Company: GDHLF
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001410578-25-000935
Chunk: 260

Company: GDS Holdings Ltd
Filing Date: 2025-04-28
Form: 20-F
Item: Item 5
Chunk 260
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  Net revenue                                                                                                                                                  
  Service revenue                                      9,260,361          99.9        9,781,884         100.0       10,321,888        1,414,093         100.0  
  IT equipment sales                                       7,740           0.1              564           0.0              180               25           0.0  
  Total                                                9,268,101         100.0        9,782,448         100.0       10,322,068        1,414,118         100.0  
  Cost of revenue                                    (7,316,603)        (78.9)      (7,831,222)        (80.1)      (8,099,439)      (1,109,619)        (78.5)  
  Gross profit                                         1,951,498          21.1        1,951,226          19.9        2,222,629          304,499          21.5  

Net Revenue

We derive net revenue primarily from colocation services and, to a lesser extent, managed services, including managed hosting and managed cloud services. In addition, from time to time, we also sell IT equipment on a stand-alone basis or bundled in a managed service agreement to customers and provide consulting services. Substantially all of our service revenue is recognized on a recurring basis.

Our colocation services primarily comprise the provision of space, power and cooling to our customers for housing servers and related IT equipment. Our customers have several choices for hosting their networking, server and storage equipment. They can place the equipment in a shared or private space that can be customized to their requirements. We offer power options customized to a customer’s individual power requirement.

Our managed services include managed hosting and managed cloud services. Our managed hosting services comprise a broad range of value-added services, covering each layer of the data center IT value chain. Our suite of managed hosting services includes technical services, network management services, data storage services, system security services, database services and server middleware services. Our suite of managed cloud services includes direct private connection to leading public clouds, an innovative service platform for managing hybrid cloud.

Our customer agreements have either a variable consideration or a fixed consideration.

Table of Contents

Sales agreements with cloud service provider and large