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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Cash & Equivalents	14,306	7,868	7,355	8,608
Cash & Short-Term Investments	14,306	7,868	7,355	8,608
Cash Growth	81.83%	6.97%	-14.56%	-
Accounts Receivable	2,467	3,022	2,493	2,406
Other Current Assets	1,774	723.46	1,136	936.92
Total Current Assets	18,548	11,613	10,984	11,951
Net Property, Plant & Equipment	42,902	45,419	45,432	52,574
Other Intangible Assets	-	481.11	688.29	1,048
Goodwill	5,461	5,886	5,886	7,077
Long-Term Investments	10,052	7,545	7.3	-
Other Long-Term Assets	3,036	2,704	11,450	2,165
Total Assets	79,999	73,649	74,447	74,814
Accounts Payable	1,932	2,593	2,750	3,093
Accrued Expenses	1,437	1,298	1,145	1,017
Current Portion of Long-Term Debt	2,952	4,342	2,582	5,708
Current Portion of Leases	807.28	753.5	680.66	629.6
Unearned Revenue	-	90.98	119.89	156.13
Other Current Liabilities	-	-	1,027	-
Total Current Liabilities	7,128	9,078	8,305	10,603
Long-Term Debt	35,508	30,483	31,523	27,813
Long-Term Leases	8,257	8,881	9,238	10,534
Other Long-Term Liabilities	1,368	1,538	5,256	1,679
Total Long-Term Liabilities	45,133	40,902	46,017	40,026
Total Liabilities	52,261	49,980	54,323	50,629
Common Stock	0.56	0.53	0.52	0.52
Additional Paid-in Capital	31,707	29,596	29,337	29,049
Accumulated Other Comprehensive Income	-829.32	-1,094	-974.39	-848.36
Retained Earnings	-5,095	-6,044	-9,470	-5,180
Total Common Shareholders' Equity	25,783	22,458	18,894	23,021
Minority Interest	1,954	1,211	1,230	1,164
Shareholders' Equity	27,737	23,669	20,124	24,185
Total Liabilities & Equity	79,999	73,649	74,447	74,814
Total Debt	47,524	44,460	44,024	44,685
Net Cash (Debt)	-33,218	-36,592	-36,670	-36,077
Net Cash Per Share	-161.59	-198.45	-199.81	-197.08
Book Value	25,783	22,458	18,894	23,021
Book Value Per Share	125.42	121.80	102.95	125.76
Tangible Book Value	20,322	16,091	12,319	14,897
Tangible Book Value Per Share	98.86	87.27	67.12	81.38

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

SEC Filings: 10-K · 10-Q