Company: GDHLF
Filing Date: 2025-02-19
Form Type: SCHEDULE 13D/A
Source: 0000950170-25-022772
Chunk: 1

Company: GDS Holdings Ltd
Filing Date: 2025-02-19
Form: SCHEDULE 13D/A
Chunk 1
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0.25% Convertible Senior Notes due 2029. Percentages are based on 1,426,391,679 Class A Shares outstanding as of March 31, 2024, comprising 1,511,590,567 Class A Shares outstanding, less 85,198,888 Class A Shares held by JPMorgan Chase Bank, N.A., as depositary, which are reserved for future delivery upon exercise or vesting of share awards granted under the Issuer's share incentive plans, as set forth in the Issuer's 2023 Form 20-F. 43,590,336 Class B Shares were disclosed as outstanding as of March 31, 2024 in the Issuer's 2023 Form 20-F. On that basis, with respect to (i) the election of a simple majority of the Issuer's directors and (ii) any change to the Issuer's articles of association that would adversely affect the rights of the holders of Class B Shares, at general meetings of shareholders, each Class A Share is entitled to one vote per share, and each Class B Share is entitled to 20 votes per share, and accordingly, the Class A Shares deemed to be beneficially owned by the Reporting Persons as of February 19, 2025 represented approximately 21.3% of the aggregate voting power on such matters with Class A Shares and Class B Shares voting on a 1:20 basis. With respect to any other matters at general meetings of shareholders, each Class A Share is entitled to one vote, and each Class B Share is entitled to one vote, and accordingly, the Class A Shares deemed to be beneficially owned by the Reporting Persons as of February 19, 2025 represented approximately 33.2% of the aggregate voting power on such matters with Class A Shares and Class B Shares voting on a 1:1 basis.

| SCHEDULE 13D |

| Item 1.                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Security and Issuer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| (a)                                                                                                                                                                                                                                                                                                                                                                                                                                                         | Class A Ordinary Shares, par value $0.00005 per share                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| (b)                                                                                                                                                                                                                                                                                                                                                                                                                                                         | GDS Holdings Limited                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| (c)                                                                                                                                                                                                                                                                                                                                                                                                                                                         | F4/F5, Building C, Sunland International, No. 999 Zhouhai Road, Pudong, Shanghai,                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
 CHINA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
 , 200137.