ChinaCache International Holdings Ltd.

CIK:0001498576|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATION AND COMPREHENSIVE LOSS	12 Months Ended
	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares	Dec. 31, 2020 CNY (¥) ¥ / shares
Revenues:
Third party revenues	¥ 163,330,000	$ 23,681,000	¥ 149,884,000	¥ 279,832,000
Total revenues	163,330,000	23,681,000	149,884,000	279,832,000
Cost of revenues	(141,322,000)	(20,490,000)	(116,468,000)	(204,655,000)
Gross profit	22,008,000	3,191,000	33,416,000	75,177,000
Other operating income, net	51,000	7,000	82,000	567,000
Sales and marketing expenses	(7,365,000)	(1,068,000)	(22,316,000)	(22,174,000)
General and administrative expenses	(21,545,000)	(3,124,000)	(43,782,000)	(55,097,000)
(Provision for)/ recovery of doubtful accounts	(9,450,000)	(1,370,000)	(3,144,000)	2,121,000
Research and development expenses	(146,000)	(21,000)	(262,000)	(10,640,000)
Impairment of long-lived assets	0	0	(114,000)	(9,356,000)
Total operating expenses	(38,506,000)	(5,583,000)	(69,618,000)	(95,146,000)
Operating loss	(16,447,000)	(2,385,000)	(36,120,000)	(19,402,000)
Interest income	153,000	22,000	101,000	85,000
Interest expense \| ¥				(1,592,000)
Other (expenses)/ income, net	34,011,000	4,931,000	6,793,000	(4,513,000)
Foreign exchange loss/(gain)	(19,121,000)	(2,772,000)	(6,010,000)	13,840,000
Loss from continuing operations before income taxes	(1,404,000)	(204,000)	(35,236,000)	(11,582,000)
Income tax expense	(7,080,000)	(1,027,000)	(103,000)	(6,000)
Loss from continuing operations	(8,484,000)	(1,231,000)	(35,339,000)	(11,588,000)
Discontinued operations:
Net (loss)/income from discontinued operations	463,574,000	67,212,000	20,867,000	(60,919,000)
(Loss)/income attributable to noncontrolling interests	5,154,000	748,000	211,000	(616,000)
(Loss)/income from discontinued operations	468,728,000	67,960,000	21,078,000	(61,535,000)
Less: net (loss)/income attributable to noncontrolling interest	5,154,000	748,000	211,000	(616,000)
Net (loss)/income attributable to the Company's shareholders	¥ 455,090,000	$ 65,981,000	¥ (14,472,000)	¥ (72,507,000)
Denominator
Weighted average shares used in calculating basic net loss per ordinary share	436,816,529	436,816,529	436,816,529
Weighted average shares used in calculating diluted net loss per ordinary share	436,816,529	436,816,529	436,816,529
Net Loss per ordinary share from continuing operation
Basic \| (per share)	¥ (0.02)	$ 0.00	¥ (0.08)	¥ (0.03)
Diluted \| (per share)	(0.02)	0.00	(0.08)	(0.03)
Net (Loss)/income per ordinary share from discontinued
Basic \| (per share)	1.06	0.15	0.05	(0.14)
Diluted \| (per share)	¥ 1.06	$ 0.15	¥ 0.05	¥ (0.14)
Net (loss)/Income	¥ 460,244,000	$ 66,729,000	¥ (14,261,000)	¥ (73,123,000)
Foreign currency translation adjustment	18,244,000	2,645,000	(1,871,000)	(12,218,000)
Total other comprehensive (loss)/income net of tax	18,244,000	2,645,000	(1,871,000)	(12,218,000)
Comprehensive (loss)/income	478,488,000	69,374,000	(16,132,000)	(85,341,000)
Less: comprehensive (loss)/income attributable to noncontrolling interest	5,154,000	748,000	211,000	(616,000)
Comprehensive (loss)/income attributable to the Company's shareholders	¥ 473,334,000	$ 68,626,000	¥ (16,343,000)	¥ (84,725,000)

CONSOLIDATED STATEMENTS OF CASH FLOWS	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Cash flows from operating activities:
Net loss	¥ 460,244,000	$ 66,729,000	¥ (14,261,000)	¥ (73,123,000)
Less:Net (loss)/income from discontinued operations	468,728,000	67,960,000	21,078,000	(61,535,000)
Net (loss) from continuing operations	(8,484,000)	(1,231,000)	(35,339,000)	(11,588,000)
Depreciation of property and equipment				920,000
Non cash lease expense			2,469,000	4,307,000
Allowance for doubtful accounts	9,450,000	1,370,000	3,144,000	(2,121,000)
Impairment of long-lived assets	0	0	114,000	9,356,000
Loss/(gain) from disposal of property and equipment				(710,000)
Gain related to long-term investment	(454,000)	(66,000)
Interest expense adjustment				1,592,000
Foreign exchange (loss)/gain	19,121,000	2,772,000	6,010,000	(13,840,000)
Share-based compensation			87,000	620,000
Amortization of other non-current asset			9,000	2,512,000
Amortization of deferred government grant				(302,000)
Changes in operating assets and liabilities:
Accounts receivable	(12,000)	(2,000)	38,362,000	26,585,000
Prepaid expense and other current assets	(4,263,000)	(618,000)	234,000	(25,106,000)
Accounts payable	(10,678,000)	(1,548,000)	(5,046,000)	3,925,000
Accrued employee benefits	(2,386,000)	(346,000)	(2,193,000)	(5,801,000)
Accrued expenses and other payables	(1,606,000)	(233,000)	10,542,000	13,458,000
Income tax payable	8,389,000	1,216,000	(1,249,000)	(2,490,000)
Amounts due from related parties				65,000
Amounts due to a related party			(26,000)	(1,000)
Operating lease liabilities			(2,427,000)	(37,455,000)
Other non-current liabilities			(9,210,000)	9,210,000
Net cash (used in)/provided by continuing operations	9,077,000	1,314,000	5,481,000	(26,864,000)
Net cash provided by discontinued operations	49,886,000	7,234,000	71,335,000	109,465,000
Net cash provided by operating activities	58,963,000	8,548,000	76,816,000	82,601,000
Cash flows from investing activities:
Purchases of long-lived assets			(106,000)	(4,260,000)
Distributions from long-term investments	454,000	66,000
Proceeds from disposal of property and equipment				142,000
Net cash (used in)/provided by continuing operations	454,000	66,000	(106,000)	(4,118,000)
Net cash used in discontinued operations	(16,547,000)	(2,399,000)	(26,058,000)	(48,218,000)
Net cash (used in)/provided by investing activities	(16,093,000)	(2,333,000)	(26,164,000)	(52,336,000)
Cash flows from financing activities:
Net cash used in discontinued operations			(28,449,000)	(41,467,000)
Net cash used in financing activities			(28,449,000)	(41,467,000)
Net (decrease)/increase in cash and cash equivalents and restricted cash	42,870,000	6,215,000	22,203,000	(11,202,000)
Cash and cash equivalents and restricted cash at beginning of the year	45,513,000	6,599,000	31,291,000	41,144,000
Effect of foreign exchange rate changes on cash	(877,000)	(127,000)	(7,981,000)	1,349,000
Cash, cash equivalents and restricted cash at end of the year	87,506,000	12,687,000	45,513,000	31,291,000
Supplemental disclosures of cash flow information:
Interest received	153,000	22,000		85,000
Income tax paid	¥ (5,000)	$ (1,000)	¥ (5,000)	(6,000)
Supplemental disclosures of non-cash activities:
Obtaining right-of-use assets in exchange for lease liabilities				¥ 7,414,000

CONSOLIDATED BALANCE SHEETS ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Current assets:
Cash and cash equivalents	¥ 81,179	$ 11,770	¥ 38,251
Restricted cash	6,327	917	5,867
Accounts receivable, net	15,276	2,215	24,483
Prepaid expenses and other current assets, net	46,891	6,799	42,859
Current assets of discontinued operations			372,498
Total current assets	149,673	21,701	483,958
Non-current assets:
Long term investments	30,148	4,371	30,148
Operating lease right-of-use asset			3,400
Long term deposits and other non-current assets	174	25	174
Non-current assets of discontinued operations			518,816
Total non-current assets	30,322	4,396	552,538
TOTAL ASSETS	179,995	26,097	1,036,496
Current liabilities:
Accounts payable	251,941	36,528	262,619
Accrued employee benefits	23,678	3,433	26,064
Accrued expenses and other current liabilities	67,757	9,824	69,363
Income tax payable	34,324	4,977	25,935
Current portion of operating lease liability			2,565
Current liabilities of discontinued operations			1,294,099
Total current liabilities	377,700	54,762	1,680,645
Non-current liabilities:
Non-current portion of operating lease liability			905
Deferred government grant	14,350	2,081	14,350
Non-current liabilities of discontinued operations			31,139
Total non-current liabilities	14,350	2,081	46,394
Total liabilities	392,050	56,843	1,727,039
Commitments and contingencies
Shareholders' deficit:
Ordinary shares (US$0.0001 par value; 1,000,000,000 and 1,000,000,000 shares authorized; 436,816,529 and 436,816,529 shares issued and outstanding as of December 31, 2021 and 2022, respectively)	338	44	338
Additional paid-in capital	1,581,771	229,335	1,581,771
Treasury stock	(15,332)	(2,223)	(15,332)
Statutory reserves	1,326	192	1,326
Accumulated deficit	(1,784,129)	(258,674)	(2,239,219)
Accumulated other comprehensive (loss)/income	3,971	580	(14,273)
Total ChinaCache International Holdings Ltd. shareholders' deficit	(212,055)	(30,746)	(685,389)
Noncontrolling interest			(5,154)
Total shareholder's deficit	(212,055)	(30,746)	(690,543)
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT	¥ 179,995	$ 26,097	¥ 1,036,496