GDS Holdings Limited (9698) has announced a general meeting of Series A convertible preferred shareholders to be held at 5:00 p.m. (China Standard Time) on February 24, 2026, in Shanghai. The meeting aims to consider a proposal to amend the rights of the company’s Class B ordinary shares, which are held by founder and Chief Executive Officer William Wei Huang.

According to the announcement, Mr. Huang beneficially owns 46,139,704 ordinary shares, equivalent to 2.8% of the total issued share capital as of December 31, 2025. Currently, Class B ordinary shares carry twenty votes each, contingent on Mr. Huang’s holding not falling below 2.75% of the company’s total share capital. The proposal seeks to increase the voting power of Class B shares from twenty votes to fifty votes per share.

The stated objective is to more clearly demonstrate control by Chinese nationals, a requirement that certain customers have cited for regulatory compliance. Specifically, some major customers in financial and internet sectors have imposed conditions to work only with data center providers that meet domestic control requirements.

The board of directors considers this proposed change an enhancement of the existing weighted voting rights structure and notes it does not materially affect governance because Mr. Huang already has the ability to appoint a majority of board members. The date set for determining holders of Series A convertible preferred shares eligible to vote is February 9, 2026, and only shareholders on record at that time may vote on the matter at the meeting.

The company’s announcement includes additional information on the voting process and relevant legal details. Shareholders can find further particulars in the notice and proxy materials on GDS Holdings Limited’s website.