GDS Holdings Q1 Revenue Rises 23.6% to RMB3.37 B, Net Income Soars 247%
GDS reported Q1 net revenue of RMB3,367.1 million, up 23.6% year-over-year, and net income of RMB2,652.1 million, up 247.1%, lifting net income margin to 78.8%. GDS also announced Audit Committee Chair Lim Ah Doo’s resignation after 11 years and appointed Kathy Chen, a 30-year finance veteran, as independent director and committee chair.
1. Q1 2026 Financial Performance
GDS Holdings reported Q1 net revenue of RMB3,367.1 million, a 23.6% increase year-over-year, and net income of RMB2,652.1 million, up 247.1%, yielding a net income margin of 78.8%. Adjusted EBITDA rose 47.2% to RMB1,948.7 million, total area committed grew 11.7% to 725,485 sqm, and utilization reached 77.3%.
2. Board Resignation and Appointment
Independent director and Audit Committee Chair Lim Ah Doo resigned after eleven years of service. The board appointed Kathy Chen—who has over 30 years of finance experience, a CPA credential, and prior roles at SB China Venture Capital and Credit Suisse—as independent director and new Audit Committee Chair to uphold governance standards.