金吾财讯 | 世纪互联(VNET)盘前涨超2%，截至发稿，报9.18美元。消息面上，汇丰环球研究发表报告，指万国数据及世纪互联于2025年第四季均录得强劲订单流入，分别为95MW及137MW，但两者股价走势在业绩后出现分歧，世纪互联绩后急跌，万国数据温和向上，主要由于市场对订单的预期不同。万国数据今年至今已签订200MW新订单，另有500MW(主要为GPU)处于谅解备忘录阶段，有望于未来数季落实，令市场惊喜；世纪互联则未有公布今年至今签订的新订单，市场预期来自主要客户的约500MW订单仍在招标过程中，任何超预期的未来订单公布或成为估值重评的催化剂。
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