CD - Earnings call transcript Q1 2021 | Chindata Group Holdings Ltd

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Operator

Good morning and good evening, ladies and gentlemen. Thank you and welcome to Chindata Group Holdings Limited First Quarter 2021 Earnings Conference Call.

We will be hosting our question-and-answer session after management's prepared remarks. Please note today's event is being recorded. I will now turn the call over to the first speaker today, Ms. Director Group. Relations Investor Zhang, of Chindata Joy Please ma'am. go ahead,

Joy Zhang

questions CEO; to XXXX everyone. are earnings Vice our President. our our conference Zoe Hello, and Mr. Nick quarter Ms. the to and Zoe behalf our will CFO; afterwards. of Ju, On today through financial our call. answer Chindata's Finance Zoe our of results. will Nick review CEO, us Nick, will first present Welcome Zhuang, here be Wang, operational With your you I'm Alex, take quarterly performance Alex Mr. and Joy.

go Safe Now, through I'll quickly the Harbor.

Some could may today regarding be cause differ materially. actual the risks involve our performances and that forward-looking, of financial statements results such to and of we're considered a statements that business, uncertainties making number operations and

please has filed For and the with the the quarter XX, to XX-F discussed ended Form for risk SEC SEC recent most in X-K been refer March more with which information, the our as filed well. also our in factors XXXX,

call, through located this distributed reconciliation GAAP is and measures GAAP earnings present we Relations Investor the in both A our to non-GAAP to public available release, included which of and press at non-GAAP is investors.chindatagroup.com. our website figures. will During

Nick. ado, our further have I refer website, which will to the turn We you updated quarterly Without company's now also the can today's for as on presentation Investor to call call. Relation supplementary over material

Dongning Wang

Hello, everyone. you, Thank Joy.

build we capability. slide. increase XXXX again delivered look capacity grow once a continue page solid take first highlights as the effectively control the cost capacity, the quarter let's some We period to in and revenue, on Now our for first X of at of results

our data XX XXXX. megawatts number compared IT end with terms total with megawatts of quarter-end the grew XXX capacity of end our capacity, compared In XXXX. service in XXX center We our to reached in-service XX by by by of of

China, seven construction our by end and India performance total a in computing the efficiency total power megawatts efficiently business centers IT capacity, of electric and under of XXX power data maintain power. converting capacity megawatts a throughout with On construction we XXX have to of energy utilization under continue XXXX. of into For Malaysia, with a we efficiency, compared

Our by the XXX year-to-date X.XX end to full-year and of XXX by average first total The in approved compared power kilowatt X.XX quarter-end the XXXX. consumption compared XXX hour was by quarter million our with reached quarter pending number PUE patent was XXXX. our and of first end of in

than in construction the which effort for additional and less center at $X line quarter, quarter such megawatt high and cetera. revenue bottom industry operation in below et to and well data top key our average. and is cost technology, XXX.X% as centers million XXX.X million year-on-year respectively. remained construction during all-in initiatives construction average capacity net and XX.X% historical as service maintain We build-out XXX.X data RMB patents income cost per some for management adjusted reached and increased RMB module, continue by practice, equipment, and million our On we effective the cover financials, and strong our efficiency With improvements, cooling

kilowatts per X megawatts This and CNXX at can particular, Northern CNXX clients, data of of The and capacity fundamental existing has have as quarter will megawatts investing quarter. converted In which And cabinet well CNXX and added Such from we megawatts On XXX made that with including be China. CNXX, project partner to steady and our in added up as slide up utilized XXX was contracted by the the respectively. year-end in we center capacity. we of high a on indication kilowatts capacity, increased to in density of the completed with our newly installation trusted see China, collaboration a the computing In our to delivery look commitment. interest we northern take CNXX, on such quarter. a existing project, let's which total the in with CNXX the assets the solid CNXX in steady megawatts cabinets expanding from around in-service XX clients. inserted of newly for capacity X to accommodating to to X a CNXX, been long China capacity contracted total such technology and the will and to XX China, and of by ramp in expansion along Northern XX southern Now, closer you possible. our first capacity capacity. demand in in X. installed be CSXX, in added density increasing was We XX among continued megawatts continue our total slide managed as XX maintain megawatts products XXXX contributed are megawatts first CNXX-A our We utilized construction high

of the of was see the combined would capacity, capacity you consideration of contracted slide interest be As on XX% all taking in all indication capacity can in-service into the in-service XX%. ratio X, first contracted quarter, ratio

consideration BBYXX be XX.X% capacity capacity, measures take was the of overseas all development, first would our For being given watched On for status India, pandemic the interest the and combined XX%. capacity, in project quarter, will ratio our project. of is the we into of adequate of the situation closely the under execution indication construction contracted contracted in constructing under ratio taking

Next slide.

last On megawatts in are subgroups better of buildup providing of cost development next effort in XXX renewable better cost infrastructure Our strategy progress initiatives, our X,XXX long-term strengthen steady for computing industry and the plan. diversification photovoltaic with advantages. project further capacity existing renewable efficiency generation following and pursuit energy the in and generation of our energy business our our the we power establishment building, and making our vision the solutions technical capacity serving megawatt continue to and leaders digital three greater quarter, we in with the

in As additional and April, a megawatts XXX signed our recent further long-term local megawatts. we expanded framework capacity the thus energy X,XXX development, development development government agreement an to renewable planned with

company the converting on resources power our proper long-term development internal efficiently the to forward, to business energy of will and computing safeguard power. carry Going to and electric utilize external

On recognized ESG the constantly environmental and X, sustainability the side, the published report our is April on is society. green its on effort Furthermore, company available our second being which by website.

all published center XXXX his As companies a surveyed, number cloud and XX has topics recent scorecard April on and among Greenpeace efficiency, ranked one Cloud report range energy industry of transparency, of out government on scorecard and reduction, energy cover and Clean with influence. clean internet a data energy Chindata of a energy total score This of XX carbon renewable and development, XXX. performance,

the time, selected are signifies company the to MSCI turn recognition the our capital listeners to on this the XXXX year-over-year Being posted earnings two our refer will have now Index. first mindful that announced of of years of markets, market release, with a the in encourage the a Shares over MSCI the along press quarterly it which XXXX all All terms and inclusion includes XXXX. are numbers of May it May company The to year. the are scored on Quarterly of noted. Review to topped note list its I we further We China XXXX. Finance, Zoe, energy consecutive market. performance online Please results VP earning of take XX, from is details. quarter Such May basis, and key On also all go over addition perfect comparisons for Index our and XX will other for after out for our I our and renewable today results results that XX XX, RMB additional otherwise unless on in closed financial on effect

Zoe Zhuang

XX.X% the In turning growth revenue our RMB in to XXX.X up million previous slide Now, organic from a of X the revenue centers. last with of organic of in-service data XXX increased megawatts megawatts of and of at megawatts last in-service from strong includes increase to of utilized in million at growth by XX.X%. QX line data year, This our XXX growth as capacity XX. around The XX around XXX to QX was in new ramp RMB megawatts quarter-over-quarter total from capacity QX, year-over-year from grew QX centers end end year.

year-over-year our and trend, while increase adjusted continuing income. recorded XX. EBITDA, expense net cost revenue, enabled our us adjusted margin XX.X%. We the On adjusted to effort EBITDA stable XX.X% slide while maintain adjusted outrunning of the of prudent EBITDA our and control to was margin Moving margins to that grow

a recorded first XXX.X net of year-over-year into historically Maintenance items, further a a recorded and company. look million the XX.X% reached RMB for income increase for adjusted detailed of net million SG&A on RMB quarter XX.X and to also The our recorded the last income fourth was XX.X the year-over-year compared costs slide period in adjusted high of year-over-year income same Take margin quarter expenses cost and quarter million Adjusted the in costs year XX.X%. of adjusted Looking at XX. net and XXXX. utility XX%, increase a XX.X%. increase of in a the RMB the other

first commitment to XXX.X position cash of On from our of We healthy process for million XX, in cash cash the XXXX remain and was We're are RMB as development. a healthy. of and to financing our a generating credit healthy of operations. holding diversifying position also year. of quarter equivalents, flow of million channels compared CapEx slide our period same can the you for meet XX, RMB XX, end we cash RMB as X,XXX.X the Slide have ratios see X,XXX.X March million that of last

total CapEx, interest million in Our RMB cash financing quarter. mentioned the coverage in the same to flow to X.X cash the ratio RMB cash compared than quarter XX.X the last position first was was or generated operating contribution to adjusted period The million was cash of XXX.X activities. Meanwhile, from and from ratio the interest our flow in change EBITDA of previously, as operations the other year.

expect prepared our into subject to RMB X.XX the preliminary are EBITDA and and remarks continue Operator, range be rest XX, our and of reflects adjusted of be on on billion operational change. slide now in forecast X.XX our guidance for This in This looking total X.XX we Moving current take revenues billion RMB billion. ready XXXX, views today. billion the are questions. X.X to we to to RMB concludes of conditions, which to to markets to range the RMB our to

Operator

[Operator Instructions].

Your first question from Liu. comes Yang

Yang Liu

do [Foreign will Language] I the translation briefly.

approval local question hear comment in the be would is Province. expected the on the domestic like the management the year. says data service And tightened And future expansion dynamics. of in a the the – competitive and to CXX-B that is, market, especially one impact We regarding quarter dynamics what first for province? is this project key project Jiangsu housekeeping first new Hubei We in question ready for What now? to center page would The second question see government but with Hubei Chindata's presentation, capacity. in the under is for is status that X third it the construction,

Dongning Wang

the of the their see vulnerable intensified don't Jiangsu it Province. We limited the also there them some For regional in-house true we the competition who the negative for their the IDC first in those of in competition was scope region especially rigid to a all, makes intensified capabilities, service provide operate. intensified some value noticed think cost company the of competition. cannot Chindata, that and that question structure and have about But the market of because sensitive to would we recently, impact limited competition, to very operators level in customers relative

importantly, we sector on we So, believe is to quite the is kind the But immune are hyperscale impact competition. this most very us of in limited.

want For this to I little a more bit to point, explain. time take

a highly sector, the probably and retail our on wholesale very, from than efficiency development which the and hyperscale stack capital and model the based differentiated to you knows that know, full As has is And is other cost operation. models. Chindata the primary unique everybody traditional higher very much

have this unique a definitely three So, characteristic.

the spending Chindata under spending acquisition CapEx of model, is same under market than Therefore, capacity level based the unit side, total CapEx our On much lower our less. value. per IT the on based is investment on for CapEx cost spending much trading model merger

our shorter to are This much cycle and as faster, Second point rate, return is reduces enhances rate significantly capital capital. our capital our we and ratio, ramp that up is capacity delivering increasing our of actually is project turnover capable actually return invested on quicker. cash leverage

business fluctuation to Chindata's hedging reduce In advantages and financial of model we the result ER repeat performance some our the hand. of capability addition, presentations. releasing and far. policies, model of so cash in and great help cash our on I our in introduced prudent want number Chindata pooling These interest foreign official and operation treasury just exchange policy model

profit and the the which borrowing less for less interest think We costs And spending on positive per include not ever decreasing our page the presentation. anymore. ample capital liquidity at healthy expenses, has cash quarters release on on low So, the balance. metric remained relatively consecutive depreciation and structure and to the can adjusted earnings past. side, I leads figures on and another our suggest overlooked amortization XX CapEx depreciation in should leads take be net why and which you and loss have interest income, this income look debt explain we low perfectly amortization to net unit costs. and side, our level And

remain very our in and I take another low ratio level release our you is incremental earnings trending debt XX profiles Again, on long-term look at our at down. presentation. cost suggest Our page borrowing liquidity

summary, stick efficiency in as hyperscale in full all So, cost Therefore, development advantage and our relatively and matters. service especially price to where related unique maintain long stay our operation centers. of going immune to on scope as we're we take with level, our data model, capital operate locations the competition, we

number that's one. your question So,

the CNXX-B, make number overall request follow a this question little the follow make server we CNXX, the our our to of our CNXX-D, this data won't among this actually Your bit deployment, requirement overall this the detail, request. centers. I on the about demand data about delivered the utilization different had redeployment result assets but some from actually When from customers. servers' reconfiguration and customer center, we And on actually QX principle redeployment QX of data asset based our elaborate therefore, strategy this actually, always our is in in is three on customers. and we

of the So, that's one actually reasons.

my Regarding current to on our going policy, to province, macro Hubei Zoe, give about to on colleague, regulatory I'm policy your policy, question too elaboration this. refer the you to

Zoe Zhuang

in or operating foreign Regarding industry has unique project question, investment, second and contribution the also personnel company's fixed taxation, and locations terms the investment, advantages company's and currency great empowerment in model upgrading. our also of talent enablement employment local regional asset the

on policies very will word, limited tightening of one the the in So, regulatory company. have impact the

Operator

James from Wang comes question Next from UBS.

James Wang

opportunities. from UBS. is [Foreign on just Language] first James overseas Wang question the My

So, in they've Cloud, indicated large its in its recent lost a Ali customer announcement, cloud international business.

this be So just and of one accelerate key might wondering your whether whether tenants international that could your expansion. anchor

question second on The carbon is neutrality.

customers whether existing actively projects renewable IDC them has sourcing. renewable also and potential wondering whether a ESG. become these And the just trying and also, So, KPI to energy customers, are for renewable whether our customers, are for with and on new up peers energy looking catch both energy

ahead ourselves resource we on on question do this keep And how aspect? is So, the availability. third particular

energy tightening handout. government like the looks is it quota So,

looking, looks how construction quarter first is at in look down the like the given Thank year? the under versus we last quarter, projects if fourth So, our bank that of current particularly it's you. land

Joy Zhang

first our and For CEO you Alex for give will question, I'll invite answer. question. to Zoe third second you invite answer. And an to we the the give your

Jing Ju

give I'll answer. a Alex Language] [Foreign for you translation

really affect name anchor customers, is ready or not us not not so does disclose But the it as James' For of Alibaba much. currently, as one yet. current new of specific customer, question, to we to our first are expanding that possible

required all customers are us in for as very have agenda And own it regard, for the the suppliers. their issue important question, continuous the on they second ESG on development. And all of posting as their our that keep well. For so current making and

neutrality key request really customer neutrality. the very give already them very work, with our approaching They and carbon that requests developed far, appreciation our of goals already business So we the anchor a some carbon Even and are hard us. does not give for company's clients have our what We for existing us always of us we existing roadmap have maintained visible all collaboration Also, for potential do model. their our customers all of potential on express relationship, think future development. attempt with records. have cooperation and and development definitely the second under new within aspect, the ESG we the and this with in substance expanded do our sustainable hard our benefit the and in the will with clear exploration leadership in green of industry, aspect

X, being second now in by second and our development, Chindata one ranked the published on Cloud has a recent Internet all effort as published report available companies and green number society. a on the cloud among which ESG April website. is recognized Greenpeace is year its also, And our And row. report Clean constantly have data our as center XXXX We of

score list year. this have with perfect and XX We topped the XX performance on a energy out of renewable

Zoe Zhuang

believes On the periphery city the our the level [indiscernible], is distinction tier customers. and there operational first key third longer no the at customer question business infrastructure between target the a for areas regarding the for that company

has company judgment on and such early as a a made certain energy. reserves trend already and few this years the Our prepared very ago land

you. some will the to of first allow the dominant maintain Such from position have a of current advantage us point mover advantages we So, view, kind supply gained already. side. Thank on

Dongning Wang

One more point.

think I service, is one only in under every ER the assets assets in one other presentation quarter, the releasing the categories, there's always construction.

under in-service actually of operation. large assets, we moved construction become the part the the So, is – reason decreasing in some of of the project

midterm believe we up going the in-service the we achieve And So, reason. and actually That's have project major I going to move some recently, in to – the customer on on some just assets and category. we're going with as that to have project new think near made existing now. to and in strong you supply certain a pipeline location, already make some development based advantageous geographic to we potentially Zoe mentioned positive also, we're

to time out assets under to construction appropriate categories the in this going we're find disclose So, future. through the development

Operator

Your from from next comes Citi. Arthur Lai question

Arthur Lai

site. Shanxi first cost-out question, terms of these in regarding gross the sites the Language] on average further is the line the one perspective? can the new Lastly, increased why And question over from is from new megawatt [Foreign the expect housekeeping My cost second profit megawatt we quarter? the

Jing Ju

in For the English. that the question need management, I we logistic don't repeat think to

questions it ask So, you only need try English. the answer time. only to to We save English in to

to, like your certain the plan, question one bit the we're mix to going And company's yes. Shanxi, hyperscale in energy just definitely Shanxi to our There think moving on back about is side the higher center into future. side, is moving moving asset focus first resource on putting energy Arthur, I So, the Shanxi side, the operating put for of the into future a renewable especially data asset, of on forward. geographical advantages the become the mentioned. going little we're advantages

long believe we would come term say, matter execution the play our about cost with second actually no down. And already the the utility increase region Your winter question answered in average yes, QX, our cost what going But play, come that's weighted mid It's of in cost the the addition into our costs question. come the, due strategy more our long seasons. you regions utility our the to forward, much asset actually is. to hyperscale the renewable costs, especially I issues, coming in seasonality in renewable is average to come utility – favorable and in run, into cost moving in into it renewable move whole low forward, service, energy moving energy also, down especially those we region energy average the utility in believe with regions, low with data into

Operator

Instructions]. [Operator

from question Goldman Tina next Sachs. Your Hou comes from

Tina Hou

on the growth all, EBITDA of very as of way First is strong the tracking revenue Obviously, ahead full-year results. growth guidance. congratulations as well your

a have few So, I questions.

The pricing. first regarding one is

XXX,XXX. and the RMB X now quarters effective to the like of around month have RMB previous per from pricing I from it previously per close So, megawatt million seems megawatt few sort has down calculated come per result, to

second wondering has the question demand. just what regarding then, pressure driven recently. pricing the is customer major So And

As major that slowdown some prospectus, a seems recently, social usage to with there – customer. know that that is we know we from provider. be the your tenant content And

that's with So how margin. going question that affect the to regarding demand us? EBITDA you wondering And do third customers your think is then, longer-term

obviously, We well. quarter, performed it have for has seen, very this

do a this last And provided what will level? forward, stabilized be earnings CapEx X your going think relatively management the the is billion guidance call, to RMB regarding So, understand X margin I RMB last about CapEx. during year's you question billion. that, quarter's

that this when megawatt. remember million together account, CapEx with take we into $X in $X.X RMB per we per around had around around last prospectus, per addition, if billion, million year's So is X the calculate megawatts megawatt. the CapEx total we I

wondering So, I missed I CapEx in something was numbers there? the just if have

Dongning Wang

think especially Just doesn't a mathematical price, of sort I QX actually the XXXX versus our quarter-over-quarter MSR clarifications, decrease, or essentially. average QX XXXX

So, QX numbers. saw versus XXX our is what QX you probably

MSR. just the want however, little for So, driver I'm on But, I the a clarification this. bit explaining

our are region So, different other. will or and price region. the from costs regions by center their Because different development located data varies one operating and projects in the to be assets contract

theory price each Chindata has not region, been to all. competition by lower offering customers. in affected market is, But our stable the at the cost the and region, certain our will contract remaining the for the make So, lower very price

our that's further MSR. the Okay, weighted region, for the price forward. are data to geographical major our driver the that choose mix average its located the Chindata of to will of customers. Obviously, offering explanation. lower Again, a offer looking where are And the centers lower cost

where as and – And future, us in assets And the side renewable probably we're going we to for low. the peers. cost to into compared therefore, Shanxi answer customers the to energy into the more to that competitive moving So, deployed advantage and Arthur pricing low cost abundant have actually get assets side. give Lai is market, our translated relatively our cost going the resource is that's to expect those a more question on I build into the data slightly the regions center data

your So, that's questions. actually my answer to first

Actually, about first customer, get Your any that the customers. our our demand. slowing for important for feeling we down business second most our don't customer, anchor question especially customer of all,

their various quite the regions lower under we when for actually project demand assets That's a On there this quarter new seeing co-anchor construction. new James, center last from the is strong. remains business contrary, data quarter our to I numbers why in are question customers for why some for compared for answered

see You're I terms demand category for the and demand and on numbers competitive we advantage relationships and customers. credentials both more and and, we operational mentioned. our existing projects believe in advantage going under development good into superior available our most – meet just the through as established with the added executional in side. this we respond have importantly, to based this move once And our construction materialized, capability existing partnership of our resources, on on reason the service strong supply these for the swiftly of because we We become can also

my long-term to second refer and to your and third question to the that's Zoe. your So, answer to CapEx I'm going EBITDA colleague, margin fourth my related question. And

Zoe Zhuang

as question, expenditures, land equipment the target. this And regarding margin infrastructures, is engineering midterm the also targets And for scope. the substations her especially it's for construction, third in XXs the from such the the include Tina, mainly the our at EBITDA construction auxiliary and project. CapEx. high mechanical last company electrical, share, for this civil question, CapEx, for the and

estimation will the supply it add that confirmation in-service will we'll under centers. on and the have very have Usually, we for the superior for payment. if is data final construction and a our vendor update the And pipeline some still ready new each includes also quarterly their together, these project, information also we release. they're have earning two have since they after additional we chain for and up service, Secondly, CapEx for balance management, it and timely you

Operator

next from from DBS. Your Ko comes question Chris

Chris Ko

what share view first. of This Congratulations and management second investigations customer questions data I antitrust the Chris my located? on center management on the where slate, platforms the Ko Could from on are share have more acquisition demand against focusing your the strategy and impact two strong progress could internet results. And demand? the on question color DBS. on of the we're new is, is sectors potential

Dongning Wang

our a participant I in of the know, as their towards anti-trust Liu downstream customers. a I just Yang, when to business I impact our comment I position industry, As answered in this far anti-monopoly affected. on not think we're got think as government's don't think customer, direct I question the But or attitude question, I for the answered for

think with While have potential day future customers, interaction that is day still certain IDC our on going the into to moving ongoing – a development hyperscale quite the we future still project in of on collaboration IDC we're positive and to regions. different

to Chinese market, making that overseas our be are But them. China, limited to on international digital there we but not also a some our affirmative essentially. some But watch to both impact customers don't on become the customer yet might closely for we acquired in So, acquisition customer or to capacity have well. put anchor significant impact know what And also players, customer the kind also, positive those negative in customers to strategy only in of our only potential in of new our domestic with we development the development, other will customer, our is the it's we positive to pretty leadership as And last terms business going but And new we companies very company our process of name customers. the their and comments anti-trust That's and much QX into our also progress are as the new not situation the year, line. acquiring player impact customer how customer sure future. add did of in with market like in overseas issue. see this list, on potential

make the some we on will right find material once disclose this, we to So, progress time the market. to

Operator

next from Li comes from question CICC. Your Hongjie

Hongjie Li

and have to has related significant a results, leading some whole XX% first public showing growth cloud its more industry. Like, I quarter questions announced over slowdown. one

any part you. So, up demand From how demand trend? change? from to see dynamics any its our or this originally we Thank opportunities supply shift demand the you catch there see customer and change? how undertake now you players? Is So, do new perspective, cloud this the some public the do demand directly to do IDC of

Dongning Wang

Again, public and don't figure customers mind. the just business, will we Internet we our real we customers, the got We potential we area, the our our big or haven't there think slowdown may something be but our cloud are don't some in the think actually potentially public a and in I of that who also don't the like players now, two near know, might at a overall slowing significant accelerated, anchor in do customers, in top we real seeing think, with for I on also slowdown it's our our of mid-term, collaboration interaction But down but be see existing explained know whether are customers, least cloud sides at business essentially. increased, all. I who

marketplace who the for government, question, I companies have Chindata more customer in anchor opportunities cloud will think the we that, said be our than anti-trust, from players And customers, the addressed those are probably And to customers. if new there's well. affected into areas. facing slowdown anti-monopoly So, public our regulation part some the existing risk that's are public more as your are take a those not to there company I second having going think chances of because players cloud anti-monopoly, may enter [indiscernible] business the other this in the by than those major by the affected

Operator

Your Jefferies. Chau next from Timothy question comes from

Timothy Chau

of from I couple questions. have Jefferies. a Timothy I'm

has last meeting. would The being, expansion I The units new you to the customers, to to something understand believe, the current disclose will CNXX on during announced would the about like Malaysia last for example, question new was month, plans what be where analyst CapEx we is second compared the the like the about or company's billion one about announce overseas MSR? about three so first business about of more management if units. company's Microsoft we last last The any investment also with discussion in progress a understand the meeting, the I'd pricing or IDC. there opportunities. the is can in that mentioned can I if customer three expect about like can what business – with question talk

like company I'd would if business. the Malaysia geographical further understand will to like? So, be revenue be plans any your in the split term, have to their what long expand And

Dongning Wang

Microsoft in partner from Yes, as become Malaysia. are question already Microsoft also, Starting well. actually, for closer the we collaborator And closely three. China number have a already your with collaboration in we

relationship the our this at that collaboration. based of pretty has past successful So, the close moment our on projects team the through demonstrated is execution Chindata capability and also

proper positive expand strategy We'll and of time find existing Asia's – them development cooperation scope, one happier. bring our words, our emerging to a happier top to later make always to and customers is in the strategy, cooperation can other wider So, significant our on. disclose the in market. them our to and with China business public some Hopefully, make both this

on time that's And Question new we signed question regarding three. CNXX, plan to commitment in check extended essentially. executable the with So, to the deliver to second think the our even on customers QX acquired the bit. the to have say time them, QX. I think a customer from our that's we about one, and new the in And the major right execution plan I still on these hopefully, to that number concrete moment, quite customers' only those the the we for promise a that product most little plan the with your if the expectations the strategic subgroups. we're I schedule, number everything CapEx – is can the plan our we question deliver you the we likely can going go scenario schedule, And to is time period our long three quality. At objective. three we're exceeding business But fulfill serve project out writing business, will still subgroups our

that, of China with data by of try the make energy. be example, XXX% For sure renewable subgroup the major to hyperscale for the Chinpower, XXXX, it, center Chindata all mission consuming will primary Chinpower, is in

spending where external that, consuming energy will renewable this completely our may build the minimized potential is be made to will energy transactions, can on can partner renewable energy we're from margin and that going objective increased share a improvement geographic have we the huge potentially benefit and green EBITDA to said co-invest hyperscale we of don't sort lower the be green investment of and turning investment energy the invest buyer future if relatively and investment output into plan But bring market Chindata can we with renewable center energy also this location renewable role from Having CapEx commercial basis, a external be to the to project of renewable and in into So, data energy. sure the the seller utilization purchase the smart investors and rely you the to on in by a financial of realizing and energy terms generation achieve. side hard this revenue an by make and make very by to market company. and to more costs

Operator

call. you. concludes for conference you today's Thank participating. This Thank

disconnect now may your You line.

Chindata (CD) 20 May 212021 Q1 Earnings call transcript