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Chindata reports 64% YoY growth with over 200MW of hyperscale power currently under construction

Beijing-based operator’s energy figures show a recorded total electricity consumption of 797 million kWh during the first half of 2021.

By João Marques Lima

Founder and Editor, The Tech Capital

3 Mins

August 27, 2021 | 12:00 AM BST

Hyperscale data centre operator Chindata Group (Nasdaq: CD) has posted a second-quarter revenue of RMB686 million (US$106 million), up 64% year over year, and a quarterly net profit of RMB65 million (US$10 million).

During the reporting period, Chindata Group’s IT capacity in service reached 361MW, an increase of 24MW quarter over quarter, while its IT capacity under construction grew to 217MW, with a substantial rise of 64MW.

In terms of digital infrastructure orders, the company received 66 IT MW of newly contracted and indication of interest (IOI) orders in the second quarter of 2021, and it has maintained a high overall contracted ratio of 86%.

With sustainability being the number one priority of the industry, Chindata Group has also released energy figures that show a recorded total electricity consumption of 797 million kWh during the first half of 2021 and an average PUE of 1.22.

As of June 30 2021, Chindata Group’s cash and cash equivalents amounted to RMB7.024 billion (US$1.08 billion) at the end of the reporting period, surpassing RMB7 billion (US$1.08 billion) for the first time.

The company’s debt to equity ratio reached 34.2%, while the ratio of net debt to the last 12 months’ adjusted EBITDA was -1.7. Adjusted EBITDA increased 65.8% year-on-year to RMB338 million (US$60 million), with a margin of 49.3%.

Jing JU, CEO of Chindata Group, said, “We continued to embrace transformation in the second quarter. In China, with the development of digital economy being a long-term prospect with less uncertainty, the value of IDC industry as key fundamental infrastructure is being increasingly apparent.

“At the same time, differences in the underlying capabilities of players will likely become a key driver of diverse performance. However, the pandemic has also disrupted the supply and demand chain in the broader Asia Pacific emerging markets, posing challenges to the implementation of new solutions.”

He continued to explain that the business’ transborder supply chain with the new R&D method and product solutions will be “fully verified against this background”.

JU added: “To further cope with these challenges, Chindata Group has remained fully dedicated to core capacity build-up covering green-field development, integrated energy solution and white-labelling of key digital infrastructure equipment.

“We have maintained the rapid growth of the scale of our deliverable high-value infrastructure and are constantly supporting our industry-leading clients in the zero-carbon transformation and swift scalability of their business in the Pan Asia Pacific region. We hope to join hands with more partners along such course in the future.”

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João Marques Lima

Founder and Editor, The Tech Capital

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