2025年年度报告

二零二五年年度報告 2025 年度報告 2主要資料 9業務概覽74管理層討論與分析124董事、高級管理層及僱員142主要股東及關聯方交易154股東的其他信息170豁免和放棄173風險因素258釋義266獨立核數師報告372進一步資料 VIEVIEVIE202320242025VIE97.0%96.1%97.5%2006121VIEVIE VIEDayOneDayOne 20251231VIEGDSGDSGDS 6119 (2)GDS61 (3)20% (4)GDS (5)GDS (6)B-O-T VIEVIEVIEGDSGDS VIEVIE VIEVIEVIEVIE2019 VIEVIEVIEVIE VIE2025123126,248.43,753.5VIE356.551.025,891.93,702.5 VIE 2023202420251231VIE1,285.31,448.4889.0127.120251231VIE8.21.2 202320251231VIEVIE20241231VIEVIE132.0 HFCA20201218202212292023HFCAPCAOBPCAOB193420-FSECSEC 202112PCAOBHFCA2021HFCA202242820-F202112312022526SEC2022123120-FSEC001-37925202344SEC PCAOB20228PCAOB2022911PCAOB202212202120-FPCAOB20232024202520-FSEC202620-FSECPCAOBHFCAPCAOBPCAOBHFCAPCAOBSEC SECSECHFCA VIEVIEVIE DayOneDayOne 2520251231668,28393.0%73,99466.1% 5GVR ITB-O-T ITITIT20251231989ITGDS31015 2025123190664,6903,59373,99498738,6843.7202320242025123192.5%91.9%93.0%202320242025123173.9%73.8%75.5% 20239,782.4202410,322.15.5%202511,432.31,634.810.8%20233,926.02024770.980.4%2025959.4137.2EBITDA20234,733.020244,876.420255,403.5772.720232024202512319,469.86,044.45,094.7728.5 DayOne20251231DayOneCDayOne 30.1%DayOneCDayOneDayOneDayOne19.9%20251231DayOne1,250444 (i)(ii)(iii) 624312IT 2023202420251231213,640176,904165,263202420251.2%0.9% 202320242025123192.5%91.9%93.0%202320242025123173.9%73.8%75.5% ITPUEIT 20251231668,28393.0%75.5%2025123173,99466.1% 20251231 3.7 20251231670,106621,18848,918 2025123190664,69073,994983.7 •90%2NN+12NN+12NN+1N+1IT •2.342.973.05ITITIT •PUE20252020IT30%PUE1.23PUE IT • • • 501520B-O-T10 20251231B-O-T47.6%52.4% 2025123143.3%56.7% 2025123186.9%13.1% 1520 BOTBOT 2025123112B-O-T55,722100%GICB-O-T51%49%20251231B-O-T100% 202512313,593 DAYONE DayOneDigitalLand Holdings LimitedGDS InternationalGDSI20225GDSDayOneGDS 2024320245DayOneDayOne672A202410202412DayOneDayOne12BDayOneGDSDayOneABDayOne DayOne20241231BDayOne35.6%DayOneDayOne202512DayOneC201320251231DayOne30.1%2026120261DayOne385DayOne20264DayOneCDayOne22CDayOneDayOne19.9% 20251231DayOne1,250444 ITITIT IT ITBCDR IT IT •5,000 • •(i)(ii)(iii) IT ITIT ISO9001ISO20000ISO2700120169ISO 22301202011ISO 14001ISO 45001ISO 5000120229ISO277012025123129Uptime Institute(M&O)Uptime Institute 202328.3%17.1%202429.0%14.4%202529.0%12.0%10% (i)(ii)(iii)IT(iv) 20251231989ITGDS 2025123156.0%33.3%10.7%2025123137.9%11.8%10% 20251231 624312 12 202420251.2%0.9% 202320242025123118.313.218.82.7 20253199.7610202491%202592.5% 20232024123170%2025123170%80%2023123140%50%2024123150%60%2025123160%70% IT AI 20251231246219862716GDS2025123116414917gds-services.com GDSITGDSITGDS • • COSOCOSOCOSOCOSOC3COSO 20257ESG2024ESG202420257296-K001– 3792599.1 202520252025 202560%2020IT30%PUE1.2320251.52025123143 202528.57%34.48%18%32.712.3% 2025 3EExperienceExposure Education20232024202512312,3452,2762,43420251231 ITIBM AS/400CCIEVMware VCPCISP IT 999C4/5200137 202512318,696 2025123115%6(2)342(1)(b)34(2) 193410(b)20(a)20231218202425202434202431820244192024617202410920252102025613 VIEVIE 1993122919947119991225200482820051027201312282018102620231229201931520192020112019122620192020112019 2019(2024)(2024)(2024) 2019123020201120100,000300,000300,000500,000 202012192021118(i)(ii)(i)50%(ii)50%(iii) 202496(2024)2024111(2024)(2021)(2024) 200112112008910201626202232950% 20036292003101750% 2006713(i)(ii)(iii)(iv) 2021629 VIE 202441020241126202411252024112620241128(i)(ii)(iii) 20009252014729201626 2015122820152016312019662015(i)(ii)(iii)20152015TCP/IP 20093120094105201773201791(i)(ii)51%(iii) 20121130(ISP)ISP2012121 201356 GDS16GDS5GDS45(i)(ii)(iii) GDSGDS 201064 20211230<>14114114120 2003611200381 2007111 199051920201129 19951228199621 19947520078302009827201982620% 1998429200810282019423202142920204120238212,500(i)(ii)30,000300,000 201611302017212017382017482023323 2025717202591202361 •202012232025PUE1.3 •202111305G1)2025PUE1.3PUE1.252)PUE1.5330%50% •2022228PUE1.3,2025PUE1.5 •2022572,00050% •2022624 •20228222022-20252025PUE1.3 •20229302025PUE1.25 •20221221)PUE1.32)PUE1.253)PUE1.5480% •2023731)2023332)10,00020,00010,00030,00020,00030,000PUE1.31.25 1.21.153)80%4PUE1.4 •2023912PUE1.4PUE1.25 •20244232024-2027PUE1.25PUE1.45 •20244242024 – 20272027PUE1.35PUECUE •2024531PUE1.25PUE1.4 •202473202560%PUE1.510%150%2025PUE1.25PUE1.2 •2024711PUE1.4PUE1.25 •2025192025PUE1.25PUE1.221.18 •20254112025-2027 2022122220232120241292024 •20228151258 •2024127 •202473202580% •20241018 •202536203080% •20251128 20191021 2021101110%15%20%20% 20221223202412122025202511 20245232024 – 2025 2025162025 2025127 20259960%30%203035% 200012282009827 200762230 20009252011182024126200512132013716201112292012315(i)(ii) 20218202021111(PIPL)PIPL(i)(ii)PIPL 201611720251028202611 2021122820222152021730202191 202277202291(i)(ii)100(iii)11100,00010,000(iv) 2024924202511 2025113IDCIDC •2022729 •2023108 •20231225 •2024652024 •202473 •2025821+ •202594+