On June 9, GDS Holdings (09698.HK) rose 3.95% in regular trading, trading at HK$33.7/share, with trading volume of HK$20.98 million. The stock is rebounding after a 6.83% plunge in the prior session, which had pushed the share price to HK$32.78.

On the news front, the company recently signed a strategic cooperation agreement with Ulanqab municipal government to invest over 300 billion yuan over five years to build GW-level green-power-connected data center clusters, achieving over 80% green energy coverage. Additionally, Q1 new contract orders reached 346MW in IT power capacity, exceeding the full prior fiscal year total, demonstrating robust AI infrastructure demand. Multiple major investment banks have maintained buy ratings on the stock, providing valuation support after the cumulative pullback of over 15% driven by profit quality concerns and the 300-500 billion yuan capital expenditure plan over the next three years.

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