Home / 9698.HK : HKSE

AI Analysis Fundamentals Valuation Video Analysis Similar

AI Analysis

How does 9698.HK make money? Does 9698.HK have pricing power? What's the Earnings Whisper? Will 9698.HK profit more as the business scales? What is 9698.HK's management track record? Is 9698.HK's current price justified?

GDS Holdings Limited

HKD 29.7 -$5.92 (-16.62%)

HKSE · 16 Sep 2026 06:25 UTC

Previous Close

HKD 29.86

Day Range

HKD 29.16HKD 30.28

Year Range

HKD 27.32HKD 46.94

Market Cap

46.32B

AVG Volume

6.13M

Trailing/Forward PE

10.85/1095.17

PEG ratio

-0.11

Dividend Yield

Next Earnings Date

2026-11-24

Primary Exchange

Hong Kong Stock Exchange

Revenue (CNY)

9698.HK Revenue (CNY) by year
Period	Revenue (CNY)
2025	11.43B
2024	11.11B
2023	9.96B
2022	9.33B
2021	7.82B
2020	5.74B
2019	4.12B
2018	2.79B
2017	1.62B
2016	1.06B

Net Income (CNY)

9698.HK Net Income (CNY) by year
Period	Net Income (CNY)
2025	949.64M
2024	3.43B
2023	-4.29B
2022	-1.27B
2021	-1.21B
2020	-666.41M
2019	-442.08M
2018	-430.27M
2017	-326.9M
2016	-276.41M

Operating Income (CNY)

9698.HK Operating Income (CNY) by year
Period	Operating Income (CNY)
2025	1.51B
2024	1.14B
2023	-2.46B
2022	551.78M
2021	569.52M
2020	672.94M
2019	479.78M
2018	168.35M
2017	82.23M
2016	-42.37M

EBITDA (CNY)

9698.HK EBITDA (CNY) by year
Period	EBITDA (CNY)
2025	6.04B
2024	4.64B
2023	1.36B
2022	3.85B
2021	3.23B
2020	2.31B
2019	1.63B
2018	916.33M
2017	460.94M
2016	132.11M

Cash Flows (CNY)

9698.HK Cash Flows (CNY) by year
Period	Cash Flows (CNY)
2025	-1.25B
2024	-2.83B
2023	-4.19B
2022	-4.95B
2021	-8.5B
2020	-7.7B
2019	-4.26B
2018	-4.27B
2017	-1.94B
2016	-1.14B

EPS (CNY)

9698.HK EPS (CNY) by year
Period	EPS (CNY)
2025	0.46
2024	2.27
2023	-2.91
2022	-0.87
2021	-0.83
2020	-0.52
2019	-0.4
2018	-0.43
2017	-0.42
2016	-0.6

Expenses (CNY)

9698.HK Expenses (CNY) by year
Period	Expenses (CNY)
2025	5.69B
2024	6.04B
2023	7.62B
2022	9.18B
2021	10.91B
2020	8.9B
2019	5.12B
2018	4.71B
2017	2.09B
2016	1.3B

Cash & Debt (CNY)

9698.HK Cash & Debt (CNY) by year
Period	Cash & Debt (CNY)
2025	14.98B
2024	7.87B
2023	7.71B
2022	8.61B
2021	9.97B
2020	16.26B
2019	5.81B
2018	2.16B
2017	1.87B
2016	1.81B

Debt ratios

9698.HK Debt ratios by year
Period	Debt ratios
2025	2.05
2024	2.8
2023	3.74
2022	3.27
2021	3.44
2020	1.57
2019	3.55
2018	6.42

Margins

9698.HK Margins by year
Period	Margins
2025	22.62%
2024	22.02%
2023	19.31%
2022	20.76%
2021	22.76%
2020	27.02%
2019	25.29%
2018	22.29%
2017	25.27%
2016	25.16%

Return on Capital

9698.HK Return on Capital by year
Period	Return on Capital
2025	3.42%
2024	14.47%
2023	-21.31%
2022	-5.24%
2021	-4.95%
2020	-2.59%
2019	-4.29%
2018	-7.79%
2017	-7.3%
2016	-9.26%

Shares Outstanding

9698.HK Shares Outstanding by year
Period	Shares Outstanding
2025	1.55B
2024	1.48B
2023	1.47B
2022	1.47B
2021	1.46B
2020	1.38B
2019	1.14B
2018	1B
2017	855.1M
2016	540.31M

Book Value Per Share (CNY)

9698.HK Book Value Per Share (CNY) by year
Period	Book Value Per Share (CNY)
2025	17.85
2024	15.95
2023	13.69
2022	16.48
2021	16.81
2020	18.57
2019	9.01
2018	5.52
2017	5.23
2016	5.53

Total Assets (CNY)

9698.HK Total Assets (CNY) by year
Period	Total Assets (CNY)
2025	80.03B
2024	73.65B
2023	74.45B
2022	74.81B
2021	71.63B
2020	57.26B
2019	31.49B
2018	20.89B
2017	13.14B
2016	8.2B

PE Ratio

9698.HK PE Ratio by year
Period	PE Ratio
Sep 26	14
Sep 26	14.3
Sep 26	14.45
Aug 26	15.52
Aug 26	15.66
Aug 26	16.12
Aug 26	15.24
Jul 26	14.68
Jul 26	14.87
Jul 26	14.53
Jul 26	15.03
Jul 26	13.73
Jun 26	39.53
Jun 26	44.64
Jun 26	45.85
Jun 26	48.85
May 26	47.03
May 26	47.52
May 26	60.04
May 26	62.67
Apr 26	58.01
Apr 26	62.98
Apr 26	60.78
Apr 26	58.74
Apr 26	56.82
Mar 26	10.13
Mar 26	10.35
Mar 26	9.94
Mar 26	9.16
Feb 26	10.08
Feb 26	10.59
Feb 26	11.08
Feb 26	10.34
Jan 26	11.06
Jan 26	10.14
Jan 26	10.29
Jan 26	9.64
Jan 26	8.79
Dec 25	8.43
Dec 25	8.38
Dec 25	8.72
Dec 25	8.39
Nov 25	8.32
Nov 25	7.24
Nov 25	8.69
Nov 25	9.51
Oct 25	10.02
Oct 25	10.1
Oct 25	9.23
Oct 25	10.6
Oct 25	11.63
Sep 25	11.84
Sep 25	11.38
Sep 25	11.64
Sep 25	9.71
Aug 25	10.11
Aug 25	9.37
Aug 25	9.51
Aug 25	10.67
Aug 25	10.45
Jul 25	10.75
Jul 25	11.15
Jul 25	9.71
Jul 25	9.64
Jun 25	11.54
Jun 25	10.31
Jun 25	10.07
Jun 25	9.9
May 25	9.41
May 25	10.94
May 25	10.47
May 25	10.28
May 25	11.04
Apr 25	9.1
Apr 25	8.15
Apr 25	8.5
Apr 25	10.28

Free Cash Flow Yield

9698.HK Free Cash Flow Yield by year
Period	Free Cash Flow Yield
Sep 26	-3.39%
Sep 26	-3.32%
Sep 26	-3.28%
Aug 26	-3.06%
Aug 26	-3.03%
Aug 26	-2.94%
Aug 26	-3.11%
Jul 26	-3.23%
Jul 26	-3.19%
Jul 26	-3.26%
Jul 26	-3.15%
Jul 26	-3.45%
Jun 26	-3.33%
Jun 26	-2.95%
Jun 26	-2.87%
Jun 26	-2.7%
May 26	-2.8%
May 26	-2.77%
May 26	-2.19%
May 26	-2.1%
Apr 26	-2.27%
Apr 26	-2.09%
Apr 26	-2.17%
Apr 26	-2.24%
Apr 26	-2.32%
Mar 26	-1.35%
Mar 26	-1.32%
Mar 26	-1.37%
Mar 26	-1.49%
Feb 26	-1.36%
Feb 26	-1.29%
Feb 26	-1.23%
Feb 26	-1.32%
Jan 26	-1.24%
Jan 26	-1.35%
Jan 26	-1.33%
Jan 26	-1.42%
Jan 26	-1.55%
Dec 25	-1.62%
Dec 25	-1.63%
Dec 25	-1.57%
Dec 25	-1.63%
Nov 25	-1.64%
Nov 25	-1.89%
Nov 25	-0.56%
Nov 25	-0.51%
Oct 25	-0.48%
Oct 25	-0.48%
Oct 25	-0.53%
Oct 25	-0.46%
Oct 25	-0.42%
Sep 25	-2.49%
Sep 25	-2.59%
Sep 25	-2.53%
Sep 25	-3.03%
Aug 25	-2.91%
Aug 25	-3.14%
Aug 25	-3.1%
Aug 25	-2.76%
Aug 25	-2.82%
Jul 25	-2.74%
Jul 25	-2.64%
Jul 25	-3.03%
Jul 25	-3.05%
Jun 25	-7.15%
Jun 25	-8%
Jun 25	-8.19%
Jun 25	-8.33%
May 25	-8.77%
May 25	-7.54%
May 25	-7.88%
May 25	-8.03%
May 25	-7.47%
Apr 25	-9.07%
Apr 25	-10.12%
Apr 25	-9.71%
Apr 25	-8.02%
Mar 25	-10.9%
Mar 25	-9.6%
Mar 25	-8.31%
Mar 25	-7.5%
Feb 25	-7.59%
Feb 25	-5.62%
Feb 25	-6.84%
Feb 25	-10.11%
Jan 25	-13%
Jan 25	-13.04%
Jan 25	-12.17%
Jan 25	-9.61%
Jan 25	-11.66%
Dec 24	-16.55%
Dec 24	-17.54%
Dec 24	-16.59%
Dec 24	-16.79%
Nov 24	-17.44%
Nov 24	-18.8%
Nov 24	-15.13%
Nov 24	-14.84%
Nov 24	-16.19%
Oct 24	-16.45%

Price to Sales

9698.HK Price to Sales by year
Period	Price to Sales
Sep 26	3.29
Sep 26	3.36
Sep 26	3.39
Aug 26	3.64
Aug 26	3.68
Aug 26	3.79
Aug 26	3.58
Jul 26	3.45
Jul 26	3.49
Jul 26	3.41
Jul 26	3.53
Jul 26	3.22
Jun 26	3.28
Jun 26	3.71
Jun 26	3.81
Jun 26	4.06
May 26	3.91
May 26	3.95
May 26	4.99
May 26	5.21
Apr 26	4.82
Apr 26	5.23
Apr 26	5.05
Apr 26	4.88
Apr 26	4.72
Mar 26	5.07
Mar 26	5.18
Mar 26	4.98
Mar 26	4.59
Feb 26	5.05
Feb 26	5.3
Feb 26	5.54
Feb 26	5.17
Jan 26	5.54
Jan 26	5.08
Jan 26	5.15
Jan 26	4.82
Jan 26	4.4
Dec 25	4.22
Dec 25	4.19
Dec 25	4.37
Dec 25	4.2
Nov 25	4.16
Nov 25	3.62
Nov 25	3.61
Nov 25	3.95
Oct 25	4.16
Oct 25	4.2
Oct 25	3.84
Oct 25	4.41
Oct 25	4.84
Sep 25	4.79
Sep 25	4.61
Sep 25	4.71
Sep 25	3.93
Aug 25	4.09
Aug 25	3.79
Aug 25	3.85
Aug 25	4.32
Aug 25	4.23
Jul 25	4.35
Jul 25	4.51
Jul 25	3.93
Jul 25	3.9
Jun 25	3.56
Jun 25	3.18
Jun 25	3.1
Jun 25	3.05
May 25	2.9
May 25	3.37
May 25	3.23
May 25	3.17
May 25	3.4
Apr 25	2.8
Apr 25	2.51
Apr 25	2.62
Apr 25	3.17
Mar 25	3.13
Mar 25	3.55
Mar 25	4.1
Mar 25	4.55
Feb 25	4.49
Feb 25	6.06
Feb 25	4.98
Feb 25	3.37
Jan 25	2.62
Jan 25	2.62
Jan 25	2.8
Jan 25	3.55
Jan 25	2.92
Dec 24	2.62
Dec 24	2.47
Dec 24	2.61
Dec 24	2.58
Nov 24	2.48
Nov 24	2.31
Nov 24	2.87
Nov 24	2.92
Nov 24	2.68
Oct 24	2.63

EV/EBITDA

9698.HK EV/EBITDA by year
Period	EV/EBITDA
Sep 26	13.13
Sep 26	13.29
Sep 26	13.37
Aug 26	13.92
Aug 26	13.99
Aug 26	14.23
Aug 26	13.77
Jul 26	13.48
Jul 26	13.58
Jul 26	13.4
Jul 26	13.67
Jul 26	12.99
Jun 26	11.6
Jun 26	12.4
Jun 26	12.6
Jun 26	13.07
May 26	12.78
May 26	12.86
May 26	14.82
May 26	15.24
Apr 26	14.51
Apr 26	15.29
Apr 26	14.94
Apr 26	14.62
Apr 26	14.32
Mar 26	15.2
Mar 26	15.4
Mar 26	15.02
Mar 26	14.29
Feb 26	15.15
Feb 26	15.63
Feb 26	16.09
Feb 26	15.39
Jan 26	16.08
Jan 26	15.21
Jan 26	15.35
Jan 26	14.74
Jan 26	13.94
Dec 25	13.6
Dec 25	13.55
Dec 25	13.87
Dec 25	13.56
Nov 25	13.49
Nov 25	12.47
Nov 25	12.73
Nov 25	13.38
Oct 25	13.78
Oct 25	13.85
Oct 25	13.16
Oct 25	14.24
Oct 25	15.06
Sep 25	15.38
Sep 25	15.03
Sep 25	15.23
Sep 25	13.73
Aug 25	14.04
Aug 25	13.47
Aug 25	13.57
Aug 25	14.48
Aug 25	14.31
Jul 25	14.54
Jul 25	14.85
Jul 25	13.74
Jul 25	13.68
Jun 25	16.42
Jun 25	15.51
Jun 25	15.33
Jun 25	15.21
May 25	14.84
May 25	15.98
May 25	15.63
May 25	15.49
May 25	16.05
Apr 25	14.61
Apr 25	13.91
Apr 25	14.17
Apr 25	15.49
Mar 25	44.43
Mar 25	47.15
Mar 25	50.7
Mar 25	53.56
Feb 25	53.2
Feb 25	63.33
Feb 25	56.37
Feb 25	46
Jan 25	41.18
Jan 25	41.13
Jan 25	42.34
Jan 25	47.13
Jan 25	43.12
Dec 24	45.6
Dec 24	44.56
Dec 24	45.56
Dec 24	45.34
Nov 24	44.65
Nov 24	43.38
Nov 24	47.35
Nov 24	47.73
Nov 24	46.02
Oct 24	45.72

Price/Operating Cashflow

9698.HK Price/Operating Cashflow by year
Period	Price/Operating Cashflow
Sep 26	13.03
Sep 26	13.3
Sep 26	13.44
Aug 26	14.44
Aug 26	14.57
Aug 26	15
Aug 26	14.18
Jul 26	13.65
Jul 26	13.84
Jul 26	13.51
Jul 26	13.98
Jul 26	12.78
Jun 26	11.11
Jun 26	12.54
Jun 26	12.88
Jun 26	13.72
May 26	13.21
May 26	13.35
May 26	16.87
May 26	17.61
Apr 26	16.3
Apr 26	17.69
Apr 26	17.08
Apr 26	16.5
Apr 26	15.96
Mar 26	17.04
Mar 26	17.41
Mar 26	16.73
Mar 26	15.42
Feb 26	16.97
Feb 26	17.82
Feb 26	18.64
Feb 26	17.39
Jan 26	18.62
Jan 26	17.07
Jan 26	17.31
Jan 26	16.22
Jan 26	14.8
Dec 25	14.19
Dec 25	14.1
Dec 25	14.68
Dec 25	14.12
Nov 25	13.99
Nov 25	12.19
Nov 25	12.67
Nov 25	13.86
Oct 25	14.6
Oct 25	14.72
Oct 25	13.45
Oct 25	15.45
Oct 25	16.96
Sep 25	19.13
Sep 25	18.4
Sep 25	18.81
Sep 25	15.69
Aug 25	16.34
Aug 25	15.14
Aug 25	15.36
Aug 25	17.25
Aug 25	16.89
Jul 25	17.37
Jul 25	18.03
Jul 25	15.7
Jul 25	15.58
Jun 25	20.8
Jun 25	18.59
Jun 25	18.15
Jun 25	17.85
May 25	16.96
May 25	19.73
May 25	18.88
May 25	18.53
May 25	19.9
Apr 25	16.4
Apr 25	14.69
Apr 25	15.32
Apr 25	18.54
Mar 25	17.87
Mar 25	20.29
Mar 25	23.45
Mar 25	25.98
Feb 25	25.66
Feb 25	34.65
Feb 25	28.48
Feb 25	19.27
Jan 25	14.99
Jan 25	14.95
Jan 25	16.02
Jan 25	20.27
Jan 25	16.71
Dec 24	15.41
Dec 24	14.54
Dec 24	15.38
Dec 24	15.19
Nov 24	14.62
Nov 24	13.57
Nov 24	16.86
Nov 24	17.18
Nov 24	15.76
Oct 24	15.5

Price to Book

9698.HK Price to Book by year
Period	Price to Book
Sep 26	1.23
Sep 26	1.25
Sep 26	1.27
Aug 26	1.36
Aug 26	1.37
Aug 26	1.41
Aug 26	1.34
Jul 26	1.29
Jul 26	1.3
Jul 26	1.27
Jul 26	1.32
Jul 26	1.2
Jun 26	1.35
Jun 26	1.53
Jun 26	1.57
Jun 26	1.67
May 26	1.61
May 26	1.63
May 26	2.05
May 26	2.14
Apr 26	1.99
Apr 26	2.16
Apr 26	2.08
Apr 26	2.01
Apr 26	1.94
Mar 26	2.12
Mar 26	2.17
Mar 26	2.08
Mar 26	1.92
Feb 26	2.11
Feb 26	2.22
Feb 26	2.32
Feb 26	2.16
Jan 26	2.32
Jan 26	2.12
Jan 26	2.15
Jan 26	2.02
Jan 26	1.84
Dec 25	1.77
Dec 25	1.75
Dec 25	1.83
Dec 25	1.76
Nov 25	1.74
Nov 25	1.52
Nov 25	1.59
Nov 25	1.74
Oct 25	1.83
Oct 25	1.85
Oct 25	1.69
Oct 25	1.94
Oct 25	2.13
Sep 25	2.2
Sep 25	2.11
Sep 25	2.16
Sep 25	1.8
Aug 25	1.87
Aug 25	1.74
Aug 25	1.76
Aug 25	1.98
Aug 25	1.94
Jul 25	1.99
Jul 25	2.07
Jul 25	1.8
Jul 25	1.79
Jun 25	1.67
Jun 25	1.49
Jun 25	1.46
Jun 25	1.43
May 25	1.36
May 25	1.58
May 25	1.52
May 25	1.49
May 25	1.6
Apr 25	1.32
Apr 25	1.18
Apr 25	1.23
Apr 25	1.49
Mar 25	1.38
Mar 25	1.57
Mar 25	1.82
Mar 25	2.01
Feb 25	1.99
Feb 25	2.68
Feb 25	2.21
Feb 25	1.49
Jan 25	1.16
Jan 25	1.16
Jan 25	1.24
Jan 25	1.57
Jan 25	1.29
Dec 24	1.21
Dec 24	1.14
Dec 24	1.2
Dec 24	1.19
Nov 24	1.14
Nov 24	1.06
Nov 24	1.32
Nov 24	1.34
Nov 24	1.23
Oct 24	1.21

No video analysis for this stock yet. Request one from our team.

AI Analysis

GDS Holdings Limited

Video analysis: 9698.HK

Similar companies