Chindata Group(CD) - 2022 Q3 - Quarterly Report

Revenue Growth - Revenue for Q3 2022 increased by 62.4% YoY to RMB1,202.7 million (US $169.1 million), driven by robust growth in colocation services[19] - Total revenue for the three months ended September 30, 2022, was RMB 1,202,703, representing a 62.3% increase from RMB 740,768 for the same period in 2021[45] - The company raised its full-year 2022 revenue guidance to RMB4,330 million – RMB4,430 million, reflecting a 51.8-55.3% increase over full year 2021[31] Profitability - Net income for Q3 2022 rose by 207.4% YoY to RMB241.0 million, achieving a net income margin of 20.0%[2] - Operating income in Q3 2022 increased by 72.2% to RMB317.5 million (US$ 44.6 million) with an operating income margin of 26.4%[24] - Adjusted net income in Q3 2022 increased by 162.8% to RMB294.3 million (US $41.4 million) with an adjusted net income margin of 24.5%[28] - Net income for the three months ended September 30, 2022, was RMB 241,036, compared to RMB 78,406 for the same period in 2021, reflecting a 207.5% increase[45] - The net income margin improved to 20.0% for the three months ended September 30, 2022, compared to 10.6% in the same period of the previous year[50] EBITDA Performance - Adjusted EBITDA for Q3 2022 increased by 66.8% YoY to RMB614.5 million, with an adjusted EBITDA margin of 51.1%[2] - Adjusted EBITDA for the nine months ended September 30, 2022, reached RMB 1,653,311, up from RMB 1,014,664 in the previous year, indicating a year-over-year increase of 62.8%[50] - The adjusted EBITDA margin for the three months ended September 30, 2022, was 51.1%, slightly down from 52.4% in the previous quarter[50] Capacity and Utilization - Total capacity grew by 45MW to 821MW by the end of Q3 2022, representing a 39.7% YoY increase[3] - Utilized capacity increased by 53MW to 454MW, reflecting a 69.3% YoY growth, with an overall utilization ratio of 78%[9] - Total contracted and Indication of Interest (IOI) capacity reached 700MW, marking a 41.9% YoY increase[8] Expenses - Total operating expenses in Q3 2022 increased by 11.4% to RMB148.7 million (US$ 20.9 million) from RMB133.5 million in Q3 2021[22] - General and administrative expenses in Q3 2022 increased by 36.1% to RMB116.1 million (US $16.3 million) primarily due to higher share-based compensation and professional fees[22] - Research and development expenses in Q3 2022 decreased by 18.6% to RMB17.5 million (US$ 2.5 million) compared to RMB21.5 million in Q3 2021[22] Cash and Assets - Cash, cash equivalents, and restricted cash as of September 30, 2022, were RMB5.0 billion (US$701.2 million), down from RMB5.8 billion as of June 30, 2022[29] - Total current assets decreased to RMB 6,347,323 as of September 30, 2022, from RMB 7,456,725 as of December 31, 2021[43] - Total liabilities decreased to RMB 8,567,319 as of September 30, 2022, from RMB 11,580,939 as of December 31, 2021[43] - Total non-current assets decreased to RMB 12,334,628 as of September 30, 2022, from RMB 14,806,755 as of December 31, 2021[43] Innovation and Technology - The company celebrated the grand opening of project MY06 in Johor, Malaysia, with a designed capacity over 100MW, including 19MW recently put into service[12] - The company’s hybrid evaporative cooling technology won a national-level award, demonstrating its commitment to innovation and efficiency[16] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[51] Shareholder Returns - The company reported a basic earnings per share of RMB 0.33 for the three months ended September 30, 2022, compared to RMB 0.11 for the same period in 2021[45]