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CONSOLIDATED STATEMENTS OF CASH FLOWS - CNY (¥)
¥ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net loss ¥ (669,214) ¥ (442,083) ¥ (430,268)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Amortization of debt issuance and commitment cost and debt discount 160,699 99,380 61,373
Depreciation and amortization 1,638,474 1,142,032 741,507
Operating lease cost relating to prepaid land use rights 20,412    
Net loss (gain) on disposal of property and equipment (256) (703) 2,212
Share-based compensation expenses 333,686 189,756 105,877
Gain from purchase price adjustment (55,154)    
Loss from equity method investment 3,375 1,213  
Allowance for doubtful accounts 2,037 274 241
Deferred tax benefit (89,739) (50,172) (36,597)
Changes in operating assets and liabilities, net of effect of acquisitions:      
Accounts receivable (465,189) (342,191) (157,708)
VAT recoverable (463,630) (323,044) (221,390)
Prepaid expenses (53,933) (13,320) (14,153)
Other current assets 65,756 (8,095) (11,477)
Other non-current assets (72,099) (8,678) (37,035)
Accounts payable 119,163 22,540 25,292
Deferred revenue 6,285 31,417 17,468
Accrued expenses and other payables (139,891) (20,434) (56,693)
Other long-term liabilities 9,015 1,299 (1,559)
Operating leases (28,910) 14,245  
Net cash (used in) provided by operating activities 320,887 293,436 (12,910)
Cash flows from investing activities      
Payments for purchase of property and equipment and land use rights (8,037,002) (4,557,686) (4,260,977)
Cash acquired from the business combinations 4,801 12,091 466
Cash paid for the business combinations (1,172,518) (190,066) (359,372)
Cash paid for the asset acquisitions (180,910) (363,939) (115,167)
Cash paid for equity investments (4,500) (6,000)  
Cash paid for potential acquisitions (4,300) (30,700) (1,000)
Proceeds from sale of property and equipment 16,422 5,069 13,896
Deposits paid for construction of property and equipment     (10,896)
Net cash used in investing activities (9,378,007) (5,131,231) (4,733,050)
Cash flows from financing activities:      
Proceeds from short-term borrowings 1,156,215 467,744 943,088
Proceeds from long-term borrowings 6,939,140 5,000,510 2,814,197
Repayment of short-term borrowings (438,925) (758,941) (776,224)
Repayment of long-term borrowings (4,187,184) (1,968,913) (834,154)
Payment of issuance cost of borrowings (112,512) (156,742) (91,124)
Payment of commitment cost of borrowings (45,968)    
Proceeds from exercise of stock options 78,748 55,469 16,866
Net proceeds from issuance of convertible bonds     1,867,304
Net proceeds from issuance of ordinary shares 15,974,517 4,934,126 1,283,308
Net proceeds from issuance of redeemable preferred shares   989,349  
Payment of redeemable preferred shares dividends (65,489) (25,014)  
Capital contribution from redeemable non-controlling shareholder 105,000    
Payment under finance leases and other financing obligations (198,234) (289,467) (190,718)
Proceeds from other financing arrangements 1,079,370 302,761  
Payment for purchase of property and equipment through vendor financing (92,299) (68,864)  
Payment of contingent consideration for the acquisition of subsidiaries (48,718) (120,079) (155,737)
Net cash provided by financing activities 20,143,661 8,361,939 4,876,806
Effect of exchange rate changes on cash and restricted cash (566,874) 164,370 206,302
Net increase in cash and restricted cash 10,519,667 3,688,514 337,148
Cash and restricted cash at beginning of year 5,973,262 2,284,748 1,947,600
Cash and restricted cash at end of year 16,492,929 5,973,262 2,284,748
Supplemental disclosures of cash flow information      
Interest paid 1,113,443 841,388 633,063
Income tax paid 211,612 17,031 3,371
Supplemental disclosures of non-cash investing and financing activities      
Changes in consideration payable for the acquisition of subsidiaries 718,546 239,096 148,217
Settlement of liability-classified restricted share award 10,089 ¥ 7,984 ¥ 6,357
Conversion of convertible bonds ¥ 65