GDS vs SOGP
GDS Holdings Limited and Sound Group Inc., side by side — 9 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | GDS | SOGP |
|---|---|---|
| Revenue | ¥11.4B | ¥3.1B |
| Net income | ¥949.6M | ¥220.6M |
| Gross margin | 22.6% | 29.2% |
| Net margin | 8.3% | 7.1% |
| Return on equity | 3.9% | 69.3% |
| Diluted EPS | — | — |
| Dividend / share | — | — |
| Payout ratio | — | — |
| Free cash flow | ¥-1.3B | ¥276.6M |
| Equity | ¥25.8B | ¥401.1M |
| Net debt / equity | 0.45× | −1.85× |
| Current ratio | 2.60× | 1.94× |
| Revenue CAGR 5y | 14.8% | 15.6% |
| Profit CAGR 5y | — | — |
GDS bills 3.7× the revenue of SOGP, and keeps more of each dollar of revenue as profit (8.3% against 7.1%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
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Revenue by year
9 years side by side
| Fiscal year | GDS | SOGP |
|---|---|---|
| FY2025 | ¥11.4B | ¥3.1B |
| FY2024 | ¥10.3B | ¥2.0B |
| FY2023 | ¥9.8B | ¥2.1B |
| FY2022 | ¥9.3B | ¥2.2B |
| FY2021 | ¥7.8B | ¥2.1B |
| FY2020 | ¥5.7B | ¥1.5B |
| FY2019 | ¥4.1B | ¥1.2B |
| FY2018 | ¥2.8B | ¥798.6M |
| FY2017 | ¥1.6B | ¥453.5M |
Net income by year
Bottom line
| Fiscal year | GDS | SOGP |
|---|---|---|
| FY2025 | ¥949.6M | ¥220.6M |
| FY2024 | ¥3.4B | ¥-81.0M |
| FY2023 | ¥-4.3B | ¥-134.5M |
| FY2022 | ¥-1.3B | ¥86.5M |
| FY2021 | ¥-1.2B | ¥-127.2M |
| FY2020 | ¥-666.4M | ¥-82.2M |
| FY2019 | ¥-442.1M | ¥-133.0M |
| FY2018 | ¥-430.3M | ¥-9.3M |
| FY2017 | ¥-326.9M | ¥-153.7M |
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