On May 21, GDS Holdings-SW plunged 11.98% in regular trading, trading at HK$34.44/share, with trading volume of HK$197 million. The sharp decline reflects accelerating sell-off pressure tied to ongoing concerns over its subsidiary DayOne's proposed dual listing.

On the news front, GDS Holdings' international subsidiary DayOne Data is reportedly considering a dual listing in Singapore and the United States, aiming to raise approximately US$5 billion at a potential valuation of US$20 billion. GDS Holdings currently holds approximately 24% equity in DayOne. While the subsidiary's independent listing could unlock long-term value, the market remains deeply concerned about the restructuring of the parent-subsidiary relationship and potential capital diversion effects.

The stock has declined for multiple consecutive trading sessions since May 15, with cumulative losses widening significantly. Today's sell-off featured notably elevated volume, indicating concentrated selling pressure. The Internet Services & Infrastructure sector showed mixed performance, with Kingsoft Cloud up 1.23%, Sunevision up 0.15%, while Byte Meta fell 1.20%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)