Company: GDHLF
Filing Date: 2025-05-27
Form Type: 424B5
Source: 0001104659-25-053057
Chunk: 41

Company: GDS Holdings Ltd
Filing Date: 2025-05-27
Form: 424B5
Chunk 41
---
.1% | ​ | ​ |

(1) Gross profit as a percentage of net revenue. (2) Income (loss) from continuing operations as a percentage of net revenue. (3) Net (loss) income as a percentage of net revenue.

S-13

TABLE OF CONTENTS

Non-GAAP Measures In evaluating our business, we consider and use the following non-GAAP measures as supplemental measures to review and assess our operating performance:

| ​                                     
 ​                                     | ​ 
 ​ | ​ 
 ​ | Year Ended December 31,              
 2022                                 |   |           |   | ​ | ​ | 2023 |   |           |   | ​ | ​ | 2024 |   |           |   |   |   |     |   |         |   | ​ 
 ​ | ​ 
 ​ | Three Months Ended March 31, 
 2024                         |   |           |   | ​ | ​ | 2025 |   |           |   |   |   |     |   |         |   | ​ 
 ​ |
|:--------------------------------------|:--|:--|:-------------------------------------|:--|----------:|:--|:--|:--|:-----|:--|----------:|:--|:--|:--|:-----|:--|----------:|:--|:--|:--|:----|:--|--------:|:--|:--|:--|:-----------------------------|:--|----------:|:--|:--|:--|:-----|:--|----------:|:--|:--|:--|:----|:--|--------:|:--|:--|
| ​                                     | ​ | ​ | RMB                                  |   |           |   | ​ | ​ | RMB  |   |           |   | ​ | ​ | RMB  |   |           |   | ​ | ​ | US$ |   |         |   | ​ | ​ | RMB                          |   |           |   | ​ | ​ | RMB  |   |           |   | ​ | ​ | US$ |   |         |   | ​ |
| ​                                     | ​ | ​ | -in thousands, except for percentage |   |           |   |   |   |      |   |           |   |   |   |      |   |           |   |   |   |     |