Company: GDHLF
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001410578-25-000935
Chunk: 300

Company: GDS Holdings Ltd
Filing Date: 2025-04-28
Form: 20-F
Item: Item 5
Chunk 300
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Refer to loans for which the use of proceeds is for working capital and general corporate purposes.

(3)Drawdown amount does not deduct debt issuance costs of RMB66.9 million (US$9.2 million) in total.

Table of Contents

The following table sets forth our short-term and long-term borrowings as of December 31, 2024:

                                                            Payment due by period                                                 
                                                            Less than                                                More than 5  
                                 Total                      1 year                     1-3 years      3-5 years      years        
                                 (in thousands of RMB)                                                                            
  Short-term borrowings (1)      1,797,680                  1,797,680                  —              —              —            
  Long-term borrowings (1)       24,204,090                 2,553,220                  6,050,996      5,468,535      10,131,339   

  (1)      Refers to loans from financial institutions for data center project financing, working capital and general corporate purposes. Does not include interests or debt issuance costs.  

C. Research and Development, Patents and Licenses, etc.

Sourcing and Development

See “ Item 4. Information on the Company - B. Business Overview - Data Center Sourcing and Development.”

Intellectual Property

See “ Item 4. Information on the Company - B. Business Overview - Innovation, Technology and Intellectual Property.”

D. Trend Information

Please refer to “ - A. Results of Operations” for a discussion of the most recent trends in our services, sales and marketing by the end of 2024. In addition, please refer to discussions included in such Item for a discussion of known trends, uncertainties, demands, commitments or events that we believe are reasonably likely to have a material effect on our net sales and operating revenues, income from continuing operations, profitability, liquidity or capital resources, or that would cause reported financial information to be not necessarily indicative of our future operating results or financial condition.

E. Critical Accounting Policies and Estimates

We prepare our financial statements in conformity with U. S. GAAP, which requires us to make judgments, estimates and assumptions. We continually evaluate these estimates and assumptions based on the most recently available information, our own historical experience and various other assumptions that we believe to be reasonable under the circumstances. Since the use of estimates is an integral component of the financial reporting process, actual results could differ from our expectations as a result of changes in our estimates