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Chindata Group Holdings Limited (Nasdaq: CD) is a prominent provider of carrier-neutral hyperscale data center solutions tailored for the Asia-Pacific emerging markets, including China, India, and Southeast Asia. Founded in 2015 and headquartered in Beijing, China, Chindata is recognized for its comprehensive services that span the entire lifecycle of data center operations—from facility planning and design to construction and management.
Chindata delivers a wide array of services including colocation, managed services, energy procurement and transmission, and IT and network services. The company operates under two key sub-brands: Chindata and Bridge Data Centres. The former focuses on hyper-density IT cluster infrastructures in China's major economic areas like the Greater Beijing Area, the Yangtze River Delta, and the Greater Bay Area. Bridge Data Centres, on the other hand, provide rapidly deployable data center clusters in Malaysia and India, with potential expansions in other Asia-Pacific emerging markets.
In recent developments, Chindata announced a significant Merger Agreement with BCPE Chivalry Bidco Limited, aiming to become a wholly owned subsidiary in a $3.16 billion deal. This move is expected to make the company privately held, ending its NASDAQ listing.
Chindata also launched innovative full-stack solutions designed to address power and cooling challenges in the era of Artificial Intelligence Generated Content (AIGC). These solutions include the X-PrePower 3.0 for power efficiency and the X-Cooling Maglev Two-phase Cooling System for effective heat management. The company continues to pioneer in energy efficiency, achieving an average annual operating PUE of 1.21, significantly lower than the industry's global average of 1.55.
Financially, Chindata has shown robust growth. For the second quarter of 2023, the company reported a revenue of RMB 1,553.8 million, marking a 49.7% year-over-year increase. Adjusted EBITDA was RMB 816.1 million, up by 49.9% year-over-year, with a net income of RMB 219.2 million.
Chindata's commitment to innovation and operational excellence was recently recognized as it won the Best Data Center Service Provider and Best Data Center/Edge Service Innovation awards at the prestigious 2023 Global Carrier Awards in London. These accolades underscore Chindata's leadership in data center services and its forward-thinking approach to technological advancements.
As Chindata continues to expand its footprint across Asia-Pacific, the company remains focused on providing state-of-the-art solutions that meet the computational and energy needs of modern businesses, driving the digital economy forward.
The Thailand data center market is set to achieve a significant milestone, projected to reach USD 1.33 billion by 2028, growing at a CAGR of 10% from 2022. This expansion is prompted by numerous global players entering the market, enhancing local competition. Notable investments include Chindata Group and others, contributing to a predicted revenue of USD 320 million in colocation services by 2028. The market's physical infrastructure is expected to cover 226 thousand sq. feet with a power capacity of 56 MW. Growth drivers include enhanced connectivity and rising adoption of cloud services and IOT technologies.
The China data center market is projected to grow at a CAGR of 2.7% from 2022 to 2028, reaching USD 34.03 billion by 2028. Key drivers include increased digital transformation, adoption of cloud platforms, and government initiatives supporting data center developments, particularly in Shanghai. The city is set to see the establishment of around 59 upcoming data centers, contributing to a total power capacity of 1,565 MW. The growing demand for data portability and security is fostering investments in renewable energy and sustainability to align with carbon neutrality goals by 2060.
The Internet data center market in China is projected to grow from
The global data center colocation market is projected to grow at a CAGR of 6.5% from 2021 to 2027, driven primarily by cloud service demand. The APAC region leads in investments, followed by North America and Western Europe. Notable operators in the market include Equinix, Digital Realty, and CyrusOne, many of which are focusing on sustainability through renewable energy initiatives. Significant investment opportunities arise as 5G deployment enhances edge data centers, and government incentives encourage growth. Challenges remain, including rising carbon emissions and security concerns.
The India data center construction market is set to grow at a CAGR of 15% from 2022 to 2028, reaching a market size of USD 3.46 billion by 2028 from USD 1.52 billion in 2022. Key drivers include increased cloud adoption, 5G deployment, and innovations in technologies like IoT and AI, fostering demand for data centers. By 2024, 80% of corporate banks in India are expected to utilize cloud technology. Major investments are expected from local and global companies, enhancing infrastructure across regions like Maharashtra and Tamil Nadu.
On December 7th, Chindata Group won the "Data Center Design Innovation Award" at the DCD Awards in London, marking its second win. The award recognizes the company's hyperscale container prefabricated structure data center in Johor, Malaysia, which has set multiple construction records. This facility features Malaysia's first pre-installed cold-plate liquid cooling module and a power usage efficiency (PUE) below 1.2. Chindata aims to expand its global presence in emerging markets like Malaysia, Thailand, and India while addressing the growing demand for digital computing power in the Asia-Pacific region.
Chindata Group Holdings Limited (Nasdaq: CD) reported strong financial results for Q3 2022, with revenue reaching RMB1,202.7 million, a 62.4% year-over-year increase. Adjusted EBITDA grew by 66.8% to RMB614.5 million, while GAAP net income surged by 207.4% to RMB241.0 million. The company raised its full-year revenue guidance to between RMB4.33 billion and RMB4.43 billion. Chindata's IT capacity increased to 821MW, and the firm opened a hyperscale data center in India and celebrated the launch of its MY06 project in Malaysia. Innovations led to a total of 400 patents.
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