Chindata Group Records Q2 Net Profit of RMB65 million, Underlining Ongoing Profitability and Strong Development Capabilities
Chindata Group (NASDAQ: CD) reported strong Q2 2021 financial results with a revenue of RMB686 million (US$106 million), up 64% year-over-year, and a net profit of RMB65 million (US$10 million). The company's IT capacity reached 361MW, with 217MW under construction, reflecting ongoing growth. Cash and cash equivalents rose to RMB7.024 billion (US$1.08 billion), and the debt-to-equity ratio stood at 34.2%. Chindata Group’s focus on energy efficiency is evident with a PUE of 1.22. The company is expanding its digital infrastructure while maintaining substantial cash flow and capital utilization efficiency.
- Q2 revenue of RMB686 million (US$106 million), a 64% YoY increase.
- Net profit of RMB65 million (US$10 million).
- IT capacity in service grew to 361MW, with 217MW under construction.
- Cash and cash equivalents at RMB7.024 billion (US$1.08 billion).
- Debt-to-equity ratio of 34.2% indicating healthy financial structure.
- Pandemic-induced supply chain disruptions affecting implementation of new solutions.
BEIJING, Aug. 26, 2021 /PRNewswire/ -- Chindata Group (Nasdaq: CD), a leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets, today announced its financial results for the second quarter of this year ended June 30, 2021. The Company posted a second quarter revenue of RMB686 million (US
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
As the demand for more efficient and advanced digital infrastructure with higher device density continues to grow, Chindata Group has adhered to a high standard of energy efficiency. In the first half of this year, it recorded total electricity consumption of 797 million kWh and an average PUE of 1.22. Furthermore, an ongoing focus on innovating its core capabilities saw the Company increase its number of core patents by 25 in the second quarter, reaching a total of 256 patents. It also continued its efforts in converting green power into more efficient, advanced and hyperscale computing power.
During the reporting period, Chindata Group maintained a sustained and stable financial performance with the abundant cash flow and efficient capital utilization. As of June 30 2021, Chindata Group's cash and cash equivalents amounted to RMB7.024 billion (US
Mr. Jing JU, Chief Executive Officer 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. Our transborder supply chain with the new R&D method and product solutions will be fully verified against this background. 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-labeling 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."
About Chindata Group
Chindata Group (NASDAQ: CD) is a leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets and a first mover in building next-generation hyperscale data centers in China, India and Southeast Asia markets, focusing on the whole life cycle of facility planning, investment, design, construction and operation of ecosystem infrastructure in the IT industry. Chindata Group provides its clients with business solutions in major countries and regions in Asia-Pacific emerging markets, including asset-heavy ecosystem chain services such as industrial bases, data centers, network and IT value-added services.
Chindata Group operates two sub-brands: "Chindata" and "Bridge Data Centres". Chindata operates hyper-density IT cluster infrastructure in the Greater Beijing Area, the Yangtze River Delta Area and the Greater Bay Area, the three key economic areas in China, and has become the engine of the regional digital economies. Bridge Data Centres, with its top international development and operation talents in the industry, owns fast deployable data center clusters in Malaysia and India, and seeks business opportunities in other Asia-Pacific emerging markets. Visit official website for more information: https://www.chindatagroup.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/chindata-group-records-q2-net-profit-of-rmb65-million-underlining-ongoing-profitability-and-strong-development-capabilities-301363485.html
SOURCE Chindata Group
FAQ
What were Chindata Group's financial results for Q2 2021?
How much did Chindata Group's IT capacity increase in Q2 2021?
What is Chindata Group's debt-to-equity ratio?
What is the PUE recorded by Chindata Group in the first half of 2021?
How many patents does Chindata Group hold as of Q2 2021?
