GDS Holdings Limited has released a reconciliation between U.S. GAAP and IFRS for its H1 2024 financial results. The reconciliation, reviewed by KPMG, highlights key differences in accounting treatments for leases, convertible bonds, redeemable preferred shares, and long-lived asset impairment.Under IFRS, GDS reported a net loss of RMB 876.3 million for H1 2024, compared to RMB 576.7 million under U.S. GAAP. The discrepancy is mainly due to differences in lease accounting, convertible bond valuation, and treatment of redeemable preferred shares. Total assets as of June 30, 2024, were RMB 77.9 billion under IFRS, versus RMB 79.2 billion under U.S. GAAP.The company emphasized that these adjustments are for compliance with Hong Kong listing requirements and do not affect its business operations or cash flows. The reconciliation aims to provide investors with a clearer understanding of GDS's financial position under different accounting standards.

GDS Holdings Limited has released a reconciliation between U.S. GAAP and IFRS for its H1 2024 financial results. The reconciliation, reviewed by KPMG, highlights key differences in accounting treatments for leases, convertible bonds, redeemable preferred shares, and long-lived asset impairment.Under IFRS, GDS reported a net loss of RMB 876.3 million for H1 2024, compared to RMB 576.7 million under U.S. GAAP. The discrepancy is mainly due to differences in lease accounting, convertible bond valuation, and treatment of redeemable preferred shares. Total assets as of June 30, 2024, were RMB 77.9 billion under IFRS, versus RMB 79.2 billion under U.S. GAAP.The company emphasized that these adjustments are for compliance with Hong Kong listing requirements and do not affect its business operations or cash flows. The reconciliation aims to provide investors with a clearer understanding of GDS's financial position under different accounting standards.