GDS Holdings Ltd: insider trades · United States · SEC (Form 4)

About GDS Holdings Ltd

GDS Holdings Ltd is a specialized digital infrastructure company focused on the development and operation of high-performance data centers. The company is listed on the NASDAQ in the United States under the ticker GDS, making it a U.S.-listed name followed by international investors, even though its operating base is primarily in China and, more broadly, Asia. In its latest public disclosures, GDS describes itself as a leading developer and operator of high-performance data centers in China. Its headquarters are historically in Shanghai, while its international platform has been reorganized around DayOne, now based in Singapore. Founded in the early 2000s, GDS built its franchise by serving demanding customers in China’s major Tier 1 markets. Its core business model centers on colocation and related mission-critical data center services for enterprise, cloud, and digital platform customers. The company’s main activities include acquiring and developing sites, building and fitting out data center campuses, and operating capacity under long-term customer contracts. It also provides supporting services tied to reliability, security, scalability, and energy efficiency. This business mix gives GDS a strong competitive position in a market where access to land, power, and permits creates meaningful barriers to entry. Geographically, GDS remains heavily concentrated in mainland China, with presence in strategic hubs such as Shanghai, Beijing, Langfang, and Shenzhen. The international business outside mainland China is now separated and run through DayOne, following the restructuring of GDS International. For investors, this distinction matters: the domestic China platform remains the core earnings and operating base, while the international platform represents a separate strategic avenue with its own capital structure and governance profile. In GDS’s 2024 annual reporting, the international business was treated as discontinued operations after the loss of control over GDSI on December 31, 2024. Recent developments have been important for the investment case. In 2025, GDS advanced asset monetization through China REIT-related structures, completed an ADS equity offering, and issued convertible senior notes to improve funding flexibility. Management also highlighted continuing opportunities in Tier 1 markets, supported by AI-driven demand for compute-intensive infrastructure. The company’s recent results pointed to revenue growth and ongoing investment in capacity expansion, while also reflecting the capital intensity and earnings volatility that are typical for data center developers. Overall, GDS combines structural demand tailwinds with significant execution, financing, and regulatory risks tied to its China-centric footprint.