BEIJING, Nov. 28,
2022 /PRNewswire/ -- On November 22, 2022, Chindata Group Holdings
Limited ("Chindata Group" or the "Company") (Nasdaq: CD), a leading
carrier-neutral hyperscale data center solution provider in
Asia-Pacific emerging markets,
announced its unaudited financial results for the third quarter
ended Septemper 30, 2022. With the increasing demand for digital
infrastructure globally, as well as the catalyst provided by the
"East Data West Computation" policy, the company continued its
solid business performance in the third quarter of 2022. Total IT
capacity of the data center by the end of the third quarter of 2022
increased to 821MW. The close collaboration between the team in
China and South East Asia led to a record
nine-straight-quarters of upbeat financial performance. Revenue was
RMB1,202.7 million in the third
quarter of 2022, which was a 62.4% year over year ("YoY") growth.
Adjusted EBITDA in the third quarter of 2022 increased by 66.8% YoY
to RMB614.5 million, with a margin of
51.1%. GAAP Net income was RMB241.0
million in the third quarter of 2022, which was a 207.4% YoY
growth, with a margin of 20.0% at new high. Revenue in the first
nine months of 2022 has surpassed that of the full year of 2021.
The company also raised its full year guidance for the second time
in the year, which currently expects the full year revenue to be in
the range of RMB4.33 billion to
RMB4.43 billion, representing an
increase of RMB200 million in
mid-point compared with the previous guidance.
By the end of the third quarter of 2022, Chindata Group has
added one new project with an additional 45MW new capacity,
bringing the total capacity to 821MW, and total number of data
centers to 31. The Company continued to serve its existing clients
and support their healthy growth as a trusted partner, and the
momentum on the overall demand from its unique client base remained
strong and healthy. Total contracted and "Indication of
Interest" (IOI) capacity increased by 50MW during the third quarter
of 2022 to reach 700MW, representing a 41.9% YoY growth.
The emerging market is one of the key areas of Chindata Group's
global layout. In the third quarter of 2022, a hyperscale data
center located in India was
successfully delivered to support the Company's key international
clients. On October 20, 2022, the
Company celebrated the grand opening of project MY06 in Sedenak,
Johor, Malaysia. The entire MY06
project holds a designed capacity of over 100MW, among which 19MW
was recently put into service in October. Excluding the delivery of
MY06-1, by the end of the third quarter of 2022, the Company had
40MW in-service capacity, and another 120MW under construction in
Asia-Pacific emerging markets, as
well as the Thailand project to be
further expanded.
Chindata Group believes that its early judgement in site
selection in the Greater Beijing Region and its differentiated way
of doing business and continuing to do the right thing in the
correct manner, are consistently generating healthy resources,
which further enable the Company to tap into different regions for
business opportunities and to establish a more diversified business
layout.
At present, Chindata Group has a layout in the Beijing-Tianjin-Hebei Region, the Yangtze
River Delta Area, the Greater Bay Area, and Gansu, which is highly consistent with the
national "East Data West Computation" policy, and becomes one of
the largest third-party hyperscale data center enterprises in eight
computing "hub nodes" in China. In
Asia-Pacific emerging markets,
Chindata Group has two hyperscale data centers in service and four
under construction in India and
Malaysia, as well as the
Thailand project to be further
expanded.
The company also maintained a healthy capital structure under
the current challenging market environment. Chindata Group's
prudent financing policy, healthy cash generation, asset return and
profitability have together made this possible. These combined
financial performance on both output and input sides resulted in an
unlevered pre-tax Return on Invested Capital (ROIC) at around 17%
level, which will provide a safe and long-term sustainable value to
the investors and creditors.
In the third quarter of 2022, Chindata Group continued to devote
to its innovation and research & development for better data
center solutions. The total approved and pending patents by the end
of the third quarter of 2022 reached 400, compared with 361 by the
end of the second quarter of 2022.
Regarding other effort on sustainability, the Company entered
into a green loan agreement in September with a bank on project
financing for its project in one of its Hebei campuses. The loan is aligned with Green
Loan Principles (2021 Edition), with all loan proceeds intended for
green building, renewable energy and energy efficiency related to
the project.
Mr. Huapeng Wu, Chief Executive Officer of Chindata Group,
commented, "The Company continued its solid business performance in
the third quarter of 2022. The close collaboration between our team
in China and South East Asia led to a record
nine-straight-quarters of upbeat financial performance. Revenue in
the first nine months of 2022 has surpassed the revenue in the full
year of 2021, and we are raising our full year guidance for the
second time this year. With the increasing demand for digital
infrastructure globally, as well as the catalyst provided by the
"East Data West Computation" policy, the Company sees its
advantages in hyperscale business to be even more apparent. We will
continue to do the right thing in the correct manner, to
consistently build our capability, to strengthen our research &
development, to enhance our competitive power and to operate our
business in a prudent manner, so as to create long-term value for
our clients, partners, investors and other stakeholders in a
sustainable way."
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SOURCE Chindata Group
