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Hong Kong-listed operator of AI computing capacity and cloud services, formerly a Greater Bay Area property developer.
Hong Kong-listed operator of AI computing capacity and cloud services, formerly a Greater Bay Area property developer.
Earns by delivering and operating AI computing capacity under service contracts, a business it bought into in 2025 alongside its older infrastructure and property work. Results depend on how much capacity is delivered and kept in use, and on chip supply.
Moat: none. Early-stage compute operator; capacity is largely rentable hardware with limited differentiation.
Headquarters: Hong Kong, China · Employees: 243
Size Greater Bay Area AI Computing Tech (1396.HK) is a Hong Kong Real Estate company (Real Estate Development) with a market value of $1.70B, the 458th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$8.42 on 6 Nov 2026.
Performance Over six months the shares fell 40.6%, against -8.8% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue grew 76.4% over the last twelve months (peer median +2.6%); the operating margin is -5.9% (peer median 26.2%).
Valuation It trades at 15.6× forward earnings against a peer median of 12.1× (5th most expensive of 14).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$3.76B | HK$1.09B | HK$2.82B | HK$3.90B | HK$3.68B |
| Revenue growth | — | -61% | -28% | +6% | — |
| Gross profit | HK$1.11B | HK$150M | -HK$675M | HK$23.4M | -HK$53.5M |
| EBITDA | HK$500M | -HK$948M | -HK$1.28B | -HK$589M | -HK$734M |
| Net income | -HK$667M | HK$79.2M | -HK$1.99B | -HK$1.34B | -HK$1.83B |
| Free cash flow | -HK$2.13B | HK$169M | HK$474M | HK$370M | -HK$210M |
| Capital expenditure | HK$2.15B | HK$29.1M | HK$1.06M | HK$25,415 | HK$1.37M |
| Total debt | n/a | HK$5.89B | HK$6.17B | HK$7.39B | HK$9.60B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Greater Bay Area AI Computing Tech 1396.HK | $1.70B | -41% | +76% | -6% | 15.6× | n/a |
| GDS 9698.HK | $4.22B | -52% | +13% | 17% | 36.8× | n/a |
| Kingsoft Cloud 3896.HK | $2.54B | -47% | +35% | -3% | n/a | n/a |
| VNET Group, Inc. Sponsored ADR VNET | $1.00B | -64% | +23% | 7% | 89.6× | n/a |
| CoreWeave CRWV | $25.6B | -59% | +115% | -3% | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 1396.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -22.0% | -0.4% | 2nd lowest of 21 |
| 6-month return | -40.6% | -8.8% | 4th lowest of 20 |
| Distance from 52-week high | -57.6% | -17.8% | 2nd lowest of 21 |
| Revenue growth (TTM) | +76.4% | +2.6% | 3rd highest of 20 |
| Operating margin | -5.9% | 26.2% | 3rd lowest of 21 |
| Forward P/E | 15.6× | 12.1× | 5th most expensive of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Greater Bay Area AI Computing Tech 1396.HK | Hong Kong | $1.70B | -41% | +76% | -6% | 15.6× | n/a | n/a |
| Realia Business RLIA.MC | Spain | $1.68B | -3% | +82% | 41% | 13.7× | n/a | n/a |
| Jinke Property 000656.SZ | China | $1.68B | -24% | -87% | -1,642% | n/a | n/a | n/a |
| New World Development 0017.HK | Hong Kong | $1.68B | -46% | +10% | -8% | n/a | n/a | n/a |
| Greentown Service 2869.HK | Hong Kong | $1.74B | -9% | +13% | 7% | 11.2× | n/a | n/a |
| Greentown China 3900.HK | Hong Kong | $1.74B | -48% | +1% | 3% | 43.6× | n/a | n/a |
| Jeudan A/S JDAN.CO | Denmark | $1.66B | 0% | +3% | 62% | n/a | n/a | n/a |
| GuocoLand F17.SI | Singapore | $1.75B | -16% | -24% | 7% | 11.5× | n/a | n/a |
| Sino Horizon 2923.TW | Taiwan | $1.65B | +40% | +63% | 47% | n/a | n/a | n/a |
| China-Singapore Suzhou Industrial Park Development 601512.SS | China | $1.75B | -23% | -32% | 22% | 10.8× | n/a | n/a |
| HIAG Immobilien HIAG.SW | Switzerland | $1.64B | -2% | +96% | 50% | 15.4× | n/a | n/a |
| Altra Fastigheter ALTRA.ST | Sweden | $1.64B | +18% | -2% | 64% | 11.8× | n/a | n/a |
| China Jinmao 0817.HK | Hong Kong | $1.77B | -45% | -8% | 5% | 9.9× | n/a | n/a |
| PPI Public Property Invest PUBLI.ST | Sweden | $1.78B | n/a | n/a | 70% | n/a | n/a | n/a |
| Shanghai Waigaoqiao Free Trade Zone 600648.SS | China | $1.60B | -15% | -3% | 8% | 12.1× | n/a | n/a |
| Intershop ISN.SW | Switzerland | $1.82B | -9% | +5% | 79% | 18.5× | n/a | n/a |
| Dom Development DOM.WA | Poland | $1.59B | -6% | +14% | 24% | 9.1× | n/a | n/a |
| Grainger GRI.L | United Kingdom | $1.83B | +19% | -23% | 49% | 19.8× | n/a | n/a |
| Castellana Properties Socimi YCPS.MC | Spain | $1.57B | -4% | +59% | 63% | n/a | n/a | n/a |
| Yuexiu Property 0123.HK | Hong Kong | $1.55B | -30% | -21% | 0% | 52.6× | n/a | n/a |
| Inmocemento IMC.MC | Spain | $1.88B | -4% | +10% | 29% | n/a | n/a | n/a |