How are GDS (GDS) American Depositary Shares related to Class A ordinary shares?

Each GDS Holdings Ltd American Depositary Share (ADS) represents eight Class A ordinary shares. This means the ADS position is economically equivalent to a larger number of underlying Class A shares, even though the filing presents the ADSs and ordinary shares as separate holdings.

GDS director Lim Ah Doo files initial holdings

Q: What does Lim Ah Doo report owning in GDS (ticker GDS) on this Form 3?

Lim Ah Doo reports direct beneficial ownership of 1,687,647 Class A ordinary shares and 73,580 American Depositary Shares (ADSs) of GDS Holdings Ltd. This Form 3 serves as an initial disclosure of these existing holdings as a company director.

Q: Does this GDS Form 3 show any recent buying or selling by Lim Ah Doo?

The Form 3 lists holdings only and shows no reported buy or sell transactions. It functions as an initial statement of beneficial ownership for a director, rather than a record of new trades in GDS securities on the reported date.

Q: Are Lim Ah Doo’s GDS holdings reported as direct or indirect ownership?

The holdings in both Class A ordinary shares and American Depositary Shares are reported as direct ownership. The filing does not attribute these securities to any trust, partnership, or other indirect entity in the ownership description.

GDS Holdings Ltd director Lim Ah Doo has filed an initial statement of beneficial ownership.

Accepted by SEC EDGAR 03/17/2026 - 04:26 PM EDT

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

Rhea-AI Filing Summary

GDS Holdings Ltd director Lim Ah Doo has filed an initial statement of beneficial ownership. The filing reports direct holdings of 1,687,647 Class A ordinary shares and 73,580 American Depositary Shares (ADSs). Each ADS represents eight Class A ordinary shares, and the total includes ADSs received upon settlement of fully vested restricted stock units that had time and performance conditions fully satisfied.

Insider Trade Summary

Holdings reported, no transactions

Holdings

Insider LIM AH DOO

Role Director

Type	Security	Shares	Price	Value
Holding	Class A ordinary shares	--	--	--
Holding	American Depositary Shares	--	--	--

Holdings: Class A ordinary shares — 1,687,647 shares (Direct); American Depositary Shares — 73,580 shares (Direct)

Footnotes (2)

F1. Each American Depositary Share ("ADS") represents eight (8) Class A ordinary shares.
F2. Total number includes settlement of fully vested Restricted Stock Unit ("RSU") awards that were subject to time and performance conditions that have been fully satisfied and which settle into ADSs. Each RSU represents the right to receive one (1) ADS.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Lim Ah Doo report owning in GDS (ticker GDS) on this Form 3?

Lim Ah Doo reports direct beneficial ownership of 1,687,647 Class A ordinary shares and 73,580 American Depositary Shares (ADSs) of GDS Holdings Ltd. This Form 3 serves as an initial disclosure of these existing holdings as a company director.

What is the role of restricted stock units (RSUs) in Lim Ah Doo’s GDS holdings?

The total GDS holdings include ADSs received from settlement of fully vested restricted stock unit (RSU) awards. These RSUs had time and performance conditions that were fully satisfied, and each RSU converts into one ADS upon settlement, increasing the reported ADS position.

Does this GDS Form 3 show any recent buying or selling by Lim Ah Doo?

The Form 3 lists holdings only and shows no reported buy or sell transactions. It functions as an initial statement of beneficial ownership for a director, rather than a record of new trades in GDS securities on the reported date.

Are Lim Ah Doo’s GDS holdings reported as direct or indirect ownership?

The holdings in both Class A ordinary shares and American Depositary Shares are reported as direct ownership. The filing does not attribute these securities to any trust, partnership, or other indirect entity in the ownership description.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Understanding Insider Trading Forms →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

LIM AH DOO

(Last)

(First)

(Middle)

C/O F4/F5, BUILDING C, SUNLAND INTL

NO. 999 ZHOUHAI ROAD, PUDONG

(Street)

SHANGHAI

200137

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/17/2026

3. Issuer Name and Ticker or Trading Symbol
GDS Holdings Ltd [ GDS ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A ordinary shares	1,687,647	D
American Depositary Shares⁽¹⁾	73,580⁽²⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)

Explanation of Responses:

1. Each American Depositary Share ("ADS") represents eight (8) Class A ordinary shares.

2. Total number includes settlement of fully vested Restricted Stock Unit ("RSU") awards that were subject to time and performance conditions that have been fully satisfied and which settle into ADSs. Each RSU represents the right to receive one (1) ADS.

	/s/ Lim Ah Doo	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR