Got it !
Adding data-sap-ui-xx-bindingSyntax="complex" in the bootstrap solves the problem.
After adding this, I changed my code from
<Label text="{DetailModel>OrderQty}" />
to
<Label text="{path:'DetailModel>OrderQty',type:'sap.ui.model.type.Float'}" />
![format.jpg]()
Regards,
Firoz.