Company: GDHLF
Filing Date: 2025-05-29
Form Type: 424B5
Source: 0001104659-25-053912
Chunk: 130

Company: GDS Holdings Ltd
Filing Date: 2025-05-29
Form: 424B5
Chunk 130
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 U.S. federal income tax considerations relating to the ownership and disposition of our ADSs and Class A ordinary shares. This discussion applies only to U.S. holders (as defined below) that acquire our ADSs pursuant to this offering and hold our ADSs or Class A ordinary shares (as applicable) as capital assets for U.S. federal income tax purposes (generally, property held for investment).

As used herein, the term “U.S. holder” means a beneficial owner of our ADSs or Class A ordinary shares that is, for U.S. federal income tax purposes, any of the following:

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an individual who is a citizen or resident of the United States;

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a corporation (or other entity treated as a corporation for U.S. federal income tax purposes) created or organized in or under the laws of the United States, any state thereof or the District of Columbia;

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an estate the income of which is subject to U.S. federal income taxation regardless of its source; or

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a trust if it (1) is subject to the primary supervision of a court within the United States and one or more U.S. persons have the authority to control all substantial decisions of the trust or (2) has a valid election in effect under applicable U.S. Treasury regulations to be treated as a U.S. person.

This discussion is based upon provisions of the United States Internal Revenue Code of 1986, as amended (the “Code”), U.S. Treasury regulations thereunder, rulings and administrative pronouncements of the Internal Revenue Service (the “IRS”), judicial decisions and the income tax treaty between the United States and the PRC (the “Treaty”), all as currently in effect as of the date hereof. Those authorities may be changed or subject to different interpretation, perhaps retroactively, so as to result in U.S. federal income tax consequences different from those summarized below. In addition, this discussion assumes that the deposit agreement, and all other related agreements, will be performed in accordance with their terms.

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This discussion does not represent a detailed description of the U.S. federal income tax consequences applicable to you if you are subject to special treatment under the U.S. federal income tax laws, including if you are:

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a dealer in securities or currencies;

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a financial institution;

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a regulated investment company;

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a real estate investment trust;

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an insurance company;

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a tax-exempt organization;

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a person holding our ADSs