Company: GDHLF
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001410578-25-000935
Chunk: 10

Company: GDS Holdings Ltd
Filing Date: 2025-04-28
Form: 20-F
Item: Item 3
Chunk 10
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 relevant headings. These risks are discussed more fully in “ Item 3. Key Information - D. Risk Factors.”

Risks Relating to Our Business and Industry

  A slowdown in the demand for data center capacity or managed services could have a material adverse effect on us;  

  Our business is increasingly exposed to risks arising from the rapid development and adoption of artificial intelligence technologies, including uncertainties in infrastructure demands, investm...  

  Any inability to manage the growth of our operations could disrupt our business and reduce our profitability;  

  If we are not successful in expanding our service offerings, we may not achieve our financial goals and our results of operations may be adversely affected;  
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  Our business requires us to make significant capital expenditures and resource commitments prior to recognizing revenue for those services;  

  The data center business is capital-intensive, and we expect our capacity to generate capital in the short term will be insufficient to meet our anticipated capital requirements;  

  Our substantial level of indebtedness could adversely affect our ability to raise additional capital to fund our operations, expose us to interest rate risk to the extent of our variable rate d...  

  Our net revenue is highly dependent on a limited number of customers, and the loss of, or any significant decrease in business from, any one or more of our major customers or from any major con...  

  Our customer agreement commitments are subject to reduction, potential cancellation and non-renewal upon expiry; if renewed, the renewal may be at lower pricing terms or for a lower commitment ...  
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  We face significant risks associated with our minority equity investment in DayOne, our former consolidated subsidiary and current equity investee company, including lack of control, limited vi...  

  We may be unable to maintain current pricing levels for our data center services in China, and a continued or accelerated decline in market prices could materially and adversely affect our reve...  
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Table of Contents

Risks Related to Our Corporate Structure

  If the PRC government deems that the contractual arrangements in relation to the consolidated VIEs do not comply with PRC regulatory restrictions on foreign investment in the relevant industrie...