Company: GDHLF
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001410578-25-000935
Chunk: 265

Company: GDS Holdings Ltd
Filing Date: 2025-04-28
Form: 20-F
Item: Item 5
Chunk 265
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 of Net  
                                               RMB                                          Revenue          RMB       Revenue          RMB         US$       Revenue  
                                               (in thousands, except for percentages)                                                                                  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Cost of revenue                              97,055                                           1.0      116,467           1.2       92,402      12,659           0.9  
  Selling and marketing expenses               41,685                                           0.4       43,765           0.4       25,033       3,430           0.2  
  General and administrative expenses          146,781                                          1.6      162,866           1.7      165,648      22,694           1.6  
  Research and development expenses            5,294                                            0.1        9,546           0.1        9,207       1,261           0.1  
  Others, net                                  —                                                0.0        3,972           0.0        4,197         575           0.1  
  Total share-based compensation expenses      290,815                                          3.1      336,616           3.4      296,487      40,619           2.9  

We incurred less share-based compensation expenses in 2024 as compared to 2023 due to less share awards granted in line with the strategy of cost saving and a decrease in fair value of restricted shares. We expect to continue to grant share options, restricted shares and other share-based awards under our share incentive plan and incur further share-based compensation expenses in future periods.

See “ - E. Critical Accounting Policies and Estimates - Share-based Compensation” in this section for a description of how we account for the compensation cost from share-based payment transactions.

Overview - Discontinued Operations

DayOne has total power committed of 469 MW as of December 31, 2024. Power capacity in service, power capacity under construction and power utilized was 132 MW, 369 MW and 123 MW, respectively, as of December 31, 2024.

                                   As of December 31,             
  (MW)                                           2023       2024  
 ──────────────────────────────────────────────────────────────────
  Power In Service                                 75        132