• 21Vianet Group, Inc. Reports Unaudited Second Quarter 2021 Financial Results

    Источник: Nasdaq GlobeNewswire / 24 авг 2021 16:00:00   America/Chicago

    BEIJING, Aug. 25, 2021 (GLOBE NEWSWIRE) -- 21Vianet Group, Inc. (Nasdaq: VNET) ("21Vianet" or the "Company"), a leading carrier- and cloud-neutral Internet data center services provider in China, today announced its unaudited financial results for the second quarter ended June 30, 2021. The Company will hold a conference call at 8:00 P.M. on Tuesday, August 24, 2021, U.S. Eastern Time to discuss the financial results. Dial-in details are provided at the end of this release.

    Second Quarter 2021 Financial Highlights

    • Net revenues in the second quarter of 2021 increased by 30.8% to RMB1.50 billion (US$231.9 million) from RMB1.14 billion in the same period of 2020.
    • Adjusted cash gross profit (non-GAAP) in the second quarter of 2021 increased by 36.9% to RMB640.2 million (US$99.2 million) from RMB467.6 million in the same period of 2020. Adjusted cash gross margin (non-GAAP) in the second quarter of 2021 was 42.8%, compared to 40.9% in the same period of 2020.
    • Adjusted EBITDA (non-GAAP) in the second quarter of 2021 increased by 38.7% to RMB425.1 million (US$65.8 million) from RMB306.4 million in the same period of 2020. Adjusted EBITDA margin (non-GAAP) in the second quarter of 2021 was 28.4%, compared to 26.8% in the same period of 2020.

    Second Quarter 2021 Operational Highlights

    • Total cabinets under management net increased by 6,950 to 62,876, as of June 30, 2021, compared to 55,926 as of March 31, 2021, and 44,050 as of June 30, 2020.
    • Retail IDC MRR1 per cabinet was RMB9,015, compared to RMB8,953 in the same period of 2020 and RMB9,144 in the first quarter of 2021.
    • Compound utilization rate was 59.9%, compared to 61.7% in the first quarter of 2021.
      • Utilization rate for mature IDCs, which consisted of IDC deliveries prior to and during 2019, was 76.3%, compared to a utilization rate for mature IDCs of 73.9% in the first quarter of 2021.
      • Utilization rate for ramp-up and newly-built IDCs, which consisted of IDC deliveries in 2020 and 2021, was 29.2%, compared to a utilization rate for ramp-up and newly-built IDCs of 30.6% in the first quarter of 2021.

    _______________________
    1     Retail IDC MRR: Refers to Monthly Recurring Revenues for the retail IDC business.

    Mr. Samuel Shen, Chief Executive Officer and Executive Chairman of Retail IDC, stated, “We are delighted to report another strong quarter. Our dual-core growth engine, diversified customer base, and strong IDC market demand continued to fuel organic growth in our cabinet deliveries for the first half of 2021. Based on our leading market position and dual-core growth engine of retail and wholesale IDC solutions, we are confident that we will acquire more customers from various sectors, further diversify our revenue streams, sustain our growth, and generate lasting shareholder value going forward.”

    Mr. Tim Chen, Chief Financial Officer of the Company, commented, “In the second quarter, our net revenues and adjusted EBITDA rose by 30.8% and 38.7% year over year respectively, both exceeding the high end of our previously announced guidance range. Leveraging our strong balance sheet and dual-core growth strategy, we are well-positioned to further capitalize on robust IDC market demand and endorsements from a number of diversified customers to strengthen our leading position in the IDC market and accelerate growth in the quarters ahead.”

    Second Quarter 2021 Financial Results

    NET REVENUES: Net revenues in the second quarter of 2021 increased by 30.8% to RMB1.50 billion (US$231.9 million) from RMB1.14 billion in the second quarter of 2020, representing an increase of 7.9% from RMB1.39 billion in the first quarter of 2021. This increase was mainly due to the increased revenue from both wholesale and retail IDC customers, as well as the growth of revenue from cloud business.

    GROSS PROFIT: Gross profit in the second quarter of 2021 was RMB359.5 million (US$55.7 million), representing an increase of 32.0% from RMB272.3 million in the same period of 2020 and an increase of 11.2% from RMB323.3 million in the first quarter of 2021. Gross margin in the second quarter of 2021 was 24.0%, compared to 23.8% in the same period of 2020 and 23.3% in the first quarter of 2021. The increase in gross margin was primarily attributable to the Company’s continued efforts in improving operational efficiency.

    ADJUSTED CASH GROSS PROFIT, which excludes depreciation, amortization, and share-based compensation expenses, was RMB640.2 million (US$99.2 million) in the second quarter of 2021, compared to RMB467.6 million in the same period of 2020 and RMB605.3 million in the first quarter of 2021. Adjusted cash gross margin in the second quarter of 2021 was 42.8%, compared to 40.9% in the same period of 2020 and 43.6% in the first quarter of 2021.

    OPERATING EXPENSES: Total operating expenses in the second quarter of 2021 were RMB262.5 million (US$40.7 million), compared to RMB193.5 million in the same period of 2020 and RMB243.2 million in the first quarter of 2021. As a percentage of net revenues, total operating expenses in the second quarter of 2021 were 17.5%, compared to 16.9% in the same period of 2020 and 17.5% in the first quarter of 2021.

    Sales and marketing expenses in the second quarter of 2021 were RMB59.6 million (US$9.2 million), compared to RMB51.7 million in the same period of 2020 and RMB74.0 million in the first quarter of 2021.

    Research and development expenses in the second quarter of 2021 were RMB38.3 million (US$5.9 million), compared to RMB23.7 million in the same period of 2020 and RMB33.6 million in the first quarter of 2021.

    General and administrative expenses in the second quarter of 2021 were RMB154.2 million (US$23.9 million), compared to RMB119.5 million in the same period of 2020 and RMB135.2 million in the first quarter of 2021.

    ADJUSTED OPERATING EXPENSES, which exclude share-based compensation expenses and impairment of loan receivable to potential investee, were RMB235.6 million (US$36.5 million) in the second quarter of 2021, compared to RMB182.5 million in the same period of 2020 and RMB212.5 million in the first quarter of 2021. As a percentage of net revenues, adjusted operating expenses in the second quarter of 2021 were 15.7%, compared to 15.9% in the same period of 2020 and 15.3% in the first quarter of 2021.

    ADJUSTED EBITDA: Adjusted EBITDA in the second quarter of 2021 was RMB425.1 million (US$65.8 million), representing an increase of 38.7% from RMB306.4 million in the same period of 2020 and an increase of 2.4% from RMB415.1 million in the first quarter of 2021. Adjusted EBITDA in the second quarter of 2021 excluded share-based compensation expenses of RMB27.5 million (US$4.3 million). Adjusted EBITDA margin in the second quarter of 2021 was 28.4%, compared to 26.8% in the same period of 2020 and 29.9% in the first quarter of 2021.

    NET PROFIT/LOSS: Net profit attributable to ordinary shareholders in the second quarter of 2021 was RMB455.9 million (US$70.6 million), compared to a net loss of RMB2.12 billion in the same period of 2020 and a net loss of RMB84.7 million in the first quarter of 2021. Net profit attributable to ordinary shareholders in the second quarter of 2021 mainly included changes in the fair value of convertible promissory notes of RMB424.1 million (US$65.7 million) due to the drop in the Company’s stock price.

    PROFIT PER SHARE: Basic and diluted profit per share were RMB0.52 (US$0.08) and RMB0.04 (US$0.01) in the second quarter of 2021, respectively, which represent the equivalent of RMB3.12 (US$0.48) and RMB0.24 (US$0.06) per American depositary share ("ADS"), respectively. Each ADS represents six Class A ordinary shares. Diluted profit per share is calculated using net profit attributable to ordinary shareholders divided by the weighted average number of diluted shares outstanding.

    As of June 30, 2021, the aggregate amount of the Company's cash and cash equivalents, restricted cash, and short-term investments was RMB5.03 billion (US$779.7 million).

    Net cash generated from operating activities in the second quarter of 2021 was RMB314.8 million (US$48.8 million), compared to RMB161.8 million in the same period of 2020 and RMB274.5 million in the first quarter of 2021.

    Financial Outlook

    For the third quarter of 2021, the Company expects net revenues to be in the range of RMB1.53 billion to RMB1.55 billion. Adjusted EBITDA is expected to be in the range of RMB420 million to RMB440 million.

    For the full year of 2021, the Company expects net revenues to be in the range of RMB6.10 billion to RMB6.30 billion. Adjusted EBITDA is expected to be in the range of RMB1.68 billion to RMB1.78 billion. The midpoints of the Company’s updated estimates imply an increase of 28.4% and 30.7% year over year in net revenues and adjusted EBITDA, respectively.

    The forecast reflects the Company’s current and preliminary views on the market and its operational conditions, which do not factor in any of the potential future impacts caused by the ongoing COVID-19 pandemic, and are subject to change.

    Conference Call

    The Company will hold a conference call at 8:00 P.M. on Tuesday, August 24, 2021, U.S. Eastern Time, or 8:00 A.M. on Wednesday, August 25, 2021 Beijing Time, to discuss the financial results.

    In advance of the conference call, all participants must use the following link to complete the online registration process to receive a unique registrant ID and a set of participant dial-in numbers to join the conference call.

    Conference ID:5585337
    Registration Link:http://apac.directeventreg.com/registration/event/5585337
      
    The replay will be accessible through September 1, 2021, by dialing the following numbers:
      
    United States Toll Free:+1-855-452-5696
    International: +61-2-8199-0299
    Conference ID:5585337

    A live and archived webcast of the conference call will be available through the Company's investor relations website at http://ir.21vianet.com.

    Non-GAAP Disclosure

    In evaluating its business, 21Vianet considers and uses the following non-GAAP measures defined as non-GAAP financial measures by the Securities and Exchange Commission as a supplemental measure to review and assess its operating performance: adjusted cash gross profit, adjusted cash gross margin, adjusted operating expenses, adjusted EBITDA and adjusted EBITDA margin. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of GAAP and non-GAAP results" set forth at the end of this press release.

    The non-GAAP financial measures are provided as additional information to help investors compare business trends among different reporting periods on a consistent basis and to enhance investors' overall understanding of the Company's current financial performance and prospects for the future. These non-GAAP financial measures should be considered in addition to results prepared in accordance with U.S. GAAP, but should not be considered a substitute for, or superior to, U.S. GAAP results. In addition, the Company's calculation of the non-GAAP financial measures may be different from the calculation used by other companies, and therefore comparability may be limited.

    Exchange Rate

    This announcement contains translations of certain RMB amounts into U.S. dollars (“USD”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to USD were made at the rate of RMB6.4566 to US$1.00, the noon buying rate in effect on June 30, 2021, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or USD amounts referred could be converted into USD or RMB, as the case may be, at any particular rate or at all. For analytical presentation, all percentages are calculated using the numbers presented in the financial statements contained in this earnings release.

    Statement Regarding Unaudited Condensed Financial Information

    The unaudited financial information set forth above is preliminary and subject to potential adjustments. Adjustments to the consolidated financial statements may be identified when audit work has been performed for the Company's year-end audit, which could result in significant differences from this preliminary unaudited condensed financial information.

    About 21Vianet

    21Vianet Group, Inc. is a leading carrier- and cloud-neutral Internet data center services provider in China. 21Vianet provides hosting and related services, including IDC services, cloud services, and business VPN services to improve the reliability, security and speed of its customers' Internet infrastructure. Customers may locate their servers and equipment in 21Vianet's data centers and connect to China's Internet backbone. 21Vianet operates in more than 20 cities throughout China, servicing a diversified and loyal base of over 6,000 hosting and related enterprise customers that span numerous industries ranging from Internet companies to government entities and blue-chip enterprises to small- to mid-sized enterprises.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," “target,” "believes," "estimates" and similar statements. Among other things, quotations from management in this announcement as well as 21Vianet's strategic and operational plans contain forward-looking statements. 21Vianet may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about 21Vianet's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: 21Vianet's goals and strategies; 21Vianet's expansion plans; the expected growth of the data center services market; expectations regarding demand for, and market acceptance of, 21Vianet's services; 21Vianet's expectations regarding keeping and strengthening its relationships with customers; 21Vianet's plans to invest in research and development to enhance its solution and service offerings; and general economic and business conditions in the regions where 21Vianet provides solutions and services. Further information regarding these and other risks is included in 21Vianet's reports filed with, or furnished to, the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and 21Vianet undertakes no duty to update such information, except as required under applicable law.

    Investor Relations Contacts:

    21Vianet Group, Inc.
    Xinyuan Liu
    +86 10 8456 2121
    IR@21Vianet.com

    Julia Jiang
    +86 10 8456 2121
    IR@21Vianet.com

    ICR, LLC
    Robin Yang
    +1 (646) 405-4922
    IR@21Vianet.com


     
    21VIANET GROUP, INC.
    CONSOLIDATED BALANCE SHEETS
    (Amount in thousands of Renminbi (“RMB”) and US dollars (“US$”))
     As of  As of
     December 31, 2020  June 30, 2021
     RMB  RMB  US$ 
     (Audited)  (Unaudited)  (Unaudited) 
    Current assets:        
    Cash and cash equivalents2,710,349  4,603,653  713,015 
    Restricted cash270,450  286,303  44,343 
    Accounts and notes receivable, net847,233  1,243,053  192,524 
    Short-term investments285,872  12,920  2,001 
    Prepaid expenses and other current assets1,866,184  1,819,808  281,853 
    Amounts due from related parties75,519  73,595  11,398 
    Total current assets6,055,607  8,039,332  1,245,134 
             
    Non-current assets:        
    Property and equipment, net8,106,425  8,473,036  1,312,306 
    Intangible assets, net658,195  641,252  99,317 
    Land use rights, net255,373  305,276  47,281 
    Operating lease right-of-use assets, net1,325,526  1,279,138  198,113 
    Goodwill994,993  994,993  154,105 
    Restricted cash135,638  131,534  20,372 
    Deferred tax assets185,481  183,407  28,406 
    Long-term investments135,517  115,515  17,891 
    Amounts due from related parties20,562  -  - 
    Other non-current assets1,500,438  1,720,502  266,472 
    Total non-current assets13,318,148  13,844,653  2,144,263 
    Total assets19,373,755  21,883,985  3,389,397 
             
    Liabilities and Shareholders' Equity        
    Current liabilities:        
    Short-term bank borrowings34,000  -  - 
    Accounts and notes payable289,387  432,257  66,948 
    Accrued expenses and other payables1,631,563  1,443,884  223,629 
    Advances from customers1,041,594  980,088  151,796 
    Deferred revenue63,245  63,311  9,806 
    Income taxes payable29,028  35,992  5,574 
    Amounts due to related parties51,007  2,595  402 
    Current portion of long-term borrowings180,328  233,448  36,156 
    Current portion of finance lease liabilities403,843  389,000  60,248 
    Current portion of deferred government grant2,074  2,074  321 
    Current portion of bonds payable1,943,619  1,932,905  299,369 
    Current portion of operating lease liabilities452,272  372,007  57,617 
    Total current liabilities6,121,960  5,887,561  911,866 
             
    Non-current liabilities:        
    Long-term borrowings886,996  1,593,557  246,811 
    Convertible promissory notes3,014,057  4,732,739  733,008 
    Non-current portion of finance lease liabilities688,128  1,071,404  165,939 
    Unrecognized tax benefits68,696  71,835  11,126 
    Deferred tax liabilities299,093  293,632  45,478 
    Non-current portion of deferred government grant4,100  3,196  495 
    Amounts due to related parties747,746  -  - 
    Non-current portion of operating lease liabilities645,499  946,898  146,656 
    Total non-current liabilities6,354,315  8,713,261  1,349,513 
             
    Shareholders' equity        
    Treasury stock(349,523) (349,523) (54,134)
    Ordinary shares56  59  9 
    Additional paid-in capital13,083,119  14,995,378  2,322,488 
    Accumulated other comprehensive loss(55,535) (63,254) (9,797) 
    Statutory reserves74,462  74,462  11,533 
    Accumulated deficit(7,235,113) (7,721,978) (1,195,982)
    Series A perpetual convertible preferred shares1,047,468  -  - 
    Total 21Vianet Group, Inc. shareholders’ equity6,564,934  6,935,144  1,074,117 
    Noncontrolling interest332,546  348,019  53,901 
    Total shareholders' equity6,897,480  7,283,163  1,128,018 
    Total liabilities and shareholders' equity19,373,755  21,883,985  3,389,397 
             


    21VIANET GROUP, INC.
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (Amount in thousands of Renminbi (“RMB”) and US dollars (“US$”) except for number of shares and per share data)
             
     Three months ended
    		  Six months ended
    		 
     June 30, 2020  March 31, 2021  June 30, 2021     June 30, 2020  June 30, 2021    
     RMB  RMB  RMB  US$  RMB  RMB  US$ 
     (Unaudited)  (Unaudited)  (Unaudited)  (Unaudited)  (Unaudited)  (Unaudited)  (Unaudited) 
    Net revenues1,144,061  1,386,923  1,496,978  231,852  2,234,858  2,883,901  446,659 
    Cost of revenues(871,729) (1,063,611) (1,137,463) (176,171) (1,728,415) (2,201,074) (340,903)
    Gross profit272,332  323,312  359,515  55,681  506,443  682,827  105,756 
                         
    Operating expenses                    
    Sales and marketing(51,652) (73,976) (59,589) (9,229) (100,362) (133,565) (20,687)
    Research and development(23,665) (33,565) (38,296) (5,931) (44,649) (71,861) (11,130)
    General and administrative(119,494) (135,246) (154,243) (23,889) (244,696) (289,489) (44,836)
    Reversal (allowance) for doubtful debt1,338  (393) (7,527) (1,166) (1,183) (7,920) (1,227)
    Impairment of loan receivable to potential investee-  -  (2,816) (436) -  (2,816) (436)
    Total operating expenses(193,473) (243,180) (262,471) (40,651) (390,890) (505,651) (78,316)
                         
    Operating profit78,859  80,132  97,044  15,030  115,553  177,176  27,440 
    Interest income11,713  5,709  8,103  1,255  21,095  13,812  2,139 
    Interest expense(102,742) (84,479) (87,095) (13,489) (205,000) (171,574) (26,573)
    Other income8,197  2,172  5,263  815  9,056  7,435  1,152 
    Other expense(2,158) (3,422) (11,872) (1,839) (23,991) (15,294) (2,369)
    Changes in the fair value of convertible promissory notes(1,612,054) (8,641) 424,107  65,686  (1,612,054) 415,466  64,347 
    Foreign exchange gain (loss)275  (33,846) 78,026  12,085  (41,472) 44,180  6,843 
    (Loss) gain before income tax and loss from equity method investments(1,617,910) (42,375) 513,576  79,543  (1,736,813) 471,201  72,979 
    Income tax expenses(20,410) (37,299) (29,499) (4,569) (42,896) (66,798) (10,346)
    Loss from equity method investments(10,457) (1,305) (23,605) (3,656) (6,590) (24,910) (3,858)
    Net (loss) profit(1,648,777) (80,979) 460,472  71,318  (1,786,299) 379,493  58,775 
    Net gain attributable to noncontrolling interest(3,573) (3,680) (4,620) (716) (4,814) (8,300) (1,286)
    Net (loss) profit attributable to 21Vianet Group, Inc(1,652,350) (84,659) 455,852  70,602  (1,791,113) 371,193  57,489 
    Deemed distribution to Series A perpetual convertible preferred shareholders(470,643) -  -  -  (470,643) -  - 
    Net (loss) profit attributable to the Company’s ordinary shareholders(2,122,993) (84,659) 455,852  70,602  (2,261,756) 371,193  57,489 
                         
    (Loss) profit per share                    
    Basic(3.21) (0.10) 0.52  0.08  (3.42) 0.42  0.07 
    Diluted(3.21) (0.10) 0.04  0.01  (3.42) (0.05) (0.01)
    Shares used in (loss) profit per share computation                    
    Basic*660,949,226  860,540,297  869,645,966  869,645,966  660,543,890  863,960,057  863,960,057 
    Diluted*660,949,226  860,540,297  905,446,557  905,446,557  660,543,890  905,136,178  905,136,178 
                         
    (Loss) profit per ADS (6 ordinary shares equal to 1 ADS)                    
    Basic(19.26) (0.60) 3.12  0.48  (20.52) 2.52  0.42 
    Diluted(19.26) (0.60) 0.24  0.06  (20.52) (0.30) (0.06)
             
    * Shares used in (loss) profit per share/ADS computation were computed under weighted average method.     
             


    21VIANET GROUP, INC.
    RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
    (Amount in thousands of Renminbi (“RMB”) and US dollars (“US$”))
             
     Three months ended
    		  Six months ended
    		 
     June 30, 2020  March 31, 2021  June 30, 2021     June 30, 2020  June 30, 2021    
     RMB  RMB  RMB  US$  RMB  RMB  US$ 
    Gross profit272,332  323,312  359,515  55,681  506,443  682,827  105,756 
    Plus: depreciation and amortization194,651  277,851  277,288  42,946  377,207  555,139  85,980 
    Plus: share-based compensation expenses569  4,126  3,444  533  1,029  7,570  1,172 
    Adjusted cash gross profit467,552  605,289  640,247  99,160  884,679  1,245,536  192,908 
    Adjusted cash gross margin40.9% 43.6% 42.8% 42.8% 39.6% 43.2% 43.2%
             
    Operating expenses(193,473) (243,180) (262,471) (40,651) (390,890) (505,651) (78,316)
    Plus: share-based compensation expenses11,005  30,729  24,063  3,727  30,633  54,792  8,486 
    Plus: impairment of loan receivable to potential investee-  -  2,816  436  -  2,816  436 
    Adjusted operating expenses(182,468) (212,451) (235,592) (36,488) (360,257) (448,043) (69,394)
                         
    Operating profit78,859  80,132  97,044  15,030  115,553  177,176  27,440 
    Plus: depreciation and amortization215,981  300,105  297,738  46,114  418,588  597,843  92,594 
    Plus: share-based compensation expenses11,574  34,855  27,507  4,260  31,662  62,362  9,659 
    Plus: impairment of loan receivable to potential investee-  -  2,816  436  -  2,816  436 
    Adjusted EBITDA306,414  415,092  425,105  65,840  565,803  840,197  130,129 
    Adjusted EBITDA margin26.8% 29.9% 28.4% 28.4% 25.3% 29.1% 29.1%
             


    21VIANET GROUP, INC.
    CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
    (Amount in thousands of Renminbi (“RMB”) and US dollars (“US$”))
         
     Three months ended
    		 
     June 30, 2020  March 31, 2021  June 30, 2021    
     RMB  RMB  RMB  US$ 
     (Unaudited)  (Unaudited)  (Unaudited)  (Unaudited) 
    CASH FLOWS FROM OPERATING ACTIVITIES           
    Net (loss) profit(1,648,777) (80,979) 460,472  71,318 
    Adjustments to reconcile net (loss) profit to net cash generated from operating activities:           
        Depreciation and amortization215,981  300,105  297,738  46,114 
        Stock-based compensation expenses11,574  34,855  27,507  4,260 
        Others1,776,114  186,399  (344,711) (53,389)
    Changes in operating assets and liabilities    
        Accounts and notes receivable(79,036) (203,432) (198,696) (30,774)
        Prepaid expenses and other current assets(126,703) (195,171) 324,091  50,195 
        Accounts and notes payable(37,021) 108,832  34,035  5,271 
        Accrued expenses and other payables41,951  123,047  (1,761) (273)
        Deferred revenue(18,731) (4,162) 4,228  655 
        Advances from customers29,340  119,045  (180,551) (27,964)
        Others(2,905) (114,086) (107,546) (16,657)
    Net cash generated from operating activities161,787  274,453  314,806  48,756 
                
    CASH FLOWS FROM INVESTING ACTIVITIES           
    Purchases of property and equipment(478,231) (675,486) (430,071) (66,610)
    Purchases of intangible assets(15,707) (7,522) (17,672) (2,737)
    Proceeds from investments68,989  61,432  139,711  21,638 
    Proceeds from (payments for) other investing activities9,484  761  (214,308) (33,192)
    Net cash used in investing activities(415,465) (620,815) (522,340) (80,901)
                
    CASH FLOWS FROM FINANCING ACTIVITIES           
    Proceeds from bank borrowings219,978  718,636  33,623  5,208 
    Repayments of bank borrowings(16,000) (34,000) (30,300) (4,693)
    Payments for finance lease(73,165) (110,480) (241,709) (37,436)
    Proceed from issuance of convertible promissory notes509,577  3,797,090  -  - 
    Proceed from Series A perpetual convertible preferred shares1,058,325  -  -  - 
    Payment for shares repurchase-  -  (1,701,807) (263,576)
    Proceeds from (payments for) other financing activities107,796  (29,387) 52,418  8,120 
    Net cash generated from (used in) financing activities1,806,511  4,341,859  (1,887,775) (292,377)
         
    Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 10,778  65,770  (60,905) (9,433)
    Net increase (decrease) in cash, cash equivalents and restricted cash1,563,610  4,061,267  (2,156,214) (333,955)
    Cash, cash equivalents and restricted cash at beginning of period3,258,757  3,116,437  7,177,704  1,111,685 
    Cash, cash equivalents and restricted cash at end of period4,822,367  7,177,704  5,021,490  777,730 
                

Опубликовать