mark-webb
joyy-inc-yy-us-joyy-us
vitasoy-international-holdings-ltd-0345-hk
iqiyi-inc-iq-us
china-medical-systems-holdings-ltd-0867-hk
58com-wuba-us
tal-education-group-tal-us
pinduoduo-inc-pdd-holdings-pdd-us
wuxi-biologics-(cayman)-inc-2269-hk
china-lodging-group-ltd-huazhu-group-ltd-h-world-group-ltd-htht-us-1179-hk
china-feihe-ltd-6186-hk
ak-medical-hold-1789-hk
luckin-coffee-inc-lkncy-us
nmc-health-plc-nmc-ln
china-harmony-auto-holding-ltd-3836-hk
jinkosolar-holding-co-ltd-jks-us
wirecard-ag-wdi-gr
china-bak-battery-inc-cbak-energy-technology-inc-cbat-us
kandi-technologies-group-inc-kndi-us
gsx-techedu-inc-gotu-us
gds-holdings-ltd-gds-us-9698-hk
china-metal-resources-utilization-ltd-1636-hk
tianneng-power-international-ltd-0819-hk
hebron-technology-co-ltd-nisn-us
wins-finance-holdings-inc-wins-us
ideanomics-inc-idex-us
upl-ltd-upll-in
staar-surgical-company-staa-us
lexinfintech-holdings-ltd-lx-us
spi-energy-co-ltd-spi-us
seek-ltd-sek-au
ever-sunshine-lifestyle-services-group-ltd-1995-hk
beijing-jingxi-culture-and-tourism
china-aoyuan-group-3883-hk
Insights
19 May, 2026
NEWSLETTER: GDS HOLDINGS
Do Data Centres Earn Their Keep?

Mark Webb
GDS Holdings is a reminder that an appealing industry can struggle to generate an appealing return. Data centres are one of the market’s favourite infrastructure themes: cloud demand, artificial intelligence, digitalisation, outsourcing, and the endless growth in data consumption all point in the same direction. On paper, that sounds like a very attractive place to be. The question, though, is...
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1 December, 2023
NEWSLETTER: EVERGRANDE (3333 HK)
Never profitable

Fredrik Oeqvist
Evergrande’s much delayed and recently published 2021 annual report makes clear that it significantly overstated revenue and earnings – most likely for many years. Contrary to what some people think, Evergrande was not so much a victim of tightened liquidity or a COVID-induced property market downturn; its problems were far more fundamental – there were never any profits....
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