Sinnet(300383)2024-08-29 05:46Financial Performance - The company achieved a revenue of 3.917 billion RMB in the first half of 2024, representing a year-on-year growth of 3.1% [2] - The net profit attributable to shareholders was 268 million RMB, with a year-on-year increase of 5.80% [2] - Operating cash flow reached 726 million RMB [2] Business Segment Performance - Cloud computing revenue was 2.784 billion RMB, up 4.16% year-on-year [3] - IDC business revenue was 1.094 billion RMB, showing a growth of 0.9% [3] - Other business revenues totaled 40 million RMB [3] Data Center Operations - The company operates data centers in seven cities, with a total operational scale exceeding 110,000 cabinets; currently, 52,000 cabinets are in operation [3] - The Fangshan data center received M&O certification and the highest level A certification from the China Quality Certification Center [3] - The Yanjiao data center has delivered over 11,000 cabinets, with ongoing stable operations [4] Project Developments - The Tianjin Baodi data center is in the construction phase for both Phase I and II, with the earliest delivery expected in the first half of 2025 [4] - The Shanghai Jiading data center has completed all pre-sale work and is accelerating the construction of electromechanical projects [4] - The company has initiated a joint investment project in Malaysia with its controlling shareholder [4] Energy Efficiency and Sustainability - The company implemented energy-saving measures, achieving a reduction of over 36 million kWh in electricity consumption, saving approximately 23.8 million RMB in costs [5] - Participation in green electricity trading resulted in over 56 million kWh traded, reducing CO2 emissions by nearly 50,000 tons [5] AI and Computing Power Business - The computing power business has exceeded 2,000P, with future performance dependent on customer demand and service scale [5][7] - The company launched high-performance computing services in August 2023, targeting AI and deep learning applications [4][5] Market Challenges - The IDC business faced a decline in gross profit margin due to rising operational costs and competitive pricing pressures [6] - The demand for AI servers is expected to grow, but current applications are not yet widespread [7]