Summary by Moomoo AI
GDS Holdings Limited, a company registered in the Cayman Islands and operating in Hong Kong, announced its unaudited financial performance for the third quarter ending September 30, 2024 on November 19, 2024. The company is listed on the Nasdaq Global Market in the USA and the Hong Kong Stock Exchange with stock codes GDS and 9698, respectively. In the third quarter, net revenue increased by 17.7% year-on-year to RMB 2,965.7 million, net loss reduced to RMB 231.1 million, adjusted EBITDA increased by 15.0% year-on-year to RMB 1,295.7 million. The total contracted and pre-leased area increased by 20.2% year-on-year, operational area increased by 16.8%, and the occupancy rate of the operational area was 92.7%. The company confirmed its total revenue guidance for 2024 to be between RMB 11,340 million and RMB 11,760 million, and adjusted EBITDA to be maintained at RMB 4,950 million to RMB 5,150 million. Additionally, on October 29, 2024, the company announced that its international affiliate, GDS International, reached a final agreement with institutional private equity investors to subscribe to USD 1 billion of newly issued Series B convertible preferred shares by GDSI.
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