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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Sep. 30, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Schedule of unaudited financial information of the consolidated VIEs before eliminating the intercompany balances and transactions between the consolidated VIEs and other entities within the Company | ​
​ | ​ | ​ | ​ | ​
​ |  | As of
​ | ​ | December 31, 2023 | ​ | September 30, 2024
​ |  | RMB |  | RMB
ASSETS |  |  |  |
Current assets: |  |  |  |
Cash and cash equivalents |  | 923,692 |  | 887,756
Restricted cash |  | 434,421 |  | 336,835
Accounts receivable |  | 1,412,456 |  | 1,643,749
Prepaid expenses and other current assets |  | 2,081,948 |  | 2,338,063
Amounts due from related parties |  | 58,823 |  | 59,167
Total current assets |  | 4,911,340 |  | 5,265,570
Non-current assets: |  |  |  |
Property and equipment, net |  | 7,398,768 |  | 7,335,083
Intangible assets, net |  | 453,606 |  | 448,077
Land use rights, net |  | 56,971 |  | 55,796
Operating lease right-of-use assets, net |  | 3,948,272 |  | 4,361,070
Restricted cash |  | 382 |  | 382
Deferred tax assets, net |  | 208,266 |  | 257,352
Other non-current assets |  | 148,383 |  | 186,563
Long-term investments, net |  | 168,377 |  | 160,101
Total non-current assets |  | 12,383,025 |  | 12,804,424
Total assets |  | 17,294,365 |  | 18,069,994
Current liabilities: |  |  |  |
Short-term bank borrowings |  | 30,000 |  | 552,270
Accounts and notes payable |  | 493,837 |  | 603,469
Accrued expenses and other payables |  | 1,616,423 |  | 1,116,332
Advances from customers |  | 1,605,247 |  | 1,752,935
Deferred revenue |  | 83,546 |  | 81,087
Income taxes payable |  | 13,531 |  | 14,038
Amounts due to inter-companies, net * |  | 4,736,035 |  | 3,618,592
Amounts due to related parties |  | 356,080 |  | 354,902
Current portion of finance lease liabilities |  | 97,388 |  | 86,861
Current portion of long-term borrowings |  | 544,803 |  | 977,069
Current portion of deferred government grants |  | 8,062 |  | 8,538
Current portion of operating lease liabilities |  | 754,935 |  | 858,491
Total current liabilities |  | 10,339,887 |  | 10,024,584
Non-current liabilities: |  |  |  |
Amounts due to inter-companies, net* |  | 1,020,972 |  | 1,020,972
Long-term borrowings |  | 2,464,811 |  | 3,075,078
Non-current portion of finance lease liabilities |  | 720,954 |  | 748,256
Unrecognized tax benefits |  | 98,082 |  | 98,082
Deferred tax liabilities |  | 139,174 |  | 124,516
Deferred government grants |  | 11,862 |  | 35,771
Non-current portion of operating lease liabilities |  | 3,230,506 |  | 3,550,870
Total non-current liabilities |  | 7,686,361 |  | 8,653,545
Total liabilities |  | 18,026,248 |  | 18,678,129
​
​ | ​ | ​ | ​ | ​
​ | ​ | For the nine months ended September 30,
​ |  | 2023 |  | 2024
​ | ​ | RMB | ​ | RMB
Net revenues |  | 4,797,734 |  | 5,346,385
Net income |  | 42,318 |  | 142,932
​
​ | ​ | ​ | ​ | ​
​ | ​ | For the nine months ended September 30,
​ |  | 2023 |  | 2024
​ | ​ | RMB | ​ | RMB
Net cash generated from operating activities |  | 1,022,231 |  | 1,380,727
Net cash used in investing activities |  | (1,053,087) |  | (1,003,813)
Net cash used in financing activities |  | (181,814) |  | (510,436)
Net decrease in cash and cash equivalents and restricted cash |  | (212,670) |  | (133,522)
| * | Amounts due to inter-companies consist of intercompany payables to the other companies within the Company for the purchase of telecommunication resources and property and equipment on behalf of the consolidated VIEs.

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- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-5A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-9 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-4 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-6 + Details
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