SEC Filings

Form 20-F
GDS HOLDINGS LTD filed this Form 20-F on 03/29/2018
Document Outline
Entire Document (11308 KB)
Subdocument 1 - 20-F - 20-F
Page 1 - UNITED STATES
Page 2 - N/A
Page 3 - GDS HOLDINGS LIMITED
Page 4 - Conventions That Apply to This Annual Report on Form 20-F
Page 5 - PART I.
Page 6 - N/A
Page 7 - Key Financial Metrics
Page 8 - N/A
Page 9 - Currency Translation and Exchange Rates
Page 10 - Any inability to manage the growth of our operations could disrupt our business and reduce our profi
Page 11 - If we are not successful in expanding our service offerings, we may not achieve our financial goals
Page 12 - Our substantial level of indebtedness could adversely affect our ability to raise additional capital
Page 13 - We will likely require additional capital to meet our future capital needs, which may adversely affe
Page 14 - We have a history of net losses and may continue to incur losses in the future.
Page 15 - Delays in the construction of new data centers or the expansion of existing data centers could invol
Page 16 - The occurrence of a catastrophic event or a prolonged disruption may exceed our insurance coverage b
Page 17 - Our ability to provide data center services depends on the major telecommunications carriers in Chin
Page 18 - We generate significant revenue from data centers located in only a few locations and a significant
Page 19 - Our customer base may decline if our customers or potential customers develop their own data centers
Page 20 - Customers who rely on us for the colocation of their servers, the infrastructure of their cloud syst
Page 21 - We may not be able to compete effectively against our current and future competitors.
Page 22 - Our failure to comply with regulations applicable to our leased data centers may materially and adve
Page 23 - Our data center infrastructure may become obsolete or unmarketable and we may not be able to upgrade
Page 24 - We may be subject to third-party claims of intellectual property infringement.
Page 25 - We rely on third-party suppliers for key elements of our network infrastructure and software.
Page 26 - Our success depends to a substantial degree upon our senior management, including Mr. William Wei Hu
Page 27 - Failure to commence or resume development of land that we have been granted right to use within the
Page 28 - We are subject to anti-corruption laws of China and Hong Kong as well as the U.S. Foreign Corrupt Pr
Page 29 - If we fail to maintain proper and effective internal controls, our ability to produce accurate finan
Page 30 - Regulations on Mergers and Acquisitions of Domestic Enterprises by Foreign Investors
Page 31 - Our contractual arrangements with our consolidated VIEs may result in adverse tax consequences to us
Page 32 - The shareholders of our consolidated VIEs may have potential conflicts of interest with us, which ma
Page 33 - If the custodians or authorized users of our controlling non-tangible assets, including chops and se
Page 34 - Substantial uncertainties exist with respect to the enactment timetable, interpretation and implemen
Page 35 - Risks Related to Doing Business in the People s Republic of China
Page 36 - N/A
Page 37 - Some of our consolidated VIEs may be regarded as being non-compliant with the regulations on VATS, d
Page 38 - Circular of the Ministry of Industry and Information Technology on Clearing up and Regulating the In
Page 39 - There are uncertainties regarding the interpretation and enforcement of PRC laws, rules and regulati
Page 40 - Cyber Security Law of the People s Republic of China
Page 41 - The approval of the China Securities Regulatory Commission, or the CSRC, may be required under a PRC
Page 42 - Any failure to comply with PRC regulations regarding our employee share incentive plans may subject
Page 43 - The enforcement of the Labor Contract Law of the People s Republic of China, or the PRC Labor Contra
Page 44 - We may be treated as a resident enterprise for PRC tax purposes under the PRC Enterprise Income Tax
Page 45 - We and our shareholders face uncertainties with respect to indirect transfers of equity interests in
Page 46 - Restrictions on currency exchange may limit our ability to utilize our net revenue effectively.
Page 47 - The audit report included in this annual report on Form 20-F is prepared by an auditor who is not in
Page 48 - Risks Related to Our ADSs
Page 49 - If securities or industry analysts do not publish research or publish inaccurate or unfavorable rese
Page 50 - Substantial future sales or perceived potential sales of our ADSs in the public market could cause t
Page 51 - Our dual-class voting structure and concentrated ownership limits your ability to influence corporat
Page 52 - You may be subject to limitations on transfer of your ADSs.
Page 53 - Our articles of association contain anti-takeover provisions that could discourage a third party fro
Page 54 - As a company incorporated in the Cayman Islands, we are permitted to adopt certain home country prac
Page 55 - We will continue to incur increased costs as a result of being a public company, particularly after
Page 56 - ITEM 4.
Page 57 - Acquisition of EDC Holding
Page 58 - Public
Page 59 - B.
Page 60 - Our Business Model and the Data Center Lifecycle
Page 61 - Our Data Centers
Page 62 - Self-developed Data Centers
Page 63 - Types of Data Centers.
Page 64 - Self-Developed Data Centers Under Construction.
Page 65 - Third-party data centers
Page 66 - Our Services
Page 67 - Data Center Sourcing and Development
Page 68 - Our Customers
Page 69 - Contract Terms and Pricing
Page 70 - Competition
Page 71 - Facilities
Page 72 - Circular of the Ministry of Information Industry on Strengthening the Administration of Foreign Inve
Page 73 - Administrative Measures for Telecommunications Business Operating License
Page 74 - Regulations Related to Information Technology Outsourcing Services Provided to Banking Financial Ins
Page 75 - Regulations Related to Land Use Rights and Construction
Page 76 - Regulations Related to Information Security and Confidentiality of User Information
Page 77 - Administrative Measures for Leasing of Commodity Housing
Page 78 - Social Insurance Law
Page 79 - Circular on the Relevant Issues Concerning the Launch of Reforming Trial of the Administration Model
Page 80 - Notice on Further Simplifying and Improving Policies for the Foreign Exchange Administration of Dire
Page 81 - Notice of the State Administration of Taxation on Negotiated Reduction of Dividends and Interest Rat
Page 82 - C.
Page 83 - N/A
Page 84 - N/A
Page 85 - Contractual Arrangements with Our Affiliated Consolidated Entities
Page 86 - Shareholder Voting Rights Proxy Agreement.
Page 87 - Loan Agreements.
Page 88 - ITEM 4A.
Page 89 - Ability to Source and Develop Data Centers
Page 90 - Cost Structure Depending on Data Center Tenure and Location
Page 91 - Description of Selected Statement of Operations Items
Page 92 - Cost of Revenue
Page 93 - Selling and Marketing Expenses
Page 94 - Taxation
Page 95 - Critical Accounting Policies
Page 96 - Revenue Recognition
Page 97 - Leases
Page 98 - Goodwill
Page 99 - Options to Non-employee Consultants
Page 100 - Weighted average cost of capital, or WACC:
Page 101 - Restricted shares to directors, officers and employees
Page 102 - Income Taxes
Page 103 - Recently Issued Accounting Standards
Page 104 - Leases (Topic 842)
Page 105 - Results of Operations
Page 106 - Effect of Acquisition of SZ5
Page 107 - Selling and Marketing Expenses.
Page 108 - Cost of Revenue
Page 109 - Government Grants.
Page 110 - N/A
Page 111 - Operating Activities
Page 112 - Financing Activities
Page 113 - Convertible Bonds
Page 114 - Shenzhen Loan Facilities
Page 115 - N/A
Page 116 - Shanghai Loan Facilities
Page 117 - Guangzhou Loan Facilities
Page 118 - Chengdu Loan Facilities
Page 119 - C.
Page 120 - E.
Page 121 - ITEM 6.
Page 122 - Mr. William Wei Huang
Page 123 - Mr. Bruno Lopez
Page 124 - Mr. Chang Sun
Page 125 - Board Observer
Page 126 - Change in Control
Page 127 - 2016 Share Incentive Plan
Page 128 - Award Agreements
Page 129 - N/A
Page 130 - C.
Page 131 - Board Committees
Page 132 - Compensation Committee
Page 133 - Nominating and Corporate Governance Committee
Page 134 - Corporate Governance
Page 135 - D.
Page 136 - N/A
Page 137 - N/A
Page 138 - N/A
Page 139 - N/A
Page 140 - ITEM 7.
Page 141 - Contractual Arrangements with Our Affiliated Consolidated Entities and their Shareholders
Page 142 - Convertible Bonds
Page 143 - Registration Rights
Page 144 - Investor Rights Agreements
Page 145 - B.
Page 146 - ITEM 10.
Page 147 - Material United States Federal Income Tax Considerations
Page 148 - This summary does not contain a detailed description of all the United States federal income tax con
Page 149 - Passive Foreign Investment Company
Page 150 - N/A
Page 151 - Taxation of Capital Gains
Page 152 - Information Reporting and Backup Withholding
Page 153 - Foreign Exchange Risk
Page 154 - D.
Page 155 - Payments by Depositary
Page 156 - PART II.
Page 157 - Management s Annual Report on Internal Control over Financial Reporting
Page 158 - ITEM 16C.
Page 159 - ITEM 16H.
Page 160 - PART III.
Page 161 - N/A
Page 162 - N/A
Page 163 - N/A
Page 164 - N/A
Page 165 - N/A
Page 166 - SIGNATURES
Page 167 - GDS HOLDINGS LIMITED AND SUBSIDIARIES
Page 168 - Report of Independent Registered Public Accounting Firm
Page 169 - GDS HOLDINGS LIMITED AND SUBSIDIARIES
Page 170 - GDS HOLDINGS LIMITED AND SUBSIDIARIES
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Subdocument 2 - EX-8.1 - EX-8.1
Page 1 - Exhibit 8.1
Subdocument 3 - EX-12.1 - EX-12.1
Page 1 - Exhibit 12.1
Subdocument 4 - EX-12.2 - EX-12.2
Page 1 - Exhibit 12.2
Subdocument 5 - EX-13.1 - EX-13.1
Page 1 - Exhibit 13.1
Subdocument 6 - EX-13.2 - EX-13.2
Page 1 - Exhibit 13.2
Subdocument 7 - EX-15.1 - EX-15.1
Page 1 - Exhibit 15.1
Subdocument 8 - EX-15.2 - EX-15.2
Page 1 - Exhibit 15.2
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