VNET [21Vianet] 6-K: 21Vianet Group, Inc. Reports Unaudited Third Quarter 2019

Ticker: VNET, Company: 21Vianet Group, Inc., Type: 6-K, Date: 2019-11-19
Original SEC Filing: Click here


Webplus: VNET/20191119/6-K_1/2_EX-99.1/000.htm SEC Original: d105252dex991.htm
21Vianet Group, Inc. Reports Unaudited Third Quarter 2019 Financial Results BEIJING, November 18, 2019 (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 third quarter ended September 30, 2019. The Company will hold a conference call at



EX-99.1 2 d105252dex991.htm EX-99.1

Exhibit 99.1

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21Vianet Group, Inc. Reports Unaudited Third Quarter 2019 Financial Results

BEIJING, November 18, 2019 (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 third quarter ended September 30, 2019. The Company will hold a conference call at 8:00 P.M. on Monday, November 18, 2019, U.S. Eastern Time to discuss the financial results. Dial-in details are provided at the end of this release.

Third Quarter 2019 Financial Highlights

Net revenues increased by 12.7% year over year to RMB981.0 million (US$137.2 million).

Adjusted EBITDA (non-GAAP) increased by 11.1% year over year to RMB272.5 million (US$38.1 million). Adjusted EBITDA margin was 27.8%, compared to 28.2% in the same period of 2018.

Net cash generated from operating activities was RMB103.0 million (US$14.4 million) compared to RMB260.7 million in the same period of 2018.

Third Quarter 2019 Operational Highlights

Hosting MRR1 per cabinet was RMB8,711 in the third quarter of 2019 compared to RMB8,384 in the third quarter of 2018 and RMB8,663 in the second quarter of 2019.

Total cabinets under management was 32,116 as of September 30, 2019, compared to 30,303 as of September 30, 2018, and 31,111 as of June 30, 2019. As of September 30, 2019, the Company had 27,267 cabinets in its self-built data centers and 4,849 cabinets in its partnered data centers.

Utilization rate was 66.2% in the third quarter of 2019, compared to 66.0% in the second quarter of 2019.

Mr. Alvin Wang, Chief Executive Officer and President of the Company, stated, “In the third quarter, both our revenues and adjusted EBITDA exceeded the high end of our previous guidance range. This strong performance was attributable to our elevated value propositions and increased partnerships across industry sectors. We also continued to refine our product offerings and expand our capacity pipeline in response to the increasing demands for scalable and dependable IT solutions amid the current network transformation. Such advances were in sync with our three-year growth plan, increasing the appeal of our offerings to large-scale partners like Alibaba and enabling us to explore new opportunities for cooperation with a diverse group of retail clients through our innovative services. With the right solutions, rich industry knowledge, and a highly-experienced team in place, we are confident in our ability to generate superior, sustainable shareholder value in the long term.”

Ms. Sharon Liu, Chief Financial Officer of the Company, commented, “During the third quarter, our revenues increased by 12.7% year over year and our adjusted EBITDA increased by 11.1% year over year, driven by the expanding scope of corporate digitalization across China. We also continued to actively engage in dialogues with our clients to remain at the vanguard of industry trends, better position ourselves to secure additional business opportunities, and ramp up our cabinet deliveries, which further contributed to our healthy cash position in the period.”

1

Hosting MRR: Refers to Monthly Recurring Revenues for the hosting business.


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Third Quarter 2019 Financial Results

REVENUES: Net revenues increased by 12.7% to RMB981.0 million (US$137.2 million) in the third quarter of 2019 from RMB870.1 million in the same period of 2018 and increased by 10.5% from RMB888.0 million in the second quarter of 2019. The year-over-year increase was primarily attributable to the growing domestic demand for data centers, driven by the expanding scope of corporate digitalization across China.

GROSS PROFIT: Gross profit was RMB222.6 million (US$31.1 million) in the third quarter of 2019, compared to RMB241.2 million in the same period of 2018 and RMB228.2 million in the second quarter of 2019. Gross margin was 22.7% in the third quarter of 2019, compared to 27.7% in the same period of 2018 and 25.7% in the second quarter of 2019. The year-over-year decrease was mainly due to the introduction of certain lower-margin products and higher rent and utility costs, and partially due to the delivery of additional pipeline capacity.

ADJUSTED CASH GROSS PROFIT, which excludes depreciation, amortization, and share-based compensation expenses, increased by 1.2% to RMB396.7 million (US$55.5 million) in the third quarter of 2019 from RMB391.9 million in the same period of 2018 and decreased by 1.8% from RMB403.8 million in the second quarter of 2019. Adjusted cash gross margin was 40.4% in the third quarter of 2019, compared to 45.0% in the same period of 2018 and 45.5% in the second quarter of 2019.

OPERATING EXPENSES:Total operating expenses decreased by 11.0% to RMB157.1 million (US$22.0 million) in the third quarter of 2019 from RMB176.6 million in the same period of 2018 and decreased by 6.6% from RMB168.2 million in the second quarter of 2019. As a percentage of net revenues, total operating expenses reduced to 16.0% in the third quarter of 2019 from 20.3% in the same period of 2018 and 18.9% in the second quarter of 2019. The reduction of operating expenses as a percentage of net revenues was primarily due to the Company’s continuous efforts in maximizing its operating efficiency and operating leverage.

Sales and marketing expenses were RMB52.4 million (US$7.3 million) in the third quarter of 2019, an increase of 31.3% from RMB39.9 million in the same period of 2018 and an increase of 12.4% from RMB46.6 million in the second quarter of 2019. The increase of sales and marketing expenses was mainly attributable to increased marketing activities.

Research and development expenseswere RMB22.5 million (US$3.2 million) in the third quarter of 2019 compared to RMB24.3 million in the same period of 2018 and RMB18.8 million in the second quarter of 2019.

General and administrative expenses were RMB82.2 million (US$11.5 million) in the third quarter of 2019 compared to RMB110.2 million in the same period of 2018 and RMB102.3 million in the second quarter of 2019. The decrease was mainly attributable to the Company’s continuous efforts in maximizing its operating efficiency.


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ADJUSTED OPERATING EXPENSES, which exclude share-based compensation expenses and changes in the fair value of contingent purchase consideration payables, decreased by 10.2% to RMB146.2 million (US$20.5 million) in the third quarter of 2019 from RMB162.9 million in the same period of 2018 and decreased by 9.3% from RMB161.3 million in the second quarter of 2019. As a percentage of net revenues, adjusted operating expenses decreased to 14.9% in the third quarter of 2019 from 18.7% in the same period of 2018 and 18.2% in the second quarter of 2019.

ADJUSTED EBITDA:Adjusted EBITDA in the third quarter of 2019 increased by 11.1% to RMB272.5 million (US$38.1 million) from RMB245.2 million in the same period of 2018 and increased by 4.5% from RMB260.7 million in the second quarter of 2019. Adjusted EBITDA in the third quarter of 2019 excluded share-based compensation expenses of RMB11.3 million (US$1.6 million). Adjusted EBITDA margin was 27.8% in the third quarter of 2019, compared to 28.2% in the same period of 2018 and 29.4% in the second quarter of 2019.

NET PROFIT/LOSS: Net loss attributable to ordinary shareholders in the third quarter of 2019 was RMB69.5 million (US$9.7 million) compared to RMB29.6 million in the same period of 2018 and RMB102.1 million in the second quarter of 2019. Net loss attributable to ordinary shareholders in the third quarter of 2019 included a foreign exchange loss of RMB40.2 million (US$5.6 million) compared to RMB55.0 million in the same period of 2018 and RMB39.9 million in the second quarter of 2019, and an interest expense of RMB96.9 million (US$13.6 million) compared to RMB60.8 million in the same period of 2018 and RMB91.2 million in the second quarter of 2019.

PROFIT/LOSS PER SHARE:Basic and diluted loss per share were RMB0.10 (US$ 1 cent) in the third quarter of 2019, which represents the equivalent of RMB0.60 (US$6 cent) per American Depositary Share (“ADS”). Each ADS represents six ordinary shares. Diluted loss per share is calculated using net loss attributable to ordinary shareholders divided by the weighted average number of diluted shares outstanding.

As of September 30, 2019, the Company’scash and cash equivalents, restricted cash, and short-term investments were RMB2.94 billion (US$411.9 million).

Net cash generated from operating activities was RMB103.0 million (US$14.4 million) in the third quarter of 2019 compared to RMB260.7 million in the same period of 2018 and RMB127.1 million in the second quarter of 2019.

Recent Development

The Company signed a memorandum of understanding (the “MoU”) with Alibaba Group (“Alibaba”) on October 14, 2019. As part of the MoU, the Company will deploy IDC services to support Alibaba in its expansion throughout Eastern China. The project will be deployed in two phases. The first phase expects to complete construction and cabinet deliveries by the first half of 2020. During the term of the project contract, the first phase is expected to generate revenue of RMB1.6 billion.

Financial Outlook

For the fourth quarter of 2019, the Company expects net revenues to be in the range of RMB1,030 million to RMB1,050 million. Adjusted EBITDA is expected to be in the range of RMB245 million to RMB265 million.


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For the full year of 2019, the Company expects net revenues to be in the range of RMB3,771 million to RMB3,791 million. Adjusted EBITDA is expected to be in the range of RMB1,033 million to RMB1,053 million. The midpoints of the Company’s updated estimates imply an increase of 11.2% year over year in total revenues and an increase of 13.6% year over year in adjusted EBITDA.

The forecast reflects the Company’s current and preliminary view on the market and its operational conditions, which is subject to change.

Conference Call

The Company will hold a conference call at 8:00 P.M. on Monday, November 18, 2019, U.S. Eastern Time, or 9:00 A.M. on Tuesday, November 19, 2019, Beijing Time, to discuss the financial results.

Participants may access the call by dialing the following numbers:

United States Toll Free:

+1-866-519-4004
International: +65-6713-5090
China Domestic: 400-620-8038
Hong Kong: +852-3018-6771
Conference ID: 8777175

The replay will be accessible through November 26, 2019, by dialing the following numbers:

United States Toll Free:

+1-855-452-5696
International: +61-2-8199-0299
Conference ID: 8777175

A live and archived webcast of the conference call will be available through the Company’s investor relation website athttp://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 SEC as a supplemental measure to review and assess its operating performance: adjusted cash gross profit, adjusted cash gross margin, adjusted operating expenses, adjusted EBITDA, 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.


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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 RMB7.1477 to US$1.00, the noon buying rate in effect on September 30, 2019, 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 30 cities throughout China, servicing a diversified and loyal base of nearly 5,000 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.


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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,” “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.

Rene Jiang

+86 10 8456 2121

IR@21Vianet.com

Julia Jiang

+86 10 8456 2121

IR@21Vianet.com

ICR, Inc.

Jack Wang

+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
December 31, 2018

As of

September 30, 2019

RMB RMB US$
(Audited) (Unaudited) (Unaudited)

Assets

Current assets:

Cash and cash equivalents

2,358,556 2,092,427 292,741

Restricted cash

265,214 426,385 59,653

Accounts and notes receivable, net

524,305 806,502 112,834

Short-term investments

245,014 356,104 49,821

Prepaid expenses and other current assets

1,159,574 1,549,337 216,760

Amounts due from related parties

125,446 414,925 58,050

Total current assets

4,678,109 5,645,680 789,859

Non-current assets:

Property and equipment, net

4,031,242 4,945,021 691,834

Intangible assets, net

355,313 422,754 59,145

Land use rights, net

147,493 144,806 20,259

Operating leaseright-of-use assets, net

746,311 104,413

Goodwill

989,530 989,530 138,440

Long-term investments

544,323 194,968 27,277

Amounts due from related parties

34,424 38,860 5,437

Restricted cash

37,251 69,297 9,695

Deferred tax assets

159,441 173,768 24,311

Othernon-current assets

173,591 272,419 38,113

Totalnon-current assets

6,472,608 7,997,734 1,118,924

Total assets

11,150,717 13,643,414 1,908,783

Liabilities and Shareholders’ Equity

Current liabilities:

Short-term bank borrowings

50,000 230,000 32,178

Accounts and notes payable

389,508 332,451 46,512

Accrued expenses and other payables

659,320 1,066,569 149,219

Deferred revenue

57,754 61,016 8,536

Advances from customers

670,037 996,064 139,354

Income taxes payable

13,111 40,844 5,714

Amounts due to related parties

52,328 113,698 15,907

Current portion of long-term bank borrowings

75,284 29,000 4,057

Current portion of capital lease obligations

219,695 180,033 25,188

Current portion of deferred government grant

4,173 3,048 426

Operating lease liabilities - current

187,854 26,282

Total current liabilities

2,191,210 3,240,577 453,373

Non-current liabilities:

Long-term borrowings

112,000 96,000 13,431

Amounts due to related parties

504,478 519,834 72,727

Unrecognized tax benefits

6,677 4,131 578

Deferred tax liabilities

157,720 204,573 28,621

Non-current portion of capital lease obligations

765,993 715,248 100,067

Non-current portion of deferred government grant

11,619 7,578 1,060

Bonds payable

2,037,836 3,007,973 420,831

Operating lease liabilities - non current

559,704 78,305

Totalnon-current liabilities

3,596,323 5,115,041 715,620

Shareholders’ equity

Treasury stock

(337,683 ) (337,683 ) (47,244 )

Ordinary shares

46 46 6

Additionalpaid-in capital

9,141,494 9,087,046 1,271,324

Accumulated other comprehensive gain

85,979 126,776 17,737

Statutory reserves

42,403 43,838 6,134

Accumulated deficit

(3,838,032 ) (4,005,343 ) (560,368 )

Total 21Vianet Group, Inc. shareholders’ equity

5,094,207 4,914,680 687,589

Noncontrolling interest

268,977 373,116 52,201

Total shareholders’ equity

5,363,184 5,287,796 739,790

Total liabilities and shareholders’ equity

11,150,717 13,643,414 1,908,783


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 Nine months ended
September 30, 2018 June 30, 2019 September 30, 2019 September 30, 2018 September 30, 2019
RMB RMB RMB US$ RMB RMB US$
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited)

Net revenues

870,068 888,020 980,969 137,243 2,499,150 2,740,848 383,459

Cost of revenues

(628,873 ) (659,772 ) (758,414 ) (106,106 ) (1,800,620 ) (2,049,270 ) (286,703 )

Gross profit

241,195 228,248 222,555 31,137 698,530 691,578 96,756

Operating expenses

Sales and marketing

(39,918 ) (46,626 ) (52,399 ) (7,331 ) (122,966 ) (143,121 ) (20,023 )

Research and development

(24,333 ) (18,790 ) (22,518 ) (3,150 ) (68,526 ) (63,872 ) (8,936 )

General and administrative

(110,243 ) (102,341 ) (82,156 ) (11,494 ) (331,674 ) (305,293 ) (42,712 )

(Allowance) reversal for doubtful debt

(643 ) (457 ) (6 ) (1 ) 1,839 (485 ) (68 )

Changes in the fair value of contingent purchase consideration payables

(1,413 ) (4,623 )

Total operating expenses

(176,550 ) (168,214 ) (157,079 ) (21,976 ) (525,950 ) (512,771 ) (71,739 )

Operating profit

64,645 60,034 65,476 9,161 172,580 178,807 25,017

Interest income

13,484 12,389 15,379 2,152 30,972 39,619 5,543

Interest expense

(60,766 ) (91,202 ) (96,936 ) (13,562 ) (163,636 ) (257,580 ) (36,037 )

Gain on deconsolidation of subsidiaries

4,843

Other income

8,436 8,958 2,187 306 50,983 14,220 1,989

Other expense

(137 ) (4,177 ) (127 ) (18 ) (2,228 ) (4,362 ) (610 )

Foreign exchange loss

(55,024 ) (39,853 ) (40,192 ) (5,623 ) (83,543 ) (50,507 ) (7,066 )

Loss on debt extinguishment

(17,804 ) (969 ) (136 ) (18,773 ) (2,626 )

(Loss) gain before income taxes and loss from equity method investments

(29,362 ) (71,655 ) (55,182 ) (7,720 ) 9,971 (98,576 ) (13,790 )

Income tax benefits (expenses)

7,624 (9,343 ) (10,039 ) (1,405 ) (70,761 ) (30,123 ) (4,213 )

Loss from equity method investments

(6,156 ) (18,277 ) (1,078 ) (151 ) (27,904 ) (30,293 ) (4,238 )

Net loss

(27,894 ) (99,275 ) (66,299 ) (9,276 ) (88,694 ) (158,992 ) (22,241 )

Net profit attributable to noncontrolling interest

(1,739 ) (2,785 ) (3,157 ) (442 ) (2,309 ) (6,884 ) (963 )

Net loss attributable to ordinary shareholders

(29,633 ) (102,060 ) (69,456 ) (9,718 ) (91,003 ) (165,876 ) (23,204 )

Loss per share

Basic

(0.04 ) (0.15 ) (0.10 ) (0.01 ) (0.13 ) (0.24 ) (0.03 )

Diluted

(0.04 ) (0.15 ) (0.10 ) (0.01 ) (0.13 ) (0.24 ) (0.03 )

Shares used in loss per share computation

Basic*

676,327,014 677,802,980 679,135,837 679,135,837 674,723,544 678,359,403 678,359,403

Diluted*

676,327,014 677,802,980 679,135,837 679,135,837 674,723,544 678,359,403 678,359,403

Loss per ADS (6 ordinary shares equal to 1 ADS)

Basic

(0.24 ) (0.90 ) (0.60 ) (0.06 ) (0.78 ) (1.44 ) (0.18 )

Diluted

(0.24 ) (0.90 ) (0.60 ) (0.06 ) (0.78 ) (1.44 ) (0.18 )

*

Shares used in (loss) profit per share/ADS computation were computed under weighted average method.


21VIANET GROUP, INC.

RECONCILIATIONS OF GAAP ANDNON-GAAP RESULTS

(Amount in thousands of Renminbi (“RMB”) and US dollars (“US$”))

Three months ended Nine months ended
September 30, 2018 June 30, 2019 September 30, 2019 September 30, 2018 September 30, 2019
RMB RMB RMB US$ RMB RMB US$

Gross profit

241,195 228,248 222,555 31,137 698,530 691,578 96,756

Plus: depreciation and amortization

150,056 175,102 173,712 24,303 403,900 514,235 71,944

Plus: share-based compensation expenses

689 459 464 65 996 1,397 195

Adjusted cash gross profit

391,940 403,809 396,731 55,505 1,103,426 1,207,210 168,895

Adjusted cash gross margin

45.0 % 45.5 % 40.4 % 40.4 % 44.2 % 44.0 % 44.0 %

Operating expenses

(176,550 ) (168,214 ) (157,079 ) (21,976 ) (525,950 ) (512,771 ) (71,739 )

Plus: share-based compensation expenses

12,240 6,932 10,833 1,516 29,342 33,930 4,747

Plus: changes in the fair value of contingent purchase consideration payables

1,413 4,623

Adjusted operating expenses

(162,897 ) (161,282 ) (146,246 ) (20,460 ) (491,985 ) (478,841 ) (66,992 )

Operating profit

64,645 60,034 65,476 9,161 172,580 178,807 25,017

Plus: depreciation and amortization

166,244 193,302 195,729 27,383 454,847 572,563 80,105

Plus: share-based compensation expenses

12,929 7,391 11,297 1,581 30,338 35,327 4,942

Plus: changes in the fair value of contingent purchase consideration payables

1,413 4,623

Adjusted EBITDA

245,231 260,727 272,502 38,125 662,388 786,697 110,064

Adjusted EBITDA margin

28.2 % 29.4 % 27.8 % 27.8 % 26.5 % 28.7 % 28.7 %


21VIANET GROUP, INC.

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Amount in thousands of Renminbi (“RMB”) and US dollars (“US$”))

Three months ended
September 30, 2018 June 30, 2019 September 30, 2019
RMB RMB RMB US$
(Unaudited) (Unaudited) (Unaudited) (Unaudited)

CASH FLOWS FROM OPERATING ACTIVITIES

Net loss

(27,894 ) (99,275 ) (66,299 ) (9,276 )

Adjustments to reconcile net loss to net cash generated from operating activities:

Depreciation and amortization

166,244 193,302 195,729 27,383

Stock-based compensation expenses

12,929 7,391 11,297 1,581

Others

41,616 69,061 33,913 4,744

Changes in operating assets and liabilities

Accounts and notes receivable

(34,113 ) (119,144 ) (133,929 ) (18,737 )

Prepaid expenses and other current assets

(37,448 ) (50,381 ) (84,332 ) (11,798 )

Accounts and notes payable

37,690 14,644 (60,121 ) (8,411 )

Accrued expenses and other payables

(19,359 ) 9,996 105,076 14,701

Deferred revenue

11,154 936 16,138 2,258

Advances from customers

114,528 125,227 103,772 14,518

Others

(4,632 ) (24,647 ) (18,259 ) (2,554 )

Net cash generated from operating activities

260,715 127,110 102,985 14,409

CASH FLOWS FROM INVESTING ACTIVITIES

Purchases of property and equipment

(123,027 ) (208,520 ) (448,614 ) (62,763 )

Purchases of intangible assets

(4,032 ) (6,990 ) (8,278 ) (1,158 )

Payments for investments

(196,319 ) (127,148 ) (320,660 ) (44,862 )

Proceeds from other investing activities

18,061 11,575 162,811 22,778

Net cash used in investing activities

(305,317 ) (331,083 ) (614,741 ) (86,005 )

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from short-term bank borrowings

200,000 27,981

Repayment of long-term bank borrowings

(27,779 ) (44,331 ) (6,202 )

Repayment of short-term bank borrowings

Payments for capital lease

(50,996 ) (66,316 ) (83,274 ) (11,650 )

Repurchase of 2020 Notes

(1,021,539 ) (126,553 ) (17,705 )

Proceeds from issuance of 2021 Notes

2,012,084

Payment of Issurance cost of 2021 Notes

(35,427 ) (183 ) (26 )

Proceeds from (payments for) other financing activities

328,801 (3,542 ) 88 12

Net cash generated from (used in) financing activities

277,805 857,481 (54,253 ) (7,590 )

Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash

63,580 56,386 68,718 9,614

Net increase (decrease) in cash, cash equivalents and restricted cash

296,783 709,894 (497,291 ) (69,572 )

Cash, cash equivalents and restricted cash at beginning of period

2,439,152 2,375,506 3,085,400 431,663

Cash, cash equivalents and restricted cash at end of period

2,735,935 3,085,400 2,588,109 362,091


Webplus: VNET/20191119/6-K_1/1/000.htm SEC Original: d105252d6k.htm
21Vianet Group, Inc. By : Name : Sharon Xiao Liu Title : Chief Financial Officer 6-K 1 d105252d6k.htm FORM 6-K



6-K 1 d105252d6k.htm FORM 6-K


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

21Vianet Group, Inc.
By :

/s/ Sharon Xiao Liu

Name : Sharon Xiao Liu
Title : Chief Financial Officer

Date: November 19, 2019


Exhibit Index

Exhibit 99.1 — Press Release

Company Info:

Ticker: VNET, Company: 21Vianet Group, Inc., Type: 6-K, Date: 2019-11-19CIK: 0001508475, Location: F4, SIC: 7370, SIC Desc: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC.
Business Phone & Address:
M5, 1JIUXIANQIAO EAST ROAD, Chaoyang District
Beijing 100016

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By | 2019-11-20T04:32:01+00:00 November 19th, 2019|Categories: Chinese Stocks, VNET, Webplus ver|Tags: , , , , , |0 Comments

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