On August 10, GDS-SW fell 5.38% in regular trading, trading at 30.44 HKD/share, with turnover of HKD 9.51 million. The decline comes as the company's Q2 earnings report is set for disclosure on August 13, with market concerns intensifying over earnings quality.

Market consensus expects Q2 net revenue of approximately RMB 3.086 billion, up 9.32% year-over-year, but EBIT is projected at RMB 401 million, down 3.23% year-over-year, while adjusted EPS remains negative. More critically, over 80% of Q1 net profit derived from a one-time investment gain related to the disposal of DayOne equity stakes. Excluding this non-recurring item, actual operating profit was only around RMB 600 million, with operating cash flow contracting significantly, signaling weakening earnings quality.

Previously, Goldman Sachs noted that actual capacity expansion and customer move-in progress lagged expectations, pressuring near-term revenue and EBITDA performance. The approaching earnings window combined with structural profitability concerns weighed on sentiment.

(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.)