<SEC-DOCUMENT>0001104659-26-069256.txt : 20260602
<SEC-HEADER>0001104659-26-069256.hdr.sgml : 20260602
<ACCEPTANCE-DATETIME>20260602083533
ACCESSION NUMBER:		0001104659-26-069256
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		8
CONFORMED PERIOD OF REPORT:	20260602
FILED AS OF DATE:		20260602
DATE AS OF CHANGE:		20260602

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GDS Holdings Ltd
		CENTRAL INDEX KEY:			0001526125
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
		ORGANIZATION NAME:           	06 Technology
		EIN:				000000000

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37925
		FILM NUMBER:		261053734

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		F4/F5, BUILDING C, SUNLAND INTERNATIONAL
		STREET 2:		NO. 999 ZHOUHAI ROAD, PUDONG,
		CITY:			SHANGHAI
		PROVINCE COUNTRY:   	F4
		ZIP:			200137
		BUSINESS PHONE:		86-21-2029-2200

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		F4/F5, BUILDING C, SUNLAND INTERNATIONAL
		STREET 2:		NO. 999 ZHOUHAI ROAD, PUDONG,
		CITY:			SHANGHAI
		PROVINCE COUNTRY:   	F4
		ZIP:			200137

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GDS Services Ltd
		DATE OF NAME CHANGE:	20110719
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2616654d1_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Report of Foreign Private Issuer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Rule&nbsp;13a-16 or 15d-16 of</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For the month of June&nbsp;2026</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number: 001-37925</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GDS Holdings Limited</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s name)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>F4/F5, Building C, Sunland International</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>No.&nbsp;999 Zhouhai Road</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pudong, Shanghai 200137</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>People&rsquo;s Republic of China</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form&nbsp;20-F or Form&nbsp;40-F:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;20-F
</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8239;&#8239;&#8239;Form&nbsp;40-F
<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><A HREF="tm2616654d1_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></A></TD>
    <TD><A HREF="tm2616654d1_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press release &mdash; GDS to Hold Annual General Meeting
    on June&nbsp;25, 2026</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2616654d1_ex99-2.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.2</FONT></A></TD>
    <TD><A HREF="tm2616654d1_ex99-2.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice of Annual General Meeting</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2616654d1_ex99-3.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.3</FONT></A></TD>
    <TD><A HREF="tm2616654d1_ex99-3.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proxy Statement for Annual General Meeting</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2616654d1_ex99-4.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.4</FONT></A></TD>
    <TD><A HREF="tm2616654d1_ex99-4.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proxy Card for Annual General Meeting</FONT></A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>GDS Holdings Limited</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: June&nbsp;2, 2026</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ William Wei Huang</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">William Wei Huang</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 3; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2616654d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GDS to Hold Annual General Meeting on June&nbsp;25,
2026</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SHANGHAI, China, June&nbsp;2, 2026 (GLOBE NEWSWIRE)
-- GDS Holdings Limited (&ldquo;GDS Holdings&rdquo;, &ldquo;GDS&rdquo; or the &ldquo;Company&rdquo;) (NASDAQ: GDS; HKEX: 9698), a leading
developer and operator of high-performance data centers in China, today announced that it will hold its 2026 Annual General Meeting of
Shareholders (the &ldquo;AGM&rdquo;) at Beijing Meeting Room, F5, Building C, Sunland International, No.&nbsp;999 Zhouhai Road, Pudong,
Shanghai, P.R.C. at 4:00 p.m.&nbsp;(China Standard Time) on June&nbsp;25, 2026 (which is 4:00 a.m.&nbsp;(Eastern Daylight Time) on June&nbsp;25,
2026).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Holders of the Company&rsquo;s ordinary shares,
Series&nbsp;A convertible preferred shares and Series&nbsp;B convertible preferred shares listed in the register of members of the Company
at the close of business on June&nbsp;4, 2026 (China Standard Time) are entitled to receive notice of, and vote at, the AGM or at any
adjournment that may take place. Beneficial owners of the Company&rsquo;s American Depositary Shares (&ldquo;ADSs&rdquo;) who wish to
exercise their voting rights for the underlying Class&nbsp;A ordinary shares must act through JPMorgan Chase Bank, N.A. (&ldquo;JPMorgan&rdquo;),
the depositary of the Company&rsquo;s ADS program. Holders of ADSs at the close of business on June&nbsp;4, 2026, New York time will be
able to instruct JPMorgan as to how to vote the Class&nbsp;A ordinary shares represented by such ADSs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Copies of the Notice of the AGM, which sets forth
the resolutions to be proposed and for which adoption from shareholders is sought, the Proxy Statement and the Proxy Card are available
on the Investor Relations section of the Company&rsquo;s website at http://investors.gds-services.com, on the SEC&rsquo;s website at <U>www.sec.gov</U>
and HKEX&rsquo;s website at <U>http://www.hkexnews.hk</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">GDS has filed its annual report on Form&nbsp;20-F,
including its audited financial statements, for the fiscal year ended December&nbsp;31, 2025, with the U.S. Securities and Exchange Commission
(&ldquo;SEC&rdquo;). The Company&rsquo;s Form&nbsp;20-F can be accessed on the Company&rsquo;s website at investors.gds-services.com,
as well as on the SEC&rsquo;s website at <U>www.sec.gov</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">GDS has also published its annual report for Hong
Kong purposes pursuant to the Rules&nbsp;Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (&ldquo;HKEX&rdquo;),
which can be accessed on the Company&rsquo;s website at investors.gds-services.com as well as the HKEX&rsquo;s website at <U>http://www.hkexnews.hk</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B>About GDS Holdings
Limited</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">GDS Holdings Limited (NASDAQ: GDS; HKEX: 9698) is a leading developer
and operator of high-performance data centers in China. The Company&rsquo;s facilities are strategically located across the key hubs where
demand for high-performance data center services is concentrated. The Company&rsquo;s data centers have large net floor area, high power
capacity, density and efficiency, and multiple redundancies across all critical systems. The Company is carrier and cloud-neutral, which
enables its customers to access the major telecommunications networks, as well as the largest PRC and global public clouds, which are
hosted in many of its facilities. The Company has a 26-year track record of service delivery, successfully fulfilling the requirements
of some of the largest and most demanding customers for outsourced data center services in China. The Company&rsquo;s customer base consists
predominantly of hyperscale cloud service providers, large internet companies, financial institutions, telecommunications carriers,&nbsp;IT
service providers, and large domestic private sector and multinational corporations. The Company also holds a minority equity interest
in DayOne Data Centers Limited, an independent Singapore-headquartered hyperscale data center platform.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>For investor and media inquiries, please contact:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>GDS Holdings Limited</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Laura Chen</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Phone: +86 (21) 2029-2203</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Email: ir@gds-services.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Piacente Financial Communications</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ross Warner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Phone: +86 (10)&nbsp;6508-0677</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Email: GDS@tpg-ir.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Brandi Piacente</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Phone: +1 (212) 481-2050</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Email: GDS@tpg-ir.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">GDS Holdings Limited</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 2; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>tm2616654d1_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;99.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2616654d1_ex99-2img001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GDS HOLDINGS LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>TO BE HELD ON JUNE 25, 2026</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Shareholders,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notice is hereby given that GDS Holdings Limited,
a Cayman Islands company (the &ldquo;<B>Company</B>&rdquo;), will hold its annual general meeting of shareholders (the &ldquo;<B>Meeting</B>&rdquo;)
at Beijing Meeting Room, F5, Building C, Sunland International, No.&nbsp;999 Zhouhai Road, Pudong, Shanghai, P.R.C. at 4:00 p.m.&nbsp;(China
Standard Time) on June&nbsp;25, 2026 for the following purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To table the financial statements of the Company
for the year ended December&nbsp;31, 2025, as contained in the annual report on Form&nbsp;20-F and the Hong Kong annual report of the
Company issued on April&nbsp;29, 2026 (China Standard Time).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To consider and, if thought fit, pass the following
resolutions as Ordinary Resolutions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">that Mr.&nbsp;Gary J. Wojtaszek be re-elected as a director of the Company;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">2.</TD><TD STYLE="text-align: justify">that Mr.&nbsp;David Zhang be elected as a director of the Company;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">3.</TD><TD STYLE="text-align: justify">that Ms.&nbsp;Hua (Kathy) Chen be re-elected as a director of the Company;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">4.</TD><TD STYLE="text-align: justify">that the effectiveness of the Company&rsquo;s 2016 Equity Incentive Plan be extended for a period of three (3)&nbsp;years;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">5.</TD><TD STYLE="text-align: justify">that the appointment of KPMG Huazhen LLP as independent auditor of the Company for the fiscal year ending December&nbsp;31, 2026 be
confirmed;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">6.</TD><TD STYLE="text-align: justify">that the Board of Directors of the Company be authorized to allot or issue, in the 12-month period from the date of the Meeting, ordinary
shares or other equity or equity-linked securities of the Company up to an aggregate thirty per cent. (30%) of its existing issued share
capital of the Company at the date of the Meeting, whether in a single transaction or a series of transactions (OTHER THAN any allotment
or issues of shares on the exercise of any options or warrants granted by the Company from time to time or any shares issued on the conversion
by Ping An Insurance and by STT of the convertible and redeemable bonds due 2019 held by Ping An Insurance and STT respectively);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">7.</TD><TD STYLE="text-align: justify">that each of the directors and officers of the Company be authorized to take any and every action that might be necessary to effect
the foregoing resolutions as such director or officer, in his or her absolute discretion, thinks fit.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company filed its annual report on Form&nbsp;20-F
and submitted its Hong Kong annual report for the fiscal year ended December&nbsp;31, 2025 with the U.S. Securities and Exchange Commission
and to the Stock Exchange of Hong Kong Limited, respectively, on April&nbsp;29, 2026 (China Standard Time), which annual reports may be
accessed on the Company's investor relations website at <U>investors.gds-services.com</U>, on the SEC&rsquo;s website at <U>www.sec.gov</U>
(for the annual report on Form&nbsp;20-F) and on the HKEx&rsquo;s website at <U>www.hkexnews.hk </U>(for the Hong Kong annual report).
The Company will provide hardcopies of the annual reports, free of charge, to its shareholders and the holders of the Company&rsquo;s
American depositary shares (&ldquo;<B>ADS</B>&rdquo;) upon request submitted to ir@gds-services.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">You can find more information about the agenda
in the attached proxy statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Board of Directors
of the Company has fixed the close of business on June&nbsp;</FONT>4, 2026 (China Standard Time) as the record date (the &ldquo;<B>Shares
Record Date</B>&rdquo;) for determining the holders of our ordinary shares, Series&nbsp;A convertible preferred shares and Series&nbsp;B
convertible preferred shares entitled to receive notice of and to vote at the Meeting or any adjourned or postponed meeting thereof. Accordingly,
only holders of our ordinary shares, Series&nbsp;A convertible preferred shares and Series&nbsp;B convertible preferred shares registered
in the register of members of the Company at the close of business on the Shares Record Date are entitled to attend and vote at the Meeting
or at any adjournment that may take place. The share register of the Company will not be closed. Holders of American depositary shares
(the &ldquo;<B>ADSs</B>&rdquo;) issued by JPMorgan Chase Bank, N.A. (&ldquo;<B>JPMorgan</B>&rdquo;), as depositary of the ADSs, and representing
our Class&nbsp;A ordinary shares are not entitled to attend or vote at the Meeting. Holders of ADSs as of close of business on June&nbsp;4,
2026, New York time will be able to instruct JPMorgan, as to how to vote the Class&nbsp;A ordinary shares represented by such ADSs. Holders
of the Company&rsquo;s ADS who wish to exercise their voting rights for the underlying shares must act through JPMorgan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We cordially invite all shareholders of the Company
to attend the Meeting in person. We encourage shareholders planning to attend the Meeting in person to preregister by sending an email
to ir@gds-services.com. However, a shareholder entitled to attend and vote is entitled to appoint a proxy to attend and, on a poll, vote
instead of such shareholder. A proxy need not be a shareholder of the Company. Any representative of a corporate shareholder attending
the Meeting would need to produce a letter/board resolutions showing the authorization to represent such shareholder to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Whether or not you propose to attend the Meeting
in person, you are strongly advised to complete and return the form of proxy in accordance with these instructions. For holders of Class&nbsp;A
ordinary shares registered on our branch register of members in Hong Kong, to be valid, the form must be completed and returned by mail
or by hand to Computershare Hong Kong Investor Services Limited at 17M Floor, Hopewell Centre, 183 Queen&rsquo;s Road East, Hong Kong
as soon as possible and in any event not later than 48 hours before the time for holding the Meeting or any adjourned meeting. For holders
of ordinary shares, Series&nbsp;A convertible preferred shares or Series&nbsp;B convertible preferred shares registered on our principal
register of members in the Cayman Islands, to be valid, the form must be completed and deposited (together with any power of attorney
or other authority under which it is signed or a certified copy of that power or authority) to the attention of Cathy Zhang, GDS Holdings
Limited, F4/F5, Building C, Sunland International, No.&nbsp;999 Zhouhai Road, Pudong, Shanghai 200137, P.R.C., +86-21-20292200, as soon
as possible and in any event not later than 48 hours before the time for holding the Meeting or any adjourned meeting. Returning the completed
form of proxy will not preclude you from attending the Meeting and voting in person if you so wish and in such event the proxy shall be
deemed to be revoked.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Notice of the Annual General Meeting of Shareholders,
the Proxy Card and the Proxy Statement are also available through our website at <I><U>http://investors.gds-services.com</U></I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By Order of the Board of Directors,</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">William Wei Huang</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman of the Board and</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June&nbsp;2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">, 2026</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 2; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>tm2616654d1_ex99-3.htm
<DESCRIPTION>EXHIBIT 99.3
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;99.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="tm2616654d1_ex99-3img001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GDS HOLDINGS LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROXY STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our Board of Directors is soliciting proxies for an annual general
meeting of shareholders (the &ldquo;<B>Meeting</B>&rdquo;) to be held at 4:00 p.m.&nbsp;(China Standard Time) on June&nbsp;25, 2026 or
at any adjournment thereof. The Meeting will be held at Beijing Meeting Room, F5, Building C, Sunland International, No.&nbsp;999 Zhouhai
Road, Pudong, Shanghai, P.R.C.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Revocability of Proxies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any proxy given pursuant to this solicitation may be revoked by the
person giving it at any time before its use by delivering a written notice of revocation or a duly executed proxy bearing a later date,
or by attending the Meeting and voting in person. A written notice of revocation or a duly executed proxy bearing a later date by holders
of Class&nbsp;A ordinary shares registered on our branch register of members in Hong Kong must be delivered by mail or by hand to Computershare
Hong Kong Investor Services Limited at 17M Floor, Hopewell Centre, 183 Queen&rsquo;s Road East, Hong Kong no later than 48 hours prior
to the Meeting. A written notice of revocation or a duly executed proxy bearing a later date by holders of ordinary shares, Series&nbsp;A
convertible preferred shares or Series&nbsp;B convertible preferred shares registered on our principal register of members in the Cayman
Islands must be delivered by mail or by hand to the attention of the Company no later than 48 hours prior to the Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Record Date, Share Ownership, and Quorum</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Holders of our ordinary shares, Series&nbsp;A
convertible preferred shares and Series&nbsp;B convertible preferred shares of record at the close of business on June&nbsp;</FONT>4,
2026 (China Standard Time) (the &ldquo;<B>Shares Record Date</B>&rdquo;) are entitled to vote at the Meeting. Holders of American depositary
shares (&ldquo;<B>ADS</B>&rdquo;) issued by JPMorgan Chase Bank, N.A. (&ldquo;<B>JPMorgan</B>&rdquo;) as of close of business on June&nbsp;4,
2026, New York time (the &ldquo;<B>ADSs Record Date</B>&rdquo;, together with the Shares Record Date, the &ldquo;<B>Record Date</B>&rdquo;),
will be able to instruct JPMorgan, the holder of record of Class&nbsp;A Ordinary Shares represented by ADSs, as to how to vote the Class&nbsp;A
Ordinary Shares represented by such ADSs. As of May&nbsp;31, 2026, 1,559,430,567 of our Class&nbsp;A ordinary shares and 43,590,336 of
our Class&nbsp;B ordinary shares, but excluding 6,000,000 ADSs representing 48,000,000 ordinary shares issued upon closing of our delta
placement of borrowed ADSs which we lent to an affiliate of the underwriter of such delta placement pursuant to an ADS lending agreement,
par value US$0.00005 per share, were issued and outstanding, among which 216,592,664 Class&nbsp;A ordinary shares were represented by
the ADSs held by JPMorgan, as well as 150,000 Series&nbsp;A convertible preferred shares (which are convertible into 33,707,864 Class&nbsp;A
ordinary shares on the Record Date) and 300,000 Series&nbsp;B convertible preferred shares (which are convertible into 44,096,580 Class&nbsp;A
ordinary shares on the Record Date) were issued and outstanding. At any general meeting of the Company, two (2)&nbsp;members entitled
to vote and present in person or by proxy (or in the case of a member being a corporation, by its duly authorized representative) representing
not less than one-third in nominal value of the total issued voting shares in the Company throughout the Meeting shall form a quorum for
all purposes, save that for any general meeting requisitioned according to Article&nbsp;58(2)(iv)&nbsp;of the Articles, two (2)&nbsp;members
entitled to vote and present in person or by proxy or (in the case of a member being a corporation) by its duly authorized representative
representing not less than 10% of the aggregate voting power in the Company throughout the Meeting shall form a quorum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Voting and Solicitation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For Proposals 1, 2 and 3, each Class&nbsp;A ordinary share in issue
and each Class&nbsp;A ordinary share into which the Series&nbsp;A convertible preferred shares and Series&nbsp;B convertible preferred
shares in issue are convertible on the Record Date are entitled to one (1)&nbsp;vote per share, and each Class&nbsp;B ordinary share in
issue on the Record Date is entitled to fifty (50) votes per share. For Proposals 4, 5, 6 and 7, each Class&nbsp;A ordinary share in issue,
each Class&nbsp;A ordinary share into which the Series&nbsp;A convertible preferred shares and Series&nbsp;B convertible preferred shares
in issue are convertible and each Class&nbsp;B ordinary share in issue on the Record Date are entitled to one (1)&nbsp;vote per share.
At the Meeting every ordinary shareholder, Series&nbsp;A convertible preferred shareholder and Series&nbsp;B convertible preferred shareholder
present in person or by proxy or, in the case of an ordinary shareholder or Series&nbsp;A convertible preferred shareholder or Series&nbsp;B
convertible preferred shareholder being a corporation, by its duly authorized representative, may vote the fully paid ordinary shares
held or ordinary shares into which such Series&nbsp;A convertible preferred shares or Series&nbsp;B convertible preferred shares are convertible
held by such ordinary shareholder or Series&nbsp;A convertible preferred shareholder or Series&nbsp;B convertible preferred shareholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A resolution put to the vote of the Meeting shall be decided by way
of a poll save that the chairman of the Meeting may in good faith, allow a resolution which relates purely to a procedural or administrative
matter to be voted on by a show of hands in which case every member present in person or by proxy, or in the case of a member being a
corporation, by its duly authorized representative, shall have one (1)&nbsp;vote provided that where more than one (1)&nbsp;proxy is appointed
by a member which is a clearing house (or its nominee(s)), each such proxy shall have one (1)&nbsp;vote on a show of hands. The result
of the poll shall be deemed to be the resolution of the Meeting. A shareholder of the Company who has a material interest in a transaction
or arrangement to be approved by a particular resolution relating to such transaction or arrangement will be required to abstain from
voting on such resolution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The costs of soliciting proxies will be borne by us. Proxies may be
solicited by certain of our directors, officers and regular employees, without additional compensation, in person or by telephone or electronic
mail. Copies of solicitation materials will be furnished to banks, brokerage houses, fiduciaries, and custodians holding in their names
our ordinary shares, Series&nbsp;A convertible preferred shares, Series&nbsp;B convertible preferred shares or ADSs beneficially owned
by others to forward to those beneficial owners.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Voting by Holders of Ordinary Shares, Series&nbsp;A Convertible
Preferred Shares and Series&nbsp;B Convertible Preferred Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">When proxies are properly dated, executed, and returned by holders
of ordinary shares, Series&nbsp;A convertible preferred shares or Series&nbsp;B convertible preferred shares, the ordinary shares they
represent or into which they may be converted will be voted at the Meeting in accordance with the instructions of the shareholders. If
no specific instructions are given by such holders, or in the case of broker&rsquo;s non-votes, the ordinary shares or the ordinary shares
into which they may be converted will be voted at the discretion of the holder of such proxies. Abstentions by holders of ordinary shares,
Series&nbsp;A convertible preferred shares or Series&nbsp;B convertible preferred shares which are convertible into ordinary shares are
included in the determination of the number of ordinary shares, Series&nbsp;A convertible preferred shares or Series&nbsp;B convertible
preferred shares convertible into ordinary shares present for the purpose of quorum but are not counted as votes for or against a proposal.
Any representative of a corporate shareholder attending the Meeting would need to produce a letter or board resolutions showing the authorization
to represent such shareholder to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Voting by Holders of American Depositary Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have requested JPMorgan, as depositary of the ADSs, to deliver to
all owners of ADSs an ADS Voting Instruction Card. Upon the written request of an owner of record of ADSs by a duly completed ADS voting
instruction card, JPMorgan will endeavor, in so far as practicable, to vote or cause to be voted the amount of ordinary shares or other
deposited securities represented by such ADSs, evidenced by American Depositary Receipts related to those ADSs, in accordance with the
instructions set forth in such requests. Under the terms of the deposit agreement, JPMorgan has advised us that it will not vote or attempt
to exercise the right to vote other than in accordance with such voting instructions or such deemed instructions as further described
in the paragraph below. As the holder of record for all the Class&nbsp;A ordinary shares represented by the ADSs, only JPMorgan may vote
those Class&nbsp;A ordinary shares at the Meeting. JPMorgan and its agents have advised us that they are not responsible if they fail
to carry out your voting instructions or for the manner in which they carry out your voting instructions. This means that if the ordinary
shares underlying your ADSs are not able to be voted at the Meeting, there may be nothing you can do.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If no such written request is received by JPMorgan from an owner of
record of ADSs by 9:00 a.m.&nbsp;(Eastern Time), June&nbsp;17, 2026, such owner shall be deemed, and JPMorgan will deem such owner of
ADSs to have instructed it to give a discretionary proxy to the chairman of the Meeting to vote the ordinary shares represented by your
ADSs in favor of each proposal recommended by our board of directors and against each proposal opposed by our board of directors, unless
the Company has informed JPMorgan that such proxy should not be given, in accordance with the terms of the deposit agreement.&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROPOSALS 1, 2 AND 3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ELECTION OR RE-ELECTION OF CLASS&nbsp;I DIRECTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">According to Article&nbsp;86(1)&nbsp;of
the Articles, the directors shall be divided into three classes: Class&nbsp;I, Class&nbsp;II and Class&nbsp;III. The term of office of
the directors in Class&nbsp;I shall expire at the first annual meeting of members following the effectiveness of the Articles and each
third annual meeting of members thereafter. Based on the resolutions of the Board of Directors dated July&nbsp;13, 2017, September&nbsp;10,
2018 and </FONT>June&nbsp;2, 2026, Mr.&nbsp;Bruno Lopez, Mr.&nbsp;Gary J. Wojtaszek, Mr.&nbsp;Satoshi Okada and Ms.&nbsp;Hua (Kathy) Chen
are the current Class&nbsp;I directors of the Company and, accordingly, shall retire from the office at the Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">In accordance with Article&nbsp;86(2)&nbsp;of
the Articles, by written notice to the Company, dated </FONT>May&nbsp;20, 2026, Mr.&nbsp;Bruno Lopez has been re-appointed by STT Garnet
Pte. Ltd. (&ldquo;<B>STT Garnet</B>&rdquo;) as our director, and such re-appointment will not be subject to a vote by our shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">In accordance with Article&nbsp;86(4)&nbsp;of
the Articles, by written notice to the Company, dated </FONT>May&nbsp;12 and May&nbsp;22, 2026, the holders of the Class&nbsp;B ordinary
shares have nominated Mr.&nbsp;Gary J. Wojtaszek, Mr.&nbsp;David Zhang (in lieu of Mr.&nbsp;Satoshi Okada) and Ms.&nbsp;Hua (Kathy) Chen
for appointment as our directors, and Mr.&nbsp;Gary J. Wojtaszek, Mr.&nbsp;David Zhang and Ms.&nbsp;Hua (Kathy) Chen shall be eligible
for election or re-election at the Meeting. Mr.&nbsp;Gary J. Wojtaszek, Mr.&nbsp;David Zhang and Ms.&nbsp;Hua (Kathy) Chen shall be elected
or re-elected by resolutions of the members (with the Class&nbsp;B ordinary shares having fifty (50) votes per Class&nbsp;B ordinary share
in respect of such resolutions).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Given that Mr.&nbsp;Bruno Lopez has been re-appointed pursuant to
Article&nbsp;86(2), it is only necessary for shareholders to consider resolutions for the nomination of Mr.&nbsp;Gary J. Wojtaszek,
Mr.&nbsp;David Zhang and Ms.&nbsp;Hua (Kathy) Chen as directors. The resolutions of our Board of Directors dated June&nbsp;2, 2026
approved the classification of Mr.&nbsp;Bruno Lopez, Mr.&nbsp;Gary J. Wojtaszek, Mr.&nbsp;David Zhang and Ms.&nbsp;Hua (Kathy) Chen
as Class I directors for purposes of the re-appointment, election or re-election.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr.&nbsp;Gary J. Wojtaszek, Mr.&nbsp;David Zhang and Ms.&nbsp;Hua (Kathy)
Chen have indicated that they will offer themselves for election or re-election as directors at the Meeting. Their names, ages as of June&nbsp;2026,
the principal positions currently held by each of them and their biographies are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid">Name</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Age</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Position</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; font: 10pt Times New Roman, Times, Serif; text-align: left">Mr.&nbsp;Gary J. Wojtaszek</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 16%; font: 10pt Times New Roman, Times, Serif; text-align: center">60</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 40%; font: 10pt Times New Roman, Times, Serif">Director</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Mr.&nbsp;David Zhang</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">63</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Independent Director</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Ms.&nbsp;Hua (Kathy) Chen</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">60</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Independent Director</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><I>Mr.&nbsp;Gary J. Wojtaszek</I></B></FONT>
has served as our director since June&nbsp;2018, and previously served as an observer of our board of directors beginning in October&nbsp;2017.
He brings extensive experience founding, scaling, and monetizing both private and public companies. Mr.&nbsp;Wojtaszek is the Founder
and Chief Executive Officer of RecNation, the largest institutional owner of specialized boat and RV storage facilities in the United
States. He previously served as President and Chief Executive Officer of CyrusOne,&nbsp;Inc. from August&nbsp;2011 to February&nbsp;2020,
where he led the company&rsquo;s transformation into a leading global, carrier-neutral hyperscale data center platform and one of the
top-performing REITs in the United States during his tenure. Prior to CyrusOne, Mr.&nbsp;Wojtaszek served as Chief Financial Officer and
a member of the board of Cincinnati Bell Inc., where he was responsible for the data center business and led the creation, spin-off, and
IPO of CyrusOne. Earlier in his career, he held senior financial leadership roles across the semiconductor, automotive, and education
sectors. He currently serves on the boards of Quantum Loophole, Nxtra Data Centers, and Ark data centers, and recently served on the board
of Talen Energy, where he played a key role in its restructuring and in advancing the development of a data center campus co-located with
a nuclear power facility through Cumulus Data. In March&nbsp;of 2026, he assumed the role of Executive Chairman and interim CEO of PURE
data centers based in London, England, and contemporaneously resigned as the vice-chairman and director of DayOne, headquartered in Singapore,
which he has been involved in, with inception of that company. Mr.&nbsp;Wojtaszek is an industry advisor to The Carlyle Group, Oaktree
Capital, and General Atlantic/Actis, and serves on the board of the data center engineering program at Southern Methodist University.
Mr.&nbsp;Wojtaszek holds a B.A. from Rutgers University and an M.B.A. from Columbia University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-size: 10pt"><B><I>Mr.&nbsp;David
Zhang</I></B></FONT> currently serves as an independent non-executive director of Fosun International Limited (HKSE: 00656), a global
consumer group; a non-executive director of Noah Holdings Limited (NYSE: NOAH and HKEX: 6686), a wealth management service provider; an
independent director of WeRide (Nasdaq: WRD and HKEX: 0800), a global autonomous driving technology company; and an independent director
of Morgan Stanley Securities (China) Co.,&nbsp;Ltd. Mr.&nbsp;Zhang is also a member of the Board of Trustees of Tulane University. Mr.&nbsp;Zhang
previously was a partner of Kirkland&nbsp;&amp; Ellis LLP from 2011 to 2024 in Hong Kong and managed the firm&rsquo;s Asia practice. From
2003 to 2011, Mr.&nbsp;Zhang was a partner of Latham&nbsp;&amp; Watkins LLP in Hong Kong. Mr.&nbsp;Zhang has extensive experience representing
Chinese issuers and leading investment banks in U.S. initial public offerings, Hong Kong initial public offerings and other Rule&nbsp;144A
and Regulation S offerings of equity, debt and convertible securities. Mr.&nbsp;Zhang is a member of the New York Bar. Mr.&nbsp;Zhang
received his bachelor's degree from Beijing Foreign Studies University in 1981 and J.D. from Tulane University Law School in 1991.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><I>Ms.&nbsp;Hua (Kathy) Chen</I></B></FONT>
has served as our director since May&nbsp;2026. Ms.&nbsp;Chen currently serves as managing partner and chief financial officer of SB China
Venture Capital (&ldquo;SBCVC&rdquo;), and joined SBCVC in 2010. Since September&nbsp;2010, Ms.&nbsp;Chen has served as a board member
of the China Venture Capital Finance Organization (&ldquo;CVCFO&rdquo;), a non-profit association of finance professionals in venture
capital and private equity firms across the Greater China region. From September&nbsp;2011 to May&nbsp;2023, Ms.&nbsp;Chen served as an
independent board member and chair of the audit committee of Technovator International Ltd., a Hong Kong Exchange listed company. From
2000 to 2009, Ms.&nbsp;Chen served as director and chief financial officer of Volaris Capital, a derivative products group within Credit
Suisse. From 1995 to 2000, Ms.&nbsp;Chen was a tax consulting manager at Arthur Andersen LLP and Ernst&nbsp;&amp; Young LLP. Ms.&nbsp;Chen
received bachelor&rsquo;s degrees in accounting and finance from the New York University Stern School of Business and a master&rsquo;s
degree in taxation from Fordham University. Ms.&nbsp;Chen is a U.S. Certified Public Accountant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Each director will be </FONT>elected
or re-elected by an affirmative vote of a simple majority of the votes of the holders of ordinary shares, the holders of Series&nbsp;A
convertible preferred shares and the holders of Series&nbsp;B convertible preferred shares voting as a single class present in person
or by proxy or, in the case of an ordinary shareholder, Series&nbsp;A convertible preferred shareholder or Series&nbsp;B convertible preferred
shareholder being a corporation, by its duly authorized representative and voting at the Meeting, taking into account the differing voting
rights of the Class&nbsp;A ordinary shares and Class&nbsp;B ordinary shares, as well as the Series&nbsp;A convertible preferred shares
and Series&nbsp;B convertible preferred shares as described above, where applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE BOARD OF DIRECTORS RECOMMENDS A VOTE &ldquo;FOR&rdquo; EACH
OF PROPOSALS 1, 2 <FONT STYLE="font-variant: small-caps">and</FONT> 3, THE ELECTION OR RE-ELECTION, AS APPLICABLE, OF THE NOMINEES NAMED
ABOVE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROPOSAL 4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXTENSION OF THE 2016 EQUITY INCENTIVE PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The existing 2016 Equity Incentive Plan of the Company, as previously
amended on August&nbsp;6, 2020 (the &ldquo;<B>2016 Plan</B>&rdquo; or &ldquo;<B>Plan</B>&rdquo;) is intended to enable the Company to
attract, retain and motivate directors, officers, employees and consultants and to align their interests with those of the Company&rsquo;s
shareholders. Per Section&nbsp;20 of the Plan, the 2016 Plan shall be effective as of the Effective Date (being August&nbsp;25, 2016)
and shall terminate ten (10)&nbsp;years later, subject to earlier termination by the Board pursuant to Section&nbsp;13 of the Plan. Accordingly,
the 2016 Plan will expire on August&nbsp;25, 2026, if not extended. Therefore, our Compensation Committee has recommended, and our Board
of Directors has resolved, to amend and restate the 2016 Plan with Section&nbsp;5 and Section&nbsp;20 thereof revised as follows such
that the effectiveness of the 2016 Plan shall be extended for an additional three (3)&nbsp;years, and the 2016 Plan shall remain available
for the grant of equity-based awards until August&nbsp;25, 2029, unless earlier terminated in accordance with its terms:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&ldquo;5.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Limitations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">No Award may be granted under the Plan after the
thirteenth (13th) anniversary of the Effective Date, but Awards theretofore granted may extend beyond that date.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&ldquo;20.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Effectiveness
of the Plan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The Plan shall be effective as of the Effective Date
and shall terminate thirteen (13) years later, subject to earlier termination by the Board pursuant to Section&nbsp;13 hereof.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A copy of the existing 2016 Plan was filed as Exhibit&nbsp;4.30 to
the Company&rsquo;s annual report on Form&nbsp;20-F for the fiscal year ended December&nbsp;31, 2025 (File No.&nbsp;001-37925), initially
filed with the U.S. Securities and Exchange Commission on April&nbsp;29, 2026, and can be viewed on the SEC&rsquo;s EDGAR website at <I>http://www.sec.gov</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The proposed extension would continue the Company&rsquo;s ability to
make equity-based awards under the 2016 Plan until August&nbsp;25, 2029 and, unless separately approved or otherwise permitted under the
2016 Plan, would not increase the aggregate number of shares available for issuance under the 2016 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The affirmative vote of a simple majority of the votes of the holders
of ordinary shares and the holders of Series&nbsp;A convertible preferred shares and Series&nbsp;B convertible preferred shares voting
as a single class present in person or by proxy or, in the case of an ordinary shareholder or Series&nbsp;A convertible preferred shareholder
or Series&nbsp;B convertible preferred shareholder being a corporation, by its duly authorized representative and voting at the Meeting
will be required to approve this proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE BOARD OF DIRECTORS RECOMMENDS A VOTE &ldquo;FOR&rdquo; PROPOSAL
4, THE EXTENSION OF THE 2016 EQUITY INCENTIVE PLAN.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROPOSAL 5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONFIRMATION OF APPOINTMENT OF INDEPENDENT AUDITOR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our Audit Committee recommended, and our Board of Directors has resolved,
that KPMG Huazhen LLP be appointed as our independent auditor for the fiscal year ending December&nbsp;31, 2026. KPMG Huazhen LLP has
served as our independent auditor since 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event our shareholders fail to vote in favor of the appointment,
our Audit Committee will reconsider its selection. Even if the shareholders vote in favor of the appointment, our Audit Committee in its
discretion may direct the appointment of a different independent auditing firm at any time during the year if the Audit Committee believes
that such a change would be in the best interests of the Company and shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The affirmative vote of a simple majority of the votes of the holders
of ordinary shares, the holders of Series&nbsp;A convertible preferred shares and the holders of Series&nbsp;B convertible preferred shares
voting as a single class present in person or by proxy or, in the case of an ordinary shareholder, Series&nbsp;A convertible preferred
shareholder or Series&nbsp;B convertible preferred shareholder being a corporation, by its duly authorized representative and voting at
the Meeting will be required to approve this proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE BOARD OF DIRECTORS RECOMMENDS A VOTE &ldquo;FOR&rdquo; PROPOSAL
5, THE CONFIRMATION OF THE APPOINTMENT OF KPMG HUAZHEN LLP AS OUR INDEPENDENT AUDITOR FOR FISCAL YEAR 2026.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROPOSAL 6</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AUTHORIZATION OF UP TO 30% SHARE ISSUANCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR FUTURE POTENTIAL EQUITY OFFERINGS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">According to Article&nbsp;102(4)(b)&nbsp;of the Articles, notwithstanding
anything to the contrary in the Articles, the Company and the directors shall not, without the prior approval of the shareholders by ordinary
resolution, with the Class&nbsp;B ordinary shares having only one (1)&nbsp;vote per Class&nbsp;B ordinary share in respect of such resolution,
take, approve, authorize, ratify, agree, commit to engage in or otherwise effect or consummate to allot or issue any shares or securities
of the Company equal to ten per cent. (10%) or more of the existing issued share capital of the Company or of the votes attached to the
existing issued share capital of the Company at the date of such allotment or issue in any 12-month period, whether in a single transaction
or a series of transactions (OTHER THAN any allotment or issues of shares on the exercise of any options or warrants granted by the Company
from time to time or any shares issued on the conversion by Ping An Insurance and by STT of the convertible and redeemable bonds due 2019
held by Ping An Insurance and STT respectively).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As the Company may consider various funding alternatives and opportunities
including raising capital through the equity and debt markets, in order to retain the flexibility for future share issuance, the Board
of Directors would like to obtain shareholders&rsquo; approval at the Meeting for the authorization to the Board of Directors to approve
the allotment or issuance of up to an aggregate thirty per cent. (30%) of the total issued share capital of the Company at the time of
the Meeting in the 12-month period from the date of the Meeting (other than any allotment or issues of shares on the exercise of any options
that have been granted by the Company).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The affirmative vote of a simple majority of the votes of the holders
of ordinary shares and the holders of Series&nbsp;A convertible preferred shares and Series&nbsp;B convertible preferred shares voting
as a single class present in person or by proxy or, in the case of an ordinary shareholder or Series&nbsp;A convertible preferred shareholder
or Series&nbsp;B convertible preferred shareholder being a corporation, by its duly authorized representative and voting at the Meeting
will be required to approve this proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE BOARD OF DIRECTORS RECOMMENDS A VOTE &ldquo;FOR&rdquo; PROPOSAL
6, AUTHORIZATION OF UP TO 30% SHARE ISSUANCE FOR FUTURE POTENTIAL EQUITY OFFERINGS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROPOSAL 7</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AUTHORIZATION OF DIRECTORS AND OFFICERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Proposal 7 is a general power to be granted to directors and officers
to take any and every action to implement the matters in Proposals 1 to 6.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The affirmative vote of a simple majority of the votes of the holders
of ordinary shares and the holders of Series&nbsp;A convertible preferred shares and Series&nbsp;B convertible preferred shares voting
as a single class present in person or by proxy or, in the case of an ordinary shareholder or Series&nbsp;A convertible preferred shareholder
or Series&nbsp;B convertible preferred shareholder being a corporation, by its duly authorized representative and voting at the Meeting
will be required to approve this proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE BOARD OF DIRECTORS RECOMMENDS A VOTE &ldquo;FOR&rdquo; PROPOSAL
7, THE AUTH<FONT STYLE="text-transform: uppercase">ORIZATION OF each of the directors and officers of the Company to take any and every
action that might be necessary to effect the foregoing resolutions as such director or officer, in his or her absolute discretion, thinks
fit.</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OTHER MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We know of no other matters to be submitted to the Meeting. If any
other matters properly come before the Meeting, it is the intention of the persons named in the enclosed form of proxy to vote the shares
they represent as the Board of Directors may recommend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By Order of the Board of Directors,</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">William Wei Huang</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman of the Board and</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 6; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>tm2616654d1_ex99-4.htm
<DESCRIPTION>EXHIBIT 99.4
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;99.4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="tm2616654d1_ex99-4img001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GDS HOLDINGS LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROXY CARD</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THIS PROXY CARD IS SOLICITED ON BEHALF OF THE
BOARD OF DIRECTORS OF GDS HOLDINGS LIMITED FOR AN ANNUAL GENERAL MEETING OF SHAREHOLDERS TO BE HELD ON <FONT STYLE="text-transform: uppercase">JUNE
25, 2026</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned, a holder of ____________________________Class&nbsp;A
ordinary shares, Series&nbsp;A convertible preferred shares or Series&nbsp;B convertible preferred shares (as applicable) of GDS Holdings
Limited, a Cayman Islands company (the &ldquo;<B>Company</B>&rdquo;), hereby acknowledges receipt of the notice of this annual general
meeting of shareholders of the Company (the &ldquo;<B>Meeting</B>&rdquo;) (the &ldquo;<B>Notice</B>&rdquo;) and proxy statement, and hereby
appoints</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">_________________________________________________________________
(insert name) or failing him/her, the chairman of the Meeting, with full power to each of substitution, on behalf and in the name of the
undersigned, to represent the undersigned at the Meeting to be held at Beijing Meeting Room, F5, Building C, Sunland International, No.&nbsp;999
Zhouhai Road, Pudong, Shanghai, P.R.C. at 4:00 p.m.&nbsp;(China Standard Time) on June&nbsp;25, 2026 and at any adjournment thereof, and
to vote all the aforesaid Class&nbsp;A ordinary shares, Series&nbsp;A convertible preferred shares or Series&nbsp;B convertible preferred
shares (as applicable) which the undersigned would be entitled to vote if then and there personally present, on the matters set forth
below (i)&nbsp;as specified by the undersigned below and (ii)&nbsp;in the discretion of any proxy upon such other business as may properly
come before the Meeting, all as set forth in the Notice and in the proxy statement furnished herewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>This proxy when properly executed will be voted
in the manner directed herein by the undersigned shareholder. If no direction is made, this proxy will be voted at the discretion of the
holder of the proxy &ldquo;FOR&rdquo; the following proposals:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B><U>Ordinary resolutions</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Proposal 1: Re-election of Mr.&nbsp;Gary J. Wojtaszek as
a director of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 38%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Against</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 38%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Abstain</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Proposal 2: Election of Mr.&nbsp;David Zhang as a director
of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 38%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Against</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 38%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Abstain</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Proposal 3: Re-election of Ms.&nbsp;Hua (Kathy) Chen as
a director of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 38%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Against</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 38%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Abstain</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Proposal 4: Extension of the effectiveness
of the Company&rsquo;s 2016 Equity Incentive Plan for a period of three (3)&nbsp;years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 38%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Against</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 38%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Abstain</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Proposal 5: Confirmation of the appointment
of KPMG Huazhen LLP as independent auditor of the Company for the fiscal year ending December&nbsp;31, 2026.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 38%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Against</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 38%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Abstain</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Proposal 6: Authorization of the Board
of Directors of the Company to approve allotment or issuance, in the 12-month period from the date of the Meeting, of ordinary shares
or other equity or equity-linked securities of the Company up to an aggregate thirty per cent. (30%) of its existing issued share capital
of the Company at the date of the Meeting, whether in a single transaction or a series of transactions (OTHER THAN any allotment or issues
of shares on the exercise of any options or warrants granted by the Company from time to time or any shares issued on the conversion by
Ping An Insurance and by STT of the convertible and redeemable bonds due 2019 held by Ping An Insurance and STT respectively).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 38%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Against</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 38%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Abstain</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Proposal 7: Authorization of each of
the directors and officers of the Company to take any and every action that might be necessary to effect the foregoing resolutions as
such director or officer, in his or her absolute discretion, thinks fit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 38%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Against</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center; width: 38%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Abstain</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated: ___________, 2026</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shareholder Name:</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Signature</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">This Proxy Card
must be signed by the person registered in the register of members of the Company at the close of business on June&nbsp;</FONT>4, 2026
(China Standard Time). In the case of a corporation, this Proxy Card must be executed by a duly authorized officer or attorney.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOTES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">A proxy need not be a shareholder of the Company. A shareholder entitled to attend and vote at the Meeting is entitled to appoint
one or more proxies to attend and vote in his/her stead. Please insert the name of the person(s)&nbsp;of your own choice that you wish
to appoint proxy in the space provided, failing which the chairman of the Meeting will be appointed as your proxy.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Whether or not you propose to attend the Meeting in person, you are strongly advised to complete and return this form of proxy in
accordance with these instructions. For holders of Class&nbsp;A ordinary shares registered on our branch register of members in Hong Kong,
to be valid, this form must be completed and returned by mail or by hand to Computershare Hong Kong Investor Services Limited at 17M Floor,
Hopewell Centre, 183 Queen&rsquo;s Road East, Hong Kong as soon as possible and in any event not later than 48 hours before the time for
holding the Meeting or any adjourned meeting. For holders of ordinary shares, Series&nbsp;A convertible preferred shares or Series&nbsp;B
convertible preferred shares registered on our principal register of members in the Cayman Islands, to be valid, this form must be completed
and deposited (together with any power of attorney or other authority under which it is signed or a certified copy of that power or authority)
to the attention of Cathy Zhang, GDS Holdings Limited, F4/F5, Building C, Sunland International, No.&nbsp;999 Zhouhai Road, Pudong, Shanghai
200137, P.R.C., +86-21-20292200, as soon as possible and in any event not later than 48 hours before the time for holding the Meeting
or any adjourned meeting. Returning this completed form of proxy will not preclude you from attending the Meeting and voting in person
if you so wish and in such event, the proxy shall be deemed to be revoked.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">If two or more persons are jointly registered as holders of a share, the vote of the senior person who tenders a vote, whether in
person or by proxy, shall be accepted to the exclusion of the votes of other joint holders. For this purpose, seniority shall be determined
by the order in which the names stand on the Company's register of members in respect of the relevant shares. The senior holder should
sign this form, but the names of all other joint holders should be stated on the form in the space provided.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">If this form is returned without an indication as to how the proxy shall vote, the proxy will exercise his/her discretion as to whether
he/she votes and if so how.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">This form of proxy is for use by shareholders only. If the appointor is a corporate entity this form of proxy must either be under
its seal or under the hand of some officer or attorney duly authorized for that purpose.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.</TD><TD>Any alterations made to this form must be initialed by you.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 3; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>tm2616654d1_ex99-2img001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2616654d1_ex99-2img001.jpg
M_]C_X  02D9)1@ ! 0$       #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1"  ^ *T# 2(  A$! Q$!_\0
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M_P!MS]GQ[S>R2?$SPM<3 9;*#4+5FA8G. 0"O&& [Y&3^K'QT_90_9Z_;/\
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J^']14M(% Y Y^I_^O2U184444 %%%% !1110 4444 %%%% !1110!__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>tm2616654d1_ex99-3img001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2616654d1_ex99-3img001.jpg
M_]C_X  02D9)1@ ! 0$       #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1"  [ )D# 2(  A$! Q$!_\0
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M!XCT?QA96.GW=I]NL;?4+8YTS4]4M'\VWNK8ILN'XF#$@*:]^_MP?] _4_\
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**** "BBB@#__V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>tm2616654d1_ex99-4img001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2616654d1_ex99-4img001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1"  Y *L# 2(  A$! Q$!_\0
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M"#]BM._:]^"&M>%/%/B_3?%'EZ!X/M$OM<O)[.: VMI)=VUF9 90J@&:ZB4
MG)SP:Y2']N;]GR4"ZB\975[;226HCG33)1'#974#21RAHT"NSS(B%B3\K ],
MBORH\?\ Q3^+VL?"#]N#X0?%D^ WN/ G@[P'>Z?=^$?!>F>%KK4(KSQIH\=Q
M+J=OH@L[6XB1@BJ)HW7+J=IP<>(_&'XX>+OA1_PSEI'ANZOM-\+^([/0X/$U
MG!:> KRSU2VB\/O*L:#5?"&HWVG%9D20R07L3MMV,Q!*D&MUZH_??PE^UC\#
M_&FG^*]3T'QC$]MX/\I_$ANXC";$31L\!/F,H176,G)"[A@@Y.3RZ?MO?LZW
M$FJA/B)I>-'VWMV T3%K+^S_ +63'B0EE#!LLH8 \9S7XT>#/[%\>:7^VI+)
M9!]-UWP[X&9I)=0U*U>UC&FA;R]6+PS>Z%:,;9&:8));20G9AXW3<I_-KPI\
M)/"]A#K>O>&?%M]X]=;N#17TH7-W'>1^ H8X9M5U>S6*4.(T\C5M.\P @&,C
M.0:#6WK_ %UN_3KIVN?V7^'_ (K>!?%O@ZV\=:)XCL;GPU>:9#J\6H+)&!!8
MR0K.LAP^%4H2 6XW*5R2#CQ#4OVY/V;M-M]*NI_'=I*FL2WT%@T,8EDFETR]
MFT^\7:CMN:.YMY 5&2%*'&'%?E/^S/\ #OX87GP\_:D\1^!;GXD:[\)-*T;P
MYX<\$:79?$3QQJ5G!:0>!_#VOZI:V%K<:[+;Q/:>(O$&KPW<$2+'#(AA5%1
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MN_JWU;;?FWN_^&LO)'SL-O5M^6O9;)=E%**Z119HHHH+"BBB@ HHHH ****
/"BBB@ HHHH **** /__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
