6-K: Report of foreign private issuer (related to financial reporting)

GDS Holdings has entered into an ADS lending agreement with J.P. Morgan Securities plc on May 27, 2025, in connection with its $500 million convertible senior notes offering. Under the agreement, GDS will lend 6 million American Depositary Shares (ADSs) to J.P. Morgan, with each ADS representing eight Class A ordinary shares.The agreement is linked to GDS's issuance of 2.25% Convertible Senior Notes due 2032, with an initial conversion rate of 30.2343 ADSs per $1,000 principal amount. The total offering amount could increase to $550 million if the option to purchase additional notes is exercised in full.The lending agreement includes provisions for termination events, repurchase obligations, and various regulatory compliance requirements. J.P. Morgan is prohibited from voting the borrowed ADSs except in specific circumstances to maintain quorum. The agreement will terminate when the entire principal amount of the Convertible Notes ceases to be outstanding or upon other specified events.

GDS Holdings has entered into an ADS lending agreement with J.P. Morgan Securities plc on May 27, 2025, in connection with its $500 million convertible senior notes offering. Under the agreement, GDS will lend 6 million American Depositary Shares (ADSs) to J.P. Morgan, with each ADS representing eight Class A ordinary shares.The agreement is linked to GDS's issuance of 2.25% Convertible Senior Notes due 2032, with an initial conversion rate of 30.2343 ADSs per $1,000 principal amount. The total offering amount could increase to $550 million if the option to purchase additional notes is exercised in full.The lending agreement includes provisions for termination events, repurchase obligations, and various regulatory compliance requirements. J.P. Morgan is prohibited from voting the borrowed ADSs except in specific circumstances to maintain quorum. The agreement will terminate when the entire principal amount of the Convertible Notes ceases to be outstanding or upon other specified events.