Company: GDHLF
Filing Date: 2025-05-27
Form Type: 424B5
Source: 0001104659-25-053057
Chunk: 16

Company: GDS Holdings Ltd
Filing Date: 2025-05-27
Form: 424B5
Chunk 16
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 States;

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“U.S. Securities Act” are to the United States Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder;

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“US$” or “U.S. dollars” are to the legal currency of the United States;

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“utilization rate” are to the ratio of area utilized to area in service;

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“variable interest entities,” “VIE” or “VIEs” are to the variable interest entities that are 100% owned by PRC citizens or by PRC entities owned by PRC citizens, where applicable, that hold the VATS licenses, or other business operation licenses or approvals, in which foreign investment is restricted or prohibited, and are consolidated into our consolidated financial statements in accordance with U.S. GAAP as if they were our wholly-owned subsidiaries;

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“VAT” are to value-added tax; all amounts are exclusive of VAT in this prospectus supplement except where indicated otherwise;

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“VATS” are to value-added telecommunications services;

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“VIE structure” or “Contractual Arrangements with Affiliated Consolidated Entities” or “contractual arrangements with the consolidated VIEs” are to the variable interest entity structure; and

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“WFOE(s)” are to wholly foreign owned enterprise(s) incorporated in the PRC which is/are directly or indirectly wholly owned by our company.

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Unless specifically indicated otherwise or unless the context otherwise requires, all references to our ordinary shares exclude Class A ordinary shares issuable upon (i) conversion of the convertible senior notes in the concurrent offering, (ii) conversion of our existing convertible notes and (iii) conversion of our convertible preferred shares.

Substantially all of our operations are conducted in China and substantially all of our net revenue is denominated in Renminbi. Unless otherwise stated in this prospectus supplement, all translations from Renminbi to U.S. dollars and from U.S. dollars to Renminbi in this offering memorandum were made at a rate of RMB7.2567 to US$1.00, the exchange rates set forth in the H.10 statistical release of the Federal Reserve Board on March 31, 2025. We make no representation that the Renminbi or U.S. dollar amounts referred to in this prospectus supplement could have been or could be converted into U.S. dollars or Renminbi, as the case may be, at any