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A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014
PAGE 1 / 19
Note: This document is the Appendix section of Trinity Research
Group’s report “A Ponzi Scheme of Acquisitions: 21 Vianet Group
Exposed”.
The report is available here:
www.trinityresearchgroup.com
http://seekingalpha.com/author/trinityresearch/articles
A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014
PAGE 2 / 19
A. List of VNET’s 72 data centers
As per VNET official website at http://www.ch.21vianet.com/?page_id=927
P is referred as partnered cabinets and S is referred as self-built cabinets
No Data Centers Address P/S
Total
Cabinets
No. of
cabinets
managed
No. of
cabinets
sold
Utilizatio
n rate
Notes
1
北京 B28 数据中心1 北京市朝阳区酒仙桥路 10 号恒
通商务园 B28B
S 1400 1400 1350 96.4%
including
B28 phase
IIIBeijing B28 Data
Center
Building B28B, Hetong Business
Zone, No. 10, Jiuxianqiao Road,
Chaoyang District, Beijing
2
北京 M5 数据中心2 北京市朝阳区酒仙桥东路 1 号
M5 楼二层
S 700 700 670 95.7%
Beijing M5 Data
Center
Floor 2, Building M5, No.1,
Jiuxianqiao Road East, Chaoyang
District, Beijing
3
北京 M6 数据中心3 北京市朝阳区酒仙桥东路 1 号
电子城 M6 楼
S 1682 1682 1200 71.3%
Beijing M6 Data
Center
Building M6, No.1, Jiuxianqiao
Road East, Chaoyang District,
Beijing
4
北京大兴星光数据
中心4
北京市大兴区西红门北兴路东
段 2 号星光影视园 A-1 楼
S 1690 1690 400 23.7%
Put into
use on
May 28,
2014.
Phase I-
1500
cabinets
Beijing Daxing
Starlight Data Center
Building A-1, Starlight Studio,
No.2 Beixing Road East, Daxing
District, Beijing
5
上海市北数据中心5 上海市闸北区江场三路 217 号 2
楼
S 351 351 300 85.5%
Shanghai City North
Telecom Data Center
Floor 2, No.217 Jiangchang third
Road, Zhabei District, Shanghai
No Data Centers Address P/S
Total
Cabinets
Utilizatio
n rate
Notes
1
http://www.pengpan.cn/index.php/archives/208 and http://www.fastweb.com.cn/a/news/industry/2013/0613/69.html
2
http://storage.it168.com/a2011/0318/1167/000001167851_all.shtml and http://datacenter.chinabyte.com/495/8747995.shtml
3
http://www.pengpan.cn/index.php/archives/583
4
http://it.chinabyte.com/274/12813274.shtml
5
http://www.pengpan.cn/index.php/archives/620
A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014
PAGE 3 / 19
No. of
cabinets
managed
No. of
cabinets
sold
6
上海纪蕴数据中心6 上海市宝山区纪蕰路 588 号 1
号楼
S 877 877 450 51.3%
Shanghai Jiyun Data
Center
Floor 1, No.588, Jiyun Road,
Baoshan District, Shanghai
7
山东省青岛经济技
术开发区数据中心7
山东省青岛市经济技术开发区
江山南路 458 号
S 129 129 110 85.3% phase IShandong Qingdao
Economic Zone Data
Center
No.458, Jiangshan Road South,
Economic Development Zone,
Qingdao, Shandong Province
8
广东省佛山智慧城
市数据中心8
广东省佛山市禅城区智慧新城
智慧路世纪互联园区 1 号楼
S 1145 1145 200 17.5%
Foshan Intelligent
City Data Center
Building #1, Zhihui Road,
Chancheng District, Foshan,
Guangdong Province
9
陕西省西安市经开
数据中心9
陕西省西安市经开区凤城 12 路
出口加工区内二期多层厂房 1
号
S 1200 1200 950 79.2%
Shanxi Xian
Economic Zone Data
Center
No.1 Export Zone, Fengcheng
10th
Road, Xian Economic Zone,
Shanxi Province
10
北京亦庄同济中路
数据中心10
北京经济技术开发区同济中路 1
5 号
S 900 900 700 77.8%Beijing Tongji
Central Road Data
Center
No.15, Tongji Road Central,
Beijing Economic Development
Zone, Daxing District, Beijing
11
安徽省宿州市高新
区数据中心11 安徽省宿州市高新区拂晓大道
S 184 184 50 27.2% phase I
Suzhou HiTech Zone
Data Center
21viaNet Cloud computing zone,
Foxiao Street, Hitech Zone,
Suzhou, Anhui Province
12
浙江省宁波高新区
数据中心12
浙江省宁波市高新区创苑路 750
号 D 座 1 楼
S 276 276 150 54.3%
Ningbo Hitech Zone
Data Center
Floor 1, Building D, No.750
Chuangyuan Road, Hitech
District, Ningbo, Zhejiang
Province
Total self-built cabinets 10534 10534 6530 62.0%
6
http://www.pengpan.cn/index.php/archives/35
7
http://www.pengpan.cn/index.php/archives/272
8
http://www.pengpan.cn/index.php/archives/4
9
http://www.pengpan.cn/index.php/archives/632 and http://www.c114.net/news/102/a440125.html
10
http://www.pengpan.cn/index.php/archives/224
11
http://www.50cnnet.com/index.php?a=show&c=index&catid=146&id=46983&m=content
12
http://www.pengpan.cn/index.php/archives/398
A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014
PAGE 4 / 19
No Data Centers Address P/S
Total
Cabinets
No. of
cabinets
managed
No. of
cabinets
sold
Utilization
rate
Notes
13
北京移动酒仙桥数
据中心13 北京市朝阳区彩虹路 9 号
P 240 100 90 90.0%Beijing Mobile
Jiuxianqiao Data
Center
No.9, Caihong Road, Chaoyang
District, Beijing
14
北京兆维电信数据
中心14
北京市朝阳区酒仙桥路 14 号兆
维工业园区 D 区 1 号楼
P 4000 200 190 95.0%
Beijing Telecom
Zhaowei Data Center
Building No.1, Zone D, Zhaowei
Industrial Zone, No.14,
Jiuxianqiao Road, Chaoyang
District, Beijing
15
北京联通兆维数据
中心15
北京市朝阳区酒仙桥路 14 号兆
维工业园区 D 区 1 号楼
P 1199 100 95 95.0%
Beijing Unicom
Zhaowei Data Center
Building No.1, Zone D, Zhaowei
Industrial Zone, No.14,
Jiuxianqiao Road, Chaoyang
District, Beijing
16
北京联通亦庄联通
数据中心16
北京大兴区亦庄经济技术开发
区北环东路一号国际 IDC
P 1870 200 190 95.0%
Beijing Unicome
Yizhuang Data Center
No.1, Beihuan Road East,
Yizhuang Economic
Development Zone, Daxing
District, Beijing
17
北京联通亦庄电话
局数据中心17
北京大兴区亦庄中和街 1 号联
通亦庄电话局
P 388 350 340 97.1%Beijing Unicom
Yizhuang Telephone
Station Data Center
No.1, Zhonghe Street, Yizhuang,
Daxing District, Beijing
18
北京联通南苑数据
中心18 北京市丰台区南苑东路 162 号
P 450 450 350 77.8%
Beijing Unicom
Nanyuan Data Center
No. 162, Nanyuan Road East,
Fengtai District, Beijing
19
北京海淀温泉路数
据中心19
北京市海淀区温泉镇温泉路 86
号
P 50 0 0 n/a
partnership
terminatedBeijing Wenquan
Road Data Center
No.86, Wenquan Road, Haidian
District, Beijing
20
北京联通石景山鲁
谷数据中心20
北京市石景山吴家村路三倾地
甲一号
P 3000 0 0 n/a
partnership
terminatedBeijing Shijingshan
Data Center
No. A1, Wujiacun Road,
Shijingshan Disctrict, Beijing
13
http://www.pengpan.cn/index.php/archives/185
14
http://dh.idcquan.com/jifang/5616.shtml
15
http://dh.idcquan.com/jifang/13115.shtml
16
http://dh.idcquan.com/jifang/5618.shtml and http://www.pengpan.cn/index.php/archives/227
17
http://dh.idcquan.com/jifang/7439.shtml
18
http://dh.idcquan.com/jifang/7434.shtml
19
http://www.chinahr.com/company/20-966094.html
20
http://www.pengpan.cn/index.php/archives/544
A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014
PAGE 5 / 19
No Data Centers Address P/S
Total
Cabinets
No. of
cabinets
managed
No. of
cabinets
sold
Utilization
rate
Notes
21
天津联通塘沽滨海
数据中心21
天津经济技术开发区新城东路
与盛达街交口联通大厦 8 楼
P 1343 200 150 75.0%
Tianjin Tanggu Data
Center
Floor 8, China Unicom Building,
Tianjin Economic Development
Zone, Tianjin
22
天津华苑数据中心22 天津市南开区华苑产业园区梓
苑路 6 号 A 座 2 层
P 807 200 170 85.0%
Tianjin Huayuan Data
Center
Floor 2, Building A, No.6 Ziyuan
Road, Huayuan Industrial Zone,
Nankai District, Tianjin
23
天津华苑二期数据
中心23
天津市南开区华苑产业园区梓
苑路 6 号 A 座 2 层
P 800 100 50 50.0%
Tianjin Huayuan
Phase II Data Center
Floor 2, Building A, No.6 Ziyuan
Road, Huayuan Industrial Zone,
Tianjin
24
河北省廊坊联通数
据中心24
河北省廊坊市和平路 182 号联
通大厦 10 楼
P 234 100 20 20.0%
Hebei Langfang
Unicom Data Center
Floor 10, China Unicom
Building, No.182 Heping Road,
Langfang, Hebei Province
25
河北省保定联通数
据中心25
河北省保定市东风西路 16 号通
信大厦 11 层
P 170 50 20 40.0%
Hebei Baoding
Unicom Data Center
Floor 11, Telecom Building,
No.16 Dongfeng Road West,
Baoding, Hebei Province
26
河北省邯郸联通数
据中心26 河北省邯郸市光明北大街 42 号
P 50 0 0 n/a
partnership
terminatedHebei Handan
Unicom Data Center
No.42, Guangming Street North,
Handan, Hebei Province
27
河南省郑州联通数
据中心27
河南省郑州市北环路联通第二
长途枢纽大楼 7 层
P 500 50 20 40.0%
Henan Zhengzhou
Unicom Data Center
Floor 7, China Unicom No.2
Long distance Hub Building,
Beihuan Road, Zhengzhou,
Henan Province
21
http://dh.idcquan.com/jifang/6969.shtml
22
http://dh.idcquan.com/jifang/13112.shtml
23
http://www.pengpan.cn/index.php/archives/298
24
http://dh.idcquan.com/jifang/6828.shtml and http://www.pengpan.cn/index.php/archives/626
25
http://blog.tianya.cn/blogger/post_read.asp?BlogID=2962600&PostID=44250314 and http://www.pengpan.cn/index.php/archives/635
26
http://dh.idcquan.com/idc/netcom/737150.html
27
http://www.pengpan.cn/index.php/archives/629 and http://dh.idcquan.com/jifang/7440.shtml
A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014
PAGE 6 / 19
No Data Centers Address P/S
Total
Cabinets
No. of
cabinets
managed
No. of
cabinets
sold
Utilization
rate
Notes
28
河南省新乡联通数
据中心28
河南省新乡市平原路 319 号网
通大楼
P 170 0 0 n/a
partnership
terminatedHenan Xinxiang
Unicom Data Center
Uncom Building, No. 319
Pingyuan Road, Xinxiang, Henan
Province
29
辽宁省大连联通数
据中心29
辽宁省大连市甘井子区软件园
数码路北段 28 号网通国际大厦
P 384 50 30 60.0%
Liaoning Dalian
Unicom Data Center
Unicom International Building,
No.28 Shuma Road North,
Software Zone, Ganjingzi
District, Dalian, Liaoning
Province
30
山西省太原联通数
据中心30
山西省太原市新晋祠路联通枢
纽大楼
P 249 0 0 n/a
partnership
terminatedShanxi Taiyuan
Unicom Data Center
Unicom Hub Building Xinjinci
Road, Taiyuan, Shanxi Province
31
山西省长治联通数
据中心31 山西省长治市英雄中路 89 号
P 100 0 0 n/a
partnership
terminatedShanxi Changzhi
Data Center
No.89 Yingxiong Road Central,
Changzhi, Shanxi Province
32
黑龙江省绥化联通
数据中心32 黑龙江省绥化市人和街 84 号
P 100 0 0 n/a
partnership
terminatedHeilongjiang Suihua
Unicom Data Center
No.84, Renhe Street, Suihua,
Heilongjiang Province
33
黑龙江省哈尔滨联
通数据中心33
黑龙江省哈尔滨市湘江路 45 号
联通数据中心
P 400 0 0 n/a
partnership
terminatedHarbin Unicom Data
Center
Unicom Data Center, No.45
Xiangjiang Road, Haerbin,
Heilongjiang Province
34
辽宁省沈阳市联通
东山数据中心34
辽宁省沈阳市大东区东北大马
路
P 50 0 0 n/a
partnership
terminatedShenyang Dongshan
Data Center
Dongbei Road, Daqong District,
Shenyang, Liaoning Province
35
辽宁省沈阳市联通
塔湾数据中心35
辽宁省沈阳市皇姑区昆山西路 1
67-2 号
P 200 0 0 n/a
partnership
terminatedShanyang Tawan
Data Center
No.167-2, Kunshan Road West,
Huanggu District, Shenyang,
Liaoning Province
28
http://dh.idcquan.com/jifang/50063.shtml
29
http://dh.idcquan.com/jifang/7379.shtml
30
http://dh.idcquan.com/jifang/5197.shtml
31
http://blog.sina.com.cn/s/blog_5e1c1b110100efwu.html
32
www.hljshidc.com
33
http://dh.idcquan.com/jifang/4958.shtml
34
Not found
35
http://www.pengpan.cn/index.php/archives/283
A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014
PAGE 7 / 19
No Data Centers Address P/S
Total
Cabinets
No. of
cabinets
managed
No. of
cabinets
sold
Utilization
rate
Notes
36
吉林省吉林市联通
数据中心36 吉林省吉林市中兴街 1 号
P 50 0 0 n/a
partnership
terminatedJilin City Unicom
Data Center
No.1 Zhongxing Street, Jilin, Jilin
Province
37
吉林省长春市联通
二枢纽数据中心37
吉林省长春市硅谷大街 3057 号
联通二枢纽
P 250 0 0 n/a
partnership
terminatedChangchun 2nd Hub
Data Center
2nd hub China Unicom Building,
No.3057 Guibu Road,
Changchun, Jilin Province
38
辽宁省本溪市联通
数据中心38
辽宁省本溪市解放南 2 马路 18
号
P 50 0 0 n/a
partnership
terminatedLiaoning Benxi
Unicom Data Center
No.18, 2nd road Jiafang South,
Benxi, Liaoning Province
39
辽宁省丹东市联通
数据中心39
辽宁省丹东市振兴区六纬路 98
号
P 50 0 0 n/a
partnership
terminatedLiaoning Dandong
Unicom Data Center
No.98, Liuwei Road, Zhenxing
District, Dandong, Liaoning
Province
40
辽宁省铁岭市联通
数据中心40
辽宁省铁岭市银州区工人街 50
号
P 50 0 0 n/a
partnership
terminatedLiaoning Tieling
Unicom Data Center
No.50, Gongren Street, Yinzhou
District, Tieling, Liaoning
Province
41
辽宁省辽阳市联通
数据中心41
辽宁省辽阳市白塔区青年大街 5
1 号
P 50 0 0 n/a
partnership
terminatedLiaoning Liaoyang
Unicom Data Center
No.51, Qingnian Street, Baita
District, Liaoyang, Liaoning
Province
42
辽宁省抚顺联通数
据中心42
辽宁省抚顺市新抚区中央大街 1
8 号
P 50 0 0 n/a
partnership
terminatedLiaoning Fushun
Unicom Data Center
No.18, Zhongyang Street, Xinfu
District, Fushun, Liaoning
Province
43
山东省青岛市崂山
联通数据中心43
山东省青岛市崂山区株洲路 168
号
P 750 0 0 n/a
partnership
terminatedShandong Laoshan
Unicom Data Center
No.168, Zhuzhou Road, Laoshan
District, Qingdao, Shandong
36
Not found
37
http://dh.idcquan.com/jifang/7882.shtml
38
Not found
39
Not found
40
Not found
41
Not found
42
http://www.9tao.com/jfxx.asp?wid=497
43
http://dh.idcquan.com/jifang/47785.shtml
A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014
PAGE 8 / 19
No Data Centers Address P/S
Total
Cabinets
No. of
cabinets
managed
No. of
cabinets
sold
Utilization
rate
Notes
44
山东省潍坊市联通
数据中心44 山东省潍坊市东风东街 333 号
P 220 0 0 n/a
partnership
terminatedShandong Weifang
Unicom Data Center
No.333, Dongfeng Street East,
Weifang, Shandong Province
45
上海浦东软件园数
据中心45 上海市浦东新区博云路 2 号
P 138 10 10 100.0%Shanghai Pudong
Software Zone Data
Center
No.2, Boyun Road, Pudong New
Development Zone, Shanghai
46
上海联通江场机房46 上海市闸北区江场西路 199 号 2
楼
P 500 200 90 45.0%
ShangHai Jiangchang
Data Center
Floor 2, No.199, Jiangchang Road
West, Zhabei District, Shanghai
47
上海电信同普数据
中心47
上海市普陀区同普路 926 号 4
楼
P 357 50 30 60.0%
Shanghai Tongpu
Data Center
Building No.4, No.926 Tongpu
Road, Putuo District, Shanghai
48
浙江省湖州市凤凰
数据中心48
浙江省湖州市龙溪北路 338 号
湖州电信大楼 4 楼
P 225 225 50 22.2%
Huzhou Phoenix Data
Center
Floor 4, Huzhou Telecom
Building, No.338 LongXi Road
North, Huzhou, Zhejiang
Province
49
江苏省南通市长桥
数据中心49
江苏省南通市崇川区环城南路
南大街电信局南院 11 号 7F
P 200 20 10 50.0%
Nantong Changqiao
Data Center
Floor 7, No.11 Telecom Station
Yard South, Roundcity Road
South, Chongchuan District,
Nantong, Jiangsu Province
50
江苏省南京市泰山
新村数据中心50
江苏省南京市浦口区大桥北路 7
7 号电信大楼 4 楼
P 1700 250 100 40.0%
Taishan New Garden
Data Center
Floor 4, Telecom Building, No.77
Daqiao Road North, Pukou
District, Nanjing, Jiangsu
Province
51
浙江省富阳市金桥
北路数据中心51
浙江省富阳市金桥北路 69 号电
信大楼 4 楼
P 55 5 5 100.0%
Fuyang Golden
Bridge Data Center
Floor 4, China Telecom Building,
No.69 Golden Bridge Road
North, Fuyang, Zhejiang Province
44
http://www.idcji.com/DataCenter/Weifang.asp
45
http://www.pengpan.cn/index.php/archives/610
46
http://www.pengpan.cn/index.php/archives/412
47
http://www.pengpan.cn/index.php/archives/617
48
http://www.pengpan.cn/index.php/archives/253
49
http://www.cncnc.com.cn/newweb/dianxin/jsnt.html
50
http://www.467.cn/hosting4.html
51
http://www.pengpan.cn/index.php/archives/160
A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014
PAGE 9 / 19
No Data Centers Address P/S
Total
Cabinets
No. of
cabinets
managed
No. of
cabinets
sold
Utilization
rate
Notes
52
江苏省扬州市运河
西路数据中心52 江苏省扬州市运河西路 237 号
P 462 0 0 n/a
partnership
terminatedJiangsu Yangzhou
Data Center
No.237, Yunhe Road West,
Yangzhou, Jiangsu Province
53
山东省青岛市联通
数据中心53
山东省青岛市辽阳东路 15 号联
通第二枢纽大楼
P 963 0 0 n/a
partnership
terminatedShandong Qingdao
Unicom Data Center
2nd hub China Unicom Building,
No.15 Liaoyang Road East,
Qingdao, Shandong Province
54
山东省济南市担山
屯数据中心54 山东省济南市经十西路
P 458 0 0 n/a
partnership
terminatedShandong Jinan
Danshantun Data
Center
Jingshixi Road, Jinan, Shandong
Province
55
山东省济南市济阳
数据中心55
山东省济南市济阳县经济技术
开发区济北云计算中心
P 300 0 0 n/a
partnership
terminatedShandong Jiyang
Data Center
Economic development zone,
Jiyang County, Jinan, Shandong
Province
56
广东省广州亚太信
息引擎数据中心56
广东省广州市高普路高唐国家
软件园电信"亚太信息引擎"IDC
中心 P 1877 200 130 65.0%
Guangzhou Asia Info
Data Center
Telecom Asia Info IDC center,
Gaopu Road, Guangzhou,
Guangdong Province
57
广东省肇庆黄塘数
据中心57
广东省肇庆市芙蓉西街黄塘电
信大楼 6 楼
P 188 20 10 50.0%
Zhaoqing Huangtang
Data Center
Floor 6, Telecom building,
Furong Street West, Zhaoqing,
Guangdong Province
58
深圳市花园城电信
数据中心58
深圳市南山区蛇口南海大道 107
9 号花园城数码大厦 B 座一楼
P 546 100 60 60.0%
Shenzhen Garden
City Data Center
Floor 1, Building B, Garden City
Digital Building, No.1079 Nanhai
Broadway, Shekou, Shenzhen
52
http://www.pengpan.cn/index.php/archives/363
53
http://dh.idcquan.com/jifang/5455.shtml
54
http://dh.idcquan.com/jifang/6968.shtml
55
http://dh.idcquan.com/jifang/33563.shtml
56
http://www.pengpan.cn/index.php/archives/592 and http://wenku.baidu.com/link?url=YKncm3jCUjd7P5hKfG7USfffY4-jnSNQgLS6-
cCgTXfbnADF-AF5dmwDAjR8TPw02V3enqz5rfwLl5Jgq3OQdTc01L3pxopyInImIUgp5Xy
57
http://www.cobte.com/idc/show.php?lang=cn&id=100
58
http://www.abcde.cn/China_huayuancheng_fuwuqi.htm
A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014
PAGE 10 / 19
No Data Centers Address P/S
Total
Cabinets
No. of
cabinets
managed
No. of
cabinets
sold
Utilization
rate
Notes
59
湖北省黄石花湖数
据中心59
湖北省黄石市黄石港区洋浦路
花湖电信大楼 4 楼
P 100 100 20 20.0%
Huangshi FlowerLake
Data Center
Floor 4, FlowerLake Telecom
Building, Yangpu Road,
Huangshigang District, Huangshi,
Hubei Province
60
湖北省武汉常青电
信数据中心60
湖北省武汉市江汉区学府南路 6
2 号武汉电信数据中心 5 楼
P 600 50 20 40.0%
Wuhan Changqing
Data Center
Floor 5, Wuhan Telecom Data
Center, No.62 Xuefu Road South,
Hanjiang District, Huhan, Hubei
Province
61
深圳福永数据中心61
深圳市宝安区福永镇和平村德
金工业园中国电信福永数据中
心
P 3044 300 200 66.7%
Shenzhen Fuyong
Data Center
Fuyong China Telecom Data
Center, Dejin Industrial Zone,
Heping Valliage, Baoan District,
Shenzhen
62
广东省广州人民中
路数据中心62
广东省广州市荔湾区人民中路 2
46 号中国电信机楼 6 楼
P 399 80 80 100.0%Guangzhou Renmin
Road Central Data
Center
Floor 6, China Telecom Data
Center, No.246, Renmin Road
Central, Liwan District,
Guangzhou, Guangdong Province
63
湖南省长沙麓谷数
据中心63
湖南省长沙市桐梓坡西路 189
号电信数据中心 3 楼
P 170 170 20 11.8%
Changsha LuValley
Data Center
Floor 3, China Telecom Data
Center Building, No.189
Tongzipo Road West, Changsha,
Hunan Province
64
中国移动南方基地
数据中心64
广东省广州市天河软件园高塘
新区高唐路 333 号
P 1088 0 0 n/a
partnership
terminatedChina Mobile South
Base Data Center
No.333, Gaotang Road, Gaotang
New Zone, Galaxy Software
Zone, Guangzhou, Guangdong
Province
59
http://www.pengpan.cn/index.php/archives/601
60
http://www.pengpan.cn/index.php/archives/607 and http://dh.idcquan.com/jifang/diy/60031.shtml
61
http://www.pengpan.cn/index.php/archives/595 and http://gd.189.cn/biz/introd/idc/cgjf/sz/2011/10/19/10110.htm
62
http://gd.189.cn/biz/introd/idc/cgjf/gz/2011/10/19/10103.htm
63
http://www.pengpan.cn/index.php/archives/604
64
http://dh.idcquan.com/jifang/50643.shtml
A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014
PAGE 11 / 19
No Data Centers Address P/S
Total
Cabinets
No. of
cabinets
managed
No. of
cabinets
sold
Utilization
rate
Notes
65
福建省厦门软件园
数据中心65
福建省厦门市软件园二期望海
路 83 号
P 600 0 0 n/a
partnership
terminatedFujian Xiamen
Software Zone Data
Center
No.83, Wanghai Road, Software
Zone, Xiamen, Fujian Province
66
江西省景德镇市电
信数据中心66 江西省景德镇市珠山西路 3 号
P 50 0 0 n/a
partnership
terminatedJiangxi Jingdezhen
Telecom Data Center
No.3, Zhushan Road West,
Jingdezhen, Jiangxi Province
67
福建省福州市马尾
电信数据中心67
福建省福州市马尾区罗星塔路
马尾 IDC 大楼
P 600 0 0 n/a
partnership
terminatedFujian Fuzhou Mawei
Data Center
IDC building, Luoxingta Road,
Mawei District, Fuzhou, Fujian
Province
68
福建省泉州市院前
数据中心68
福建省泉州市丰泽区云鹿路电
信大厦 5 楼 IDC 中心
P 180 0 0 n/a
partnership
terminatedFujian Quanzhou
Data Center
Floor 5, Telecom Building Yunlu
Road, Fengze District, Quanzhou,
Fujian Province
69
重庆市五里店数据
中心69
重庆市江北区海尔路 2 号电信
大楼 5 楼
P 500 20 10 50.0%
Chongqing Wulidian
Data Center
Floor 5, China Telecom Building,
No.2, Haier Road, Jiangbei
District, Chongqing
70
重庆市回兴数据中
心70 重庆市渝北区回兴电信大楼
P 400 0 0 n/a
partnership
terminatedChongqing huixing
Data Center
Telecom Building, Huixing,
Yubei District, Chongqing
71
四川省眉山市眉山新区
数据中心
71
四川省眉山市新区 819 汇接局电信
大楼
P 50 0 0 n/a
partnership
terminatedSichuan Meishan Data
Center
Telecom building, Meishan New
District, Meishan, Sichuan Province
72
陕西省宝鸡市电信
数据中心72
陕西省宝鸡市金台大道 15 号电
信大厦四楼
P 180 0 0 n/a
partnership
terminatedShanxi Baoji Data
Center
Floor 4, Telecom Building No15,
Jintai Street, Baoji, Shanxi Province
Total partnered cabinets 34024 3950 2560 64.8%
Total cabinets 44558 14484 9090 62.8%
65
http://dh.idcquan.com/jifang/47467.shtml
66
http://dh.idcquan.com/jifang/7583.shtml
67
http://www.jifang360.com/idc/datacenter/dx/2011725174512/
68
http://www.pengpan.cn/index.php/archives/648
69
http://www.pengpan.cn/index.php/archives/655
70
http://www.pengpan.cn/index.php/archives/662
71
http://www.hubeidc.com/server/sc_meishanct.php
72
http://www.docin.com/p-788261350.html
A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014
PAGE 12 / 19
APPENDIX B: Capital Restructuring of Beijing iJoy Before Acquistion
Exhibit 1 Articles of Association of Beijing iJoy
The first page of Articles of Association of Beijing iJoy shows three shareholders contributed the
2nd tranche of registered capital in total amount of RMB 3 million on April 21, 2011. So, the
total capital injection increased to RMB 5 million.
Exhibit 2 Audit report on cash injection of registered capital in RMB 3 million
Exhibit 3 Chart of amount of registered capital received by the company
After this RMB 3 million capital contribution, there was no any further cash contribution into the
company before acquisition. Peng Yang, Hu Yiwen and Shu Huaying contributed RMB 1.75,
RMB1.625 and RMB 1.625 mln respectively.
A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014
PAGE 13 / 19
Exhibit 4 Audit report on decrease of registered capital from RMB 10m to RMB 5m
On November 22, 2011. The three funders of iJoy decided to reduce capital registration from
RMB 10 mln to RMB 5 mln.
Exhibit 5-6 Shareholder Resolution for 1st General Meeting in 2012
A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014
PAGE 14 / 19
The shareholder resolution approved the 1st share transfer from Peng Shuhua and Hu Yiwen to
Peng Yang on March 7, 2012 Hu Yiwen and Shu Huaying sold their 9.75% shares each to Peng
Yang.
Exhibit 7-8 Shareholder Resolution for 2nd General Meeting in 2012.
The shareholder Resolution approved the 2dn share transfer from Peng Shuhua and Hu Yiwen to
Peng Yang on May 14, 2012 Hu Yiwen and Shu Huaying Sold another 13.25% shares each to
Peng Yang each.
A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014
PAGE 15 / 19
Exhibit 9 The 3rd Share Transfer Agreement among three shareholders.
The share Transfer Agreement approved the 3rd share transfer from Peng Shuhua and Hu Yiwen
to Peng Yang on July 13, 2012 , Peng Shuhua and Hu Yiwen sold the remaining 9.5% shares to
Peng Yang. After this transaction, Peng Yang holds 100% stakes in Beijing iJoy.
A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014
PAGE 16 / 19
Exhibit 10-11 Articles of Association of Beijing iJoy.
The first page of Articles of Association of Beijing iJoy shows the registered capital was
increased to RMB 10.08m by Peng Yang in intellectual property on March 14, 2013, just before
VNET acquired them.
A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014
PAGE 17 / 19
APPENDIX C: Excerpts from SAIC Filings
Inconsistent Registered Business Scope and Licensing
BKHT and XYHT are examples, with bizarre entries such as technology development, information
consulting, cultural exchange, conference service, advertising and logo design.
Translation of Enterprise Registration Form for XYHT.
The registered capital is RMB 30,000. The business scope includes technology development,
information consulting, cultural exchange, conference service, advertising and logo design.
Translation of SAIC filing by BKHT. The legal representative was changed to Wang Jingbo, a
relative person of Cheng Ran. The business scope includes the sale of machines, construction
materials, instruments, car accessories, stationary, light, computers, plastic and rubber material.
Cheng Ran Missing from Registrations. All seven MNS Entities are registered under Cheng’s wife,
sister or friend.
XYHT and ZBXT are good examples.
XYHT
A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014
PAGE 18 / 19
Translation of Shareholder meeting
held by XTHT on May 16, 2010
before acquisition.
The shareholders were changed to
Cheng Bin (the sister of Cheng
Ran) and ZBXT (another company
controlled by Cheng Ran). The
registered capital was RMB 30,000.
A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014
PAGE 19 / 19
Translation of Enterprise
Application Form on Changes of
Registered Items.
The shareholders of ZBXT were
Gao Hong (Ex-wife of Cheng Ran)
and Ying Wenxin (Husband of
Cheng Bin, the sister of Cheng
Ran). The equity of ZBXT was
transferred to Beijing
Shidaitonglian Technology Co.,
Ltd. before acquisition.
Scanned by CamScanner
Gao Hong: Cheng Ran's Ex Wife
APPENDIX C: Excerpts from SAIC filings (CONTINUED)
1
Scanned by CamScanner
Employee number:8
Zhibo Xintong (ZBXT)
2
Scanned by CamScanner
3
Scanned by CamScanner
Business Scope: sell machinery, building materials, automobile accessories, Lighting,computer/accessories
Beijing BKHT Network
4
Scanned by CamScanner
BKHT shareholder meeting: 1 person
5
Scanned by CamScanner
6
BKHT quickly transfered the ownership to ZBXT before 21ViaNet acquired the
company
Scanned by CamScanner
Beijing BKHT Network
7
Scanned by CamScanner
Business scope changes:
the new business scope includes: technology development,conference service,
culture exchange, labor service, advertising
8
Scanned by CamScanner
The agreement to change the business scope at Feb 1st of 2012
9
Scanned by CamScanner
SAIC filing of BKHT address changes in 2013
10
Scanned by CamScanner
We found the new address is a ghost office, refer to our office photos in MNS acquistion appendix
11
Scanned by CamScanner
12
Scanned by CamScanner
Three years later after acquired by 21 ViaNet, the registration capital got raised in 2014.
BKHT also added telecom value-added service in their business scope in 2014, 3 years after acquired by 21ViaN
13
Scanned by CamScanner
only one employee
14
BKHT SAIC financial filings 2008
Scanned by CamScanner
15
Scanned by CamScanner
BKHT SAIC financial filing 2009:negative profits with 2 employees
Revenue
Profits
16
Scanned by CamScanner
BKHT SAIC financial filing 2010: suddenly turned profitable after acquired by 21ViaNet
Revenue
BKHT's Revenue grew 8 times suddenly after 21ViaNet acquired BKHT in 2010
Profits
17
Scanned by CamScanner
Employee number dropped from 25 to 17, while revenue grew 40% YoY in 2011
AND profits grew 9 times YoY in 2012.
18
Scanned by CamScanner
In 2013, the SAIC registration shows that the business scope of BKHT is still "technology development,
information consulting,conference service,culture exchang, advertisting
BKHT
19
Scanned by CamScanner
BKHT SAIC financial filing 2012: BKHT revenue grew over 2 times and profits grew 5 times YoY.
BUT employee number dropped further from 17 to 14 in 2012.
20
Scanned by CamScanner
BKHT shareholder meeting: only 1 people attended.
21
Scanned by CamScanner
the similar suspicious share transfering before acquired by 21ViaNet.
Cheng Bin: Cheng Ran's sister
22
Scanned by CamScanner
ZBXT and Cheng Bin only invested RMB 30,000 into BKHT.
23
Scanned by CamScanner
XYHT was established just 3 Months before acquired by 21Vianet.
Cheng Bin and his brother, Cheng Ran owned ZBXT,invested RMB 30,000 to
establish XYHT as a shell company
24
Scanned by CamScanner
25
Scanned by CamScanner
26
XYHT's investment was raised to RMB 100,000 from 30,000, just 2 months before
acquired by 21ViaNet
Scanned by CamScanner
27
XYHT's investment was raised to RMB 100,000 from 30,000, just 2 months befor
acquired by 21Vianet
Scanned by CamScanner
2 months before acquisition by 21 Vianet, Cheng Bin transferred all her shares in XYHT to his
brother's company, ZBXT.
28
Scanned by CamScanner
Confirmation that ZBXT invested RMB 100,000 in XYHT and owned 100% of XYHT.
29
Scanned by CamScanner
30
Scanned by CamScanner
31
Scanned by CamScanner
XYHT was established with the same business scope with BKHT
Business Scope:Technology Development, Information Consulting,Culture Exchange,
Advertising, logo design, conference service, and exhibition.
Employee number: 6
32
Scanned by CamScanner
33
XYHT added telecom value-added service in their business scope 4 years after
acquired by 21ViaNet.
Scanned by CamScanner
34
Scanned by CamScanner
XYHT SAIC financial file 2008: Revenue 2.3 mln with 130,000 net profits.3 employees.
35
Scanned by CamScanner
36
XYHT SAIC financial filing 2009: RMB 5.6 mln revenue with RMB 2094 net
profits. 3 employees
Scanned by CamScanner
37
XYHT's revenue grew 40% YoY and net profits grew 160 times YoY in 2010 after
acquired by 21Vianet
Scanned by CamScanner
38
Scanned by CamScanner
Busiess scope in 2012:Technology Development,information Consulting
culture exchange, advertising, logo design, conference service, exhibition.
39
Scanned by CamScanner
40
Scanned by CamScanner
board meeting still one person attended
41
Scanned by CamScanner
Fujian YJHT
Address is a residential building and no one lives there.
Business scope:Telecom equipment sales, procurement service
Telecom technology service and consulting.
42
Scanned by CamScanner
Yilong Xinda: license of internet information service and website:www.yloog.net, or Kuaihuo Wang
43
Scanned by CamScanner
Yilong Xinda changed its business scope in 2010.
The new business scope: internet service, Technology promotion,
culture exchange, conference service, logo design,consumer electronics retail.
44
Scanned by CamScanner
45
Scanned by CamScanner
Yilong Xinda deleted their internet information service from their business scope in November of 2010.
46
Scanned by CamScanner
47
Scanned by CamScanner
Gao Hong: Cheng Ran's Ex Wife
48
Chengyi Shidai was registered under the name, Gao Hong, Cheng Ran's ex wife.
Scanned by CamScanner
Cheng Bin, Cheng Ran's sister and Gao Hong, Cheng Ran's Ex wife were main investors of
Chengyi Shidai (CYSD).
49
Scanned by CamScanner
50
Scanned by CamScanner
51
CYSD SAIC financial filing 2003: Revenue RMB 8.3 mln, Net profits: 960,000, 7
Employees
Scanned by CamScanner
CYSD SAIC financial filing 2007: Revenue RMB 14.2 mln, Net profits: RMB 71,100, 7 employees
52
Scanned by CamScanner
53
CYSD SAIC financial filing 2008: Revenue: RMB 49.5 mln, net profits RMB
810,000, 23 employees
Scanned by CamScanner
54
Scanned by CamScanner
55
CYSD SAIC financial filing 2009: Revenue 48.4 mln, net profits RMB 221,292
Scanned by CamScanner
56
SAIC filings CYSD SAIC financial filing 2010: Revenue 62.2 mln,
Net profits 131,942
Scanned by CamScanner
57
Scanned by CamScanner
CYSH SAIC financial filing 2011: Revenue RMB 82.9 mln, Net profits:RMB 9.88 mln, 15 employees
CYSH reported suspicious huge growth of revenue and net profits after acquired by 21ViaNet
even with employee number declined from 25 to 15 in 2011.
58

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Trinity 21Vianet Appendix

  • 1. A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014 PAGE 1 / 19 Note: This document is the Appendix section of Trinity Research Group’s report “A Ponzi Scheme of Acquisitions: 21 Vianet Group Exposed”. The report is available here: www.trinityresearchgroup.com http://seekingalpha.com/author/trinityresearch/articles
  • 2. A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014 PAGE 2 / 19 A. List of VNET’s 72 data centers As per VNET official website at http://www.ch.21vianet.com/?page_id=927 P is referred as partnered cabinets and S is referred as self-built cabinets No Data Centers Address P/S Total Cabinets No. of cabinets managed No. of cabinets sold Utilizatio n rate Notes 1 北京 B28 数据中心1 北京市朝阳区酒仙桥路 10 号恒 通商务园 B28B S 1400 1400 1350 96.4% including B28 phase IIIBeijing B28 Data Center Building B28B, Hetong Business Zone, No. 10, Jiuxianqiao Road, Chaoyang District, Beijing 2 北京 M5 数据中心2 北京市朝阳区酒仙桥东路 1 号 M5 楼二层 S 700 700 670 95.7% Beijing M5 Data Center Floor 2, Building M5, No.1, Jiuxianqiao Road East, Chaoyang District, Beijing 3 北京 M6 数据中心3 北京市朝阳区酒仙桥东路 1 号 电子城 M6 楼 S 1682 1682 1200 71.3% Beijing M6 Data Center Building M6, No.1, Jiuxianqiao Road East, Chaoyang District, Beijing 4 北京大兴星光数据 中心4 北京市大兴区西红门北兴路东 段 2 号星光影视园 A-1 楼 S 1690 1690 400 23.7% Put into use on May 28, 2014. Phase I- 1500 cabinets Beijing Daxing Starlight Data Center Building A-1, Starlight Studio, No.2 Beixing Road East, Daxing District, Beijing 5 上海市北数据中心5 上海市闸北区江场三路 217 号 2 楼 S 351 351 300 85.5% Shanghai City North Telecom Data Center Floor 2, No.217 Jiangchang third Road, Zhabei District, Shanghai No Data Centers Address P/S Total Cabinets Utilizatio n rate Notes 1 http://www.pengpan.cn/index.php/archives/208 and http://www.fastweb.com.cn/a/news/industry/2013/0613/69.html 2 http://storage.it168.com/a2011/0318/1167/000001167851_all.shtml and http://datacenter.chinabyte.com/495/8747995.shtml 3 http://www.pengpan.cn/index.php/archives/583 4 http://it.chinabyte.com/274/12813274.shtml 5 http://www.pengpan.cn/index.php/archives/620
  • 3. A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014 PAGE 3 / 19 No. of cabinets managed No. of cabinets sold 6 上海纪蕴数据中心6 上海市宝山区纪蕰路 588 号 1 号楼 S 877 877 450 51.3% Shanghai Jiyun Data Center Floor 1, No.588, Jiyun Road, Baoshan District, Shanghai 7 山东省青岛经济技 术开发区数据中心7 山东省青岛市经济技术开发区 江山南路 458 号 S 129 129 110 85.3% phase IShandong Qingdao Economic Zone Data Center No.458, Jiangshan Road South, Economic Development Zone, Qingdao, Shandong Province 8 广东省佛山智慧城 市数据中心8 广东省佛山市禅城区智慧新城 智慧路世纪互联园区 1 号楼 S 1145 1145 200 17.5% Foshan Intelligent City Data Center Building #1, Zhihui Road, Chancheng District, Foshan, Guangdong Province 9 陕西省西安市经开 数据中心9 陕西省西安市经开区凤城 12 路 出口加工区内二期多层厂房 1 号 S 1200 1200 950 79.2% Shanxi Xian Economic Zone Data Center No.1 Export Zone, Fengcheng 10th Road, Xian Economic Zone, Shanxi Province 10 北京亦庄同济中路 数据中心10 北京经济技术开发区同济中路 1 5 号 S 900 900 700 77.8%Beijing Tongji Central Road Data Center No.15, Tongji Road Central, Beijing Economic Development Zone, Daxing District, Beijing 11 安徽省宿州市高新 区数据中心11 安徽省宿州市高新区拂晓大道 S 184 184 50 27.2% phase I Suzhou HiTech Zone Data Center 21viaNet Cloud computing zone, Foxiao Street, Hitech Zone, Suzhou, Anhui Province 12 浙江省宁波高新区 数据中心12 浙江省宁波市高新区创苑路 750 号 D 座 1 楼 S 276 276 150 54.3% Ningbo Hitech Zone Data Center Floor 1, Building D, No.750 Chuangyuan Road, Hitech District, Ningbo, Zhejiang Province Total self-built cabinets 10534 10534 6530 62.0% 6 http://www.pengpan.cn/index.php/archives/35 7 http://www.pengpan.cn/index.php/archives/272 8 http://www.pengpan.cn/index.php/archives/4 9 http://www.pengpan.cn/index.php/archives/632 and http://www.c114.net/news/102/a440125.html 10 http://www.pengpan.cn/index.php/archives/224 11 http://www.50cnnet.com/index.php?a=show&c=index&catid=146&id=46983&m=content 12 http://www.pengpan.cn/index.php/archives/398
  • 4. A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014 PAGE 4 / 19 No Data Centers Address P/S Total Cabinets No. of cabinets managed No. of cabinets sold Utilization rate Notes 13 北京移动酒仙桥数 据中心13 北京市朝阳区彩虹路 9 号 P 240 100 90 90.0%Beijing Mobile Jiuxianqiao Data Center No.9, Caihong Road, Chaoyang District, Beijing 14 北京兆维电信数据 中心14 北京市朝阳区酒仙桥路 14 号兆 维工业园区 D 区 1 号楼 P 4000 200 190 95.0% Beijing Telecom Zhaowei Data Center Building No.1, Zone D, Zhaowei Industrial Zone, No.14, Jiuxianqiao Road, Chaoyang District, Beijing 15 北京联通兆维数据 中心15 北京市朝阳区酒仙桥路 14 号兆 维工业园区 D 区 1 号楼 P 1199 100 95 95.0% Beijing Unicom Zhaowei Data Center Building No.1, Zone D, Zhaowei Industrial Zone, No.14, Jiuxianqiao Road, Chaoyang District, Beijing 16 北京联通亦庄联通 数据中心16 北京大兴区亦庄经济技术开发 区北环东路一号国际 IDC P 1870 200 190 95.0% Beijing Unicome Yizhuang Data Center No.1, Beihuan Road East, Yizhuang Economic Development Zone, Daxing District, Beijing 17 北京联通亦庄电话 局数据中心17 北京大兴区亦庄中和街 1 号联 通亦庄电话局 P 388 350 340 97.1%Beijing Unicom Yizhuang Telephone Station Data Center No.1, Zhonghe Street, Yizhuang, Daxing District, Beijing 18 北京联通南苑数据 中心18 北京市丰台区南苑东路 162 号 P 450 450 350 77.8% Beijing Unicom Nanyuan Data Center No. 162, Nanyuan Road East, Fengtai District, Beijing 19 北京海淀温泉路数 据中心19 北京市海淀区温泉镇温泉路 86 号 P 50 0 0 n/a partnership terminatedBeijing Wenquan Road Data Center No.86, Wenquan Road, Haidian District, Beijing 20 北京联通石景山鲁 谷数据中心20 北京市石景山吴家村路三倾地 甲一号 P 3000 0 0 n/a partnership terminatedBeijing Shijingshan Data Center No. A1, Wujiacun Road, Shijingshan Disctrict, Beijing 13 http://www.pengpan.cn/index.php/archives/185 14 http://dh.idcquan.com/jifang/5616.shtml 15 http://dh.idcquan.com/jifang/13115.shtml 16 http://dh.idcquan.com/jifang/5618.shtml and http://www.pengpan.cn/index.php/archives/227 17 http://dh.idcquan.com/jifang/7439.shtml 18 http://dh.idcquan.com/jifang/7434.shtml 19 http://www.chinahr.com/company/20-966094.html 20 http://www.pengpan.cn/index.php/archives/544
  • 5. A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014 PAGE 5 / 19 No Data Centers Address P/S Total Cabinets No. of cabinets managed No. of cabinets sold Utilization rate Notes 21 天津联通塘沽滨海 数据中心21 天津经济技术开发区新城东路 与盛达街交口联通大厦 8 楼 P 1343 200 150 75.0% Tianjin Tanggu Data Center Floor 8, China Unicom Building, Tianjin Economic Development Zone, Tianjin 22 天津华苑数据中心22 天津市南开区华苑产业园区梓 苑路 6 号 A 座 2 层 P 807 200 170 85.0% Tianjin Huayuan Data Center Floor 2, Building A, No.6 Ziyuan Road, Huayuan Industrial Zone, Nankai District, Tianjin 23 天津华苑二期数据 中心23 天津市南开区华苑产业园区梓 苑路 6 号 A 座 2 层 P 800 100 50 50.0% Tianjin Huayuan Phase II Data Center Floor 2, Building A, No.6 Ziyuan Road, Huayuan Industrial Zone, Tianjin 24 河北省廊坊联通数 据中心24 河北省廊坊市和平路 182 号联 通大厦 10 楼 P 234 100 20 20.0% Hebei Langfang Unicom Data Center Floor 10, China Unicom Building, No.182 Heping Road, Langfang, Hebei Province 25 河北省保定联通数 据中心25 河北省保定市东风西路 16 号通 信大厦 11 层 P 170 50 20 40.0% Hebei Baoding Unicom Data Center Floor 11, Telecom Building, No.16 Dongfeng Road West, Baoding, Hebei Province 26 河北省邯郸联通数 据中心26 河北省邯郸市光明北大街 42 号 P 50 0 0 n/a partnership terminatedHebei Handan Unicom Data Center No.42, Guangming Street North, Handan, Hebei Province 27 河南省郑州联通数 据中心27 河南省郑州市北环路联通第二 长途枢纽大楼 7 层 P 500 50 20 40.0% Henan Zhengzhou Unicom Data Center Floor 7, China Unicom No.2 Long distance Hub Building, Beihuan Road, Zhengzhou, Henan Province 21 http://dh.idcquan.com/jifang/6969.shtml 22 http://dh.idcquan.com/jifang/13112.shtml 23 http://www.pengpan.cn/index.php/archives/298 24 http://dh.idcquan.com/jifang/6828.shtml and http://www.pengpan.cn/index.php/archives/626 25 http://blog.tianya.cn/blogger/post_read.asp?BlogID=2962600&PostID=44250314 and http://www.pengpan.cn/index.php/archives/635 26 http://dh.idcquan.com/idc/netcom/737150.html 27 http://www.pengpan.cn/index.php/archives/629 and http://dh.idcquan.com/jifang/7440.shtml
  • 6. A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014 PAGE 6 / 19 No Data Centers Address P/S Total Cabinets No. of cabinets managed No. of cabinets sold Utilization rate Notes 28 河南省新乡联通数 据中心28 河南省新乡市平原路 319 号网 通大楼 P 170 0 0 n/a partnership terminatedHenan Xinxiang Unicom Data Center Uncom Building, No. 319 Pingyuan Road, Xinxiang, Henan Province 29 辽宁省大连联通数 据中心29 辽宁省大连市甘井子区软件园 数码路北段 28 号网通国际大厦 P 384 50 30 60.0% Liaoning Dalian Unicom Data Center Unicom International Building, No.28 Shuma Road North, Software Zone, Ganjingzi District, Dalian, Liaoning Province 30 山西省太原联通数 据中心30 山西省太原市新晋祠路联通枢 纽大楼 P 249 0 0 n/a partnership terminatedShanxi Taiyuan Unicom Data Center Unicom Hub Building Xinjinci Road, Taiyuan, Shanxi Province 31 山西省长治联通数 据中心31 山西省长治市英雄中路 89 号 P 100 0 0 n/a partnership terminatedShanxi Changzhi Data Center No.89 Yingxiong Road Central, Changzhi, Shanxi Province 32 黑龙江省绥化联通 数据中心32 黑龙江省绥化市人和街 84 号 P 100 0 0 n/a partnership terminatedHeilongjiang Suihua Unicom Data Center No.84, Renhe Street, Suihua, Heilongjiang Province 33 黑龙江省哈尔滨联 通数据中心33 黑龙江省哈尔滨市湘江路 45 号 联通数据中心 P 400 0 0 n/a partnership terminatedHarbin Unicom Data Center Unicom Data Center, No.45 Xiangjiang Road, Haerbin, Heilongjiang Province 34 辽宁省沈阳市联通 东山数据中心34 辽宁省沈阳市大东区东北大马 路 P 50 0 0 n/a partnership terminatedShenyang Dongshan Data Center Dongbei Road, Daqong District, Shenyang, Liaoning Province 35 辽宁省沈阳市联通 塔湾数据中心35 辽宁省沈阳市皇姑区昆山西路 1 67-2 号 P 200 0 0 n/a partnership terminatedShanyang Tawan Data Center No.167-2, Kunshan Road West, Huanggu District, Shenyang, Liaoning Province 28 http://dh.idcquan.com/jifang/50063.shtml 29 http://dh.idcquan.com/jifang/7379.shtml 30 http://dh.idcquan.com/jifang/5197.shtml 31 http://blog.sina.com.cn/s/blog_5e1c1b110100efwu.html 32 www.hljshidc.com 33 http://dh.idcquan.com/jifang/4958.shtml 34 Not found 35 http://www.pengpan.cn/index.php/archives/283
  • 7. A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014 PAGE 7 / 19 No Data Centers Address P/S Total Cabinets No. of cabinets managed No. of cabinets sold Utilization rate Notes 36 吉林省吉林市联通 数据中心36 吉林省吉林市中兴街 1 号 P 50 0 0 n/a partnership terminatedJilin City Unicom Data Center No.1 Zhongxing Street, Jilin, Jilin Province 37 吉林省长春市联通 二枢纽数据中心37 吉林省长春市硅谷大街 3057 号 联通二枢纽 P 250 0 0 n/a partnership terminatedChangchun 2nd Hub Data Center 2nd hub China Unicom Building, No.3057 Guibu Road, Changchun, Jilin Province 38 辽宁省本溪市联通 数据中心38 辽宁省本溪市解放南 2 马路 18 号 P 50 0 0 n/a partnership terminatedLiaoning Benxi Unicom Data Center No.18, 2nd road Jiafang South, Benxi, Liaoning Province 39 辽宁省丹东市联通 数据中心39 辽宁省丹东市振兴区六纬路 98 号 P 50 0 0 n/a partnership terminatedLiaoning Dandong Unicom Data Center No.98, Liuwei Road, Zhenxing District, Dandong, Liaoning Province 40 辽宁省铁岭市联通 数据中心40 辽宁省铁岭市银州区工人街 50 号 P 50 0 0 n/a partnership terminatedLiaoning Tieling Unicom Data Center No.50, Gongren Street, Yinzhou District, Tieling, Liaoning Province 41 辽宁省辽阳市联通 数据中心41 辽宁省辽阳市白塔区青年大街 5 1 号 P 50 0 0 n/a partnership terminatedLiaoning Liaoyang Unicom Data Center No.51, Qingnian Street, Baita District, Liaoyang, Liaoning Province 42 辽宁省抚顺联通数 据中心42 辽宁省抚顺市新抚区中央大街 1 8 号 P 50 0 0 n/a partnership terminatedLiaoning Fushun Unicom Data Center No.18, Zhongyang Street, Xinfu District, Fushun, Liaoning Province 43 山东省青岛市崂山 联通数据中心43 山东省青岛市崂山区株洲路 168 号 P 750 0 0 n/a partnership terminatedShandong Laoshan Unicom Data Center No.168, Zhuzhou Road, Laoshan District, Qingdao, Shandong 36 Not found 37 http://dh.idcquan.com/jifang/7882.shtml 38 Not found 39 Not found 40 Not found 41 Not found 42 http://www.9tao.com/jfxx.asp?wid=497 43 http://dh.idcquan.com/jifang/47785.shtml
  • 8. A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014 PAGE 8 / 19 No Data Centers Address P/S Total Cabinets No. of cabinets managed No. of cabinets sold Utilization rate Notes 44 山东省潍坊市联通 数据中心44 山东省潍坊市东风东街 333 号 P 220 0 0 n/a partnership terminatedShandong Weifang Unicom Data Center No.333, Dongfeng Street East, Weifang, Shandong Province 45 上海浦东软件园数 据中心45 上海市浦东新区博云路 2 号 P 138 10 10 100.0%Shanghai Pudong Software Zone Data Center No.2, Boyun Road, Pudong New Development Zone, Shanghai 46 上海联通江场机房46 上海市闸北区江场西路 199 号 2 楼 P 500 200 90 45.0% ShangHai Jiangchang Data Center Floor 2, No.199, Jiangchang Road West, Zhabei District, Shanghai 47 上海电信同普数据 中心47 上海市普陀区同普路 926 号 4 楼 P 357 50 30 60.0% Shanghai Tongpu Data Center Building No.4, No.926 Tongpu Road, Putuo District, Shanghai 48 浙江省湖州市凤凰 数据中心48 浙江省湖州市龙溪北路 338 号 湖州电信大楼 4 楼 P 225 225 50 22.2% Huzhou Phoenix Data Center Floor 4, Huzhou Telecom Building, No.338 LongXi Road North, Huzhou, Zhejiang Province 49 江苏省南通市长桥 数据中心49 江苏省南通市崇川区环城南路 南大街电信局南院 11 号 7F P 200 20 10 50.0% Nantong Changqiao Data Center Floor 7, No.11 Telecom Station Yard South, Roundcity Road South, Chongchuan District, Nantong, Jiangsu Province 50 江苏省南京市泰山 新村数据中心50 江苏省南京市浦口区大桥北路 7 7 号电信大楼 4 楼 P 1700 250 100 40.0% Taishan New Garden Data Center Floor 4, Telecom Building, No.77 Daqiao Road North, Pukou District, Nanjing, Jiangsu Province 51 浙江省富阳市金桥 北路数据中心51 浙江省富阳市金桥北路 69 号电 信大楼 4 楼 P 55 5 5 100.0% Fuyang Golden Bridge Data Center Floor 4, China Telecom Building, No.69 Golden Bridge Road North, Fuyang, Zhejiang Province 44 http://www.idcji.com/DataCenter/Weifang.asp 45 http://www.pengpan.cn/index.php/archives/610 46 http://www.pengpan.cn/index.php/archives/412 47 http://www.pengpan.cn/index.php/archives/617 48 http://www.pengpan.cn/index.php/archives/253 49 http://www.cncnc.com.cn/newweb/dianxin/jsnt.html 50 http://www.467.cn/hosting4.html 51 http://www.pengpan.cn/index.php/archives/160
  • 9. A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014 PAGE 9 / 19 No Data Centers Address P/S Total Cabinets No. of cabinets managed No. of cabinets sold Utilization rate Notes 52 江苏省扬州市运河 西路数据中心52 江苏省扬州市运河西路 237 号 P 462 0 0 n/a partnership terminatedJiangsu Yangzhou Data Center No.237, Yunhe Road West, Yangzhou, Jiangsu Province 53 山东省青岛市联通 数据中心53 山东省青岛市辽阳东路 15 号联 通第二枢纽大楼 P 963 0 0 n/a partnership terminatedShandong Qingdao Unicom Data Center 2nd hub China Unicom Building, No.15 Liaoyang Road East, Qingdao, Shandong Province 54 山东省济南市担山 屯数据中心54 山东省济南市经十西路 P 458 0 0 n/a partnership terminatedShandong Jinan Danshantun Data Center Jingshixi Road, Jinan, Shandong Province 55 山东省济南市济阳 数据中心55 山东省济南市济阳县经济技术 开发区济北云计算中心 P 300 0 0 n/a partnership terminatedShandong Jiyang Data Center Economic development zone, Jiyang County, Jinan, Shandong Province 56 广东省广州亚太信 息引擎数据中心56 广东省广州市高普路高唐国家 软件园电信"亚太信息引擎"IDC 中心 P 1877 200 130 65.0% Guangzhou Asia Info Data Center Telecom Asia Info IDC center, Gaopu Road, Guangzhou, Guangdong Province 57 广东省肇庆黄塘数 据中心57 广东省肇庆市芙蓉西街黄塘电 信大楼 6 楼 P 188 20 10 50.0% Zhaoqing Huangtang Data Center Floor 6, Telecom building, Furong Street West, Zhaoqing, Guangdong Province 58 深圳市花园城电信 数据中心58 深圳市南山区蛇口南海大道 107 9 号花园城数码大厦 B 座一楼 P 546 100 60 60.0% Shenzhen Garden City Data Center Floor 1, Building B, Garden City Digital Building, No.1079 Nanhai Broadway, Shekou, Shenzhen 52 http://www.pengpan.cn/index.php/archives/363 53 http://dh.idcquan.com/jifang/5455.shtml 54 http://dh.idcquan.com/jifang/6968.shtml 55 http://dh.idcquan.com/jifang/33563.shtml 56 http://www.pengpan.cn/index.php/archives/592 and http://wenku.baidu.com/link?url=YKncm3jCUjd7P5hKfG7USfffY4-jnSNQgLS6- cCgTXfbnADF-AF5dmwDAjR8TPw02V3enqz5rfwLl5Jgq3OQdTc01L3pxopyInImIUgp5Xy 57 http://www.cobte.com/idc/show.php?lang=cn&id=100 58 http://www.abcde.cn/China_huayuancheng_fuwuqi.htm
  • 10. A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014 PAGE 10 / 19 No Data Centers Address P/S Total Cabinets No. of cabinets managed No. of cabinets sold Utilization rate Notes 59 湖北省黄石花湖数 据中心59 湖北省黄石市黄石港区洋浦路 花湖电信大楼 4 楼 P 100 100 20 20.0% Huangshi FlowerLake Data Center Floor 4, FlowerLake Telecom Building, Yangpu Road, Huangshigang District, Huangshi, Hubei Province 60 湖北省武汉常青电 信数据中心60 湖北省武汉市江汉区学府南路 6 2 号武汉电信数据中心 5 楼 P 600 50 20 40.0% Wuhan Changqing Data Center Floor 5, Wuhan Telecom Data Center, No.62 Xuefu Road South, Hanjiang District, Huhan, Hubei Province 61 深圳福永数据中心61 深圳市宝安区福永镇和平村德 金工业园中国电信福永数据中 心 P 3044 300 200 66.7% Shenzhen Fuyong Data Center Fuyong China Telecom Data Center, Dejin Industrial Zone, Heping Valliage, Baoan District, Shenzhen 62 广东省广州人民中 路数据中心62 广东省广州市荔湾区人民中路 2 46 号中国电信机楼 6 楼 P 399 80 80 100.0%Guangzhou Renmin Road Central Data Center Floor 6, China Telecom Data Center, No.246, Renmin Road Central, Liwan District, Guangzhou, Guangdong Province 63 湖南省长沙麓谷数 据中心63 湖南省长沙市桐梓坡西路 189 号电信数据中心 3 楼 P 170 170 20 11.8% Changsha LuValley Data Center Floor 3, China Telecom Data Center Building, No.189 Tongzipo Road West, Changsha, Hunan Province 64 中国移动南方基地 数据中心64 广东省广州市天河软件园高塘 新区高唐路 333 号 P 1088 0 0 n/a partnership terminatedChina Mobile South Base Data Center No.333, Gaotang Road, Gaotang New Zone, Galaxy Software Zone, Guangzhou, Guangdong Province 59 http://www.pengpan.cn/index.php/archives/601 60 http://www.pengpan.cn/index.php/archives/607 and http://dh.idcquan.com/jifang/diy/60031.shtml 61 http://www.pengpan.cn/index.php/archives/595 and http://gd.189.cn/biz/introd/idc/cgjf/sz/2011/10/19/10110.htm 62 http://gd.189.cn/biz/introd/idc/cgjf/gz/2011/10/19/10103.htm 63 http://www.pengpan.cn/index.php/archives/604 64 http://dh.idcquan.com/jifang/50643.shtml
  • 11. A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014 PAGE 11 / 19 No Data Centers Address P/S Total Cabinets No. of cabinets managed No. of cabinets sold Utilization rate Notes 65 福建省厦门软件园 数据中心65 福建省厦门市软件园二期望海 路 83 号 P 600 0 0 n/a partnership terminatedFujian Xiamen Software Zone Data Center No.83, Wanghai Road, Software Zone, Xiamen, Fujian Province 66 江西省景德镇市电 信数据中心66 江西省景德镇市珠山西路 3 号 P 50 0 0 n/a partnership terminatedJiangxi Jingdezhen Telecom Data Center No.3, Zhushan Road West, Jingdezhen, Jiangxi Province 67 福建省福州市马尾 电信数据中心67 福建省福州市马尾区罗星塔路 马尾 IDC 大楼 P 600 0 0 n/a partnership terminatedFujian Fuzhou Mawei Data Center IDC building, Luoxingta Road, Mawei District, Fuzhou, Fujian Province 68 福建省泉州市院前 数据中心68 福建省泉州市丰泽区云鹿路电 信大厦 5 楼 IDC 中心 P 180 0 0 n/a partnership terminatedFujian Quanzhou Data Center Floor 5, Telecom Building Yunlu Road, Fengze District, Quanzhou, Fujian Province 69 重庆市五里店数据 中心69 重庆市江北区海尔路 2 号电信 大楼 5 楼 P 500 20 10 50.0% Chongqing Wulidian Data Center Floor 5, China Telecom Building, No.2, Haier Road, Jiangbei District, Chongqing 70 重庆市回兴数据中 心70 重庆市渝北区回兴电信大楼 P 400 0 0 n/a partnership terminatedChongqing huixing Data Center Telecom Building, Huixing, Yubei District, Chongqing 71 四川省眉山市眉山新区 数据中心 71 四川省眉山市新区 819 汇接局电信 大楼 P 50 0 0 n/a partnership terminatedSichuan Meishan Data Center Telecom building, Meishan New District, Meishan, Sichuan Province 72 陕西省宝鸡市电信 数据中心72 陕西省宝鸡市金台大道 15 号电 信大厦四楼 P 180 0 0 n/a partnership terminatedShanxi Baoji Data Center Floor 4, Telecom Building No15, Jintai Street, Baoji, Shanxi Province Total partnered cabinets 34024 3950 2560 64.8% Total cabinets 44558 14484 9090 62.8% 65 http://dh.idcquan.com/jifang/47467.shtml 66 http://dh.idcquan.com/jifang/7583.shtml 67 http://www.jifang360.com/idc/datacenter/dx/2011725174512/ 68 http://www.pengpan.cn/index.php/archives/648 69 http://www.pengpan.cn/index.php/archives/655 70 http://www.pengpan.cn/index.php/archives/662 71 http://www.hubeidc.com/server/sc_meishanct.php 72 http://www.docin.com/p-788261350.html
  • 12. A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014 PAGE 12 / 19 APPENDIX B: Capital Restructuring of Beijing iJoy Before Acquistion Exhibit 1 Articles of Association of Beijing iJoy The first page of Articles of Association of Beijing iJoy shows three shareholders contributed the 2nd tranche of registered capital in total amount of RMB 3 million on April 21, 2011. So, the total capital injection increased to RMB 5 million. Exhibit 2 Audit report on cash injection of registered capital in RMB 3 million Exhibit 3 Chart of amount of registered capital received by the company After this RMB 3 million capital contribution, there was no any further cash contribution into the company before acquisition. Peng Yang, Hu Yiwen and Shu Huaying contributed RMB 1.75, RMB1.625 and RMB 1.625 mln respectively.
  • 13. A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014 PAGE 13 / 19 Exhibit 4 Audit report on decrease of registered capital from RMB 10m to RMB 5m On November 22, 2011. The three funders of iJoy decided to reduce capital registration from RMB 10 mln to RMB 5 mln. Exhibit 5-6 Shareholder Resolution for 1st General Meeting in 2012
  • 14. A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014 PAGE 14 / 19 The shareholder resolution approved the 1st share transfer from Peng Shuhua and Hu Yiwen to Peng Yang on March 7, 2012 Hu Yiwen and Shu Huaying sold their 9.75% shares each to Peng Yang. Exhibit 7-8 Shareholder Resolution for 2nd General Meeting in 2012. The shareholder Resolution approved the 2dn share transfer from Peng Shuhua and Hu Yiwen to Peng Yang on May 14, 2012 Hu Yiwen and Shu Huaying Sold another 13.25% shares each to Peng Yang each.
  • 15. A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014 PAGE 15 / 19 Exhibit 9 The 3rd Share Transfer Agreement among three shareholders. The share Transfer Agreement approved the 3rd share transfer from Peng Shuhua and Hu Yiwen to Peng Yang on July 13, 2012 , Peng Shuhua and Hu Yiwen sold the remaining 9.5% shares to Peng Yang. After this transaction, Peng Yang holds 100% stakes in Beijing iJoy.
  • 16. A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014 PAGE 16 / 19 Exhibit 10-11 Articles of Association of Beijing iJoy. The first page of Articles of Association of Beijing iJoy shows the registered capital was increased to RMB 10.08m by Peng Yang in intellectual property on March 14, 2013, just before VNET acquired them.
  • 17. A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014 PAGE 17 / 19 APPENDIX C: Excerpts from SAIC Filings Inconsistent Registered Business Scope and Licensing BKHT and XYHT are examples, with bizarre entries such as technology development, information consulting, cultural exchange, conference service, advertising and logo design. Translation of Enterprise Registration Form for XYHT. The registered capital is RMB 30,000. The business scope includes technology development, information consulting, cultural exchange, conference service, advertising and logo design. Translation of SAIC filing by BKHT. The legal representative was changed to Wang Jingbo, a relative person of Cheng Ran. The business scope includes the sale of machines, construction materials, instruments, car accessories, stationary, light, computers, plastic and rubber material. Cheng Ran Missing from Registrations. All seven MNS Entities are registered under Cheng’s wife, sister or friend. XYHT and ZBXT are good examples. XYHT
  • 18. A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014 PAGE 18 / 19 Translation of Shareholder meeting held by XTHT on May 16, 2010 before acquisition. The shareholders were changed to Cheng Bin (the sister of Cheng Ran) and ZBXT (another company controlled by Cheng Ran). The registered capital was RMB 30,000.
  • 19. A PONZI SCHEME OF ACQUISITIONS: 21 VIANET GROUP EXPOSED SEPTEMBER 10, 2014 PAGE 19 / 19 Translation of Enterprise Application Form on Changes of Registered Items. The shareholders of ZBXT were Gao Hong (Ex-wife of Cheng Ran) and Ying Wenxin (Husband of Cheng Bin, the sister of Cheng Ran). The equity of ZBXT was transferred to Beijing Shidaitonglian Technology Co., Ltd. before acquisition.
  • 20. Scanned by CamScanner Gao Hong: Cheng Ran's Ex Wife APPENDIX C: Excerpts from SAIC filings (CONTINUED) 1
  • 21. Scanned by CamScanner Employee number:8 Zhibo Xintong (ZBXT) 2
  • 23. Scanned by CamScanner Business Scope: sell machinery, building materials, automobile accessories, Lighting,computer/accessories Beijing BKHT Network 4
  • 24. Scanned by CamScanner BKHT shareholder meeting: 1 person 5
  • 25. Scanned by CamScanner 6 BKHT quickly transfered the ownership to ZBXT before 21ViaNet acquired the company
  • 27. Scanned by CamScanner Business scope changes: the new business scope includes: technology development,conference service, culture exchange, labor service, advertising 8
  • 28. Scanned by CamScanner The agreement to change the business scope at Feb 1st of 2012 9
  • 29. Scanned by CamScanner SAIC filing of BKHT address changes in 2013 10
  • 30. Scanned by CamScanner We found the new address is a ghost office, refer to our office photos in MNS acquistion appendix 11
  • 32. Scanned by CamScanner Three years later after acquired by 21 ViaNet, the registration capital got raised in 2014. BKHT also added telecom value-added service in their business scope in 2014, 3 years after acquired by 21ViaN 13
  • 33. Scanned by CamScanner only one employee 14 BKHT SAIC financial filings 2008
  • 35. Scanned by CamScanner BKHT SAIC financial filing 2009:negative profits with 2 employees Revenue Profits 16
  • 36. Scanned by CamScanner BKHT SAIC financial filing 2010: suddenly turned profitable after acquired by 21ViaNet Revenue BKHT's Revenue grew 8 times suddenly after 21ViaNet acquired BKHT in 2010 Profits 17
  • 37. Scanned by CamScanner Employee number dropped from 25 to 17, while revenue grew 40% YoY in 2011 AND profits grew 9 times YoY in 2012. 18
  • 38. Scanned by CamScanner In 2013, the SAIC registration shows that the business scope of BKHT is still "technology development, information consulting,conference service,culture exchang, advertisting BKHT 19
  • 39. Scanned by CamScanner BKHT SAIC financial filing 2012: BKHT revenue grew over 2 times and profits grew 5 times YoY. BUT employee number dropped further from 17 to 14 in 2012. 20
  • 40. Scanned by CamScanner BKHT shareholder meeting: only 1 people attended. 21
  • 41. Scanned by CamScanner the similar suspicious share transfering before acquired by 21ViaNet. Cheng Bin: Cheng Ran's sister 22
  • 42. Scanned by CamScanner ZBXT and Cheng Bin only invested RMB 30,000 into BKHT. 23
  • 43. Scanned by CamScanner XYHT was established just 3 Months before acquired by 21Vianet. Cheng Bin and his brother, Cheng Ran owned ZBXT,invested RMB 30,000 to establish XYHT as a shell company 24
  • 45. Scanned by CamScanner 26 XYHT's investment was raised to RMB 100,000 from 30,000, just 2 months before acquired by 21ViaNet
  • 46. Scanned by CamScanner 27 XYHT's investment was raised to RMB 100,000 from 30,000, just 2 months befor acquired by 21Vianet
  • 47. Scanned by CamScanner 2 months before acquisition by 21 Vianet, Cheng Bin transferred all her shares in XYHT to his brother's company, ZBXT. 28
  • 48. Scanned by CamScanner Confirmation that ZBXT invested RMB 100,000 in XYHT and owned 100% of XYHT. 29
  • 51. Scanned by CamScanner XYHT was established with the same business scope with BKHT Business Scope:Technology Development, Information Consulting,Culture Exchange, Advertising, logo design, conference service, and exhibition. Employee number: 6 32
  • 52. Scanned by CamScanner 33 XYHT added telecom value-added service in their business scope 4 years after acquired by 21ViaNet.
  • 54. Scanned by CamScanner XYHT SAIC financial file 2008: Revenue 2.3 mln with 130,000 net profits.3 employees. 35
  • 55. Scanned by CamScanner 36 XYHT SAIC financial filing 2009: RMB 5.6 mln revenue with RMB 2094 net profits. 3 employees
  • 56. Scanned by CamScanner 37 XYHT's revenue grew 40% YoY and net profits grew 160 times YoY in 2010 after acquired by 21Vianet
  • 58. Scanned by CamScanner Busiess scope in 2012:Technology Development,information Consulting culture exchange, advertising, logo design, conference service, exhibition. 39
  • 60. Scanned by CamScanner board meeting still one person attended 41
  • 61. Scanned by CamScanner Fujian YJHT Address is a residential building and no one lives there. Business scope:Telecom equipment sales, procurement service Telecom technology service and consulting. 42
  • 62. Scanned by CamScanner Yilong Xinda: license of internet information service and website:www.yloog.net, or Kuaihuo Wang 43
  • 63. Scanned by CamScanner Yilong Xinda changed its business scope in 2010. The new business scope: internet service, Technology promotion, culture exchange, conference service, logo design,consumer electronics retail. 44
  • 65. Scanned by CamScanner Yilong Xinda deleted their internet information service from their business scope in November of 2010. 46
  • 67. Scanned by CamScanner Gao Hong: Cheng Ran's Ex Wife 48 Chengyi Shidai was registered under the name, Gao Hong, Cheng Ran's ex wife.
  • 68. Scanned by CamScanner Cheng Bin, Cheng Ran's sister and Gao Hong, Cheng Ran's Ex wife were main investors of Chengyi Shidai (CYSD). 49
  • 70. Scanned by CamScanner 51 CYSD SAIC financial filing 2003: Revenue RMB 8.3 mln, Net profits: 960,000, 7 Employees
  • 71. Scanned by CamScanner CYSD SAIC financial filing 2007: Revenue RMB 14.2 mln, Net profits: RMB 71,100, 7 employees 52
  • 72. Scanned by CamScanner 53 CYSD SAIC financial filing 2008: Revenue: RMB 49.5 mln, net profits RMB 810,000, 23 employees
  • 74. Scanned by CamScanner 55 CYSD SAIC financial filing 2009: Revenue 48.4 mln, net profits RMB 221,292
  • 75. Scanned by CamScanner 56 SAIC filings CYSD SAIC financial filing 2010: Revenue 62.2 mln, Net profits 131,942
  • 77. Scanned by CamScanner CYSH SAIC financial filing 2011: Revenue RMB 82.9 mln, Net profits:RMB 9.88 mln, 15 employees CYSH reported suspicious huge growth of revenue and net profits after acquired by 21ViaNet even with employee number declined from 25 to 15 in 2011. 58