Chindata Group released its financial & operation report for the first quarter of 2022: total capacity exceeded 700MW, revenue increased by 43.1%, exceeding market expectations for 7 straight quarters

BEIJING, June 1, 2022 /PRNewswire/ -- Chindata Group (Nasdaq:CD), a leading carrier-neutral hyperscale data center solutions provider in Asia Pacific and its emerging markets, announced its unaudited financial & operation report for the first quarter as of March 31st, 2022. In the first quarter of 2022, Chindata Group recorded a revenue of RMB920 million, representing a year-on-year increase of 43.1%; Adjusted EBITDA was RMB490 million, representing a year-on-year increase of 60.7%; Net income reached RMB 90 million.

Strong momentum for business growth, total capacity of data center increased to 704MW.

Under sustained and favorable development trend of digital economy, Chindata Group maintained its growth of revenue and adjusted EBITDA, exceeding market expectations for 7 straight quarters. Taking numerous factors into consideration, including Group's long-term stable development, and confidence in the growth of market and clients, Chindata Group raised its 2022 full year guidance. Guidance range for both revenue and adjusted EBITDA increased  by RMB60 million, with revenue guidance turning to RMB4,130 million-4,230 million, and adjusted EBITDA guidance turning to RMB2,100 million-2,180 million.

By the end of the first quarter, the total number of Chindata Group's data center continued to expand at a high speed up to 28, covering Asia Pacific and its emerging markets. The total IT capacity reached 704MW and in-service capacity nearly reached 500MW.

While maintaining the continuous growth of existing clients, Chindata Group achieved initial results in clients diversification in the first quarter. The total contracted and IOI(Indication of Interest) capacity reached 619MW, and the client commitment went up to 88%, remained healthy.

Albeit the world wide COVID-19 situation, the Group still kept the delivery schedule of the majority of the projects unchanged. The total utilized capacity increased by 40MW to 344MW in the first quarter. Chindata Group leads the industry with its unique operation mode, superior site selection strategy and efficient project implementation.

Accelerated expansion in Malaysia and Thailand, upgraded the scale of Asia Pacific and its emerging markets

In Asia Pacific and its emerging markets, Chindata Group's hyperscale greenfield project in Johor, Malaysia has attracted much attention. The total design scale of Phase I and Phase II is 61MW. All the pre-fabricated modules of the self-developed container data center have been manufactured in China and successfully shipped to Johor, opening a new mode of data center modular construction for the first time in China. So far, Chindata Group has a capacity of nearly 100MW in Malaysia, which indicates an emergence of hyperscale computing industry ecological cluster in Southeast Asia.

At the same time, Chindata Group successfully completed the acquisition of Bangkok project in Thailand in the first quarter. Through technology upgrade, the project will be expanded to 5MW capacity to help the business development of key clients in Southeast Asia. By the end of the first quarter 2022, Chindata Group had a total capacity of 117 MW of data centers in service and under construction in APAC emerging market, further improved its position as a hyperscale data center provider overseas.

Mr. Wu Huapeng, the CEO of Chindata Group, said: "In the first quarter of 2022, Chindata Group's business maintained solid growth. The revenue and adjusted EBITDA exceed expectations for 7 straight quarters, and the total capacity of Chindata Group's data center exceeded 700MW. The stability of our business benefited from the trust and support of clients and the unity and struggle of the whole team. Our growth plan was been well executed. This year, Chindata Group made positive progress in the Southeast Asian market and in the layout of 'East Data West Computing' policy. We also continue to make efforts in clients diversification, business diversity and resource enrichment. It is believed that the Group will get greater breakthroughs and more opportunities in the area of new clients, new industries and new product technologies in the future."

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Source: Chindata Group Related Stocks: NASDAQ:CD
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