Overview
GDS Holdings Ltd. develops and operates high-performance data centers, providing colocation and related infrastructure and managed services for customers’ mission-critical IT and hybrid-cloud needs. Its facilities are carrier- and cloud-neutral, and its business is principally based in mainland China, including major markets such as Shanghai, Beijing, Shenzhen, Guangzhou and Chengdu/Chongqing.[1][2][3][4]
For the year ended December 31, 2025, GDS reported net revenue of RMB 11,432.3 million (US$1,634.8 million). At year-end, it operated 90 self-developed data centers and reported 668,283 square metres of net floor area in service and 989 customers. GDS also held an equity investment in Singapore-headquartered DayOne; this is distinct from its core operating footprint.[5][6][7][8] [1][2][3][5][6][7][4][8]
Products & services
GDS’s colocation offering provides modular, secure data-center space for customers’ mission-critical IT and networking equipment, with power and cooling, high availability, and an emphasis on high power density and power efficiency. Contracts may price floor space, power capacity and services separately—with power charged according to consumption—or bundle rack/cabinet space with power up to a specified limit.[3][9]
Its services also include managed hosting and managed cloud, including CloudMIX, a hybrid-cloud management platform, alongside cloud implementation consulting and physical-to-cloud migration support. The platform is designed to help enterprises manage environments combining private infrastructure and public-cloud providers.[10][3][11] At December 31, 2025, GDS reported 668,283 square meters of data-center area in service and 75.5% utilization of that area.[12] The cited FY2025 disclosures do not provide revenue percentages by individual product or service.[13] [3][9][10][13][11][12]
Geographic presence
GDS Holdings’ data-center footprint is concentrated in mainland China, with most existing and planned capacity located in four eastern China computing hubs. The company also reports three data centers in Zhangjiakou, Hebei. Its operating subsidiaries hold licenses covering service areas in multiple cities, though licensed coverage should not be read as a list of facilities: GDS Beijing’s licenses cover 16 cities, GDS Shanghai’s five, and GDS Suzhou’s 45, with some restrictions on the services offered in certain locations.[14][15][16]
The company’s services and sales are primarily domestic to China, and substantially all revenue is received in renminbi; no geographic revenue percentages were identified. Its principal executive office is in Pudong, Shanghai, at F4/F5, Building C, Sunland International, No. 999 Zhouhai Road.[17][18][8]
GDS also has an investment-related association with DayOne, whose geographic references include Singapore, Malaysia, Indonesia, Thailand and Japan. These markets are associated with DayOne and should not be treated as GDS’s consolidated operating footprint.[17][19][20] [14][15][16][17][18][8][19][20]
Business segments
GDS Holdings’ continuing operations are reported as one operating segment, covering the design, build-out and operation of data centers. The company does not report separate operating segments for customer types, services or geographies.[21] Its data-center business serves hyperscale cloud providers and large internet companies, and provides infrastructure for customers’ mission-critical IT.[3]
Following a reporting-structure reorganization, GDS identified DayOne as a separate operating segment because management began assessing it separately and allocating resources between it and the other operations. DayOne is reported in discontinued operations for FY2025, so the company does not provide separate DayOne segment information for that year.[22][23] The continuing segment represented approximately 100% of FY2025 consolidated net revenue: RMB 11,432,274 thousand.[24] [21][3][22][23][24]
Company history
GDS Holdings traces its operating history to 2001, when founder William Wei Huang began a services-led business using third-party data centers. The holding company was incorporated in the Cayman Islands in 2006, and Huang has served as its CEO since 2002.[25][26][27]
The company began developing its own data-center footprint in the 2010s, opening facilities in Kunshan, Chengdu and Shanghai in 2011, followed by facilities in Shenzhen, Beijing and Shanghai. In 2014, it acquired EDC Holding, expanding its data-center platform. GDS completed its Nasdaq IPO in November 2016.[25][28][29]
From 2018, GDS continued expanding through acquisitions and site development in Guangzhou, Beijing and Shanghai. In 2021, it announced a land acquisition in Batam, Indonesia, extending its regional development plans in Southeast Asia. In 2024, Jamie Khoo was appointed CEO of GDS International, while Huang remained the parent company’s chairman and CEO.[30][31][32][33][34] [25][26][27][28][29][30][31][32][33][34]
Sources
- GDS Holdings Ltd — Full financial report (2025 Y)
- investors.gds-services.com[4]
- www.sec.gov[8]
- www.gds-services.com[11]
- investors.gds-services.com[12]
- dayonedc.com[19]
- dayonedc.com[20]
- www.gds-services.com[25]
- investors.gds-services.com[26]
- investors.gds-services.com[27]
- www.sec.gov[28]
- www.gds-services.com[29]
- investors.gds-services.com[30]
- investors.gds-services.com[31]
- investors.gds-services.com[32]
- investors.gds-services.com[33]
- investors.gds-services.com[34]
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