万国数据（GDS）针对Blue Orca报告发布声明

SHANGHAI, China, Aug. 01,2018 (GLOBE NEWSWIRE) -- GDS Holdings Limited (“GDS Holdings,” “GDS” or the“Company”) (NASDAQ:GDS), a leading developer and operator of high-performancedata centers in China, learned yesterday that it was the subject of a shortseller report (the “Report”) issued by Blue Orca Capital, LLC (“Blue Orca”).

The Report’s allegationsare false, its conclusions are incorrect and its premises reflect a fundamentalmisunderstanding of the Company’s business.

Mr. William Wei Huang,Chairman and Chief Executive Officer, remarked, “We ask that our investors beaware that the Report reflects the opinions of an acknowledged short seller,whose sole interest is in profiting from a decline in the price of the Company’s shares. I have full confidence in our management team andtheir abilities to continue to serve our customers without being distracted bythese baseless allegations.”  Mr. Huangfurther stated, “As a leading data center service provider in China with a17-year track record, we pride ourselves in the trust and relationships we havebuilt with our customers who rely on us. We remain fully committed to continue to grow our business and toprotect and create value for our customers, our shareholders and ouremployees.”

Set forth below are theCompany’s initial responses to allegations made in the Report.

1. Area in Service andUtilization of a Data Center

GDS has commitments for100% of the space of GZ1 from two customers. GDS is currently receiving revenue for 94% of the total committed spaceof GZ1 from these two customers, which is in line with the Company’s definitionof “area utilized”.  The two operatorsreferenced in the Report are leasing the capacity from one of the abovecustomers.

2. Purchase Price andRelated-Party Nature of Certain Acquisitions

The amounts ofconsideration paid as disclosed in the Company’s SEC filings are accurate. Therelevant SAIC filings only reflect a portion of the consideration. None of theemployees, directors or shareholders of the acquired data centers identified inthe Report were at any time an employee, director or related party of GDS.

3. Capital Raising andDebt

GDS Holdings, listed onthe NASDAQ stock exchange, is the entity through which the Company raiseslong-term capital offshore. Under relevant regulations, including those of thePRC State Administration of Foreign Exchange ("SAFE"), the Companycan only remit monies from offshore to onshore as approved by SAFE. GDSHoldings therefore holds its cash offshore until such time as there is aspecific need, and the onshore capital injection is completed.

4.Mounting Balance of Unbilled Receivables

GDS'saccounts receivable cycle, including unbilled accounts receivable, lastsapproximately 70 days. Unbilled receivables arise in the normal course ofbusiness. Higher unbilled accounts receivables reflect the shift in GDS'customer profile to large cloud customers, primarily the major Chinese Internetcompanies. GDS's accounts receivable days are well within market practice, andthe company has had no bad debt for three years.

5.Lengthening Payable Cycle

GDScalculates Days Payable Outstanding as the average payable balance, divided bytotal purchases in terms of operating and capital expenditures, multiplied by360. Under the Company’s definition, its Days Payable Outstanding were 119, 106and 122 days for 2015, 2016 and 2017.

Insum, the Company refutes the allegations of the Report, reaffirms the accuracyof its prior statements and reserves all of its rights to take appropriatelegal action against Blue Orca Capital and/or those responsible for the Report.The Company reserves the right to provide additional detail to further rebutthe Report in the days and weeks to come.

AboutGDS Holdings Limited

GDSHoldings Limited (Nasdaq:GDS) is a leading developer and operator ofhigh-performance data centers in China. The Company’s facilities arestrategically located in China’s primary economic hubs where demand forhigh-performance data center services is concentrated. The Company’s datacenters have large net floor area, high power capacity, density and efficiency,and multiple redundancy across all critical systems. GDS is carrier and cloudneutral, which enables customers to connect to all major PRC telecommunicationscarriers, and to access a number of the largest PRC cloud service providers,whom GDS hosts in its facilities. The Company offers colocation and managedservices, including direct private connection to major cloud platforms. TheCompany has a 17-year track record of service delivery, successfully fulfillingthe requirements of some of the largest and most demanding customers foroutsourced data center services in China. The Company’s base of customersconsists predominantly of hyper-scale cloud service providers, large internetcompanies, financial institutions, telecommunications and IT service providers,and large domestic private sector and multinational corporations.

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