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RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2020

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

27   RELATED PARTY TRANSACTIONS

In 2018, 2019 and 2020, the related parties of the Company are as follows:

​

	​
Name of party		Relationship
​	​	​
STT GDC	​	Principal ordinary shareholder of the Company
STT Singapore DC Pte. Ltd.	​	Subsidiary of STT GDC
STT DEFU 2 Pte. Ltd.	​	Subsidiary of STT GDC

​

In addition to the related party information disclosed elsewhere in the consolidated financial statements, the Company entered into the following material related party transactions.

(a)   Major transactions with related parties

​

​	​	​	​	​	​	​	​	​
​	​	​	​	Years ended December 31,
​				2018		2019		2020
​	​	​	​	​	​	​	​	​
Commission income	​	(Note)	​	​	​	​	​	​
STT Singapore DC Pte. Ltd.	​	​	​	—	​	624	​	553
STT DEFU 2 Pte. Ltd.	​	​	​	—	​	332	​	485
​	​	​	​	—	​	956	​	1,038

​

(b)  Major balances with related parties

​

​	​	​	​	​	​	​
​	​	​	​	As of December 31,
​		​		2019		2020
​	​	​	​	​	​	​
Amount due to related parties:	​	(Note)	​
STT Singapore DC Pte. Ltd.	​	​		5,350		7,938
STT DEFU 2 Pte. Ltd.	​	​		6,638		7,422
​	​	​	​	11,988	​	15,360

Note: During the year ended December 31, 2019, the Company successfully referred a customer to STT Singapore DC Pte. Ltd. and STT DEFU 2 Pte. Ltd. and recognized RMB624 and RMB332, respectively, as commission income. Income earned is based on amount billed on behalf of these two related parties to the ultimate customer amounting to RMB55,392 and RMB43,069, respectively. As of December 31, 2019, amount due to related parties represents the service fee received on behalf of the related parties for one of their customers located in China, which is recorded in accrued expenses and other payables.

During the year ended December 31, 2020, the Company recognized RMB553 and RMB485, respectively, as commission income from STT Singapore DC Pte. Ltd. and STT DEFU 2 Pte. Ltd. Income earned is based on amount billed on behalf of these two related parties to the ultimate customer amounting to RMB40,503 and RMB40,256, respectively. As of December 31, 2020, amount due to related parties represents the service fee received on behalf of the related parties for one of their customers, which is recorded in accrued expenses and other payables.

These amounts due to related parties are trade in nature and are settled on a recurring basis.

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- References

No definition available.

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- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-URI http://asc.fasb.org/topic&trid=2122745

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864

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