GDS-SW (09698) surged nearly 6% following its earnings release, gaining 5.58% to HKD 29.92 by the time of writing, with a trading volume of HKD 35.09 million.

The company reported its Q3 results, achieving net revenue of RMB 2.887 billion, up 10.2% year-over-year. It posted a net profit of RMB 729 million, marking a turnaround from a loss in the same period last year. Adjusted EBITDA stood at RMB 1.342 billion, rising 11.4% YoY.

GDS-SW maintained its full-year 2025 revenue guidance of RMB 11.29–11.59 billion, with adjusted EBITDA projected between RMB 5.19–5.39 billion. Capital expenditure guidance was set at RMB 2.7 billion.

William Huang, Chairman and CEO of GDS, stated, "Through disciplined execution of our strategy, we delivered another quarter of solid financial and operational performance. In Q3 2025, we continued fulfilling backlog orders and achieved high occupancy rates. We are strategically well-positioned to capture the growing demand in AI, which we view as a key long-term growth catalyst for our business."