GDS Holdings Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	14,306	7,935	7,394	8,766	11,982
Cash & Short-Term Investments	14,306	7,935	7,394	8,766	11,982
Cash Growth	80.29%	7.32%	-15.65%	-26.84%	-26.70%
Accounts Receivable	2,467	3,022	2,493	2,496	1,732
Other Current Assets	1,774	656.05	1,094	887.84	749.58
Total Current Assets	18,547	11,613	10,981	11,951	14,464
Net Property, Plant & Equipment	42,885	45,398	45,409	52,551	44,654
Other Intangible Assets	16.12	502.89	710.68	1,070	1,888
Goodwill	5,461	5,886	5,886	7,077	7,076
Long-Term Investments	10,052	7,545	7.3	-	-
Other Long-Term Assets	3,036	2,550	11,452	2,157	3,551
Total Assets	79,998	73,649	74,447	74,814	71,632
Accounts Payable	1,932	2,593	2,750	3,093	3,902
Accrued Expenses	1,437	1,298	1,145	1,017	2,680
Short-Term Debt	2,952	4,342	2,582	5,708	5,948
Current Portion of Leases	807.28	753.5	680.66	629.6	844.88
Unearned Revenue	-	90.98	119.69	156.13	90.99
Other Current Liabilities	-	-	1,027	-	-
Total Current Liabilities	7,128	9,078	8,305	10,603	13,465
Long-Term Debt	35,508	30,483	31,523	27,813	20,180
Long-Term Leases	8,257	8,881	9,238	10,534	10,817
Other Long-Term Liabilities	1,368	1,538	5,256	1,679	1,274
Total Long-Term Liabilities	45,133	40,902	46,017	40,026	32,271
Total Liabilities	52,261	49,980	54,323	50,629	45,736
Common Stock	0.56	0.53	0.52	0.52	0.51
Additional Paid-in Capital	31,706	29,506	29,397	29,049	28,983
Accumulated Other Comprehensive Income	-829.32	-1,094	-973.79	-3,180	-599.19
Retained Earnings	-5,095	-6,044	-9,470	-6,145	-3,911
Total Common Shareholders' Equity	25,783	22,368	18,954	19,724	24,474
Minority Interest	1,954	1,300	1,170	1,164	1,422
Shareholders' Equity	27,737	23,669	20,124	20,888	25,896
Total Liabilities & Equity	79,998	73,649	74,447	74,814	71,632
Total Debt	47,524	44,460	44,024	44,685	37,790
Net Cash (Debt)	-33,218	-36,525	-36,630	-35,918	-25,808
Net Cash Per Share	-161.59	-198.09	-	-	-
Book Value	25,783	22,368	18,954	19,724	24,474
Book Value Per Share	125.42	121.31	-	-	-
Tangible Book Value	20,306	15,979	12,357	11,577	15,510
Tangible Book Value Per Share	98.78	86.66	-	-	-

Updated Mar 17, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q