According to management, the customer occupancy rate remained stable in the first quarter of 2025, at approximately 0.02 million square meters, and is expected to maintain the current rate.
According to the Zhitung Finance APP, Goldman Sachs issued a Research Report stating that GDS-SW (09698) has an EBITDA for the first quarter of 2025 that meets expectations, giving it a Buy rating and a 12-month Target Price of $42 / HK$41. The performance of GDS in the first quarter of 2025 showed a 12% year-on-year revenue growth; EBITDA grew by 16% year-on-year, exceeding market expectations by 1%, and is basically in line with expectations. According to management, the client occupancy rate remained stable in the first quarter of 2025, at about 0.02 million square meters, and is expected to maintain the current pace. Although management believes there is uncertainty in recent demand, the company remains cautious in terms of Order reception and holds an optimistic view on the mid-term demand for the 900 MW capacity under development over the next four years.
