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PARENT ONLY FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2020

PARENT ONLY FINANCIAL INFORMATION

PARENT ONLY FINANCIAL INFORMATION

28   PARENT ONLY FINANCIAL INFORMATION

The following condensed parent company financial information of GDS Holdings has been prepared using the same accounting policies as set out in the accompanying consolidated financial statements except that the equity method has been used to account for investments in its subsidiaries. As of December 31, 2020, there were no material contingencies, significant provisions of long-term obligations, mandatory dividend or redemption requirements of redeemable stocks or guarantees of GDS Holdings, except for those, which have been separately disclosed in the consolidated financial statements.

​

Condensed Balance Sheets

​

​	​	​	​	​
​	​	As of December 31,
​		2019		2020
Assets
​	​	​	​	​
Current assets
Cash		2,560,388		12,312,249
Prepaid expenses	​	7,048	​	39,187
Other current assets	​	21,537	​	23,136
Total current assets		2,588,973		12,374,572
Restricted cash	​	27,225	​	—
Investment and loans to subsidiaries		11,539,590		16,146,058
Other non-current assets	​	4,954	​	3,616
Total assets		14,160,742		28,524,246
​	​	​	​	​
Liabilities, Mezzanine Equity and Shareholders’ Equity		​		​
​	​	​	​	​
Current liabilities		​		​
Accounts payable		7,168		12,451
Accrued expenses and other payables		49,546		29,790
Due to subsidiaries		928		868
Total current liabilities		57,642		43,109
​	​	​	​	​
Long-term borrowings	​	681,235	​	—
Convertible bonds payable		2,049,654		1,928,466
Other long-term liabilities		16,649		5,769
Total liabilities		2,805,180		1,977,344
​	​	​	​	​
Mezzanine equity	​	​	​	​
Redeemable preferred shares (US$0.00005 par value; 150,000 shares authorized, issued and outstanding as of December 31, 2019 and December 31, 2020, respectively; Redemption value of RMB1,061,981 and RMB980,910 as of December 31, 2019 and December 31, 2020, respectively; Liquidation value of RMB1,537,636 and RMB2,576,578 as of December 31, 2019 and December 31, 2020, respectively)	​	1,061,981	​	980,910
Total mezzanine equity	​	1,061,981	​	980,910
​	​	​	​	​
Shareholders' equity	​	​	​	​
Ordinary shares (US$0.00005 par value; 2,002,000,000 authorized; 1,148,842,379 and 1,427,590,059 Class A ordinary shares issued and outstanding as of December 31, 2019 and 2020, respectively; 67,590,336 Class B ordinary shares issued and outstanding as of December 31, 2019 and 2020, respectively)		412		507
Additional paid-in capital		12,403,043		28,728,717
Accumulated other comprehensive loss		(52,684)		(439,635)
Accumulated deficit		(2,057,190)		(2,723,597)
Total shareholders’ equity		10,293,581		25,565,992
Commitments and contingencies		​		​
​	​	​	​	​
Total liabilities, mezzanine equity and shareholders’ equity		14,160,742		28,524,246

​

Condensed Statements of Operations

​

​	​	​	​	​	​	​
​	​	Years ended December 31,
​		2018		2019		2020
​	​	​	​	​	​	​
Net revenue		—		—	​	—
Cost of revenue		(21,132)		(50,201)	​	(94,312)
Gross loss		(21,132)		(50,201)	​	(94,312)
​	​	​	​	​	​	​
Operating expenses		​		​	​	​
Selling and marketing expenses		(26,595)		(40,721)	​	(58,649)
General and administrative expenses		(96,581)		(153,854)	​	(224,934)
Research and development expenses	​	(949)	​	(2,364)	​	(4,596)
Loss from operations		(145,257)		(247,140)	​	(382,491)
​	​	​	​	​	​	​
Other income (expenses):		​		​	​	​
Interest income		14,907		48,020	​	18,641
Interest expenses		(48,809)		(128,539)	​	(155,605)
Equity in loss of subsidiaries		(251,085)		(114,418)	​	(144,153)
Others, net		(24)		(6)	​	(2,799)
Loss before income taxes		(430,268)		(442,083)	​	(666,407)
​	​	​	​	​	​	​
Income tax expenses		—		—	​	—
Net loss		(430,268)		(442,083)	​	(666,407)

​

Condensed Statements of Comprehensive Loss

​

​	​	​	​	​	​	​
​	​	Years ended December 31,
​		2018		2019		2020
​	​	​	​	​	​	​
Net loss		(430,268)		(442,083)	​	(666,407)
Other comprehensive income (loss):		​		​	​	​
Foreign currency translation adjustments, net of nil tax		61,434		86,570	​	(386,951)
Comprehensive loss	​	(368,834)	​	(355,513)	​	(1,053,358)

​

Condensed Statements of Cash Flows

​

​	​	​	​	​	​	​
​	​	Years ended December 31,
​		2018		2019		2020
​	​	​	​	​	​	​
Operating activities:					​	​
Net cash used in operating activities		(33,729)		(48,514)	​	(45,269)
​	​	​	​	​	​	​
Investing activities:		​		​	​	​
Increase of due from subsidiaries		(3,846,353)		(4,473,682)	​	(4,940,005)
Net cash used in investing activities		(3,846,353)		(4,473,682)	​	(4,940,005)
​	​	​	​	​	​	​
Financing activities:		​		​	​	​
Proceeds from long-term borrowings		413,433		268,100	​	—
Payment of issuance cost of borrowings		(25,751)		—	​	(10,619)
Payment of commitment cost of borrowings	​	—	​	—	​	(45,968)
Repayment of long-term borrowings	​	—	​	—	​	(657,820)
Proceeds from exercise of stock options		16,866		55,469	​	78,748
Net proceeds from issuance of convertible bonds		1,867,304		—	​	—
Net proceeds from issuance of ordinary shares	​	1,283,308	​	4,934,126	​	15,974,517
Net proceeds from issuance of redeemable preferred shares	​	—	​	989,349	​	—
Payment of redeemable preferred shares dividends	​	—	​	(25,014)	​	(65,489)
Net cash provided by financing activities		3,555,160		6,222,030	​	15,273,369
Effect of exchange rate changes on cash and restricted cash		143,216		70,291	​	(563,459)
​	​	​	​	​	​	​
Net (decrease) increase in cash and restricted cash		(181,706)		1,770,125	​	9,724,636
Cash and restricted cash at beginning of year		999,194		817,488	​	2,587,613
Cash and restricted cash at end of year		817,488		2,587,613	​	12,312,249
​	​	​	​	​	​	​
Supplemental disclosures of cash flow information		​		​	​	​
Interest paid		24,308		88,818	​	92,509
​	​	​	​	​	​	​
Supplemental disclosures of non-cash investing and financing activities		​		​	​	​
Settlement of liability-classified restricted share award	​	6,357	​	7,984	​	10,089
Conversion of convertible bonds		—		—	​	65

​

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- References

No definition available.

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- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section S99
-Paragraph 6
-Subparagraph (SX 210.5-04(Schedule I))
-URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

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