On August 14, GDS-SW rose 8.83% in regular trading, trading at HK$34.16/share, with turnover of HK$27.75 million. The surge follows the company's Q2 earnings release after market hours on August 13, which revealed a significant turnaround to profitability.

GDS-SW reported Q2 net income of RMB 838 million, compared with a net loss of RMB 70.58 million in the year-ago period, marking a decisive swing to profitability. Revenue rose 6.5% year-over-year to RMB 3.088 billion. Adjusted EBITDA reached RMB 1.406 billion, up 2.5% YoY, with an adjusted EBITDA margin of 45.5%. The company raised its full-year revenue guidance to RMB 12.7–13.0 billion from a prior range of RMB 12.4–12.9 billion, implying 11.1%–13.7% YoY growth. Full-year adjusted EBITDA guidance was also lifted to RMB 5.9–6.1 billion.

Total signed and pre-signed area reached 784,802 square meters at quarter-end, up 18.2% YoY and 8.2% sequentially, with net new signings of 64,750 square meters in Q2. The US-listed ADRs had already gained approximately 5% overnight following the earnings release.

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