On June 26, GDS Holdings (09698.HK) fell 5.37% in regular trading, trading at HKD 28.02/share, with turnover of HKD 79.63 million, extending its recent streak of consecutive declines.

On the news front, the company's Q1 net profit of RMB 2.652 billion was predominantly driven by a one-time investment gain from the disposal of DayOne equity, accounting for over 80% of total earnings. Excluding non-recurring items, core business revenue growth decelerated to single digits, fueling ongoing profit quality concerns. Goldman Sachs previously cut its target price to HKD 47, noting that domestic chip supply restrictions have caused actual capacity expansion and customer move-in progress to lag expectations, which is expected to weigh on near-term revenue and adjusted EBITDA performance.

Within the Internet Services and Infrastructure sector, the overall sector remained under pressure. Kingsoft Cloud declined 4.65% on the same day, while Sunevision fell 2.92%, reflecting broad-based weakness among data center and cloud peers.

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