Welcome to our dedicated page for Gds Holdings SEC filings (Ticker: GDS), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
GDS Holdings Limited filings document foreign-issuer reporting for a China-based developer and operator of high-performance data centers. Its Form 6-K reports and Form 20-F annual reports cover operating and financial results, annual reporting, board meeting announcements, and business descriptions for carrier- and cloud-neutral facilities serving cloud, internet, financial-services, telecommunications, IT-service, and enterprise customers.
The filing record also covers governance and capital structure, including extraordinary general meeting materials, shareholder voting by ordinary and preferred share classes, amended and restated articles of association, Class B ordinary-share voting rights, and terms for Series B convertible preferred shares.
GDS Holdings Ltd Chairman and CEO William Wei Huang reported changes in his American Depositary Share (ADS) holdings. He acquired 200,888 ADSs at no cost upon settlement of fully vested Restricted Stock Unit (RSU) awards after performance and time conditions were met. Following this transaction, he holds 200,888 ADSs directly and 318,671 ADSs indirectly through Solution Leisure Investment Limited. Each ADS represents eight Class A ordinary shares, so this filing mainly reflects equity compensation rather than an open‑market trade.
GDS Holdings Limited, a China-based developer and operator of high-performance data centers, has filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission.
The report is available on the company’s investor relations website and the SEC’s website. GDS will provide hard copies of the annual report free of charge to shareholders and ADS holders who request them by email.
GDS Holdings Limited filed its Form 20-F annual report, outlining a Cayman holding-company structure that operates China data centers mainly through variable interest entities due to foreign-ownership limits. Revenues from these VIEs and their subsidiaries contributed 97.0%, 96.1% and 97.5% of total revenues in 2023, 2024 and 2025.
The company highlights rising demand for high-performance data centers, especially for AI workloads, alongside heavy capital needs, substantial indebtedness and complex PRC regulation on VATS, data centers, energy use, carbon emissions and AI. Net revenue grew from RMB9,782.4 million in 2023 to RMB11,432.3 million in 2025, while total consolidated indebtedness reached RMB46,210.4 million as of December 31, 2025.
GDS Holdings Ltd director Baharudin Zulkifli Bin filed an initial ownership report on American Depositary Shares. He reports direct ownership of 89,150 ADSs. Each ADS represents eight Class A ordinary shares, and the total includes ADSs received from fully vested RSU awards that have satisfied all conditions.
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.
GDS Holdings Ltd director Sun Qiang Chang has filed an initial statement of beneficial ownership, reporting 57,170 American Depositary Shares (ADS) held directly. Each ADS represents eight Class A ordinary shares. The total includes fully vested RSU awards that have settled into ADSs, with each RSU delivering one ADS.
GDS Holdings Ltd director Sio Tat Hiang filed an initial ownership report showing existing holdings of the company’s American Depositary Shares (ADSs). He directly holds 205,208 ADSs and has indirect ownership of 4,000 ADSs held by his spouse. Each ADS represents eight Class A ordinary shares, and the totals include settlement of fully vested restricted stock units that have converted into ADSs.
GDS Holdings Ltd executive vice president of sales and service, Zhang Kejing, filed an initial ownership report showing direct holdings of 28,178 American Depositary Shares (ADSs). Each ADS represents eight Class A ordinary shares, and the total includes vested RSU awards that settled into ADSs on a one-to-one ADS basis.
GDS Holdings Limited reported solid growth for 2025, with net revenue of RMB11,432.3 million, up 10.8% year-over-year, and adjusted EBITDA of RMB5,403.5 million, also up 10.8% with a stable 47.3% margin. The company swung to net income of RMB959.4 million from a RMB770.9 million loss in 2024, mainly due to a RMB2,364.1 million gain on deconsolidation of subsidiaries and RMB715.9 million income from equity investees, partly offset by RMB1,561.2 million impairment losses on long-lived assets.
In the fourth quarter of 2025, net revenue rose 8.6% to RMB2,921.7 million and adjusted EBITDA increased 5.2% to RMB1,365.6 million, though adjusted EBITDA margin eased to 46.7% as utility costs rose. Cash reached RMB14,306.0 million as of December 31, 2025, alongside RMB3,648.9 million of short-term debt and RMB42,561.6 million of long-term debt.
GDS completed a US$385 million sale of DayOne shares, leaving a remaining stake implied at over US$2.2 billion, and raised US$300 million via Series B convertible preferred shares with a minimum 3.75% dividend and a US$54.43 per ADS conversion price. For 2026, it guides revenue to RMB12,400–12,900 million and adjusted EBITDA to RMB5,750–6,000 million, with expected capex of about RMB9,000 million.
GDS Holdings Ltd chief financial officer Daniel Antony Newman filed an initial ownership report showing his holdings of American Depositary Shares (ADSs). He reports 827,892 ADSs held directly and a further 200,000 ADSs held indirectly through Ofira Capital Limited, a British Virgin Islands company he beneficially owns. Each ADS represents eight Class A ordinary shares. The total includes settlement of fully vested restricted stock units that have met all time and performance conditions and settle into ADSs.