21Vianet Group, Inc. Reports Unaudited Second Quarter 2018 Financial Results
Adjusted EBITDA up 103.6% YoY to
Adjusted EBITDA margin expanded to 26.7%
Raised full year guidance for both net revenues and adjusted EBITDA
Second Quarter 2018 Financial Highlights (including hosting and related services & MNS1 business)
- Revenues from hosting and related services increased by 11.4% year over year to
RMB828.3 million (US$125.2 million ). - Adjusted cash gross margin expanded to 43.9% from 38.2% in the same period of 2017.
- Operating profit improved to
RMB51.5 million from an operating loss ofRMB80.6 million in the same period of 2017. - Adjusted EBITDA increased by 103.6% year over year to
RMB221.1 million (US$33.4 million ). Adjusted EBITDA margin expanded to 26.7% from 12.4% in the same period of 2017. - Net cash generated from operating activities was
RMB111.4 million (US$16.8 million ) in the second quarter of 2018 compared toRMB87.2 million in the same period of 2017.
The financial results of the same period 2017 included those from both the hosting and related services business and the MNS business. The year-over-year improvement was partially driven by the disposal of the MNS business in
Second Quarter 2018 Operational Highlights
- Hosting MRR2 per cabinet increased to
RMB8,271 in the second quarter of 2018 compared toRMB7,697 in the second quarter of 2017 andRMB7,905 in the first quarter of 2018. - Total cabinets under management increased slightly to 29,149 as of
June 30, 2018 from 29,035 as ofMarch 31, 2018 . As ofJune 30, 2018 , the Company had 24,167 cabinets in its self-built data centers and 4,982 cabinets in its partnered data centers. - Utilization rate was 71.1% in the second quarter of 2018 compared to 70.0% in the first quarter of 2018.
______________
1MNS: Refers to managed network services.
2Hosting MRR: Refers to Monthly Recurring Revenues for the hosting business.
Mr.
Ms.
Second Quarter 2018 Financial Results
To fully reflect the Company’s performance, all analysis between “REVENUES” and “ADJUSTED EBITDA” presents only the results of the hosting and related service business. The MNS business, which was disposed of in the third quarter of 2017, is excluded.
REVENUES: Net revenues increased by 11.4% to
GROSS PROFIT: Gross profit increased by 3.6% to
ADJUSTED CASH GROSS PROFIT, which excludes depreciation, amortization, and share-based compensation expenses, increased by 14.4% to
OPERATING EXPENSES: Total operating expenses increased by 3.0% to
Adjusted operating expenses, which exclude share-based compensation expenses and changes in the fair value of contingent purchase consideration payable, increased by 1.2% to
Sales and marketing expenses were
Research and development expenses were
General and administrative expenses were
ADJUSTED EBITDA: Adjusted EBITDA for the second quarter of 2018 increased by 29.1% to
NET PROFIT/LOSS: Net loss for the second quarter of 2018 was
PROFIT/LOSS PER SHARE: Basic and diluted loss per share was
As of
Net cash generated from operating activities was
Recent Developments
In
In
On
Financial Outlook
For the third quarter of 2018, the Company expects net revenues to be in the range of
Based on solid first half 2018 results, the Company is raising its full year 2018 guidance for both net revenues and adjusted EBITDA. For the full year, the Company now expects net revenues to be in the range of
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
Participants may access the call by dialing the following numbers: | ||||||
United States Toll Free: | +1-855-500-8701 | |||||
International: | +65-6713-5440 | |||||
China Domestic: | 400-120-0654 | |||||
Hong Kong: | +852-3018-6776 | |||||
Conference ID: | 4288535 | |||||
The replay will be accessible through August 24, 2018 by dialing the following numbers: | ||||||
United States Toll Free: | +1-855-452-5696 | |||||
International: | +61-2-9003-4211 | |||||
Conference ID: | 4288535 |
A live and archived webcast of the conference call will be available through the Company's investor relation 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
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
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
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
Investor Relations Contacts:
+86 10 8456 2121
IR@21Vianet.com
+86 10 8456 2121
IR@21Vianet.com
+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, 2017 |
June 30, 2018 |
|||||
RMB | RMB | US$ | ||||
(Audited) | (Unaudited) | (Unaudited) | ||||
Assets | ||||||
Current assets: | ||||||
Cash and cash equivalents | 1,949,631 | 2,150,173 | 324,942 | |||
Restricted cash | 242,494 | 285,590 | 43,159 | |||
Accounts and notes receivable, net | 455,811 | 536,642 | 81,099 | |||
Short-term investments | 548,890 | 218,370 | 33,001 | |||
Inventories | 710 | 174 | 26 | |||
Prepaid expenses and other current assets | 933,750 | 1,057,177 | 159,765 | |||
Amount due from related parties | 114,256 | 121,922 | 18,425 | |||
Total current assets | 4,245,542 | 4,370,048 | 660,417 | |||
Non-current assets: | ||||||
Property and equipment, net | 3,319,424 | 3,392,168 | 512,637 | |||
Intangible assets, net | 401,115 | 372,375 | 56,275 | |||
Land use rights, net | 163,671 | 149,287 | 22,561 | |||
Goodwill | 989,530 | 989,530 | 149,541 | |||
Long-term investments | 510,926 | 505,299 | 76,363 | |||
Amount due from related parties | 20,210 | 20,385 | 3,081 | |||
Restricted cash | 3,344 | 3,389 | 512 | |||
Deferred tax assets | 172,818 | 129,249 | 19,533 | |||
Other non-current assets | 81,581 | 143,416 | 21,674 | |||
Total non-current assets | 5,662,619 | 5,705,098 | 862,177 | |||
Total assets | 9,908,161 | 10,075,146 | 1,522,594 | |||
Liabilities and Shareholders' Equity | ||||||
Current liabilities: | ||||||
Short-term bank borrowings | 50,000 | 69,999 | 10,579 | |||
Accounts and notes payable | 252,892 | 287,987 | 43,522 | |||
Accrued expenses and other payables | 657,133 | 582,317 | 88,002 | |||
Deferred revenue | 55,753 | 41,465 | 6,266 | |||
Advances from customers | 403,244 | 475,541 | 71,865 | |||
Income taxes payable | 13,309 | 29,650 | 4,481 | |||
Amounts due to related parties | 55,675 | 54,795 | 8,281 | |||
Current portion of long-term bank borrowings | 70,289 | 60,643 | 9,165 | |||
Current portion of capital lease obligations | 201,315 | 217,271 | 32,835 | |||
Current portion of deferred government grant | 4,574 | 4,574 | 691 | |||
Current portion of bonds payable | 11,139 | 11,729 | 1,773 | |||
Total current liabilities | 1,775,323 | 1,835,971 | 277,460 | |||
Non-current liabilities: | ||||||
Long-term bank borrowings | 187,638 | 169,331 | 25,590 | |||
Amounts due to related parties | - | 46,416 | 7,015 | |||
Unrecognized tax benefits | 16,511 | 22,322 | 3,373 | |||
Deferred tax liabilities | 190,873 | 184,829 | 27,932 | |||
Non-current portion of capital lease obligations | 600,882 | 673,336 | 101,757 | |||
Non-current portion of deferred government grant | 17,861 | 14,314 | 2,163 | |||
Bonds payable | 1,918,069 | 1,947,608 | 294,330 | |||
Total non-current liabilities | 2,931,834 | 3,058,156 | 462,160 | |||
Shareholders' equity | ||||||
Treasury stock | (337,683 | ) | (337,683 | ) | (51,032 | ) |
Ordinary shares | 46 | 46 | 7 | |||
Additional paid-in capital | 8,980,407 | 9,004,633 | 1,360,813 | |||
Accumulated other comprehensive loss | (2,673 | ) | 17,854 | 2,698 | ||
Statutory reserves | 38,736 | 39,441 | 5,960 | |||
Accumulated deficit | (3,629,300 | ) | (3,691,375 | ) | (557,854 | ) |
Total 21Vianet Group, Inc. shareholders’ equity | 5,049,533 | 5,032,916 | 760,592 | |||
Noncontrolling interest | 151,471 | 148,103 | 22,382 | |||
Total shareholders' equity | 5,201,004 | 5,181,019 | 782,974 | |||
Total liabilities and shareholders' equity | 9,908,161 | 10,075,146 | 1,522,594 | |||
21VIANET GROUP, INC. | |||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
(Amount in thousands of Renminbi (“RMB”) and US dollars (“US$”) except for number of shares and per share data) | |||||||||||||||
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June 30, 2017 |
March 31, 2018 |
June 30, 2018 |
June 30, 2017 |
June 30, 2018 |
|||||||||||
RMB | RMB | RMB | US$ | RMB | RMB | US$ | |||||||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||
Net revenues | |||||||||||||||
Hosting and related services | 743,398 | 800,765 | 828,317 | 125,178 | 1,450,109 | 1,629,082 | 246,193 | ||||||||
Managed network services | 135,281 | - | - | - | 290,747 | - | - | ||||||||
Total net revenues | 878,679 | 800,765 | 828,317 | 125,178 | 1,740,856 | 1,629,082 | 246,193 | ||||||||
Cost of revenues | (690,716 | ) | (572,863 | ) | (598,884 | ) | (90,506 | ) | (1,372,416 | ) | (1,171,747 | ) | (177,079 | ) | |
Gross profit | 187,963 | 227,902 | 229,433 | 34,672 | 368,440 | 457,335 | 69,114 | ||||||||
Operating expenses | |||||||||||||||
Sales and marketing | (70,880 | ) | (41,232 | ) | (41,816 | ) | (6,319 | ) | (136,712 | ) | (83,048 | ) | (12,551 | ) | |
Research and development | (43,108 | ) | (22,030 | ) | (22,163 | ) | (3,349 | ) | (81,495 | ) | (44,193 | ) | (6,679 | ) | |
General and administrative | (139,113 | ) | (112,340 | ) | (109,091 | ) | (16,486 | ) | (274,916 | ) | (221,431 | ) | (33,463 | ) | |
(Allowance) reversal for doubtful debt | (16,449 | ) | 1,855 | 627 | 95 | (31,914 | ) | 2,482 | 375 | ||||||
Changes in the fair value of contingent purchase consideration payable | 1,032 | 2,284 | (5,494 | ) | (830 | ) | 3,899 | (3,210 | ) | (485 | ) | ||||
Total operating expenses | (268,518 | ) | (171,463 | ) | (177,937 | ) | (26,889 | ) | (521,138 | ) | (349,400 | ) | (52,803 | ) | |
Operating (loss) profit | (80,555 | ) | 56,439 | 51,496 | 7,783 | (152,698 | ) | 107,935 | 16,311 | ||||||
Interest income | 7,188 | 8,527 | 8,961 | 1,354 | 15,440 | 17,488 | 2,643 | ||||||||
Interest expense | (40,033 | ) | (51,542 | ) | (51,328 | ) | (7,757 | ) | (77,060 | ) | (102,870 | ) | (15,546 | ) | |
Gain on deconsolidation of subsidiaries | - | - | 4,843 | 732 | - | 4,843 | 732 | ||||||||
Other income | 1,458 | 22,161 | 20,386 | 3,081 | 6,284 | 42,547 | 6,430 | ||||||||
Other expense | (2,636 | ) | (1,526 | ) | (565 | ) | (85 | ) | (4,198 | ) | (2,091 | ) | (316 | ) | |
Foreign exchange (loss) gain | (10,372 | ) | 44,841 | (73,360 | ) | (11,086 | ) | (15,853 | ) | (28,519 | ) | (4,310 | ) | ||
(Loss) gain before income taxes and gain (loss) from equity method investments | (124,950 | ) | 78,900 | (39,567 | ) | (5,978 | ) | (228,085 | ) | 39,333 | 5,944 | ||||
Income tax (expenses) benefits | (1,387 | ) | (34,080 | ) | (44,305 | ) | (6,696 | ) | (17,514 | ) | (78,385 | ) | (11,846 | ) | |
Gain (loss) from equity method investments | 7,080 | (10,089 | ) | (11,659 | ) | (1,762 | ) | 9,505 | (21,748 | ) | (3,287 | ) | |||
Net (loss) profit | (119,257 | ) | 34,731 | (95,531 | ) | (14,436 | ) | (236,094 | ) | (60,800 | ) | (9,189 | ) | ||
Net loss (profit) attributable to noncontrolling interest | 22,444 | (1,891 | ) | 1,321 | 200 | 39,487 | (570 | ) | (86 | ) | |||||
Net (loss) profit attributable to ordinary shareholders | (96,813 | ) | 32,840 | (94,210 | ) | (14,236 | ) | (196,607 | ) | (61,370 | ) | (9,275 | ) | ||
(Loss) profit per share | |||||||||||||||
Basic | (0.18 | ) | 0.05 | (0.14 | ) | (0.02 | ) | (0.35 | ) | (0.09 | ) | (0.01 | ) | ||
Diluted | (0.18 | ) | 0.05 | (0.14 | ) | (0.02 | ) | (0.35 | ) | (0.09 | ) | (0.01 | ) | ||
Shares used in (loss) profit per share computation | |||||||||||||||
Basic* | 670,534,467 | 672,741,909 | 675,062,068 | 675,062,068 | 674,556,313 | 673,908,526 | 673,908,526 | ||||||||
Diluted* | 670,534,467 | 677,158,404 | 675,062,068 | 675,062,068 | 674,556,313 | 673,908,526 | 673,908,526 | ||||||||
(Loss) profit per ADS (6 ordinary shares equal to 1 ADS) | |||||||||||||||
Basic | (1.08 | ) | 0.30 | (0.84 | ) | (0.12 | ) | (2.10 | ) | (0.54 | ) | (0.06 | ) | ||
Diluted | (1.08 | ) | 0.30 | (0.84 | ) | (0.12 | ) | (2.10 | ) | (0.54 | ) | (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$”)) | |||||||||||||||
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June 30, 2017 |
June 30, 2018 |
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RMB | RMB | RMB | US$ | RMB | RMB | US$ | |||||||||
Gross profit | 187,963 | 227,902 | 229,433 | 34,672 | 368,440 | 457,335 | 69,114 | ||||||||
Plus: depreciation and amortization | 147,905 | 119,562 | 134,282 | 20,293 | 228,231 | 253,844 | 38,362 | ||||||||
Plus: share-based compensation expenses | 42 | 14 | 293 | 44 | (180 | ) | 307 | 46 | |||||||
Adjusted cash gross profit | 335,910 | 347,478 | 364,008 | 55,009 | 596,491 | 711,486 | 107,522 | ||||||||
Adjusted cash gross margin | 38.2% | 43.4% | 43.9% | 43.9% | 34.3% | 43.7% | 43.7% | ||||||||
Operating expenses | (268,518 | ) | (171,463 | ) | (177,937 | ) | (26,889 | ) | (521,138 | ) | (349,400 | ) | (52,803 | ) | |
Plus: share-based compensation expenses | 11,563 | 6,555 | 10,547 | 1,594 | 16,108 | 17,102 | 2,585 | ||||||||
Plus: changes in the fair value of contingent purchase consideration payable | (1,032 | ) | (2,284 | ) | 5,494 | 830 | (3,899 | ) | 3,210 | 485 | |||||
Adjusted operating expenses | (257,987 | ) | (167,192 | ) | (161,896 | ) | (24,465 | ) | (508,929 | ) | (329,088 | ) | (49,733 | ) | |
Operating (loss) profit | (80,555 | ) | 56,439 | 51,496 | 7,783 | (152,698 | ) | 107,935 | 16,311 | ||||||
Plus: depreciation and amortization | 178,591 | 135,290 | 153,313 | 23,169 | 349,544 | 288,603 | 43,615 | ||||||||
Plus: share-based compensation expenses | 11,605 | 6,569 | 10,840 | 1,638 | 15,928 | 17,409 | 2,631 | ||||||||
Plus: changes in the fair value of contingent purchase consideration payable | (1,032 | ) | (2,284 | ) | 5,494 | 830 | (3,899 | ) | 3,210 | 485 | |||||
Adjusted EBITDA | 108,609 | 196,014 | 221,143 | 33,420 | 208,875 | 417,157 | 63,042 | ||||||||
Adjusted EBITDA margin | 12.4% | 24.5% | 26.7% | 26.7% | 12.0% | 25.6% | 25.6% | ||||||||
21VIANET GROUP, INC. | |||||||||||||||
SUPPLEMENTARY DISCLOSURE FOR HOSTING AND RELATED SERVICES | |||||||||||||||
(Amount in thousands of Renminbi (“RMB”) and US dollars (“US$”)) | |||||||||||||||
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GAAP Disclosure | RMB | RMB | RMB | US$ | RMB | RMB | US$ | ||||||||
Net revenues | 743,398 | 800,765 | 828,317 | 125,178 | 1,450,109 | 1,629,082 | 246,193 | ||||||||
Cost of revenues | (522,024 | ) | (572,863 | ) | (598,884 | ) | (90,506 | ) | (1,022,454 | ) | (1,171,747 | ) | (177,079 | ) | |
Gross profit | 221,374 | 227,902 | 229,433 | 34,672 | 427,655 | 457,335 | 69,114 | ||||||||
Sales and marketing | (44,980 | ) | (41,232 | ) | (41,816 | ) | (6,319 | ) | (78,995 | ) | (83,048 | ) | (12,551 | ) | |
Research and development | (23,884 | ) | (22,030 | ) | (22,163 | ) | (3,349 | ) | (46,090 | ) | (44,193 | ) | (6,679 | ) | |
General and administrative | (104,825 | ) | (112,340 | ) | (109,091 | ) | (16,486 | ) | (203,039 | ) | (221,431 | ) | (33,463 | ) | |
(Allowance) reversal for doubtful debt | (80 | ) | 1,855 | 627 | 95 | (2,520 | ) | 2,482 | 375 | ||||||
Changes in the fair value of contingent purchase consideration payable | 1,032 | 2,284 | (5,494 | ) | (830 | ) | 3,899 | (3,210 | ) | (485 | ) | ||||
Total operating expenses | (172,737 | ) | (171,463 | ) | (177,937 | ) | (26,889 | ) | (326,745 | ) | (349,400 | ) | (52,803 | ) | |
Operating profit | 48,637 | 56,439 | 51,496 | 7,783 | 100,910 | 107,935 | 16,311 | ||||||||
Non-GAAP disclosure | |||||||||||||||
Gross profit | 221,374 | 227,902 | 229,433 | 34,672 | 427,655 | 457,335 | 69,114 | ||||||||
Plus: depreciation and amortization | 96,754 | 119,562 | 134,282 | 20,293 | 184,900 | 253,844 | 38,362 | ||||||||
Plus: share-based compensation expenses | 66 | 14 | 293 | 44 | (72 | ) | 307 | 46 | |||||||
Adjusted cash gross profit | 318,194 | 347,478 | 364,008 | 55,009 | 612,483 | 711,486 | 107,522 | ||||||||
Adjusted cash gross margin | 42.8% | 43.4% | 43.9% | 43.9% | 42.2% | 43.7% | 43.7% | ||||||||
Operating expenses | (172,737 | ) | (171,463 | ) | (177,937 | ) | (26,889 | ) | (326,745 | ) | (349,400 | ) | (52,803 | ) | |
Plus: share-based compensation expenses | 13,769 | 6,555 | 10,547 | 1,594 | 16,588 | 17,102 | 2,585 | ||||||||
Plus: changes in the fair value of contingent purchase consideration payable | (1,032 | ) | (2,284 | ) | 5,494 | 830 | (3,899 | ) | 3,210 | 485 | |||||
Adjusted operating expenses | (160,000 | ) | (167,192 | ) | (161,896 | ) | (24,465 | ) | (314,056 | ) | (329,088 | ) | (49,733 | ) | |
Operating profit | 48,637 | 56,439 | 51,496 | 7,783 | 100,910 | 107,935 | 16,311 | ||||||||
Plus: depreciation and amortization | 109,868 | 135,290 | 153,313 | 23,169 | 210,500 | 288,603 | 43,615 | ||||||||
Plus: share-based compensation expenses | 13,835 | 6,569 | 10,840 | 1,638 | 16,516 | 17,409 | 2,631 | ||||||||
Plus: changes in the fair value of contingent purchase consideration payable | (1,032 | ) | (2,284 | ) | 5,494 | 830 | (3,899 | ) | 3,210 | 485 | |||||
Adjusted EBITDA | 171,308 | 196,014 | 221,143 | 33,420 | 324,027 | 417,157 | 63,042 | ||||||||
Adjusted EBITDA margin | 23.0% | 24.5% | 26.7% | 26.7% | 22.3% | 25.6% | 25.6% | ||||||||
21VIANET GROUP, INC. | ||||||||
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS | ||||||||
(Amount in thousands of Renminbi (“RMB”) and US dollars (“US$”)) | ||||||||
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March 31, 2018 |
June 30, 2018 |
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RMB | RMB | RMB | US$ | |||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||
Net (loss) profit | (119,257 | ) | 34,731 | (95,531 | ) | (14,436 | ) | |
Adjustments to reconcile net (loss) profit to net cash generated from operating activities: | ||||||||
Depreciation and amortization | 178,591 | 135,290 | 153,313 | 23,169 | ||||
Stock-based compensation expenses | 11,573 | 6,569 | 10,840 | 1,638 | ||||
Others | 9,226 | (47,256 | ) | 93,201 | 14,085 | |||
Changes in operating assets and liabilities | ||||||||
Accounts and notes receivable | 30,509 | (49,722 | ) | (29,540 | ) | (4,464 | ) | |
Prepaid expenses and other current assets | (82,143 | ) | (92,181 | ) | (14,088 | ) | (2,129 | ) |
Accounts and notes payable | (5,560 | ) | 40,243 | (4,819 | ) | (728 | ) | |
Accrued expenses and other payables | 71,956 | (25,300 | ) | 25,971 | 3,925 | |||
Deferred revenue | (19,417 | ) | (20,505 | ) | 6,217 | 940 | ||
Advances from customers | 36,406 | 73,995 | (1,698 | ) | (257 | ) | ||
Others | (24,723 | ) | 39,989 | (32,468 | ) | (4,907 | ) | |
Net cash generated from operating activities | 87,161 | 95,853 | 111,398 | 16,836 | ||||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||
Purchases of property and equipment | (144,092 | ) | (91,027 | ) | (91,256 | ) | (13,791 | ) |
Purchases of intangible assets | (5,466 | ) | (1,887 | ) | (3,756 | ) | (568 | ) |
Payments for investments | (36,247 | ) | (14,473 | ) | (39,098 | ) | (5,909 | ) |
Payments for assets acquisition, net of cash acquired | (10,000 | ) | - | - | - | |||
Proceeds from other investing activities | 486,357 | 26,654 | 357,302 | 53,997 | ||||
Net cash generated from (used in) investing activities | 290,552 | (80,733 | ) | 223,192 | 33,729 | |||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||
Repayments of 2017 bonds | (420,600 | ) | - | - | - | |||
Proceeds from bank borrowings | 43,662 | 69,999 | - | - | ||||
Repayments of bank borrowings | (30,349 | ) | (50,000 | ) | (27,953 | ) | (4,224 | ) |
Payments for capital lease | (60,552 | ) | (29,287 | ) | (95,183 | ) | (14,384 | ) |
Payment for shares repurchase plan | (41,880 | ) | - | - | - | |||
Payments for other financing activities | (31,800 | ) | (19,650 | ) | 38,801 | 5,863 | ||
Contribution from noncontrolling interest in a subsidiary | 22,962 | - | - | - | ||||
Net cash used in financing activities | (518,557 | ) | (28,938 | ) | (84,335 | ) | (12,745 | ) |
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | (31,317 | ) | (73,414 | ) | 80,660 | 12,189 | ||
Net (decrease) increase in cash, cash equivalents and restricted cash | (172,161 | ) | (87,232 | ) | 330,915 | 50,009 | ||
Cash, cash equivalents and restricted cash at beginning of period | 2,848,230 | 2,195,469 | 2,108,237 | 318,604 | ||||
Cash, cash equivalents and restricted cash at end of period | 2,676,069 | 2,108,237 | 2,439,152 | 368,613 | ||||
Notes: | ||||||||
The Company adopted Accounting Standards Update (“ASU”) No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash on January 1, 2018 and retrospectively adjusted the condensed consolidated statement of cash flows for the three months ended June 30, 2017 by excluding the movement of restricted cash of RMB150.5 million. | ||||||||
Source: 21Vianet Group, Inc.