BEIJING, Sept. 6,
2022 /PRNewswire/ -- On August
25, 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 second quarter and half year
2022 ended June 30, 2022. Chindata
Group firmly grasped the development opportunities of the digital
economy and China's "East Data
West Computation" policy, and continued to maintain a strong growth
in the second quarter. Total IT capacity of the data center
increased to 776MW; revenue in the second quarter of 2022 increased
by 51.2% year over year ("YoY") to RMB
1,038.1 million; net income in the second quarter increased
by 206.3% YoY to RMB199.6 million,
with a margin of 19.2%. Adjusted EBITDA in the second quarter of
2022 increased by 60.8% YoY to RMB544.3
million, with a margin of 52.4%. The Company has been
delivering upbeat revenue and adjusted EBITDA results for eight
straight quarters.
For the first half of 2022, Chindata Group achieved total
revenue of 1,958.7 million, representing a year-on-year growth of
47.3 %. Adjusted EBITDA increased by 60.7% to RMB1,038.8 million; net income increased by
138.5% to RMB294.1 million.
Under the favorable guidance of the digital economy and the
national top-level strategy of "East Data West Computation",
Chindata Group's business continued to maintain solid growth . As
of the end of the second quarter, total capacity increased by 72MW
during the second quarter to reach 776MW. Two new
under-construction hyperscale projects in northern China with a total capacity of 73MW were added
to the asset portfolio, representing an increase of 34.3% compared
with 578MW in the same period in 2021.
Chindata Group focuses on the hyperscale data center model and
has achieved remarkable results in customer diversification. Total
contracted and Indication of Interest ("IOI") capacity reached
650MW in the second quarter, representing a 31.2% YoY increase.
Commitment ratio remained healthy for the Company's asset portfolio
and contracted & IOI ratio for total capacity was 84% by the
end of the second quarter of 2022.
Chindata Group is deeply engaged in the rapidly developing
Asia-Pacific market with huge
potential, and its hyperscale data center projects have performed
well in China and Southeast Asia.
Among the eight national computing power hub nodes of "East Data
West Computation " launched by Chinese government in February 2022, Chindata Group has deployed ahead
of schedule in four hubs of Beijing-Tianjin-Hebei
region, the Yangtze River Delta, the Guangdong-Hong Kong-Macao Greater Bay Area and
Gansu. As of the second quarter, Chindata Group has 30 data
centers in total, of which two new under-construction hyperscale
projects in northern China were
added in this quarter.
As of the second quarter, utilized capacity of 57MW was added,
and quarter-end utilized capacity reached 401MW, representing a
59.6% YoY growth. The newly-added capacity mainly came from
Chindata Group's northern China
and Malaysia campus to support the
rapid business development of leading technology clients in
China and abroad. In the second
quarter, Chindata's in-service capacity increased by 13MW to 511MW,
representing a 41.8% YoY growth.
Chindata Group is also constantly devoting itself to pursuing
growth with quality through constant innovation, research and
development. On July 29th, 2022,
Chindata and its technical partner, Vertiv Technology, jointly
released a waterless cooling technology. Coined "X-Cooling", the
solution enables data centers to achieve zero Water Use Efficiency
("WUE") cooling, which is setting a new benchmark for the industry.
By the end of the second quarter of 2022, the Company has a total
of 361 approved and pending patents, far ahead of the industry.
On June 24 this year, Chindata
Group officially closed a 500 million
USD syndicated loan financing. The facility, joined by 15
lenders, has a 3-year tenor with a 2-year extension option. On
July 25th, 2022, Fitch rating
reaffirmed the Company's Long-Term Foreign- and Local-Currency
Issuer Default Ratings (IDRs) and foreign-currency senior unsecured
rating at 'BBB-', with a stable outlook.
Mr. Wu Huapeng, CEO of Chindata Group, quoted: "Our business in
China and Southeast Asia continued its solid momentum in
the second quarter of 2022. Total capacity of the Company reached
776MW, which is a 72MW increase during the quarter and we have been
delivering upbeat revenue results for eight straight quarters. We
believe our early and ongoing layout in Asia Pacific emerging market and key regions
under the "East-Data-West-Computation" in China, along with our hyperscale model that
serves digital leaders and enterprise clients, constitutes the
solid fundamentals for such momentum.
The Company is also constantly devoting itself to pursuing
growth with quality through constant innovation and research and
development. As a demonstration of that, our approved and pending
patents by end of the second quarter was 361, representing an
increase of 51 compared with that in the first quarter of 2022.
Furthermore, the Company has successfully closed the
$500 million syndicated loan in late
June, and the reaffirmation of our investment grade credit rating
by notable rating agency recently has enabled the Company to
maintain its diversified financing options. Looking forward to the
future, Chindata Group has gained strong momentum in terms of
sustained high-speed growth."
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SOURCE Chindata Group
