In particular, we believe that the use of Adjusted EBITDA as a supplemental performance measure captures the trend in our operating performance by excluding from our operating results the impact of our capital structure (primarily interest expense), asset base charges (primarily depreciation and amortization, operating lease cost relating to prepaid land use rights, accretion expenses for asset retirement costs and impairment losses of long-lived assets), other non-cash expenses (primarily share-based compensation expenses), and other income and expenses which we believe are not reflective of our operating performance (primarily gain or loss on deconsolidation of subsidiaries and share of results of equity method investees), whereas the use of adjusted gross profit as a supplemental performance measure captures the trend in gross profit performance of our data centers in service by excluding from our gross profit the impact of asset base charges (primarily depreciation and amortization, operating lease cost relating to prepaid land use rights and accretion expenses for asset retirement costs) and other non-cash expenses (primarily share-based compensation expenses) included in cost of revenue.
General and administrative expenses, excluding share-based compensation expenses of RMB47.6 million (US$6.6 million), depreciation and amortization expenses of RMB64.8 million (US$8.9 million) and operating lease cost relating to prepaid land use rights of RMB15.6 million (US$2.1 million), were RMB111.0 million (US$15.3 million) in the first quarter of 2025, a 3.6% decrease over the same period last year of RMB115.1 million (excluding share-based compensation expenses of RMB39.8 million, depreciation and amortization expenses of RMB70.9 million and operating lease cost relating to prepaid land use rights of RMB16.7 million).
Finally, these non-GAAP financial measures do not reflect the impact of income (loss) from discontinued operations, net interest expenses, incomes tax benefits (expenses), depreciation and amortization, operating lease cost relating to prepaid land use rights, accretion expenses for asset retirement costs, share-based compensation expenses, gain from purchase price adjustment, impairment losses of long-lived assets, gain on deconsolidation of subsidiaries and share of results of equity method investees, each of which have been and may continue to be incurred in our business.
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