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May 2026
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Largest Data Centers Public Companies in China
Benchmark revenue and EBITDA valuation multiples for public comps like
Sugon, IEIT Systems, GDS Holdings, Wangsu and Sinnet Technology.
 | Dawning Information Industry Co Ltd is a China-based company engages in the manufacturing and selling of computers and servers. The company also provides industrial solutions and cloud computing services. Its products include server products, safety products, high-performance computing products, infrastructure, storage products, and cloud computing products. It offers integrated information services such as cloud computing and large data, software development, system integration and technical services. | $14 | +55% | $20B | $20B | 9.1x | 40.8x | ||
| IEIT Systems Co Ltd is a provider of IT infrastructure products, solutions, and services. Its business focuses on three fields: servers, storage, and networks. The company is committed to the innovation of digital technology along with the application and integration of digital worlds with the physical world. It is helping enterprises embark on a path of sustainable development by driving intelligent digital transformation. | $10 | +41% | $15B | $16B | 0.7x | 27.5x | ||
| GDS Holdings started as an IT service provider in 2001 then moved to the data center business with its first self-developed data center opening in 2010. The company now develops and operates data centers in China and also builds, operates and transfers data centers for other clients. It offers colocation and managed services and mainly targets hyperscale cloud service customers who take large areas of its data centers or even whole data centers under long-term contracts. Its data centers are located predominantly in and around the Tier 1 cities in China and it has also started an expanding into Southeast Asia via the now 38% owned DayOne. GDS listed on the Nasdaq in 2016 and completed a secondary listing in Hong Kong in 2020. | $4 | +42% | $7B | $12B | 7.2x | 13.5x | ||
| Wangsu Science & Technology Co Ltd is a China-based company engaged in the provision of telecommunication value-added services. It is mainly engaged in the provision of a content delivery network (CDN) services, Internet data center (IDC) services, and cloud service integrated solutions. The company operates its business in domestic and overseas markets. | $3 | +67% | $6B | $5B | 7.7x | 34.1x | ||
| Beijing Sinnet Technology Co Ltd is a professional data center and cloud computing service provider in China. The company's main business is Internet data center services (IDC and its value-added services), cloud computing services, Internet broadband access services (ISP) and other Internet integrated services. | $2 | +22% | $4B | $5B | 4.5x | 29.5x | ||
| Fujian Star-Net Communication Co Ltd is a China-based company operates in the terminals and video application systems. It serves in the fields of network communication, switches, cloud computing, payment terminals, desktop clouds, wireless and broadband access, and video information applications. The company serves approximately 100 countries worldwide. Its product portfolio includes smart network, smart cloud, and smart finance. | $4 | +29% | $3B | $3B | 1.0x | 13.5x | ||
| VNET started as AsiaCloud in 1999 and moved into the data center business, opening its first self-developed data center in 2010. The firm listed (as 21Vianet) on the Nasdaq in April 2011, subsequently changing its name to VNET Group in 2021. It originally focused on providing data center services such as colocation and cloud services to retail clients in China, but added hyperscale customers in 2019 and now counts large Chinese hyperscalers such as Alibaba Cloud, Tencent Cloud, and Huawei Cloud as customers. At the end of September 2025, it had 52,288 retail cabinets, with the majority in Beijing, Shanghai, and the Greater Bay area. It also had 783 MW of wholesale capacity in service, with a further 306 MW under construction and a further 705 MW held for future development. | $10 | +79% | $3B | $6B | 4.1x | 13.0x | ||
| Beijing Topnew Info & Tech Co Ltd is a software company providing internet data center services, cloud services, internet access services, internet data center and cloud platform information system integration services, and application software development services. The company provides high-end IT technical services for multinational companies, and provides customers with customized comprehensive solutions such as design, procurement, configuration, testing, installation, inventory management, and transportation services, and delivers IT services all over the world. | $10 | +76% | $1B | $1B | 37.8x | (430.3x) | ||
| Dynastar Holdings Inc is a blockchain technology company. It is engaged in the operation of cryptocurrencies, especially Ethereum mining. The company actively expands blockchain financial services, is committed to launching a professional, convenient and renowned digital asset financial service platform, and improving the resource allocation of digital assets such as Bitcoin and the layout of the blockchain industry chain. | $0 | -20% | $19M | $19M | — | — | ||
| Median | $4 | +42% | $4B | $5B | 5.8x | 20.5x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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