Company: GDHLF
Filing Date: 2025-05-27
Form Type: 424B5
Source: 0001104659-25-053057
Chunk: 42

Company: GDS Holdings Ltd
Filing Date: 2025-05-27
Form: 424B5
Chunk 42
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 ​                            | ​ | 1,270,130 | ​ | ​ | ​ | ​    | ​ | 1,455,422 | ​ | ​ | ​ | ​   | ​ | 200,562 | ​ | ​ |
| Adjusted gross profit margin(4)       | ​ | ​ | ​                                    | ​ |     51.7% | ​ | ​ | ​ | ​    | ​ |     52.0% | ​ | ​ | ​ | ​    | ​ |     51.5% | ​ | ​ | ​ | ​   | ​ |   51.5% | ​ | ​ | ​ | ​                            | ​ |     52.2% | ​ | ​ | ​ | ​    | ​ |     53.4% | ​ | ​ | ​ | ​   | ​ |   53.4% | ​ | ​ |

(1) Adjusted EBITDA is defined as net income or net loss (computed in accordance with GAAP) excluding income (loss) from discontinued operations, net interest expenses, income tax expenses (benefits), depreciation and amortization, operating lease cost relating to prepaid land use rights, accretion expenses for asset retirement costs, share-based compensation expenses, gain on deconsolidation of subsidiaries, share of results of equity method investees, gain from purchase price adjustment and impairment losses of long-lived assets. (2) Adjusted EBITDA margin is defined as adjusted EBITDA as a percentage of net revenue. (3) Adjusted gross profit is defined as gross profit (computed in accordance with U.S. GAAP), excluding depreciation and amortization, operating lease cost relating to prepaid land use rights, accretion expenses for asset retirement costs and share-based compensation expenses allocated to cost of revenue. (4) Adjusted gross profit margin is defined as adjusted gross profit as a percentage of net revenue. Our management and board of directors use adjusted EBITDA, adjusted EBITDA margin, adjusted gross profit, and adjusted gross profit margin, which are non-GAAP financial measures, to evaluate our operating performance, establish budgets and develop operational goals for managing our business. We believe that the exclusion of the income and expenses eliminated in calculating adjusted EBITDA and adjusted gross profit can provide useful supplemental measures of our core operating performance. In particular, we believe that the use of adjusted EBITDA as a supplemental performance measure captures the trend in our operating performance by excluding from our operating results the