Company: GDHLF
Filing Date: 2025-05-27
Form Type: F-3ASR
Source: 0001104659-25-053030
Chunk: 6

Company: GDS Holdings Ltd
Filing Date: 2025-05-27
Form: F-3ASR
Chunk 6
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 HFCA Act, as amended, and any such trading prohibition on our ADSs or threat thereof may materially and adversely affect the price of our ADSs and value of your investment” in our 2024 Form 20-F.

GDS Holdings Limited is a holding company with no material operations of its own. As a result, although other means are available for us to obtain financing at the holding company level, our company’s ability to pay dividends to the shareholders and to service any debt it may incur may depend upon dividends paid by our subsidiaries. Under PRC laws and regulations, our subsidiaries and the VIEs and their subsidiaries incorporated in mainland China are subject to certain restrictions with respect to paying dividends or otherwise transferring any of their net assets to us. Remittance of dividends by a wholly foreign-owned enterprise out of mainland China is also subject to examination by the banks designated by the State Administration of Foreign Exchange of the PRC. In addition, under PRC laws, GDS Holdings Limited may provide funding to our mainland China subsidiaries only through capital contributions or intercompany loans, and to our VIEs and their subsidiaries only through intercompany loans, subject to satisfaction of applicable government registration and approval requirements. For a detailed description of how cash is transferred through our organization, see “Item 3. Key Information — Cash Flows through our Organization” in our 2024 Form 20-F.

This prospectus may not be used to offer or sell any securities unless accompanied by a prospectus supplement.

Neither the United States Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.**

<div align='center'>The date of this prospectus is May 27, 2025.</div>

TABLE OF CONTENTS

TABLE OF CONTENTS

| ​                                            | ​ | ​ | Page |   |    |   | ​ |
| ABOUT THIS PROSPECTUS                        | ​ | ​ | ​    | ​ |  1 | ​ | ​ |
| FORWARD-LOOKING STATEMENTS                   | ​ | ​ | ​    | ​ |  3 | ​ | ​ |
| OUR COMPANY                                  | ​ | ​ | ​    | ​ |  4 | ​ | ​ |
| CORPORATE INFORMATION                        | ​ | ​ | ​    | ​ |  6 | ​ | ​ |
| RISK FACTORS                                 | ​ | ​ | ​    | ​ |  7 | ​