Company: GDHLF
Filing Date: 2025-05-27
Form Type: 424B5
Source: 0001104659-25-053058
Chunk: 47

Company: GDS Holdings Ltd
Filing Date: 2025-05-27
Form: 424B5
Chunk 47
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 | ​ | ​                 | ​ |   66.9% | ​ | ​ | ​ | ​                      | ​ |   65.1% | ​ | ​ | ​ | ​                     | ​ |   64.1% | ​ | ​ | ​ | ​                  | ​ |   71.6% | ​ | ​ |
| Area utilized           | ​ | ​ | ​                  | ​ | 375,598 | ​ | ​ | ​ | ​                 | ​ | 380,978 | ​ | ​ | ​ | ​                      | ​ | 393,225 | ​ | ​ | ​ | ​                     | ​ | 405,302 | ​ | ​ | ​ | ​                  | ​ | 403,609 | ​ | ​ | ​ | ​                 | ​ | 419,976 | ​ | ​ | ​ | ​                      | ​ | 438,654 | ​ | ​ | ​ | ​                     | ​ | 453,094 | ​ | ​ | ​ | ​                  | ​ | 462,423 | ​ | ​ |
| Utilization rate        | ​ | ​ | ​                  | ​ |   72.6% | ​ | ​ | ​ | ​                 | ​ |   72.1% | ​ | ​ | ​ | ​                      | ​ |   72.7% | ​ | ​ | ​ | ​                     | ​ |   73.9% | ​ | ​ | ​ | ​                  | ​ |   73.5% | ​ | ​ | ​ | ​                 | ​ |   72.4% | ​ | ​ | ​ | ​                      | ​ |   73.6% | ​ | ​ | ​ | ​                     | ​ |   73.8% | ​ | ​ | ​ | ​                  | ​ |   75.7% | ​ | ​ |

S-15

TABLE OF CONTENTS

### THE OFFERING

#### Issuer
GDS Holdings Limited, an exempted company incorporated under the laws of the Cayman Islands.

#### Offering price
US$ per ADS.

#### ADSs offered by us
5,200,000 ADSs (or 5,980,000 ADSs if the underwriters’ option to purchase additional ADSs is exercised in full). We will receive all of the net proceeds from this offering.

#### ADSs outstanding immediately after this offering
ADSs (or ADSs if the underwriters’