On February 27, Hong Kong-listed company GD-HKGBA HLDGS (01396) was officially included as a constituent of the MSCI China Small Cap Index, drawing significant attention in international capital markets. This follows the announcement of quarterly index review results by global index provider MSCI Inc on February 11, with GD-HKGBA HLDGS's inclusion being a highlight. The move represents strong recognition of the company's corporate governance, market liquidity, and investment value, as well as a positive response to its successful transition from traditional industries to a dual-driver model of "infrastructure plus AI computing." The MSCI indices are among the world's most influential equity index systems, used as benchmarks by passive and active funds managing over a trillion dollars. Inclusion means a company automatically enters the view of global allocation funds, attracting increased holdings from ETFs and international institutional investors that track the index. For emerging market companies, this serves not only as a catalyst for improved liquidity but also as an "international certification" of transparency, governance standards, and long-term value. More importantly, inclusion in the MSCI index directly triggers substantial demand from passive funds. According to the latest strategy report from Goldman Sachs, the February adjustment alone is expected to bring approximately $1.4 billion in net passive inflows to Chinese stocks, ranking first globally. For GD-HKGBA HLDGS, the inclusion comes at a critical juncture in its strategic repositioning. Over the past year, management has executed a series of moves into AI and computing, achieving what can be described as a textbook strategic breakthrough. The first step involved strategic repositioning through precise acquisitions. In October 2025, GD-HKGBA HLDGS fully acquired Tiandun Data, a top-tier intelligent computing infrastructure operator in China, for HK$977 million. This key acquisition marked a fundamental shift in the company's business logic: transitioning from a "physical space builder" to a "digital ecosystem operator." The second step focused on ecosystem building with state capital support. The transformation quickly gained recognition. In January 2026, a state-owned capital operating platform in Shenzhen's Futian District invested 800 million yuan in Tiandun Data, acquiring a 40% stake. The entry of state capital not only provided crucial funding but also signaled that the company's transformation direction is highly aligned with the national digital economy development strategy, granting strong credit endorsement and resource synergy advantages. Looking ahead, inclusion in the MSCI Small Cap Index is not only a capital market positive but also a breakthrough in narrative. Amid intensifying global AI competition, international capital markets are actively seeking Chinese players with genuine computing implementation capabilities. With its "new AI computing infrastructure," GD-HKGBA HLDGS has successfully articulated a new story combining growth and certainty. The company's transformation can be seen as a microcosm of Chinese enterprises navigating cycles and embracing new productive forces. MSCI's "vote of confidence" is the best reward for this proactive and engaged spirit. Standing at a new starting point, GD-HKGBA HLDGS is evolving into a digital infrastructure pioneer with international vision, warranting continued attention.