21Vianet Group, Inc. (Nasdaq:VNET) ("21Vianet" or the "Company"), a
leading carrier-neutral internet data center services provider in
China, today announced its unaudited financial results for the
fourth quarter and full year ended December 31, 2016. The Company
will hold a conference call at 8:00 p.m. Eastern Time on Wednesday,
March 8, 2017. Dial-in details are provided at the end of the
release.
Mr. Steve Zhang, Chief Executive Officer of the
Company, stated, "Despite facing severe headwinds in our managed
network services business, we continue to see stable growth in our
core IDC, VPN, and cloud businesses this quarter. Last December, in
partnership with Microsoft, we launched Power BI, a business data
analytics cloud service, adding to our wide-array of cloud
offerings for our customers. Most recently, we finalized and signed
an investment agreement with Warburg Pincus, which expands upon the
strategic agreement previously announced. The end result remains
the same, as we will establish joint ventures for our digital real
estate business with a focus on the customized wholesale data
center market, and will aim to build out 80,000 to 100,000
additional cabinets in the next five to seven years. Our core
retail colocation and cloud services will be supplemented with
wholesale data center services, providing more complete and
expanded service offerings to our customers. This restructuring of
our business will allow us to continue to fine-tune our Capex
structure, improve our operating leverage, and provide customers
with more value-added services such as hybrid cloud solutions. With
the evolving internet landscape in China and the strong demands of
internet traffic, computing, and data storage, we will solidify our
position as a leading internet infrastructure services provider and
meet the ever-changing needs of our customers."
Mr. Terry Wang, Chief Financial Officer of the
Company, further commented, "We are pleased to announce that we met
our fourth quarter and full year guidance for both top line net
revenues and adjusted EBITDA. In 2016, we increased our total
revenues to RMB3.64 billion, which was primarily driven by a 14.2%
year-over-year increase in revenues from our hosting and related
businesses. During the fourth quarter of 2016, we added over 300
cabinets in our self-built data centers, bringing the total number
of cabinets up to 26,380. Our cloud business maintained its growth
trajectory, which was mainly attributable to the robust results
from our partnerships with Microsoft and IBM. Looking forward, we
will aim to consistently deploy new cabinets and enhance our
monthly recurring revenues in order to reignite our top line growth
and realize margin expansion. Additionally, even though our MNS and
CDN businesses continued to experience pricing pressure and intense
competition in 2016, we began seeing signs of price stabilization.
We are confident that we will generate further value for our
shareholders through our continuous effort to optimize operations,
our sustainable investment in asset-light businesses and the
emerging opportunities in customized wholesale data centers."
Fourth Quarter 2016 Financial
Results
REVENUES: Net revenues for the
fourth quarter of 2016 were RMB900.6 million (US$129.7 million), as
compared with RMB983.4 million in the comparative period in 2015.
The decrease was primarily due to a decrease in MNS revenues.
Net revenues from hosting and related services
increased by 4.7% to RMB790.1 million (US$113.8 million) in the
fourth quarter of 2016 from RMB754.7 million in the comparative
period in 2015, primarily due to an increase in total number of
billable cabinets, partially offset by the lower utilization rate
and MRR, or monthly recurring revenue, per cabinet.
Net revenues from MNS were RMB110.6 million
(US$15.9 million) in the fourth quarter of 2016, as compared with
RMB228.7 million in the comparative period in 2015. The decrease
was primarily due to a 107 million decrease in Aipu revenues, which
was driven by intensified competition.
GROSS PROFIT: Gross profit for
the fourth quarter of 2016 was RMB183.4 million (US$26.4 million),
as compared with RMB219.2 million in the comparative period in
2015. Gross margin for the fourth quarter of 2016 was 20.4%, as
compared with 22.3% in the comparative period in 2015.
Adjusted gross profit, which excludes
share-based compensation expenses and amortization of intangible
assets derived from acquisitions, was RMB222.6 million (US$32.1
million) in the fourth quarter of 2016, as compared with RMB264.3
million in the comparative period in 2015. Adjusted gross margin
was 24.7% in the fourth quarter of 2016, compared with 26.9% in the
comparative period in 2015.
OPERATING EXPENSES: Total
operating expenses were RMB690.4 million (US$99.4 million) in the
fourth quarter of 2016, as compared with RMB314.5 million in the
comparative period in 2015. Adjusted operating expenses, which
exclude a one-time impairment of long-term asset, share-based
compensation expenses and changes in the fair value of contingent
purchase consideration payable, were RMB309.8 million (US$44.6
million), as compared with RMB275.9 million in the comparative
period in 2015. As a percentage of net revenues, adjusted operating
expenses were 34.4%, as compared with 28.1% in the comparative
period in 2015.
Sales and marketing expenses were RMB92.0
million (US$13.3 million) in the fourth quarter of 2016, as
compared with RMB101.8 million in the comparative period in 2015.
The decrease was primarily due to reduced agency fees.
General and administrative expenses were
RMB186.7 million (US$26.9 million) in the fourth quarter of 2016,
as compared with RMB141.0 million in the comparative period in
2015. The increase was primarily due to increased staff cost.
Research and development expenses were RMB38.4
million (US$5.5 million) in the fourth quarter of 2016, as compared
with RMB41.6 million in the comparative period in 2015.
Bad debt provisions were RMB47.5 million (US$6.8
million) in the fourth quarter of 2016, as compared with RMB25.1
million in the comparative period in 2015.
Changes in the fair value of contingent purchase
consideration payable was a gain of RMB67.2 million (US$9.7
million) in the fourth quarter of 2016, as compared with a loss of
RMB5.1 million in the comparative period in 2015.
One-time impairment of long-term asset was
RMB392.9 million (US$56.6 million) in the fourth quarter of
2016.
ADJUSTED EBITDA: Adjusted
EBITDA for the fourth quarter of 2016 was RMB52.0 million (US$7.5
million), as compared with RMB102.1 million in the comparative
period in 2015. The decrease in adjusted EBITDA was primarily due
to the inclusion of a RMB47.5 million bad debt provision. Adjusted
EBITDA margin for the fourth quarter of 2016 was 5.8% compared with
10.4% in the comparative period in 2015. Adjusted EBITDA for the
fourth quarter of 2016 excludes a one-time impairment of long-term
asset of RMB392.9 million (US$56.6 million), share-based
compensation expenses of RMB56.7 million (US$8.2 million) and
changes in the fair value of contingent purchase consideration
payable which was a gain of RMB67.2 million (US$9.7 million).
NET PROFIT/LOSS: Net loss for
the fourth quarter of 2016 was RMB485.2 million (US$69.9 million),
as compared with a net loss of RMB112.9 million in the comparative
period in 2015.
Adjusted net loss for the fourth quarter of 2016
was RMB66.1 million (US$9.5 million), as compared with an adjusted
net loss of RMB29.1 million in the comparative period in 2015.
Adjusted net loss in the fourth quarter of 2016 mainly excludes a
one-time impairment of long-term asset of RMB392.9 million (US$56.6
million) and changes in the fair value of contingent purchase
consideration payable and related deferred tax impact which was a
gain of RMB67.9 million (US$9.8 million). Adjusted net margin in
the fourth quarter of 2016 was negative 7.3%, as compared with
negative 3.0% in the comparative period in 2015.
LOSS PER SHARE: Diluted loss
per share for the fourth quarter of 2016 was RMB0.69, which
represents the equivalent of RMB4.14 (US$0.60) per American
Depositary Share ("ADS"). Each ADS represents six ordinary shares.
Adjusted diluted loss per share for the fourth quarter of 2016 was
RMB0.08, which represents the equivalent of RMB0.48 (US$0.07) per
ADS. Adjusted diluted loss per share is calculated using adjusted
net loss as discussed above divided by the weighted average number
of shares.
As of December 31, 2016, the Company had a total
of 679.8 million ordinary shares outstanding, or equivalent of
113.3 million ADSs.
BALANCE SHEET: As of December
31, 2016, the Company's cash and cash equivalents and short-term
investment were RMB1.58 billion (US$226.9 million).
Fourth Quarter 2016 Operational Highlights
- Monthly Recurring Revenues ("MRR") per cabinet was RMB8,490 in
the fourth quarter of 2016, compared with RMB8,696 in the third
quarter of 2016.
- Total cabinets under management increased to 26,380 as of
December 31, 2016 from 26,184 as of September 30, 2016, with 19,294
cabinets in the Company's self-built data centers and 7,086
cabinets in its partnered data centers.
- Utilization rate was 75.2% in the fourth quarter of 2016,
compared with 77.9% in the third quarter of 2016.
- Hosting churn rate, which is based on the Company’s core IDC
business, was 0.55% in the fourth quarter of 2016, compared with
0.95% in the third quarter of 2016.
Full Year 2016 Financial Performance
For the full year of 2016, net revenue increased
to RMB3.64 billion (US$524.5 million) from RMB3.63 billion in the
prior year. Adjusted EBITDA for the full year was RMB243.9 million
(US$35.1 million), as compared with RMB540.4 million in the prior
year. Adjusted EBITDA margin was 6.7%, as compared with 14.9% in
the prior year. Adjusted EBITDA for the full year excludes
impairment of long-term asset of RMB392.9 million (US$56.6
million), share-based compensation expenses of RMB118.7 million
(US$17.1 million) and changes in the fair value of contingent
purchase consideration payable of RMB93.3 million (US$13.4
million). Adjusted net loss for the full year was RMB332.9 million
(US$47.9 million), as compared with a loss of RMB10.8 million in
the prior year. Adjusted net loss in the full year excludes
impairment of long-term asset of RMB392.9 million (US$56.6
million), share-based compensation expenses of RMB118.7 million
(US$17.1 million), amortization of intangible assets derived from
acquisitions of RMB151.0 million (US$21.8 million), changes in the
fair value of contingent purchase consideration payable and related
deferred tax assets of RMB93.5 million (US$13.5 million), and a
one-time loss on debt extinguishment of RMB29.8 million (US$4.3
million). Adjusted diluted loss per share for the full year of 2016
was RMB0.40 (US$0.06), which represents the equivalent of RMB2.40
(US$0.35) per ADS.
Recent Developments
On March 5, 2017, the Company signed an
investment agreement (“IA”) with Warburg Pincus to establish a
multi-stage joint venture (“JV”) and build a digital real estate
platform in China. The IA supersedes the strategic agreement signed
on October 31, 2016. The overall structure remains the same, while
the IA added certain details on how the cooperation will be carried
out. Pursuant to the IA, 21Vianet will still seed the initial JV
with four existing high-performing IDC assets, valued at over
US$300 million, and Warburg Pincus will contribute direct capital
and extensive industry network and resources in the real estate
sector. Also pursuant to the IA, 21Vianet will own 51% of the
equity interest in the initial JV while Warburg Pincus will own the
remaining 49%. With respect to future JVs, 21Vianet will own 49% of
the equity interest while Warburg Pincus will own the remaining
51%.
Financial Outlook
For the first quarter of 2017, the Company
expects net revenues to be in the range of RMB820 million to RMB880
million, as compared with RMB862.3 million in the prior year
period. Adjusted EBITDA is expected to be in the range of RMB65
million to RMB85million, as compared with RMB108.6 million in the
prior year period.
For the full year of 2017, the Company now
expects net revenues to be in the range of RMB3.7 billion to RMB3.9
billion, as compared with RMB3.64 billion in the prior year.
Adjusted EBITDA for the full year 2017 is expected to be in the
range of RMB420 million to RMB460 million, as compared with
RMB243.9 million in the prior year. These forecasts reflect the
Company's current and preliminary view, which may be subject to
change.
Conference Call
The Company will hold a conference call on
Wednesday, March 8, 2017 at 8:00 pm U.S. Eastern Time, or Thursday,
March 9, 2017 at 9:00 am Beijing Time to discuss the financial
results.
|
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: |
72616852 |
| |
|
| |
|
|
The replay will be accessible through March 16, 2017, by dialing
the following numbers: |
| |
|
| United States
Toll Free: |
+1-855-452-5696 |
|
International: |
+61-2-9003-4211 |
| Conference
ID: |
72616852 |
| |
|
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 SEC as supplemental measure to review and
assess its operating performance: adjusted gross profit, adjusted
gross margin, adjusted operating expenses, adjusted net profit,
adjusted net margin, adjusted EBITDA, adjusted EBITDA margin,
adjusted basic earnings per share, adjusted diluted earnings per
share, adjusted basic earnings per ADS and adjusted diluted
earnings per ADS. 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 RMB6.9430
to US$1.00, the noon buying rate in effect on December 31, 2016 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-neutral Internet data center services provider in China.
21Vianet provides hosting and related services, managed network
services, cloud services, content delivery network services,
last-mile wired broadband services and business VPN services,
improving the reliability, security and speed of its customers'
Internet infrastructure. Customers may locate their servers and
networking equipment in 21Vianet's data centers and connect to
China's Internet backbone through 21Vianet's extensive fiber optic
network. In addition, 21Vianet's proprietary smart routing
technology enables customers' data to be delivered across the
Internet in a faster and more reliable manner. 21Vianet operates in
more than 30 cities throughout China, servicing a diversified and
loyal base of more than 2,000 hosting 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," "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.
| |
| 21VIANET GROUP, INC. |
| CONSOLIDATED BALANCE SHEETS |
| (Amount in thousands of Renminbi (“RMB”) and US
dollars (“US$”)) |
| |
|
|
| |
As of |
|
As of |
|
|
December 31, 2015 |
|
December 31, 2016 |
| |
RMB |
|
RMB |
|
US$ |
| |
(Audited) |
|
(Unaudited) |
|
(Unaudited) |
|
Assets |
|
|
|
|
Current assets: |
|
|
|
| Cash and
cash equivalents |
1,685,054 |
|
|
1,297,418 |
|
|
186,867 |
|
|
Restricted cash |
195,230 |
|
|
1,963,561 |
|
|
282,812 |
|
| Accounts
and notes receivable, net |
694,108 |
|
|
655,459 |
|
|
94,406 |
|
|
Short-term investments |
104,897 |
|
|
277,946 |
|
|
40,033 |
|
|
Inventories |
13,539 |
|
|
4,431 |
|
|
638 |
|
| Prepaid
expenses and other current assets |
642,553 |
|
|
777,131 |
|
|
111,930 |
|
| Deferred
tax assets |
31,113 |
|
|
43,362 |
|
|
6,245 |
|
| Amount
due from related parties |
105,137 |
|
|
182,615 |
|
|
26,302 |
|
|
Total current assets |
3,471,631 |
|
|
5,201,923 |
|
|
749,233 |
|
|
Non-current assets: |
|
|
|
| Property
and equipment, net |
3,653,071 |
|
|
3,781,613 |
|
|
544,666 |
|
|
Intangible assets, net |
1,274,166 |
|
|
977,341 |
|
|
140,766 |
|
| Land use
rights, net |
64,682 |
|
|
167,646 |
|
|
24,146 |
|
| Deferred
tax assets |
46,900 |
|
|
57,314 |
|
|
8,255 |
|
|
Goodwill |
1,755,970 |
|
|
1,755,970 |
|
|
252,912 |
|
| Long
term investments |
198,907 |
|
|
298,871 |
|
|
43,046 |
|
|
Restricted cash |
128,515 |
|
|
33,544 |
|
|
4,831 |
|
| Amount
due from related parties |
70,000 |
|
|
- |
|
|
- |
|
| Other
non-current assets |
183,868 |
|
|
147,302 |
|
|
21,216 |
|
|
Total non-current assets |
7,376,079 |
|
|
7,219,601 |
|
|
1,039,838 |
|
|
Total assets |
10,847,710 |
|
|
12,421,524 |
|
|
1,789,071 |
|
|
Liabilities and Shareholders' Equity |
|
|
|
|
Current liabilities: |
|
|
|
|
Short-term bank borrowings |
276,000 |
|
|
1,683,676 |
|
|
242,500 |
|
| Accounts
and notes payable |
482,622 |
|
|
529,569 |
|
|
76,274 |
|
| Accrued
expenses and other payables |
637,957 |
|
|
787,916 |
|
|
113,484 |
|
| Deferred
revenue |
342,105 |
|
|
320,023 |
|
|
46,093 |
|
| Advances
from customers |
185,800 |
|
|
201,397 |
|
|
29,007 |
|
| Income
taxes payable |
49,959 |
|
|
21,899 |
|
|
3,154 |
|
| Amounts
due to related parties |
397,588 |
|
|
121,928 |
|
|
17,561 |
|
| Current
portion of long-term bank borrowings |
38,803 |
|
|
39,303 |
|
|
5,661 |
|
| Current
portion of capital lease obligations |
140,488 |
|
|
243,723 |
|
|
35,103 |
|
| Current
portion of deferred government grant |
6,332 |
|
|
5,107 |
|
|
736 |
|
| Current
portion of bonds payable |
263,365 |
|
|
419,316 |
|
|
60,394 |
|
|
Total current liabilities |
2,821,019 |
|
|
4,373,857 |
|
|
629,967 |
|
|
Non-current liabilities: |
|
|
|
|
Long-term bank borrowings |
103,421 |
|
|
268,221 |
|
|
38,632 |
|
| Deferred
revenue |
68,535 |
|
|
62,531 |
|
|
9,006 |
|
| Amounts
due to related parties |
27,384 |
|
|
- |
|
|
- |
|
|
Unrecognized tax benefits |
14,492 |
|
|
28,689 |
|
|
4,132 |
|
| Deferred
tax liabilities |
293,212 |
|
|
274,700 |
|
|
39,565 |
|
|
Non-current portion of capital lease obligations |
579,070 |
|
|
536,623 |
|
|
77,290 |
|
|
Non-current portion of deferred government grant |
31,288 |
|
|
25,886 |
|
|
3,728 |
|
| Bonds
payable |
1,984,685 |
|
|
- |
|
|
- |
|
|
Mandatorily redeemable noncontrolling interests |
100,000 |
|
|
- |
|
|
- |
|
|
Total non-current liabilities |
3,202,087 |
|
|
1,196,650 |
|
|
172,353 |
|
|
|
|
|
|
|
Redeemable noncontrolling interests |
790,229 |
|
|
700,000 |
|
|
100,821 |
|
|
|
|
|
|
|
Shareholders' equity |
|
|
|
| Treasury
stock |
(193,142 |
) |
|
(204,557 |
) |
|
(29,462 |
) |
| Ordinary
shares |
34 |
|
|
45 |
|
|
6 |
|
|
Additional paid-in capital |
6,403,117 |
|
|
9,199,248 |
|
|
1,324,967 |
|
|
Accumulated other comprehensive loss |
(24,236 |
) |
|
118,290 |
|
|
17,037 |
|
|
Statutory reserves |
63,174 |
|
|
64,622 |
|
|
9,308 |
|
|
Accumulated deficit |
(2,233,985 |
) |
|
(3,052,433 |
) |
|
(439,642 |
) |
|
Total 21Vianet Group, Inc. shareholders’
equity |
4,014,962 |
|
|
6,125,215 |
|
|
882,214 |
|
|
Noncontrolling interest |
19,413 |
|
|
25,802 |
|
|
3,716 |
|
|
Total shareholders' equity |
4,034,375 |
|
|
6,151,017 |
|
|
885,930 |
|
|
Total liabilities, redeemable noncontrolling interests and
shareholders' equity |
10,847,710 |
|
|
12,421,524 |
|
|
1,789,071 |
|
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
| 21VIANET GROUP, INC. |
|
| CONSOLIDATED STATEMENTS OF
OPERATIONS |
|
| (Amount in thousands of Renminbi (“RMB”) and
US dollars (“US$”) except for number of shares and per share
data) |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Three months
ended |
|
Year ended |
|
| |
December 31, 2015 |
|
September 30, 2016 |
|
December 31, 2016 |
|
December 31, 2015 |
|
December 31, 2016 |
|
| |
RMB |
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
| |
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
|
Net revenues |
|
|
|
|
|
|
|
|
|
| Hosting
and related services |
754,706 |
|
|
828,121 |
|
|
790,079 |
|
|
113,795 |
|
|
2,707,445 |
|
|
3,092,256 |
|
|
445,378 |
|
|
| Managed
network services |
228,677 |
|
|
139,885 |
|
|
110,568 |
|
|
15,925 |
|
|
926,927 |
|
|
549,518 |
|
|
79,147 |
|
|
| Total
net revenues |
983,383 |
|
|
968,006 |
|
|
900,647 |
|
|
129,720 |
|
|
3,634,372 |
|
|
3,641,774 |
|
|
524,525 |
|
|
| Cost of
revenues |
(764,214 |
) |
|
(781,124 |
) |
|
(717,276 |
) |
|
(103,309 |
) |
|
(2,780,614 |
) |
|
(2,929,638 |
) |
|
(421,956 |
) |
|
|
Gross profit |
219,169 |
|
|
186,882 |
|
|
183,371 |
|
|
26,411 |
|
|
853,758 |
|
|
712,136 |
|
|
102,569 |
|
|
|
Operating expenses |
|
|
|
|
|
|
|
|
|
| Sales
and marketing |
(101,797 |
) |
|
(100,138 |
) |
|
(92,018 |
) |
|
(13,253 |
) |
|
(359,460 |
) |
|
(352,926 |
) |
|
(50,832 |
) |
|
| Research
and development |
(41,569 |
) |
|
(36,079 |
) |
|
(38,425 |
) |
|
(5,534 |
) |
|
(142,835 |
) |
|
(149,337 |
) |
|
(21,509 |
) |
|
| General
and administrative |
(140,995 |
) |
|
(162,746 |
) |
|
(186,744 |
) |
|
(26,897 |
) |
|
(568,741 |
) |
|
(639,648 |
) |
|
(92,128 |
) |
|
| Bad debt
provision |
(25,069 |
) |
|
(27,103 |
) |
|
(47,450 |
) |
|
(6,834 |
) |
|
(32,199 |
) |
|
(117,564 |
) |
|
(16,933 |
) |
|
| Changes
in the fair value of contingent purchase consideration payable
|
(5,060 |
) |
|
12,285 |
|
|
67,197 |
|
|
9,678 |
|
|
(43,325 |
) |
|
93,307 |
|
|
13,439 |
|
|
|
Impairment of long-lived assets |
- |
|
|
- |
|
|
(392,947 |
) |
|
(56,596 |
) |
|
- |
|
|
(392,947 |
) |
|
(56,596 |
) |
|
| Other
operating income |
- |
|
|
6,783 |
|
|
- |
|
|
- |
|
|
8,569 |
|
|
6,783 |
|
|
977 |
|
|
|
Total operating expenses |
(314,490 |
) |
|
(306,998 |
) |
|
(690,387 |
) |
|
(99,436 |
) |
|
(1,137,991 |
) |
|
(1,552,332 |
) |
|
(223,582 |
) |
|
|
Operating loss |
(95,321 |
) |
|
(120,116 |
) |
|
(507,016 |
) |
|
(73,025 |
) |
|
(284,233 |
) |
|
(840,196 |
) |
|
(121,013 |
) |
|
| Interest
income |
5,692 |
|
|
3,716 |
|
|
4,839 |
|
|
697 |
|
|
53,494 |
|
|
21,078 |
|
|
3,036 |
|
|
| Interest
expense |
(60,963 |
) |
|
(49,490 |
) |
|
(40,652 |
) |
|
(5,855 |
) |
|
(274,184 |
) |
|
(198,589 |
) |
|
(28,603 |
) |
|
| Loss on
debt extinguishment |
- |
|
|
(29,841 |
) |
|
- |
|
|
- |
|
|
- |
|
|
(29,841 |
) |
|
(4,298 |
) |
|
| Other
income |
20,115 |
|
|
23,894 |
|
|
189 |
|
|
27 |
|
|
30,430 |
|
|
28,556 |
|
|
4,113 |
|
|
| Other
expense |
(1,848 |
) |
|
(1,010 |
) |
|
(1,825 |
) |
|
(263 |
) |
|
(3,701 |
) |
|
(16,449 |
) |
|
(2,369 |
) |
|
| Foreign
exchange gain |
7,248 |
|
|
8,511 |
|
|
28,849 |
|
|
4,155 |
|
|
72,394 |
|
|
56,341 |
|
|
8,115 |
|
|
|
Loss before income taxes and gain from equity method
investments |
(125,077 |
) |
|
(164,336 |
) |
|
(515,616 |
) |
|
(74,264 |
) |
|
(405,800 |
) |
|
(979,100 |
) |
|
(141,019 |
) |
|
| Income
tax (expense) benefit |
(28,044 |
) |
|
(10,064 |
) |
|
17,818 |
|
|
2,566 |
|
|
(47,830 |
) |
|
11,160 |
|
|
1,607 |
|
|
| Gain
from equity method investments |
40,231 |
|
|
2,852 |
|
|
12,591 |
|
|
1,813 |
|
|
52,355 |
|
|
36,018 |
|
|
5,188 |
|
|
| Net
loss |
(112,890 |
) |
|
(171,548 |
) |
|
(485,207 |
) |
|
(69,885 |
) |
|
(401,275 |
) |
|
(931,922 |
) |
|
(134,224 |
) |
|
| Net
(income) loss attributable to noncontrolling interest |
(11,194 |
) |
|
37,579 |
|
|
41,951 |
|
|
6,042 |
|
|
(26,824 |
) |
|
114,922 |
|
|
16,552 |
|
|
| Net loss
attributable to ordinary shareholders |
(124,084 |
) |
|
(133,969 |
) |
|
(443,256 |
) |
|
(63,843 |
) |
|
(428,099 |
) |
|
(817,000 |
) |
|
(117,672 |
) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Loss per
share |
|
|
|
|
|
|
|
|
|
|
Basic |
(0.24 |
) |
|
(0.15 |
) |
|
(0.69 |
) |
|
(0.10 |
) |
|
(0.85 |
) |
|
(1.37 |
) |
|
(0.20 |
) |
|
|
Diluted |
(0.24 |
) |
|
(0.15 |
) |
|
(0.69 |
) |
|
(0.10 |
) |
|
(0.85 |
) |
|
(1.37 |
) |
|
(0.20 |
) |
|
| Shares
used in loss per share computation |
|
|
|
|
|
|
|
|
|
|
Basic* |
523,366,544 |
|
|
682,146,465 |
|
|
681,210,352 |
|
|
681,210,352 |
|
|
492,065,239 |
|
|
617,169,833 |
|
|
617,169,833 |
|
|
|
Diluted* |
523,366,544 |
|
|
682,146,465 |
|
|
681,210,352 |
|
|
681,210,352 |
|
|
492,065,239 |
|
|
617,169,833 |
|
|
617,169,833 |
|
|
| |
|
|
|
|
|
|
|
|
|
| Loss per ADS (6
ordinary shares equal to 1 ADS) |
|
|
|
|
|
|
|
|
|
| Basic |
(1.44 |
) |
|
(0.90 |
) |
|
(4.14 |
) |
|
(0.60 |
) |
|
(5.10 |
) |
|
(8.22 |
) |
|
(1.18 |
) |
|
| Diluted |
(1.44 |
) |
|
(0.90 |
) |
|
(4.14 |
) |
|
(0.60 |
) |
|
(5.10 |
) |
|
(8.22 |
) |
|
(1.18 |
) |
|
| |
|
|
|
|
|
|
|
|
|
| * Shares used in loss 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$”) except for number of shares and per share
data) |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Three months
ended |
|
Year ended |
|
| |
December 31, 2015 |
|
September 30, 2016 |
|
December 31, 2016 |
|
December 31, 2015 |
|
December 31, 2016 |
|
| |
RMB |
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
| Gross
profit |
219,169 |
|
|
186,882 |
|
|
183,371 |
|
|
26,411 |
|
|
853,758 |
|
|
712,136 |
|
|
102,569 |
|
|
| Plus:
share-based compensation expense |
6,582 |
|
|
1,173 |
|
|
1,865 |
|
|
269 |
|
|
12,422 |
|
|
(4,110 |
) |
|
(592 |
) |
|
| Plus:
amortization of intangible assets derived from acquisitions |
38,583 |
|
|
36,504 |
|
|
37,369 |
|
|
5,382 |
|
|
157,119 |
|
|
151,037 |
|
|
21,754 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted gross profit |
264,334 |
|
|
224,559 |
|
|
222,605 |
|
|
32,062 |
|
|
1,023,299 |
|
|
859,063 |
|
|
123,731 |
|
|
|
Adjusted gross margin |
26.9 |
% |
|
23.2 |
% |
|
24.7 |
% |
|
24.7 |
% |
|
28.2 |
% |
|
23.6 |
% |
|
23.6 |
% |
|
|
Operating expenses |
(314,490 |
) |
|
(306,998 |
) |
|
(690,387 |
) |
|
(99,436 |
) |
|
(1,137,991 |
) |
|
(1,552,332 |
) |
|
(223,582 |
) |
|
| Plus:
share-based compensation expense |
33,537 |
|
|
32,208 |
|
|
54,808 |
|
|
7,894 |
|
|
177,605 |
|
|
122,839 |
|
|
17,692 |
|
|
| Plus:
changes in the fair value of contingent purchase consideration
payable |
5,060 |
|
|
(12,285 |
) |
|
(67,197 |
) |
|
(9,678 |
) |
|
43,325 |
|
|
(93,307 |
) |
|
(13,439 |
) |
|
| Plus:
impairment of long-lived assets |
- |
|
|
- |
|
|
392,947 |
|
|
56,596 |
|
|
- |
|
|
392,947 |
|
|
56,596 |
|
|
|
Adjusted operating expenses |
(275,893 |
) |
|
(287,075 |
) |
|
(309,829 |
) |
|
(44,624 |
) |
|
(917,061 |
) |
|
(1,129,853 |
) |
|
(162,733 |
) |
|
| Net
loss |
(112,890 |
) |
|
(171,548 |
) |
|
(485,207 |
) |
|
(69,885 |
) |
|
(401,275 |
) |
|
(931,922 |
) |
|
(134,224 |
) |
|
| Plus:
share-based compensation expense |
40,119 |
|
|
33,381 |
|
|
56,673 |
|
|
8,163 |
|
|
190,027 |
|
|
118,729 |
|
|
17,101 |
|
|
| Plus:
amortization of intangible assets derived from acquisitions |
38,583 |
|
|
36,504 |
|
|
37,369 |
|
|
5,382 |
|
|
157,119 |
|
|
151,037 |
|
|
21,754 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Plus:
changes in the fair value of contingent purchase consideration
payable and related deferred tax impact |
5,060 |
|
|
(12,285 |
) |
|
(67,874 |
) |
|
(9,776 |
) |
|
43,325 |
|
|
(93,489 |
) |
|
(13,465 |
) |
|
| Plus:
loss on debt extinguishment |
- |
|
|
29,841 |
|
|
- |
|
|
- |
|
|
- |
|
|
29,841 |
|
|
4,298 |
|
|
| Plus:
impairment of long-lived assets |
- |
|
|
- |
|
|
392,947 |
|
|
56,596 |
|
|
- |
|
|
392,947 |
|
|
56,596 |
|
|
|
Adjusted net loss |
(29,128 |
) |
|
(84,107 |
) |
|
(66,092 |
) |
|
(9,520 |
) |
|
(10,804 |
) |
|
(332,857 |
) |
|
(47,940 |
) |
|
|
Adjusted net margin |
-3.0 |
% |
|
-8.7 |
% |
|
-7.3 |
% |
|
-7.3 |
% |
|
-0.3 |
% |
|
-9.1 |
% |
|
-9.1 |
% |
|
| Net
loss |
(112,890 |
) |
|
(171,548 |
) |
|
(485,207 |
) |
|
(69,885 |
) |
|
(401,275 |
) |
|
(931,922 |
) |
|
(134,224 |
) |
|
| Minus:
Provision for income taxes |
(28,044 |
) |
|
(10,064 |
) |
|
17,818 |
|
|
2,566 |
|
|
(47,830 |
) |
|
11,160 |
|
|
1,607 |
|
|
| Minus:
Interest income |
5,692 |
|
|
3,716 |
|
|
4,839 |
|
|
697 |
|
|
53,494 |
|
|
21,078 |
|
|
3,036 |
|
|
| Minus:
Interest expenses |
(60,963 |
) |
|
(49,490 |
) |
|
(40,652 |
) |
|
(5,855 |
) |
|
(274,184 |
) |
|
(198,589 |
) |
|
(28,603 |
) |
|
| Minus:
Loss on debt extinguishment |
- |
|
|
(29,841 |
) |
|
- |
|
|
- |
|
|
- |
|
|
(29,841 |
) |
|
(4,298 |
) |
|
| Minus:
Exchange gain |
7,248 |
|
|
8,511 |
|
|
28,849 |
|
|
4,155 |
|
|
72,394 |
|
|
56,341 |
|
|
8,115 |
|
|
| Minus:
Gain from equity method investment |
40,231 |
|
|
2,852 |
|
|
12,591 |
|
|
1,813 |
|
|
52,355 |
|
|
36,018 |
|
|
5,188 |
|
|
| Minus:
Other income |
20,115 |
|
|
23,894 |
|
|
189 |
|
|
27 |
|
|
30,430 |
|
|
28,556 |
|
|
4,113 |
|
|
| Minus:
Other expenses |
(1,848 |
) |
|
(1,010 |
) |
|
(1,825 |
) |
|
(263 |
) |
|
(3,701 |
) |
|
(16,449 |
) |
|
(2,369 |
) |
|
| Plus:
depreciation |
105,355 |
|
|
122,484 |
|
|
129,243 |
|
|
18,615 |
|
|
402,035 |
|
|
478,862 |
|
|
68,970 |
|
|
| Plus:
amortization |
46,917 |
|
|
44,452 |
|
|
47,335 |
|
|
6,818 |
|
|
189,257 |
|
|
186,901 |
|
|
26,919 |
|
|
| Plus:
share-based compensation expense |
40,119 |
|
|
33,381 |
|
|
56,673 |
|
|
8,163 |
|
|
190,027 |
|
|
118,729 |
|
|
17,101 |
|
|
| Plus:
changes in the fair value of contingent purchase consideration
payable |
5,060 |
|
|
(12,285 |
) |
|
(67,197 |
) |
|
(9,678 |
) |
|
43,325 |
|
|
(93,307 |
) |
|
(13,439 |
) |
|
| Plus:
impairment of long-lived assets |
- |
|
|
- |
|
|
392,947 |
|
|
56,596 |
|
|
- |
|
|
392,947 |
|
|
56,596 |
|
|
|
Adjusted EBITDA |
102,130 |
|
|
67,916 |
|
|
51,985 |
|
|
7,489 |
|
|
540,411 |
|
|
243,936 |
|
|
35,134 |
|
|
|
Adjusted EBITDA margin |
10.4 |
% |
|
7.0 |
% |
|
5.8 |
% |
|
5.8 |
% |
|
14.9 |
% |
|
6.7 |
% |
|
6.7 |
% |
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Adjusted
net loss |
(29,128 |
) |
|
(84,107 |
) |
|
(66,092 |
) |
|
(9,520 |
) |
|
(10,804 |
) |
|
(332,857 |
) |
|
(47,940 |
) |
|
| Less:
Net (profit) loss attributable to noncontrolling interest |
(11,194 |
) |
|
37,579 |
|
|
41,951 |
|
|
6,042 |
|
|
(26,824 |
) |
|
114,922 |
|
|
16,552 |
|
|
| Adjusted
net loss attributable to the Company’s ordinary shareholders |
(40,322 |
) |
|
(46,528 |
) |
|
(24,141 |
) |
|
(3,478 |
) |
|
(37,628 |
) |
|
(217,935 |
) |
|
(31,388 |
) |
|
| |
|
|
|
|
|
|
|
|
|
| Adjusted
loss per share |
|
|
|
|
|
|
|
|
|
|
Basic |
(0.08 |
) |
|
(0.02 |
) |
|
(0.08 |
) |
|
(0.01 |
) |
|
(0.06 |
) |
|
(0.40 |
) |
|
(0.06 |
) |
|
|
Diluted |
(0.08 |
) |
|
(0.02 |
) |
|
(0.08 |
) |
|
(0.01 |
) |
|
(0.06 |
) |
|
(0.40 |
) |
|
(0.06 |
) |
|
| Shares
used in adjusted loss per share computation: |
|
|
|
|
|
|
|
|
|
|
Basic* |
523,366,544 |
|
|
682,146,465 |
|
|
681,210,352 |
|
|
681,210,352 |
|
|
492,065,239 |
|
|
617,169,833 |
|
|
617,169,833 |
|
|
|
Diluted* |
523,366,544 |
|
|
682,146,465 |
|
|
681,210,352 |
|
|
681,210,352 |
|
|
492,065,239 |
|
|
617,169,833 |
|
|
617,169,833 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Adjusted
loss per ADS (6 ordinary shares equal to 1 ADS) |
|
|
|
|
|
|
|
|
|
|
Basic |
(0.48 |
) |
|
(0.12 |
) |
|
(0.48 |
) |
|
(0.07 |
) |
|
(0.36 |
) |
|
(2.40 |
) |
|
(0.35 |
) |
|
|
Diluted |
(0.48 |
) |
|
(0.12 |
) |
|
(0.48 |
) |
|
(0.07 |
) |
|
(0.36 |
) |
|
(2.40 |
) |
|
(0.35 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| * Shares used in adjusted loss/ADS per share computation were
computed under weighted average method. |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
| 21VIANET GROUP, INC. |
|
| CONSOLIDATED STATEMENT OF CASH
FLOWS |
|
| (Amount in thousands of Renminbi (“RMB”) and US
dollars (“US$”)) |
|
|
|
|
|
|
|
|
|
| |
Three months
ended |
|
| |
September 30,
2016 |
|
December 31, 2016 |
|
| |
RMB |
|
RMB |
|
US$ |
|
| |
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
| CASH FLOWS FROM
OPERATING ACTIVITIES |
|
|
|
|
| Net
loss |
(171,548 |
) |
|
(485,207 |
) |
|
(69,885 |
) |
|
|
Adjustments to reconcile net loss to net cash generated
from operating
activities: |
|
|
|
|
| Foreign
exchange gain |
(8,511 |
) |
|
(28,849 |
) |
|
(4,155 |
) |
|
| Changes
in the fair value of contingent purchase consideration
payable |
(12,285 |
) |
|
(67,197 |
) |
|
(9,678 |
) |
|
|
Depreciation of property and equipment |
122,484 |
|
|
129,243 |
|
|
18,615 |
|
|
|
Amortization of intangible assets |
45,683 |
|
|
46,103 |
|
|
6,640 |
|
|
|
Provision for doubtful accounts and other receivables |
24,091 |
|
|
48,706 |
|
|
7,015 |
|
|
|
Share-based compensation expense |
33,382 |
|
|
56,672 |
|
|
8,162 |
|
|
| Loss on
debt extinguishment |
29,841 |
|
|
- |
|
|
- |
|
|
| Deferred
income taxes benefit |
(7,969 |
) |
|
(31,605 |
) |
|
(4,552 |
) |
|
| Gain
from equity method investment |
(2,852 |
) |
|
(12,591 |
) |
|
(1,813 |
) |
|
|
Impairment of long-lived assets |
- |
|
|
392,947 |
|
|
56,596 |
|
|
|
Changes in operating assets and
liabilities |
|
|
|
|
|
Restricted cash |
(67,455 |
) |
|
11,846 |
|
|
1,706 |
|
|
|
Inventories |
2,214 |
|
|
1,617 |
|
|
233 |
|
|
| Accounts
and notes receivable |
(32,229 |
) |
|
51,084 |
|
|
7,358 |
|
|
|
Unrecognized tax expense |
717 |
|
|
5,984 |
|
|
862 |
|
|
| Prepaid
expenses and other current assets |
32,589 |
|
|
(9,855 |
) |
|
(1,419 |
) |
|
| Amounts
due from related parties |
(8,839 |
) |
|
(6,359 |
) |
|
(916 |
) |
|
| Accounts
and notes payable |
(22,603 |
) |
|
(20,145 |
) |
|
(2,901 |
) |
|
| Accrued
expenses and other payables |
6,362 |
|
|
25,348 |
|
|
3,652 |
|
|
| Deferred
revenue |
(20,967 |
) |
|
(9,192 |
) |
|
(1,324 |
) |
|
| Advances
from customers |
27,288 |
|
|
12,473 |
|
|
1,796 |
|
|
| Income
taxes payable |
13,594 |
|
|
(14,864 |
) |
|
(2,141 |
) |
|
| Amounts
due to related parties |
834 |
|
|
4,031 |
|
|
581 |
|
|
| Deferred
government grants |
(2,291 |
) |
|
(1,344 |
) |
|
(194 |
) |
|
| Gain
from cost method investment |
(5,160 |
) |
|
- |
|
|
- |
|
|
|
Net cash (used in) generated from operating
activities |
(23,630 |
) |
|
98,846 |
|
|
14,238 |
|
|
| CASH FLOWS FROM
INVESTING ACTIVITIES |
|
|
|
|
|
Purchases of property and equipment |
(140,291 |
) |
|
(126,341 |
) |
|
(18,197 |
) |
|
|
Purchases of intangible assets |
(5,742 |
) |
|
(9,910 |
) |
|
(1,427 |
) |
|
| Payment
for asset acquisition |
(25,024 |
) |
|
(6,859 |
) |
|
(988 |
) |
|
| Receipt
of loans from third parties |
- |
|
|
40,000 |
|
|
5,761 |
|
|
| Payments
for short-term investments |
- |
|
|
(272,914 |
) |
|
(39,308 |
) |
|
| Proceeds
received from maturity of short-term investments |
- |
|
|
10,000 |
|
|
1,440 |
|
|
| Payments
for long-term investments |
- |
|
|
(5,025 |
) |
|
(724 |
) |
|
| Proceeds from long-term
investments |
11,269 |
|
|
- |
|
|
- |
|
|
| Minority investment in
ZJK Energy |
- |
|
|
4,000 |
|
|
576 |
|
|
| Net cash used
in investing activities |
(159,788 |
) |
|
(367,049 |
) |
|
(52,867 |
) |
|
| CASH FLOWS FROM
FINANCING ACTIVITIES |
|
|
|
|
|
Restricted cash |
(1,623,127 |
) |
|
(76,284 |
) |
|
(10,987 |
) |
|
| Proceeds
from exercise of stock options |
401 |
|
|
662 |
|
|
95 |
|
|
| Proceeds
from long-term bank borrowings |
49,650 |
|
|
54,620 |
|
|
7,867 |
|
|
| Proceeds
from short-term bank borrowings |
1,570,676 |
|
|
37,000 |
|
|
5,329 |
|
|
|
Repayments of short-term bank borrowings |
(30,000 |
) |
|
(123,000 |
) |
|
(17,716 |
) |
|
|
Repayments of long-term bank borrowings |
(6,084 |
) |
|
(27,003 |
) |
|
(3,889 |
) |
|
|
Repayments of 2017 Bonds |
(1,596,335 |
) |
|
- |
|
|
- |
|
|
|
Consideration paid to selling shareholders |
- |
|
|
(142 |
) |
|
(20 |
) |
|
|
Prepayment for shares repurchase plan |
(27,245 |
) |
|
28,004 |
|
|
4,033 |
|
|
| Payments
for shares repurchase plan |
(13,058 |
) |
|
(29,607 |
) |
|
(4,264 |
) |
|
| Payments
for capital leases |
(41,038 |
) |
|
(61,616 |
) |
|
(8,875 |
) |
|
| Net cash used
in financing activities |
(1,716,160 |
) |
|
(197,366 |
) |
|
(28,427 |
) |
|
| |
|
|
|
|
|
|
|
|
|
| Effect of
foreign exchange rate changes on cash and short
term
investments |
6,991 |
|
|
100,505 |
|
|
14,476 |
|
|
| Net decrease in
cash and cash equivalents |
(1,892,587 |
) |
|
(365,064 |
) |
|
(52,580 |
) |
|
| Cash and cash
equivalents at beginning of
period |
3,555,069 |
|
|
1,662,482 |
|
|
239,447 |
|
|
| Cash and cash
equivalents at end of period |
1,662,482 |
|
|
1,297,418 |
|
|
186,867 |
|
|
| |
|
|
|
|
Investor Relations Contacts:
21Vianet Group, Inc.
Calvin Jiang
+86 10 8456 2121
IR@21Vianet.com
ICR, Inc.
Xueli Song
+1 (646) 405-4922
IR@21Vianet.com
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