SHANGHAI, China, June 26, 2025 — GDS Holdings Limited, a leading Chinese data center developer and operator (NASDAQ: GDS; HKEX: 9698), announced the CSRC and Shanghai Stock Exchange have greenlit the registration and launch of its China REIT IPO.

The transaction involves GDS selling its complete equity interest in a project company holding stable data center assets to a newly established C-REIT. The C-REIT will finance the acquisition through an IPO on the Shanghai Stock Exchange. GDS will subscribe for 20% of the C-REIT units, while institutional and retail investors will subscribe for the remaining 80%. Cornerstone institutional investors have already pre-placed 50% of the units, subject to lock-up periods of one to three years. The remaining 30% will be offered through an institutional bookbuilding process and a retail public offering.

According to the offering memorandum’s valuation report, the appraised value of the underlying data center assets to be acquired by the C-REIT is approximately RMB 1,933 million. The final offering price for the C-REIT units will be determined after the institutional bookbuilding, expected to conclude in about a week.

The transaction is expected to be finalized within the next few weeks, pending certain closing conditions.

About GDS Holdings Limited

GDS Holdings Limited (NASDAQ: GDS; HKEX: 9698) is a premier developer and operator of high-performance data centers in China. The Company’s facilities are strategically located in and around major economic centers where demand for high-performance data center services is concentrated. The Company’s data centers boast significant net floor area, high power capacity, density, and efficiency, and multiple redundancies across all critical systems. GDS operates as a carrier and cloud-neutral provider, enabling customers to access major telecommunications networks and leading PRC and global public clouds hosted in many of its facilities. The Company offers co-location services and a suite of value-added services, including managed hybrid cloud services through direct private connections to leading public clouds, managed network services, and, where necessary, the resale of public cloud services. With a 24-year track record, GDS has consistently met the requirements of some of the largest and most demanding customers for outsourced data center services in China. Its customer base primarily comprises hyperscale cloud service providers, large internet companies, financial institutions, telecommunications carriers, IT service providers, and large domestic private sector and multinational corporations. The Company also holds a non-controlling 35.6% equity interest in DayOne Data Centers Limited, which develops and operates data centers in international markets.

For investor and media inquiries, please contact:

GDS Holdings Limited
Laura Chen
Phone: +86 (21) 2029-2203
Email: ir@gds-services.com

Piacente Financial Communications
Ross Warner
Phone: +86 (10) 6508-0677
Email: GDS@tpg-ir.com

Brandi Piacente
Phone: +1 (212) 481-2050
Email: GDS@tpg-ir.com

GDS Holdings Limited

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