Company: GDHLF
Filing Date: 2025-05-27
Form Type: 424B5
Source: 0001104659-25-053058
Chunk: 100

Company: GDS Holdings Ltd
Filing Date: 2025-05-27
Form: 424B5
Chunk 100
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 unless accompanied by a prospectus supplement.

Neither the United States Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.**

<div align='center'>The date of this prospectus is May 27, 2025.</div>

TABLE OF CONTENTS

TABLE OF CONTENTS

| ​                                            | ​ | ​ | Page |   |    |   | ​ |
| ABOUT THIS PROSPECTUS                        | ​ | ​ | ​    | ​ |  1 | ​ | ​ |
| FORWARD-LOOKING STATEMENTS                   | ​ | ​ | ​    | ​ |  3 | ​ | ​ |
| OUR COMPANY                                  | ​ | ​ | ​    | ​ |  4 | ​ | ​ |
| CORPORATE INFORMATION                        | ​ | ​ | ​    | ​ |  6 | ​ | ​ |
| RISK FACTORS                                 | ​ | ​ | ​    | ​ |  7 | ​ | ​ |
| USE OF PROCEEDS                              | ​ | ​ | ​    | ​ |  8 | ​ | ​ |
| DESCRIPTION OF SHARE CAPITAL                 | ​ | ​ | ​    | ​ |  9 | ​ | ​ |
| DESCRIPTION OF AMERICAN DEPOSITARY SHARES    | ​ | ​ | ​    | ​ | 19 | ​ | ​ |
| ENFORCEABILITY OF CIVIL LIABILITIES          | ​ | ​ | ​    | ​ | 32 | ​ | ​ |
| TAXATION                                     | ​ | ​ | ​    | ​ | 34 | ​ | ​ |
| SELLING SHAREHOLDERS                         | ​ | ​ | ​    | ​ | 35 | ​ | ​ |
| PLAN OF DISTRIBUTION                         | ​ | ​ | ​    | ​ | 36 | ​ | ​ |
| LEGAL MATTERS                                | ​ | ​ | ​    | ​ | 39 | ​ | ​ |
| EXPERTS                                      | ​ | ​ | ​    | ​ | 40 | ​ | ​ |
| WHERE YOU CAN FIND MORE INFORMATION ABOUT US | ​ | ​ | ​    | ​ | 41 | ​ | ​ |
| INCORPORATION OF DOCUMENTS BY REFERENCE      | ​ | ​ | ​    | ​ | 42 | ​ | ​ |

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TABLE OF CONTENTS

### ABOUT THIS PROSPECTUS