GDS-SW Opens Down 8%; 1Q Adj. EBITDA Up 47.2%; RMB30-50B Capex Planned Over Next 3 Yrs
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GDS-SW opened down 8.1% at HK$36.36, with a 1Q net revenue increase of 23.6% YoY to RMB3.367 billion and adjusted EBITDA up 47.2% to RMB1.949 billion. The adjusted EBITDA margin rose to 57.9%. GDS plans to invest RMB30-50 billion over the next three years to expand contracted capacity by 500-800MW annually, following a record of 200MW in new orders for 1Q.
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