GDS-SW (09698) announced its financial results for the first quarter of 2026. The group achieved net revenue of RMB 33.67 billion, representing a year-on-year increase of 23.6%. Net profit reached RMB 26.52 billion, a significant rise of 247.1% compared to the same period last year. Basic earnings per ordinary share were RMB 1.67.

Mr. Huang Wei, Chairman and CEO of GDS, stated, "We started 2026 with robust sales momentum, securing approximately 200MW in net new bookings during the first quarter, setting a new historical record for a single quarter. As demand for AI infrastructure continues to surge, we believe GDS is uniquely positioned to capture the growth opportunities in the next phase."

Mr. Dan Newman, Chief Financial Officer, commented, "In the first quarter, our revenue and adjusted EBITDA grew by 7.9% and 8.0% year-over-year, respectively, excluding certain one-time items. During the quarter, we further strengthened our financial position through the sale of DayOne shares and a private placement of convertible preferred stock. These actions will support the expansion of our core business and create sustainable long-term value for our stakeholders."

The company confirmed that its previously announced full-year 2026 guidance remains unchanged. Total revenue is expected to be between RMB 124 billion and RMB 129 billion. Adjusted EBITDA is projected to range from RMB 57.5 billion to RMB 60 billion. Capital expenditures are estimated to be approximately RMB 90 billion.