美股異動丨萬國數據盤前升超5% 獲多家機構看好
萬國數據(GDS.US)盤前升5.12%,報26.5美元。華泰證券認為,萬國數據2024年實現營業收入103.22億元,同比增長5.5%,實現調整後EBITDA 48.76億元,同比增長3%(均為國際業務出表後口徑)。若從合併報表口徑來看,公司2024年實現調整後EBITDA 51.93億元,同比增長12.3%,略高於該行此前預測(50.46億元)。該行認為,AI推理需求的增長有望帶動公司國內數據中心空置率下降,從而為公司帶來估值提升及業績改善機遇。高盛發研報稱,萬國數據的首隻公開房地產投資信託基金(REIT)發行申請於3月26日獲中國證監會批准,此前已獲國家發展和改革委員會批准。根據REIT基金招股説明書,2025年預估税息折舊及攤銷前利潤為1.39億元人民幣,企業價值為21.95億元人民幣,隱含的2025年企業價值/税息折舊及攤銷前利潤倍數為15.8倍。相比之下,按當前市值計算,萬國數據中國業務2025年的企業價值/税息折舊及攤銷前利潤倍數約為11倍。(格隆匯)

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