Company: GDHLF
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001410578-25-000935
Chunk: 288

Company: GDS Holdings Ltd
Filing Date: 2025-04-28
Form: 20-F
Item: Item 5
Chunk 288
---
 offset by (iii) receipts of loan repayments from discontinued operations of RMB1,168.8 million (US$160.1 million), (iv) the proceeds from disposal of property and equipment of RMB203.9 million (US$27.9 million) and (v) proceeds from disposal of subsidiaries of RMB39.0 million (US$5.3 million).

Net cash used in investing activities from continuing operations was RMB4,515.6 million in 2023, which was primarily due to (i) the payments for purchase of property and equipment and land use rights of RMB3,194.0 million for the development of our data centers, (ii) payments for acquisitions and investments of RMB346.5 million and (iii) payments for investments and loans to discontinued operations of RMB1,017.3 million, partially offset by (iv) the proceeds from disposal of property and equipment of RMB18.6 million, and (v) proceeds from disposal of equity investments and subsidiaries of RMB23.6 million.

Table of Contents

Net cash used in investing activities from continuing operations was RMB10,533.1 million in 2022, which was primarily due to (i) the payments for purchase of property and equipment and land use rights of RMB5,866.5 million for the development of our data centers, (ii) payments for acquisitions and investments of RMB3,468.4 million and (iii) payments for investments and loans to discontinued operations of RMB1,239.0 million, partially offset by (iv) proceeds from sale of property and equipment of RMB43.6 million.

Net cash used in investing activities from discontinued operations was RMB1,980.8 million, RMB2,827.9 million and RMB6,920.2 million (US$948.1 million) in 2022, 2023 and 2024, respectively.

Financing Activities

Net cash provided by financing activities from continuing operations was RMB174.3 million (US$23.9 million) in 2024, which was primarily due to proceeds from borrowings of RMB6,655.9 million (US$911.9 million) and proceeds from other financing arrangements of RMB200.0 million (US$27.4 million), partially offset by repayment of borrowings of RMB6,062.8 million (US$825.7 million), payment under finance lease and other