Company: GDHLF
Filing Date: 2025-05-29
Form Type: 424B5
Source: 0001104659-25-053912
Chunk: 23

Company: GDS Holdings Ltd
Filing Date: 2025-05-29
Form: 424B5
Chunk 23
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 of 95.5%, 92.5%, 91.9% and 90.9% as of December 31, 2022, 2023, 2024 and March 31, 2025, respectively. We had utilization rates for our area in service of 71.8%, 73.9%, 73.8% and 75.7% as of December 31, 2022, 2023, 2024 and March 31, 2025, respectively. The difference between commitment rate and utilization rate is primarily attributable to customers who have entered into agreements but have not yet started to use revenue-generating services.

Our net revenue grew from RMB9,268.1 million in 2022 to RMB9,782.4 million in 2023, representing an increase of 5.5%, and increased to RMB10,322.1 million (US$1,422.4 million) in 2024, representing an increase of 5.5%. Our net revenue was RMB2,723.2 million (US$375.3 million) for the three months ended March 31, 2025. Our net loss increased from RMB1,266.1 million in 2022 to RMB4,285.4 million in 2023. Our net income was RMB3,303.8 million (US$455.3 million) in 2024 and RMB764.1 million (US$105.3 million) for the three months ended March 31, 2025, including gain on deconsolidation of subsidiaries. Our adjusted EBITDA increased from RMB4,333.7 million in 2022 to RMB4,733.0 million in 2023, and increased to RMB4,876.4 million (US$672.0 million) in 2024. Our adjusted EBITDA was RMB1,323.8 million (US$182.4 million) for the three months ended March 31, 2025. As of December 31, 2022, 2023, 2024 and March 31, 2025, our accumulated deficit was RMB5,179.7 million, RMB9,469.8 million, RMB6,044.4 million (US$832.9 million) and RMB5,281.4 million (US$727.8 million