Company: GDHLF
Filing Date: 2025-05-29
Form Type: 424B5
Source: 0001104659-25-053912
Chunk: 111

Company: GDS Holdings Ltd
Filing Date: 2025-05-29
Form: 424B5
Chunk 111
---
 holders of such class.

#### Amendment of Governing Documents.
Under the Delaware General Corporation Law, a corporation’s governing documents may be amended with the approval of a majority of the outstanding shares entitled to vote, unless the certificate of incorporation

<div align='center'>S-56</div>

TABLE OF CONTENTS

provides otherwise. As permitted by Cayman Islands law, our Memorandum and Articles of Association may only be amended by special resolution.

#### Rights of Non-Resident or Foreign Shareholders.
There are no limitations imposed by our Memorandum and Articles of Association on the rights of non-resident or foreign shareholders to hold or exercise voting rights on our shares. In addition, there are no provisions in our Memorandum and Articles of Association governing the ownership threshold above which shareholder ownership must be disclosed.

#### Directors’ Power to Issue Shares.
Subject to applicable law, our board of directors is empowered to issue or allot shares or grant options and warrants with or without preferred, deferred, qualified or other special rights or restrictions.

<div align='center'>S-57</div>

TABLE OF CONTENTS

UNDERWRITING (CONFLICTS OF INTEREST) The Borrowed ADSs being offered under this prospectus supplement and the accompanying prospectus are ADSs that we have agreed pursuant to the ADS Lending Agreement to loan to J.P. Morgan Securities plc (the “ADS Borrower”), an affiliate of J.P. Morgan Securities LLC, which is acting as the underwriter in this offering (the “Borrowed ADS Underwriter”). We have entered into an underwriting agreement with the Borrowed ADS Underwriter and the ADS Borrower, with respect to this offering of the Borrowed ADSs by the ADS Borrower as listed below.

| Underwriter                | ​ | ​ | Number of BorrowedADSs offered |   |           |   | ​ |
| J.P. Morgan Securities LLC | ​ | ​ | ​                              | ​ | 6,000,000 | ​ | ​ |
| Total                      | ​ | ​ | ​                              | ​ | 6,000,000 | ​ | ​ |

The Borrowed ADSs will initially be offered at US$24.50 per ADS, which we refer to as the Delta Placement of Borrowed ADSs. The Borrowed ADSs will be offered through the Borrowed ADS Underwriter, either directly or indirectly through its U.S. broker-dealer affiliates, or such other registered dealers as may be designated by the Borrowed ADS Underwriter, and these dealers may