异动解读｜万国数据-SW盘中下跌5.05%，利润质量争议与芯片供给不确定性持续压制估值

行情直击06-25

6月25日，万国数据-SW盘中下跌5.05%，报29.72港元/股，成交额2791.54万港元，延续近期连续调整态势。

消息面上，公司一季度净利润26.52亿元中超八成源于DayOne股权操作带来的一次性投资收益，剔除非经常性损益后核心业务收入增速放缓至个位数，利润质量争议持续发酵。同时，管理层重申未来三年300亿至500亿元资本开支计划，叠加总负债516.93亿元的高杠杆格局及经营性现金流缩水，市场对财务压力担忧加剧。此外，产业调查显示公司出租率不及预期，AI芯片供给受限或制约AIDC产能释放节奏，同行业个股金山云同日下跌6.58%，板块整体承压。

（以上内容均基于市场公开消息，由程序或算法智能生成，仅作为股价异动提醒，不作为投资建议或交易依据。）

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

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