GDHEC CO.,LTD(SH:600673) Zheng Quan Shi Bao·2025-09-11 17:55Core Viewpoint - The largest merger and acquisition deal in China's data center industry has been announced, with Qinhuai Data being acquired for 28 billion yuan by a consortium led by Dongyangguang Industrial, which includes insurance investment institutions and local government funds [1] Company Overview - Qinhuai Data, established in 2015, ranks among the top players in China's large-scale data center market, holding the leading position in three indices: intensive development, international layout, and green low-carbon [2] - As of May 2023, Qinhuai Data's total assets were 21.87 billion yuan, with net assets of 9.50 billion yuan [3] - The company has a total IT capacity of over 900 MW in China, with more than 30 large-scale data centers [3] Financial Performance - In the first half of 2023, Qinhuai Data reported revenue of 2.997 billion yuan, a year-on-year increase of 53%, with adjusted EBITDA of 1.630 billion yuan, up 56.9%, and a net profit of 472 million yuan, reflecting a 60.5% growth [2] - For the fiscal year 2024, the company is projected to achieve revenue of 6.048 billion yuan and a net profit of 1.309 billion yuan [3] Market Reaction - Following the announcement of the acquisition, Dongyangguang's stock price surged over 8% during trading, closing with a 4.66% increase, bringing its total market capitalization to 75.8 billion yuan [4]