GDS Holdings, a leading high-performance datacenter operator and service provider in China and Southeast Asia, announced its unaudited financial results for the second quarter of 2024 with net income exceeding 2.8 billion RMB, showing strong international business growth.

GDS Holdings Limited (hereinafter referred to as "GDS" or the "Company"), a leading high-performance datacenter operator and service provider in China and Southeast Asia, listed on NASDAQ (stock code: GDS) and the Hong Kong Stock Exchange (stock code: 9698), announced its unaudited financial performance for the second quarter ending June 30, 2024.

Second Quarter of 2024:

Net IncomeThe net income was 2.8264 billion RMB (0.3889 billion USD), a year-on-year increase of 17.7% (excluding a one-time project of 70.7 million RMB disclosed in the previous year's same period);Adjusted EBITDAThe revenue was 1.3122 billion RMB (0.1806 billion USD), a year-on-year increase of 14.9% (excluding a one-time project of 92.8 million RMB disclosed in the previous year's same period);Adjusted EBITDA marginis 46.4%.

"Huang Wei, Chairman and CEO of GDS Holdings, stated: "By focusing on strategic objectives and steadfastly implementing them in an orderly manner, we have continued to maintain steady performance growth in the second quarter of 2024.

In China, our datacenter occupancy rate is showing a significant upward trend, while other indicators remain stable;Overseas, due to the rapidly growing market demand, we have won numerous new customer orders in Johor, Malaysia.Further strengthened gds holdings' leading position in this rapidly emerging global top datacenter hub.

Domestic Business:

Faster delivery speeds, new record high in area utilized

In the second quarter, domestic datacenterIncreased area utilized by 20,027 square meters in the domestic datacenter, reaching a new high in the past three years, mainly from the datacenter in Langfang. With customers accelerating the deployment of AI computing infrastructure, the delivery speed of domestic datacenters will increase, and the utilization rate will continue to rise. This trend will become more significant in the future.

The company's datacenter in Shanghai

Recently, gds holdings has continuously received multiple heavyweight recognitions from national ministries and industry organizations:

Pudong Data Center was selected for the list of national green data centers in 2023 by the Ministry of Industry and Information Technology and six other ministries; GDS Holdings ranked first in three key indicators of overall scale, capacity construction, and financial condition, topping the "Top Ten Chinese Computing Service Providers" selected by the China Information and Communication Research Institute for the fourth consecutive year; With progress in the use of renewable energy, information disclosure, environmental governance, and carbon neutrality actions, GDS Holdings ranked first in the Renewable Energy Performance List of Data Center Companies in the "Green Cloud" report for the second consecutive year.

International Business:

Received a large number of new orders, strengthening regional resource coverage

Benefiting from the continuous surge in local demand, GDS Holdings' data center park in Johor, Malaysia added nearly 206MW of new orders this quarter. Recently, the company also signed a contract with a global technology company for a new data center park on Batam Island, Indonesia.

Currently, the company has established two super large-scale data center parks in Johor, Malaysia: NTP and KTP. Recently, GDS Holdings' Phase 2 of NTP Campus in Nusajaya Science and Technology Park, Johor, Malaysia officially commenced operations. The park has a total construction area of 46,700 square meters, total IT capacity of 50MW, including two independent data center buildings (NTP4 and NTP5), being the first data center locally supporting large-scale AI computing deployment, offering top-notch AI services to global leading companies.

NTP Campus 2

About GDS Holdings Limited

GDS Holdings Limited (NASDAQ: GDS; Hong Kong Stock Exchange: 9698) is a leading developer and operator of high-performance data centers in China and Southeast Asia. The company's facilities are strategically located in major economic centers where there is a significant demand for high-performance data center services. GDS also builds, operates, and transfers data centers in other locations chosen by its customers to meet their broader requirements. The company's data centers have large net room area, high power capacity, density, efficiency, and multiple redundancies in critical systems. GDS is neutral to operators and cloud service providers, enabling GDS' customers to access major telecommunications networks and use China's and the world's largest public cloud services hosted in the many facilities of GDS. The company offers colocation and a range of value-added services, including colocation hybrid cloud services with direct private links to leading public clouds, managed network services, and resale of public cloud services when needed. GDS has a track record of 23 years in service delivery, successfully meeting the outsourcing requirements of some of China's largest and most demanding customers for data center services. The company's customer base mainly includes large cloud service providers, major internet companies, financial institutions, telecommunications operators, IT service providers, as well as large private and multinational companies in China.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made based on the 'Safe Harbor' provisions of the Private Securities Litigation Reform Act of 1995 in the United States. These forward-looking statements are identified by words such as 'intend,' 'expect,' 'believe,' 'continue,' 'estimate,' 'anticipate,' 'future,' 'guidance,' 'plan,' 'project,' 'likely,' 'may,' 'will,' and similar expressions. In addition to historical facts, the statements in this announcement, including beliefs and expectations of GDS Holdings regarding its business growth and revenue for the entire fiscal year, business prospects, and management's quotes, as well as GDS Holdings' strategies and operational plans, are forward-looking statements or contain them. GDS Holdings may also make written or oral forward-looking statements in its periodic reports on Form 20-F and 6-K filed with the United States Securities and Exchange Commission (SEC), in its existing reports to shareholders, interim reports and annual reports, announcements published on the Hong Kong Stock Exchange website, letters or other publications, press releases and other written materials, as well as in written or oral forward-looking statements made by its senior officers, directors, or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. Several factors could cause the actual performance or financial results of GDS Holdings to differ significantly from any forward-looking statements, including but not limited to: GDS Holdings' objectives and strategy; GDS Holdings' future business development, financial condition, and operating performance; expected growth in the market for high-performance data centers, data center solutions, and related services in China and Southeast Asia; expectations of GDS Holdings for demand and market acceptance of its high-performance data centers, data center solutions, and related services; expectations of GDS Holdings to establish, enhance, and maintain relationships with new and existing customers; continued adoption of cloud computing and cloud service providers in China and Southeast Asia; risks and uncertainties related to investments in GDS Holdings' business and new data center plans; risks and uncertainties related to strategic acquisitions and investments; GDS Holdings' ability to maintain or increase its revenue or business; fluctuations in GDS Holdings' operating performance; changes in the legal, regulatory, and supervisory environment affecting GDS Holdings' business operations; industry competition faced by GDS Holdings in China and Southeast Asia; security vulnerabilities; power outages; fluctuations in the overall economic and business conditions of China, Southeast Asia, and globally; and assumptions related to any of the above factors. Further information on such and other risks, uncertainties, or factors is included in documents submitted by GDS Holdings to the SEC, including annual reports on Form 20-F and documents submitted to the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release and is based on assumptions that GDS Holdings believes are reasonable as of that date. Except as required by applicable law, GDS Holdings has no obligation to update any forward-looking statements.

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