Company: GDHLF
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001410578-25-000935
Chunk: 342

Company: GDS Holdings Ltd
Filing Date: 2025-04-28
Form: 20-F
Item: Item 7
Chunk 342
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ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

A. Major Shareholders

See “ Item 6. Directors, Senior Management and Employees - E. Share Ownership.”

B. Related Party Transactions

Transactions with Our Shareholders

DayOne Data Centers Singapore Pte. Ltd. (formerly known as GDS IDC Services Pte. Ltd.), or DayOne Singapore, is wholly owned by DayOne, which was the holding company of our consolidated subsidiaries and the consolidated affiliated entities conducting international business and operation outside mainland China. Following the closing of DayOne’s Series B equity financing on December 31, 2024, we own approximately 35.6% of the equity interest of DayOne in the form of ordinary shares on an as - converted basis, and therefore deconsolidated DayOne as a subsidiary and recognized DayOne as an equity investee.

In December 2018, DayOne Singapore entered into a master service agreement with STT Singapore DC Pte. Ltd., STT DEFU 2 Pte. Ltd. and cloud service providers, pursuant to which DayOne Singapore will provide billing and payment collection services as well as other coordination and administration services. During the year ended December 31, 2022, we recognized agency commissions from STT Singapore DC Pte. Ltd. and STT DEFU 2 Pte. Ltd. of RMB0.6 million and RMB0.5 million, respectively. During the year ended December 31, 2023, we recognized agency commissions from STT Singapore DC Pte. Ltd. and STT DEFU 2 Pte. Ltd. of RMB0.6 million and RMB0.5 million, respectively. During the year ended December 31, 2024, we recognized agency commissions and marketing support fees from STT Singapore DC Pte. Ltd. and STT DEFU 2 Pte. Ltd. of RMB2.2 million (US$0.3 million) and RMB2.2 million (US$0.3 million), respectively.

Table of Contents

Transactions with Our Associate

On September 2, 2022, we subscribed convertible bonds of US$400 thousand issued by OnePro Cloud Inc, the entity over which we have significant influence. The convertible bond has a term of 12 months with interest rate of 8% per annum and is convertible into Series A Preferred Shares of OnePro Cloud Inc. at the option of holders under certain conditions.