Globenewswire·2025-11-19 11:30Financial Performance - In Q3 2025, GDS Holdings reported net revenue of RMB2,887.1 million (US$405.6 million), a 10.2% increase year-over-year from RMB2,619.6 million [4][11] - Adjusted EBITDA grew by 11.4% year-over-year to RMB1,342.2 million (US$188.5 million), with an adjusted EBITDA margin of 46.5% [11][19] - The company achieved a net income of RMB728.6 million (US$102.4 million) in Q3 2025, compared to a net loss of RMB231.1 million in the same period last year [15][11] Operational Highlights - Total area committed and pre-committed increased by 4.8% year-over-year to 656,729 sqm as of September 30, 2025 [11][25] - Area utilized rose by 10.9% year-over-year to 486,607 sqm, with a utilization rate of 74.4% [11][30] - The company completed its C-REIT IPO, which started trading on August 8, 2025, and was trading at a 45.8% premium to the IPO price as of November 18, 2025 [23][24] Cost and Expenses - Cost of revenue for Q3 2025 was RMB2,247.9 million (US$315.8 million), a 9.0% increase year-over-year [4] - Selling and marketing expenses increased by 24.2% year-over-year to RMB31.1 million (US$4.4 million) [8] - General and administrative expenses rose by 15.5% year-over-year to RMB109.2 million (US$15.3 million) [9] Debt and Liquidity - As of September 30, 2025, GDS Holdings had cash of RMB13,443.7 million (US$1,888.4 million) and total short-term debt of RMB3,312.6 million (US$465.3 million) [20][21] - The company obtained new debt financing and refinancing facilities totaling RMB5,053.8 million (US$709.9 million) during Q3 2025 [22] Business Outlook - GDS Holdings confirmed its revenue guidance for 2025, projecting total revenues between RMB11,290 million and RMB11,590 million, and adjusted EBITDA between RMB5,190 million and RMB5,390 million [31]