Company: GDHLF
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001410578-25-000935
Chunk: 259

Company: GDS Holdings Ltd
Filing Date: 2025-04-28
Form: 20-F
Item: Item 5
Chunk 259
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 area under construction.

Area utilized: that part of our area in service that is committed to customers and revenue generating pursuant to the terms of customer agreements remaining in effect.

Utilization rate: the ratio of area utilized to area in service.

Table of Contents

The following table sets forth our key performance indicators for our data center portfolio as of December 31, 2022, 2023 and 2024.

                               As of December 31,                                                       
  (Sqm, %)                                   2022                  2023                  2024           
 ────────────────────────────────────────────────────────────────────────────────────────────────────────
  Area in service                         514,642               548,352               613,583           
  Area under construction                 152,279               151,602               102,691           
  Area committed                          491,687      (1)      507,108      (1)      564,139      (1)  
  Area pre-committed                      106,613      (1)      111,834      (1)       65,858      (1)  
  Total area committed                    598,300      (1)      618,942      (1)      629,997      (1)  
  Commitment rate                            95.5      %           92.5      %           91.9      %    
  Pre-commitment rate                        70.0      %           73.8      %           64.1      %    
  Area utilized                           369,513               405,302               453,094           
  Utilization rate                           71.8      %           73.9      %           73.8      %    

  (1)      Includes data center area for which we have entered into non-binding agreements or letters of intent with, or have received other confirmations from, certain customers.  

Components of Results of Operations

The following table sets forth our net revenue, cost of revenue and gross profit, both in an absolute amount and as a percentage of net revenue, for the years indicated.

                                         Year Ended December 31,                                                                                               
                                                            2022                           2023                           2024                                 
                                                                      % of Net                       % of Net                                        % of Net  
                                                             RMB       Revenue              RMB       Revenue              RMB              US$       Revenue  
                          (in thousands, except for percentages)                                                                                               
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