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20-F

Annual Report (Foreign)

GDS Holdings Limited GDHLF GDS

0001104659-26-051006

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Filed
Apr 29, 2026 12:00 AM ET
Period of report
Restated figures. One or more values in this filing restate previously reported amounts.

On SEC.gov

Financials in this filing

Metric Period Value
Shares Diluted FY 2025 · Dec 31, 2025 1.64B sh
Shares Diluted FY 2025 · Dec 31, 2024 1.48B sh
Shares Diluted FY 2025 · Dec 31, 2023 1.47B sh
Capex FY 2025 · Dec 31, 2025 ¥4.69B
Capex FY 2025 · Dec 31, 2024 ¥3.17B
Capex restated FY 2025 · Dec 31, 2023 ¥3.19B
Operating Cash Flow FY 2025 · Dec 31, 2025 ¥3.37B
Operating Cash Flow FY 2025 · Dec 31, 2024 ¥1.94B
Operating Cash Flow FY 2025 · Dec 31, 2023 ¥2.07B
Long Term Debt FY 2025 · Dec 31, 2025 ¥23.36B
Long Term Debt FY 2025 · Dec 31, 2024 ¥21.91B
Short Term Debt FY 2025 · Dec 31, 2025 ¥411.4M
Short Term Debt FY 2025 · Dec 31, 2024 ¥1.8B
Cash And Equivalents FY 2025 · Dec 31, 2025 ¥14.31B
Cash And Equivalents FY 2025 · Dec 31, 2024 ¥7.87B
Stockholders Equity FY 2025 · Dec 31, 2025 ¥25.78B
Stockholders Equity FY 2025 · Dec 31, 2024 ¥22.46B
Current Liabilities FY 2025 · Dec 31, 2025 ¥7.13B
Current Liabilities FY 2025 · Dec 31, 2024 ¥9.08B
Total Liabilities FY 2025 · Dec 31, 2025 ¥52.26B
Total Liabilities FY 2025 · Dec 31, 2024 ¥49.98B
Current Assets FY 2025 · Dec 31, 2025 ¥18.55B
Current Assets FY 2025 · Dec 31, 2024 ¥11.61B
Total Assets FY 2025 · Dec 31, 2025 ¥80B
Total Assets FY 2025 · Dec 31, 2024 ¥73.65B
Eps Diluted FY 2025 · Dec 31, 2025 ¥0.55
Eps Diluted FY 2025 · Dec 31, 2024 ¥2.27
Eps Diluted FY 2025 · Dec 31, 2023 −¥2.96
Eps Basic FY 2025 · Dec 31, 2025 ¥0.59
Eps Basic FY 2025 · Dec 31, 2024 ¥2.27
Eps Basic FY 2025 · Dec 31, 2023 −¥2.96
Sga Expense FY 2025 · Dec 31, 2025 ¥897.87M
Sga Expense FY 2025 · Dec 31, 2024 ¥917.88M
Sga Expense restated FY 2025 · Dec 31, 2023 ¥965.98M
Rd Expense FY 2025 · Dec 31, 2025 ¥32.7M
Rd Expense FY 2025 · Dec 31, 2024 ¥36.32M
Rd Expense FY 2025 · Dec 31, 2023 ¥38.16M
Net Income FY 2025 · Dec 31, 2025 ¥949.64M
Net Income FY 2025 · Dec 31, 2024 ¥3.43B
Net Income FY 2025 · Dec 31, 2023 −¥4.29B
Operating Income FY 2025 · Dec 31, 2025 −¥55.75M
Operating Income FY 2025 · Dec 31, 2024 ¥1.15B
Operating Income restated FY 2025 · Dec 31, 2023 −¥2.21B
Gross Profit FY 2025 · Dec 31, 2025 ¥2.59B
Gross Profit FY 2025 · Dec 31, 2024 ¥2.22B
Gross Profit restated FY 2025 · Dec 31, 2023 ¥1.95B
Cost Of Revenue FY 2025 · Dec 31, 2025 ¥8.85B
Cost Of Revenue FY 2025 · Dec 31, 2024 ¥8.1B
Cost Of Revenue restated FY 2025 · Dec 31, 2023 ¥7.83B
Revenue FY 2025 · Dec 31, 2025 ¥11.43B
Revenue FY 2025 · Dec 31, 2024 ¥10.32B
Revenue restated FY 2025 · Dec 31, 2023 ¥9.78B