Core Viewpoint - The data center industry is characterized as a low-margin business with significant overcapacity, leading to intense price competition and challenges in maintaining profitability. Despite recent surges in stock prices driven by AI demand, the underlying supply-demand imbalance remains a critical concern for the industry [2][3][36]. Group 1: Industry Overview - The data center sector has experienced a prolonged downturn from late 2020 to mid-2024, with leading companies like Guanghui New Network and GDS Holdings facing severe valuation declines, with stock prices plummeting by as much as 95.71% [2][3]. - Despite a brief recovery in late 2023, driven by increased investment and stock price surges, the industry is now facing renewed declines as companies report disappointing earnings and high valuations [3][4]. Group 2: Supply and Demand Dynamics - The current supply-demand relationship in the data center market remains unfavorable, with supply significantly outpacing demand due to aggressive expansion during the pandemic and subsequent construction booms [5][6]. - Major players are engaged in price wars to secure contracts, with rental prices for data center space dropping dramatically, sometimes by over 50% in key markets [7][8]. Group 3: Challenges in the Industry - The industry faces multiple challenges, including stricter government regulations on new data center approvals and increased energy efficiency requirements, which complicate expansion efforts [17][18]. - Financing remains a significant hurdle, as data center companies rely heavily on bank loans, which have become increasingly difficult to secure due to perceived risks in the sector [22][23]. Group 4: Recent Stock Market Activity - Data center stocks have seen three significant price surges, primarily driven by AI-related demand and capital expenditures from major tech firms, with notable increases in stock prices for companies like GDS and Century Internet [25][26][30]. - The latest surge was fueled by announcements of substantial capital investments from major cloud providers, which raised expectations for future demand in the data center sector [32][34]. Group 5: Future Outlook - Despite recent stock price increases, the long-term outlook for the data center industry remains uncertain, with analysts suggesting that the current market enthusiasm may need to cool as fundamental supply-demand issues persist [36][37].

Group 1 - The core viewpoint of the article highlights the strong financial performance of GDS Holdings, with a significant increase in revenue and net profit for the fiscal year ending March 31, 2025 [1][2] - GDS reported total revenue of 2.723 billion RMB, representing a year-on-year growth of 11.96% [1] - The company's net profit attributable to shareholders reached 763 million RMB, showing a remarkable year-on-year increase of 320.64% [1] Group 2 - GDS Holdings is a leading high-performance data center operator and service provider in China and Southeast Asia, with data centers strategically located in key economic hubs [2] - The company offers a range of services including colocation and management services, with a focus on meeting the high standards of large domestic clients [2] - GDS operates with a neutral stance towards telecom operators and cloud service providers, allowing clients to connect freely with major telecom operators and access multiple cloud service providers [2]

Market Performance - The three major U.S. stock indices closed lower, with the Dow Jones down 0.25% at 42,319.74 points, the S&P 500 down 0.53% at 5,939.3 points, and the Nasdaq down 0.83% at 19,298.45 points [1] - Most large tech stocks declined, with Tesla dropping over 14%, Apple down more than 1%, Nvidia down over 1%, and Facebook down 0.48%. In contrast, Google rose 0.1%, Amazon increased 0.33%, and Microsoft gained 0.82% [1] Chinese Stocks - Most Chinese stocks saw gains, with Zhihu Group rising nearly 13%, Kingsoft Cloud up over 7%, Lotus Technology increasing over 5%, and GDS Holdings up over 4%. However, some stocks like Linklogis and Bawang Tea fell over 9% [1] European Indices - European major indices showed mixed results, with Germany's DAX index up 0.19% at 24,323.58 points, reaching a new historical high, while France's CAC40 index fell 0.18% to 7,790.27 points, and the UK's FTSE 100 index rose 0.11% to 8,811.04 points [1] Commodity Prices - International precious metal futures closed mixed, with COMEX gold futures down 0.68% at $3,376.1 per ounce, while COMEX silver futures rose 3.31% to $35.795 per ounce [1] - International oil prices increased across the board, with WTI crude oil main contract up 0.64% at $63.25 per barrel and Brent crude oil main contract up 0.66% at $65.29 per barrel [1] Currency and Bond Yields - The U.S. dollar index fell 0.07% to 98.74, while the offshore RMB against the U.S. dollar dropped 38.5 basis points to 7.1755 [1] - U.S. Treasury yields rose across the board, with the 2-year yield up 6.19 basis points to 3.924%, the 3-year yield up 6.82 basis points to 3.894%, the 5-year yield up 7.13 basis points to 3.995%, the 10-year yield up 3.93 basis points to 4.395%, and the 30-year yield up 0.61 basis points to 4.883% [1] - European bond yields also generally increased, with the UK 10-year yield up 1 basis point to 4.614%, France's 10-year yield up 4.7 basis points to 3.248%, Germany's 10-year yield up 5.2 basis points to 2.576%, Italy's 10-year yield up 3.5 basis points to 3.524%, and Spain's 10-year yield up 4 basis points to 3.155% [1]

Core Viewpoint - GDS Holdings Limited will hold its 2025 Annual General Meeting of Shareholders on June 26, 2025, in Shanghai, China, where shareholders will have the opportunity to vote on proposed resolutions [1]. Company Information - GDS Holdings Limited is a leading developer and operator of high-performance data centers in China, strategically located in primary economic hubs to meet the demand for data center services [6]. - The company offers a range of services including co-location, managed hybrid cloud services, and managed network services, catering primarily to hyperscale cloud service providers, large internet companies, and financial institutions [6]. - GDS has a 24-year track record in service delivery, fulfilling the requirements of major customers for outsourced data center services in China [6]. - The company holds a non-controlling 35.6% equity interest in DayOne Data Centers Limited, which operates data centers in international markets [6]. AGM Details - Shareholders of ordinary shares and Series A convertible preferred shares as of June 4, 2025, are entitled to vote at the AGM [2]. - Beneficial owners of American Depositary Shares (ADSs) must act through JPMorgan Chase Bank to exercise their voting rights [2]. - The Notice of the AGM, Proxy Statement, and Proxy Card are available on the company's Investor Relations website and other regulatory websites [3]. Financial Reporting - GDS has filed its annual report on Form 20-F for the fiscal year ended December 31, 2024, with the U.S. Securities and Exchange Commission [4]. - The company has also published its annual report for Hong Kong purposes, accessible on its website and the HKEX website [5].

萬國數據控股有限公司*（「本公司」）以不同投票權控制。股東及有意投資者務請留意 投資不同投票權架構公司的潛在風險，特別是不同投票權受益人的利益未必總與股東 整體利益一致，而不論其他股東如何投票，不同投票權受益人會對股東決議案的結果 有重大影響。我們的美國存託股（每股美國存託股代表八股A類普通股）於美國納斯達 克全球市場上市，股份代號為GDS。 GDS Holdings Limited 萬國數據控股有限公司 * （於開曼群島以GDS Holdings Limited的名稱註冊成立及以不同投票權控制的有限公司， 並以GDS WanGuo Holdings Limited於香港經營業務） （股份代號：9698） 年度股東大會使用的委託投票說明書╱通函 謹附上本公司股東將於2025年6月26日下午四時正（中國標準時間）舉行的年度股東 大會（「大會」）的委託投票說明書，其中載述將在大會上審議的事項。根據香港聯合 交易所有限公司證券上市規則第13.73條，該委託投票說明書亦將作為通函提供予 本公司普通股及A系列可轉換優先股持有人。該委託投票說明書亦可於本公司網站 http://www.gds-services.com 上 ...

（股份代號：9698） 年度股東大會通告 謹附上本公司年度股東大會（「大會」）通告，該通告為根據香港聯合交易所有限公 司證券上市規則第13.71條要求發出的年度股東大會通告。本通告亦於本公司網站 http://www.gds-services.com 上供公眾閱覽。大會將於2025年6月26日下午四時正（中 國標準時間）假座中國上海市浦東新區洲海路999號森蘭國際大廈C座5樓北京會議廳舉 行，以處理下列事項： 呈交本公司於2025年4月28日發佈的20-F表格年報及本公司香港年報中所載的本公司 截至2024年12月31日止年度的財務報表。 香港交易及結算所有限公司、香港聯合交易所有限公司（「香港聯交所」）及香港中央結 算有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明 確表示，概不就因本公告全部或任何部分內容所產生或因依賴該等內容而引致的任何 損失承擔任何責任。 萬國數據控股有限公司*（「本公司」）以不同投票權控制。股東及有意投資者務請留意 投資不同投票權架構公司的潛在風險，特別是不同投票權受益人的利益未必總與股東 整體利益一致，而不論其他股東如何投票，不同投票權受益人會對股東決議案的 ...

Group 1 - The core viewpoint of the article highlights the financial performance and market position of GDS Holdings, indicating a significant increase in revenue and net profit [1][2] - As of March 31, 2025, GDS reported total revenue of 2.723 billion RMB, representing a year-on-year growth of 11.96% [1] - The company achieved a net profit attributable to shareholders of 763 million RMB, showing a remarkable year-on-year increase of 320.64% [1] Group 2 - GDS Holdings is a leading high-performance data center operator and service provider in China and Southeast Asia, with data centers strategically located in key economic hubs [2] - The company operates large-scale data centers with abundant power supply, high density, and efficiency, ensuring all critical systems have multiple redundancies [2] - GDS is neutral to operators and cloud service providers, allowing clients to choose connections with major telecom operators and access multiple cloud service providers hosted in its data centers [2]

Core Viewpoint - The company has successfully completed the issuance of convertible senior notes totaling $550 million, maturing in 2032, with an additional $50 million exercised by initial purchasers [1] Group 1: Financial Details - The net proceeds from the bond issuance amount to approximately $535 million, which will be used for working capital needs and refinancing existing debt [1] - The bonds carry an annual interest rate of 2.25%, with interest payments scheduled semi-annually on June 1 and December 1 starting from December 1, 2025 [1] - The bonds are classified as senior unsecured obligations of the company [1] Group 2: Future Plans - The company plans to potentially repurchase or redeem its existing convertible bonds maturing in 2029 when investors exercise their put options [1] - The bonds will mature on June 1, 2032, unless redeemed, repurchased, or converted prior to that date according to their terms [1]

香港交易及結算所有限公司、香港聯合交易所有限公司（「香港聯交所」）及香港中央結算有限公 司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因 本公告全部或任何部分內容所產生或因依賴該等內容而引致的任何損失承擔任何責任。 萬國數據控股有限公司*（「本公司」）以不同投票權控制。股東及有意投資者務請留意投資不同 投票權架構公司的潛在風險，特別是不同投票權受益人的利益未必總與股東整體利益一致，而 不論其他股東如何投票，不同投票權受益人會對股東決議案的結果有重大影響。我們的美國存 託股（每股美國存託股代表八股A類普通股）於美國納斯達克全球市場上市，股份代號為GDS。 GDS Holdings Limited 萬國數據控股有限公司* （於開曼群島以GDS Holdings Limited的名稱註冊成立及以不同投票權控制的有限公司， 並以GDS WanGuo Holdings Limited於香港經營業務） （股份代號：9698） 內幕消息 完成發售550百萬美元可轉換優先債券及 與出借的美國存託股對沖配售及 發售的美國存託股相關的 發售美國存託股 悉數行使購買額外債券及額外原美國存託股 的選 ...

SHANGHAI, China, May 30, 2025 (GLOBE NEWSWIRE) -- GDS Holdings Limited (“GDS Holdings”, “GDS” or the “Company”) (NASDAQ: GDS; HKEX: 9698), a leading developer and operator of high-performance data centers in China, today announced the closing of a previously announced registered public offering of 6,000,000 American Depositary Shares (“ADSs”), each representing eight Class A ordinary shares, par value US$0.00005 per share (the “Delta Placement of Borrowed ADSs”), at a public offering price of US$24.50 per A ...