According to the AI Finance & Economics APP, GDS Holdings-SW (09698) rose more than 4%, up 4.09% as of the time of publication, at 18.32 Hong Kong dollars, with a turnover of 4.7705 million Hong Kong dollars.

CICC released research reports stating that GDS Holdings-SW had a 15% year-on-year growth in adjusted EBITDA in 3Q24, in line with market expectations. Benefiting from AI demand, the company's domestic datacenter added an area of more than 0.025 million square meters in 3Q24, with a total of 56MW of new orders in the domestic market for the quarter. The domestic and overseas newly added deployed area in the quarter was 0.019 million square meters, with an overall deployment rate increasing by 2.5 percentage points year-on-year to 74.4% and 1.1 percentage points quarter-on-quarter. The company strategically locates large-scale data centers in key domestic areas, balancing capital expenditures with income as domestic cloud companies increase their capital spending, selectively promoting domestic projects.

The bank continued to point out that the company's rapid growth in overseas performance was mainly due to sustained high market demand in Southeast Asia. As of 3Q24, the company had 129MW in operation overseas; 320MW under construction; and 103MW deployed, with an expected approximately 300MW to be deployed within 18 months. The company had a forward-looking reserve of 747MW; on the demand side, net signed contracts increased by 43MW to 431MW in 3Q24, including a 34MW signed capacity and 38MW reserved capacity in Bintan Island, and plans to deploy data centers in Thailand, with an estimated total IT capacity of about 120MW in a data center park in Bangkok.