Quarterly ResultMay 20, 2026, 07:02 AM
GDS Holdings Q1 Net Income +247.1% to RMB2.65B; Revenue +23.6%
AI Summary
GDS Holdings Limited announced strong unaudited financial results for the first quarter ended March 31, 2026. Net income surged by 247.1% year-over-year to RMB2,652.1 million (US$384.5 million), while net revenue increased by 23.6% to RMB3,367.1 million (US$488.1 million). Adjusted EBITDA also saw significant growth, rising 47.2% to RMB1,948.7 million (US$282.5 million). The company achieved record net new bookings of approximately 200MW, driven by intensifying AI infrastructure demand. GDS also enhanced financial flexibility through a US$385 million partial sale of DayOne shares and a US$300 million private placement of convertible preferred shares, and reaffirmed its full-year 2026 guidance.
Key Highlights
- Net income increased by 247.1% Y-o-Y to RMB2,652.1 million (US$384.5 million).
- Net revenue increased by 23.6% Y-o-Y to RMB3,367.1 million (US$488.1 million).
- Adjusted EBITDA increased by 47.2% Y-o-Y to RMB1,948.7 million (US$282.5 million).
- Recorded net new bookings of around 200MW, the highest level ever for a single quarter.
- Total area committed and pre-committed grew 11.7% Y-o-Y to 725,485 sqm.
- Utilization rate was 77.3% as of March 31, 2026, up from 75.7% Y-o-Y.
- Completed US$385 million partial sale of DayOne ordinary shares.
- Completed private placement of US$300 million convertible preferred shares.
Price Impact
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