GDS Holdings (GDS) chairman reports large indirect share stakes

Rhea-AI Filing Summary

GDS Holdings Ltd filed an initial ownership report for Chairman and CEO William Wei Huang. The filing shows indirect holdings of 28,000,000 Class B ordinary shares through EDC Group Limited and 15,590,336 Class B ordinary shares through GDS Enterprises Limited.

These Class B ordinary shares are convertible into Class A ordinary shares on a one-for-one basis at the holder’s election, and the conversion rights do not expire. Huang is also reported as indirectly holding 318,671 American Depositary Shares through Solution Leisure Investment Limited.

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

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1. Name and Address of Reporting Person^*

Huang William Wei

(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)
03/16/2026

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
X	Officer (give title below)		Other (specify below)
	Chairman and CEO

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)
American Depositary Shares(1)	318,671	I	By Solution Leisure Investment Limited

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)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class B ordinary shares	(1)	(1)	Class A ordinary shares	28,000,000	(1)	I	By EDC Group Limited
Class B ordinary shares	(1)	(1)	Class A ordinary shares	15,590,336	(1)	I	By GDS Enterprises Limited

Explanation of Responses:

1. Class B ordinary shares are convertible into Class A ordinary shares on a one-for-one basis at the election of the holder. These conversion rights do not expire.

	/s/ William Wei Huang	03/16/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What does William Wei Huang’s Form 3 filing for GDS show?

The Form 3 shows Chairman and CEO William Wei Huang’s initial indirect ownership in GDS. It reports large blocks of Class B ordinary shares held via affiliated entities and a separate indirect position in American Depositary Shares through Solution Leisure Investment Limited.

How many Class B shares of GDS are held through EDC Group Limited?

The filing reports 28,000,000 Class B ordinary shares held indirectly through EDC Group Limited. These Class B shares are convertible into Class A ordinary shares on a one-for-one basis at the election of the holder, with conversion rights that do not expire.

What is GDS chairman Huang’s ownership through GDS Enterprises Limited?

The report lists 15,590,336 Class B ordinary shares held indirectly through GDS Enterprises Limited. These shares carry the same one-for-one, non-expiring conversion right into Class A ordinary shares, indicating a significant additional indirect economic interest in GDS’s equity structure.

What American Depositary Shares are reported for GDS’s William Wei Huang?

The filing shows an indirect holding of 318,671 American Depositary Shares, held through Solution Leisure Investment Limited. This ADS position complements the larger Class B ordinary share interests reported through other entities, together outlining Huang’s overall indirect exposure to GDS equity.

Can GDS Class B ordinary shares in this filing be converted to Class A shares?

Yes. The footnote states that the Class B ordinary shares are convertible into Class A ordinary shares on a one-for-one basis. The holder can elect to convert, and the filing specifies these conversion rights do not expire, giving ongoing flexibility over share class composition.