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PROPERTY AND EQUIPMENT, NET

9 Months Ended

Sep. 30, 2024

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET

5. PROPERTY AND EQUIPMENT, NET

Property and equipment, including those held under finance leases, consisted of the following:

​

​	​	​	​	​
​	​	As of
​		December 31, 2023	​	September 30, 2024
​	​	RMB	​	RMB
At cost:
Property		2,672,822		3,772,847
Leasehold improvements		5,821,394		5,996,383
Computer and network equipment		8,437,075		10,008,760
Optical fibers		142,723		142,723
Office equipment		93,543		100,243
Motor vehicles		3,937		3,937
​		17,171,494		20,024,893
Less: Accumulated depreciation		(6,987,542)		(7,713,091)
​		10,183,952		12,311,802
Construction-in-progress		3,444,237		3,444,905
Impairment		(603,796)		(603,454)
Property and equipment, net		13,024,393		15,153,253

​

Depreciation expense was RMB1,214,168 and RMB1,066,483 for the nine months ended September 30, 2023 and 2024, respectively, and were included in the following captions:

​

​	​	​	​	​
​	​	For the nine months periods
​	​	ended September 30,
​		2023		2024
​	​	RMB	​	RMB
Cost of revenues		1,147,638		1,021,616
Sales and marketing expenses		1,377		937
General and administrative expenses		28,189		23,680
Research and development expenses		36,964		20,250
​		1,214,168		1,066,483

​

5. PROPERTY AND EQUIPMENT, NET (CONTINUED)

The carrying amounts of the Company’s property and equipment held under finance leases at respective balance sheet dates were as follows:

​

​	​	​	​	​
​	​	As of
​		December 31, 2023	​	September 30, 2024
​	​	RMB	​	RMB
Property		993,158		1,018,459
Computer and network equipment		648,989		941,513
Optical fibers		137,924		137,924
​		1,780,071		2,097,896
Less: Accumulated depreciation		(709,209)		(821,390)
​		1,070,862		1,276,506
Construction-in-progress		219,283		—
Impairment		(19,361)		(19,136)
​		1,270,784		1,257,370

​

Depreciation of property, computer and network equipment and optical fibers under finance leases was RMB149,395 and RMB112,181 for the nine months periods ended September 30, 2023 and 2024, respectively.

The carrying amounts of property and equipment pledged by the Company to secure borrowings (Note 10) granted to the Company at the respective balance sheet dates were as follows:

​

​	​	​	​	​
​	​	As of
​		December 31, 2023	​	September 30, 2024
​	​	RMB	​	RMB
Property		155,239		370,759
Leasehold improvements		246,662		224,669
Computer and network equipment		442,167		399,180
Office equipment		1,829		1,429

​

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/360/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-7

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