HK Stock Market Move | GD-HKGBA HLDGS (01396) rose by more than 11%. The company turned losses into profits last year. The transformation to the smart computing track will open up valuation space.

GD-HKGBA HLDGS (01396) rose more than 11%, as of the time of writing, the increase was 11.76%, reaching 7.6 Hong Kong dollars, with a turnover of 72.7583 million Hong Kong dollars. On the news front, there has been an explosive growth in demand for AI computing power, with events such as the rise in computing power and the price of words continuing to catalyze. As of March this year, China's daily word call volume has exceeded 140 trillion, an increase of over 40% from the end of last year. Public information shows that in October last year, GD-HKGBA HLDGS officially completed the acquisition of Tendon Data to achieve business restructuring, transforming comprehensively into a dual-driven mode of "infrastructure and AI business," achieving a strategic upgrade from "physical space builders" to "digital ecology operators," and will actively expand into new areas such as AI computing power cloud services and intelligent computing center construction and operation in the future. GD-HKGBA HLDGS previously reported its 2025 annual performance, showing a net profit turnaround from a huge loss of about 20.413 billion yuan in the 2024 fiscal year to a net profit of about 73 million yuan for the 2025 fiscal year. The company holds more than 15 billion yuan of intelligent computing service orders, with customers including telecommunications operators, large Internet companies, and leading cloud service providers. Guoyuan International believes that after the company transforms into the intelligent computing track, it will deeply bind the high-growth dividend of the AI industry, and the valuation system is expected to switch to a "computing power + technology" valuation framework. With the improvement of the company's business structure, growth expectations may be realized in the 2026 performance.