks, GDS preliminarily closed up 6.7%, Century Internet rose 6.6%, XPeng rose 6.6%, and KINGSOFT CLOUD rose 4.8%

GDS Announces Adjournments of Extraordinary General Meeting and Additional Shareholders Meetings to be Reconvened on March 10, 2026