GDS Holdings LtdGDS
What GDS Holdings Ltd does.
We are a leading developer and operator of high-performance data centers in China. In addition, we also hold a minority equity interest in DayOne, our equity investee, which is a Singapore-headquartered data center platform. Accordingly, we derive shareholder value from our consolidated business in China and from our minority equity investment in DayOne.
Our facilities in mainland China are strategically located across low-latency established markets and big clusters in new growth markets where demand for high-performance data center services is concentrated. Our data centers are designed and configured as high-performance data centers with large net floor area and power capacity, high power density and efficiency, and multiple redundancy across all critical systems. We are carrier and cloud neutral, which enables our customers to access all the major telecommunications networks, as well as the largest PRC and global public clouds which we host in many of our facilities.
We have a 25-year track record of service delivery, successfully fulfilling the requirements of some of the largest and most demanding customers for outsourced data center services. As of December 31, 2025, we had an aggregate net floor area of 668,283 sqm in service, 93.0% of which was committed by customers, and an aggregate net floor area of 73,994 sqm under construction, 66.1% of which was pre-committed by customers.
Revenue and profit, by fiscal year.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $5.7B | $7.8B | $9.3B | $9.8B | $10.3B | $11.4B |
| Net income | -$666.4M | -$1.2B | -$1.3B | -$4.3B | $3.4B | $949.6M |
| Free cash flow | -$7.7B | -$8.5B | -$3.1B | -$1.1B | -$1.2B | -$1.3B |
More on GDS.
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Figures from GDS Holdings Ltd's filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.