- Earnings call transcript Q3 2022

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Operator

Good morning and good evening, ladies and gentlemen. Thank you for joining, and welcome to Chindata Group Holdings Limited Third Quarter 2022 Earnings Conference Call.

We will be hosting a question-and-answer session after management's prepared remarks. Please note that today's event is being recorded. I would now turn the call over to your first speaker today, Mr. Relations Group. Investor from Zhou of Chindata Don Please Don. go ahead,

Don Zhou

team Hello, Welcome you, Zhang, is Group’s CEO; With Mr. Relations Ms. Wu, XXXX Joy our Zhuang, Mr. Thank today Don the Chindata are us Investor Nick This third everyone. Ms. our call. Counsel. our to Finance Operator. our Huapeng and company. General conference quarter from CFO; Wang, of Zoe earnings VP;

Zoe of Nick to call, through take present our Management operational results. will and afterwards. answer here review this During the team performance you will questions be financial our quarterly will your

I Now, over Safe Harbor. will go quickly the

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

more SEC. For with filings risk please the to information, in factors our discussed refer the

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

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Nick Wang

third performance our XXXX, the we you a and second the between for in again. call XXXX China year Asia full in in Revenue continued financial are of months raising quarters year. of close the joining has full nine solid and straight our for that to nine Thank Southeast record you, upbeat in Hello business first performance. thank a of in already everyone, time and Don. The company surpassed year guidance XXXX. team the its led collaboration quarter The

sees its digital even Data infrastructure to business Computation advantages well company be demand globally, the East in as more increasing West provided policy, catalyst With by hyperscale the as the apparent. for the

correct to strengthen and manner term continue power will a to other stakeholders to build manner, thing a long development, our consistently value a in to and our operate research clients, for in to We to partners, sustainable as enhance create so competitive our in do capability, the business our prudent investors way. right our

burning megawatts, and quarter, XX still our the a XXX healthy an total of X, Now to third some centers data project, We the put increase to into let's third ramp and XX an of XX%. start quarter. megawatt with capacity three up We megawatts one highlights XX our at third received XXX we and of commitment leading total our new Slide IOI in-service Demand On XXX the XX. in of client remains total during bringing burning the an megawatts number quarter. additional added capacity to capacity key additional data capacity to healthy new capacity commitment client rate centers total of and megawatts contracted hold megawatt, strong. our in to quarter, total service,

to XX put and was utilized megawatts total our solid a in bringing utilization rate XX%. capacity XXX Another into of quarter, the utilization megawatts

and innovation devote data for solution. research to We development continue resource to center better and

previous the Our quarter end compared quarter pending the XXX approved with XXX and in year. by last total patents of the reached

EBITDA two margin in Adjusted is such that the up technology strong line technology quarter, was recognition. is center year remains up Recently, the XX.X%. RMBX,XXX.X center which is data XX%, for making high a in prize Our power science evaporative of was growth million data demand net consistent our to quarter, margin party Revenue summit, the years. center effort first for prize bottom million, national in innovation achievements which was catering RMBXXX cooling November, for tune Financially, third income year computing over is over company over was and hybrid and of winning earning data CDCC XXX.X% GAAP new healthy. more awarded straight data in and with only year million high. momentum XX.X% the RMBXXX.X a with year year. top XX.X% year a our

increase Regarding RMBX.XX our year compared be billion in currently year, raised the billion, previous guidance. with which RMBXXX XXXX our is which RMBX.XX this a guidance, for is full of to expect in to we range a twice revenue million midpoint

adjusting the in to the increase is be in which to a compared of billion, expect We RMBXX year guidance. our with previous full midpoint RMBX.XX million EBITDA range RMBX.X million

product go into X. let's Now Slide on construction the our delivery details and of

put megawatts business delivery is the Hebei we the our Indian three capacity Our in capacity XX projects clients. with of supporting a megawatts, line and Shanxi CNXX campus our as CNXX are third province schedule international aims project the into located and service key with quarter the XX original one in support generally total BBYXX, design to of respectively, of of anchor with the client. in the

previously Malaysia, promising XX together under in expanding markets to support aiming of a the construction, put campus hyperscale the in MYXX three, as over of anchor our megawatts Johor, one/two for scheduled we APAC The in further up overseas is data delivery phase currently project phase XXXX. campus the makes are overseas largest MYXX capacity hyperscale We project client we phase our emerging business. three, disclosed, with center company. megawatts a XXX MYXX that

megawatts end as megawatts reaching the quarter service with under Slide quarter, XXX and third by With XXX XX you the construction. capacity brought the on third we changes in can see X, megawatts have above of megawatts, total our the by in XXX up

of under the quarter XXXX. around months the another we have put expect in into Among the XXX by total currently of of a For XXXX, to we nine end, XX be capacity first them rest the megawatts megawatts service. delivered construction of

fourth to originally quarter. project delayed in MYXX delivery this the slightly Our quarter scheduled for is

and XXXX. be another delivered XXX megawatts XX XXXX expect in to We delivered in be to megawatts

clients on demand Now XX. Slide our let's and to turn

and unique existing serve to base client continue their momentum trusted healthy We from overall growth and remains a supporting as our healthy. our demand partner. strong The on clients

Our commitment megawatts in major contributed quarter, support by business total mainly increased existing XX client core projects of to clients. the aim that our two by third

from contract campus of CNXX the megawatt megawatts received megawatts the supporting in key Hebei international project client River in our was XX CNXX on CEXX we product region quarter the XX for client. project Yangtze Meanwhile, IOI converted the Shanxi IOI our client. supporting province, Specifically, key anchor in international into during our X supporting IOI the and Delta

XXX On representing for a XX% total client XXXX, from very, commitment, portfolio. in-service in or third IOI nine We megawatts of of healthy XX% in with XX in compared year. contract the end in our the of months received XXX For first for capacity, around XX% to are year a them previous asset existing either last last continue XX% client increase in year. quarter profile quarter our we a of Slide quarter commitment committed same very maintain and have the clients megawatts of therefore by the

quarter on quarter by of the by quarter For Slide in clients with XX% third compared committed them the of were XX, previous last XX% the same the and end our total year. capacity

remaining contracted years. remains contract of of of the In term X.XX be term contracted the existing around addition, our third in the end to by of majority the per capacity specifically weighted is quarter years and XX XX% megawatts average the

Our has visibility past unique performance such is our the client driven in further solid strong and business our base contract into profile providing the of future.

in Now XX. move coming Slide to on customer

international ramp which took took clients. our put to XXXX. healthy of hyperscale quarters. in combined utilization several reached for on service the take quarter year in into we’ll with in utilization. that utilization XXXX, utilized if the servince and year, same CNXX-C year reach less of quarters high ramp-up delivery quarter compared into client, XX.X% and bringing at put move XXX China performance. up reach utilization. contributed the XX% A if quarter-over-quarter obtained CNXX And in since Shanxi XX% that another XX ramp-up we of our look to capacity projects one better further we led than and closer key one the year campus capacity than added by Hebei sense quarter, with over it faster projects than fast in over was the the CNXX three is of over Quarterly X.XX megawatts XX% product the industry four Indian capacity that for to in and can quality in data megawatts be growth average of reached quarter support to company all projects as megawatts the consistency well last anchor better in third mostly XXX a XX% utilized back at as BBYXX We were in increase. our total portfolio the Our industry base a client contracted differentiated our of of looked XX.X% quarters.

utilization our the project, in construction in on design rate for remained in MYXX October, XX entire October breaking our and of such commitment the construction new the megawatts our the has emerging Meanwhile, XX XXXX. of business the a record to utilized of Bridge performance made MYXX company's Sedenak, The design XX% methodologies. megawatts year. completion been megawatts hand discussed, quarter company of previous and project like data the XXth, XXX recently have disclosed third company was November megawatts third over one On same months company's MYXX XX% would of standing which capacity. quarter also XX, China, Digital healthy, very current construction the among in in the based of to by on XXXX. business APAC leveraging is capacity around of unutilized the [Beyond] of XX% first over in project milestones into Centres, ground grand holds which subsidiaries, solid complete in around The the in by of XX or service Finally, existing put last time the center The Malaysia XXX end client a XX% quarter end Johor, share compared as we we with also completed at the on Data our phase was recent the client in opening Slide market. development the hyperscale quarter, Malaysia. status celebrated APAC the our commitment, just innovative has and ready as we since a

has phase emerging of company delivery MYXX Thailand capacity one, XXX megawatts by under APAC to be service the third quarter, expended. as in the of market, the end well as the XX further megawatts project construction in Excluding another and

with engaging have region market. clients and project XX% APAC We client potential team, existing experienced very been In with a in opportunities relations existing we achieved solid addition have existing the capacities, in confident for and feel local client coming on these an and in to that emerging in actively promising we such, commitment ratio cooperation and in be China and for this future region. quarters the can and further more

enjoying highest capacity, that XX% the Now for of our Beijing of in are larger accounting construction let's of share under among take taking ratio pipelines, asset portfolio while the key snapshot third total capacity. we company our the remains are and end at total XX% quarter. of by the our all our products engine regions in Business look XX% of the operating. accounting of of a our for a utilization capacity region XX% Greater construction APAC utilized

the ESG play our report in selections latest of healthy XX, regions company. differentiated issued consistently the tap to site Greater further other Beijing company and more On XXth, aspects a Slide in opportunities judgment way enable to the and business the report its our of which company which is annual generating ESG business for doing is region out. different into business establish on diversified third early resources, October business of on Our

with zero shared in on technology, of We consistently carbon ecosystem; company prosperous set represent ecosystem; green represents the strategy a our to alignments, ESG for the Web and supply A a will the industry as our ongoing is site. report the our the can data zero have D and the continue indicating taken emission; our carbon partners letter which for energy aligning now obtained to industry; adopting D-A-T-A chain of on and strategy effort A company industry. by as stance T that represent represents or development to of advanced company drive last implying attitude the ESG innovation company's the and driven decarbonization, sustainable information lead the the development More gene be business the the

loan loan green agreement proceeds green entered Regarding edition sustainability, September effort into project energy XX, development. in efficiency in Slide The other building, all of principles with for Hebei renewable on one campuses. is aligned we the bank financing our our On on on intended project project. with loan XXXX research loan a and related innovation a and with green and energy for to our effort

are demonstration CDC China National of of award consecutive for its XXX awarded wider on year, evaporative Xth, to pursuing of years, annual cooling being has perfect leads of of data We converting science and the industry. November power. cooling the a prestigious technical of per award a efficiently It winning solution. was company such. combination On center and is company X.XX summit. Science The the level liquid company's for energy that estimated electric for by been to technology Technology center power a mission prize PUE center The have best the owns first patents estimated ongoing achieved only as catering technology for cooling to and party awarded solutions. is into in computing sub-technology authorized our of numerous two demand XX result technology our efficiency high The center effort prize and achievement achievable Office natural for computing data third first national data hybrid recognized the days data

in performance With turn I please? on for our Zoe, have And these, concluded QX our part now financial over I XXXX. to my Zoe performance. operating details it will for

Zoe Zhuang

Thank Nick. you,

through you performance. walk financial let quarterly me our Now

up. remain financials XX.X% with line to healthy is in RMBX,XXX.X ramp momentum. by quarter a On XX, Slide increased year-over-year reach which or the revenue XX.X% on Our quarter-over-quarter third million, our in steady

utility million, and period amortization cost on the Looking less General expense of higher fees quarter to the by by RMBXXX.X XX.X% total revenue third third same Slide the activity. of million, XXXX primarily driven mainly XX.X% of to due million and increases XXXX year-over-year depreciation share share of in the RMBXXX.X professional increased marketing in to the Selling RMBXX.X this, compensation million income expenses. to income year-over-year and XXXX, during third further XXXX in costs third high expenses year-over-year in XX.X%. in RMBXXX.X year-over-year XXXX decreased by period. compensation the in historical in million down administrative third based with from to of increased by to RMBXXX.X quarter XX, with of XX.X% less expenses marketing a quarter increased of by margin due net primarily and million and incurred based of margin a operating increased With and XXX.X% RMBXXX the XX%. XX.X% Net to quarter quarter by

expense cost core XX. of breakdown further and For on items Slide

we utilized proportion Hebei the the the last of adjustments IR Maintenance still were increase to million mostly lower reconciliation as company. Details be utility for XXXX. Slide fee same income at in in and maintained Adjusted remained the a charging campus it’s cost, by of over and of would third to adjusted and leading total in profitability our of at flow of quarter. the in non-GAAP effort as than Adjusted SG&A slightly utility in of as GAAP RMBXXX.X million, mechanism recorded as cost in costs from a XX.X% revenue the in reasonable combination and EBITDA XX.X% came expense adjusted to unit in in in the million RMBXXX.X utility of costs higher a well the majority our revenue economy as the of increased result XX, net and With contributed XX.X% range, quarter, costs capacity Hebei of growth, XXX.X% disclosed at this high accounted result increase year-over-year other projects third margin The year-over-year EBITDA model was Regarding scale quarter of in the PPT. campus faster in the a by of XX.X%. higher to the additional utility available our Dynamics control a but in on year-over-year net to revenue within region. a by cost in our EBITDA have from XXXX healthy. period a stringent due to this, has appendix filing X-K margin increased or quarter, of third quarter utility XX.X%. RMBXXX.X well hitting our XX% income the business on historical the cost non-GAAP led

our at a debt and and Slide position take our let's look Now CapEx cash on XX.

we and and We in remain in construction XXXX major of financing Generally amortization was XXXX secured to to have of schedule. development, financing million. to from nine in the only up by business position speaking, of level months under in CapEx project million of or demand quarter XXXX. in continue our our into CapEx million, XXXX, work expansion capital loan minor more company third RMBX,XXX.X in RMBX,XXX.X increasing the to we RMBX,XXX.X facilities data almost project draw our total investing for third continue the the to down based loan meet the quarter our ending the the ones debt and The customers our year added debt for payback the mature up some first on on do channels centers. open

lockdown the the cash in in delay off due XX, the collection flow flow issues November upgrade to quarter October third quarter operation from negative leads cash system which by RMBXXX.X end by cash payment Regarding recovered clients' RMBX,XXX.X a exchange in following led from a with internal third debt effect COVID-XX million financing of of cash of to to dynamics lower the changes on million has coupled mostly in cash position end an quarter, the one Slide a at and the RMBX,XXX.X of million, already. flow and of investing, million. operation, flow quarter offsetting flow RMBX,XXX.X million and rate position net And cash negative RMBXXX.X from and from

The some a stood EBITDA the debt payment level Now the at net debt leverage exclude while if to total let's collection similar quarter. a adjusted months can from issue, previous compared key ratio, months EBITDA we X last and XX moderated ratio X.X, quarter. one-off adjusted the [seemingly] XX. take coverage at leverage on look with be previous to effect On in Slide ratios remained with at last the XX increase X.X

ratios maintain to environment profitability as XX.X% rising adjusted the with our with to XX.X% ratio months quarter. coverage at we the our compared compared last current market a challenging continue with X improve the debt Our X.X maintained previous XX ratio to quarter. strong structure previous We to capital total under healthy capital EBITDA in our interest in with standing

yielded Our with be previous return year. and prudent healthy in of company the in quarter the ROIC on last have ratio made and together the A generation, possible. cash can of referred return better asset IT financing the profitability XX% A same XX. XX% Slide company's of profile the to policy, of pretax utilization sense by end XX.X% the XX.X% quarter capacity third compared a quarter this

at Full ready remarks or billion. our midpoint now Operator, X.X% raised now Finally, is previous on EBITDA with range the RMBX.XX year guidance, are billion RMBX.XX increase year by prepared year. the compared guidance, the in guidance questions. X.X% the RMBXX second by take Full range billion. the is million raised a momentum, for we during guidance adjusted XXXX RMBX.X a increase to full year with business now the raise strong previous given to today. billion guidance our guidance, to XXXX or compared million revenue raised concludes year in This its midpoint RMBX.XX of RMBXXX full at of which is company the

Operator

Liu first [Operator Instructions] comes from Morgan Yang And Stanley. your from question

Yang Liu

I the the outlook. First, on about like my would [following] congratulate And results. is to question demand

in But As would I up annual reasonable should management whether demand XXX company per I and new the forward this main there's pull are the strong in whether color actually, year, demand look indicated order now sees a megawatts the the previously want few the the to And whether how megawatts and Especially, to at of ask that be demand. sustainable different? more XXX overseas years? the a like future market hear to new pretty China of target. to next to addition any is that and booking

Nick Wang

our also which absolutely to I also demand future, behind assure question Huapeng you and increase before a I'm per Huapeng, our about logic going forecast Huapeng no is the think overseas. demand sustainable And supply and number there the to our and the and XXX judgment, I of midterm, our the year into your on CEO, is both to in a you megawatts behind this into that China chip give and XXX basis capacity future in over on can pull on be to answer to going forward expectation logic use. please? megawatts to turn the on side year.

Huapeng Wu

So will we two divide aspects. the question into

very For China short that demand long small. been our demand, answer term your clients, from a term can question, first either about has let's overseas see From the or perspective, talk China. foreign we to the from

will we So keep leverage in our Hebei current our Shanxi campus and are. advantage on first where

energy lock power and quota. firstly We the and power to such investments resources also on as will the supply, the more resources, especially green up rare keep making

in also an allocations resource the East We critical of eye China. keep the South on part and

around areas. market, to major secure those overseas land we're we Well, resources campuses. for and our down resources going will moderate our the make For current in Indonesia in Thailand, to continue payments

only principle, see our substantial general we'll a As a investment clients. demands when we committed make from clear

a We to pace. XXX will at megawatts still maintain XXX a megawatts growth growth

Operator

from [Operator question Sachs. Hou your next Goldman comes from Tina Instructions] And

Tina Hou

electricity the a result. thank question you is congrats cost. time for strong So management your and on My very about

quarter, a in of that XX% become has north percentage the as revenue. of seen we've it So third

-- in Also delivered is terms to what Malaysia as we since then the and third as first, quarter not percentage expect? revenue, what related already of should into fourth Malaysia quarter project of management price we just So well. trend in electricity our the of the a our into this, kind first and XXXX, seeing ratio

expense a So terms of the in compare of utility the that to wondering of part revenue, how does China just percentage the as business?

Nick Wang

Zhuang colleague, of I is believe best please? Zoe, Zoe question. the our address Finance, to one my this VP

Zoe Zhuang

as mechanism this the unit last earnings call, know change cost we of And disclosed in we charging, the the already. have

this financial results energy already to or statements So around been which quarter and fully the has revenue cost X.X% reflected our total third in ratio X.X% quarter-over-quarter.

However, as always highlight our are in center China supply we areas abundant power as with located resource data relatively well. advantage power that cost campus and with

the the location term with cost. either the think less be our China we your that advantage, the for be other relatively least we there any Chindata in and with or So compared regarding in estimate in near I will second midterm, is is the question regions And Malaysia. power power or stable shortage supply And in price China, future. impacted power that power if across will near

For different all it model. model, our cost projects, takes overseas the is pass through power a

no impact side. is will be there there power in the fluctuation on the EBITDA if costs, So any

Operator

the from Li of comes Mingran question next CICC. Your line from

Mingran Li

the the domestic question expansion rate next strong few opened color more overseas? My profile, of for for and could from revenue mix in the the the on And in questions. Thanks overseas taking the you years. give us plan demand my like and next you contribution regarding move-in between year, October project considering CapEx the Malaysia

Nick Wang

the October, like rate looks part overseas very, first the your of ramp-up we on that delivered arrangement, can a is, our in question I the since contract milestone MYXX in the project, think phase the actually very especially the I we already And the essentially. we is better, fees portion would much one through for think revenue reasonable China. also had collect quicker than contract or normal fast

is I running the the smoothly. really at think So operation moment,

also question I can contribution about for please? and business. CapEx think allocation our the answer the revenue Zoe, Zoe overseas

Zoe Zhuang

gradual are been around most overseas Malaysia keep we percentage of XX%. significantly business that we statements from total competitive China regarding estimate And advantage. for the in see by as is first the are in from will the overseas the than slightly year, growth centers year, the nearly But expenditure next increase And overseas, will be total to the second data the which apparently, projects. in CapEx of CapEx. the CapEx and and nearly of following, overseas have overseas overseas at will level capital project the our The India be overseas campus, And to And year always the years estimate accounted at business under financial can I nine year the this over revenue trend. rates regions, the delivery the the range has similar and XX%. Chinese will be countries, of accounted corporate level revenue. intention has in for XX% the overseas IOI overseas compared important, So it question revenue capacity our increase a those capacity in revenue we around around think X% of the of In But revenue. both total the the of of year the this financial current the capacity, of for group our overseas focus. around construction for higher will of XX% expected the expected, with months the in is accounted is total this the with higher and next end that customers XXXX, year. And from

larger projects. be also the the expect Chinese than So will we proportion that

Operator

Edison from your And next of Lee question line Jefferies. the from comes

Edison Lee

is Q-on-Q that and XQ, year-on-year, margin My gross actually because the margin gross up is and while down question costs is actually in also year-on-year. saw margin, surrounding your EBITDA power I your mainly Q-on-Q and

margin implies that not proportion can power cost the calculations again also that for your on what that is to explain of maybe So new versus the know EBITDA quarter those part projects midpoint I for basis. your and cost your power include would full will include based did your you like your power drop of Hebei on Q-on-Q And guidance that year, that of the a cost? fourth projects

whether other there or conservative wonder I are that's guidance your any reasons? is whether So because

Nick Wang

multiple ways, in Zoe. and Zoe but Please, to Zoe cost some this state facts both question think I our utility QX increase. I'd I rather let can for answer

Zoe Zhuang

the that look the with energy it's province as increase EBITDA that the quarter. offset over is costs scale. revenue with to their if cost is electricity mechanism. around to only, costs in is difference this a think by other the we I rise in X% As grid state and quarter at the in quarter and the compared and the been we offset last think, explained third there this and XX% margin, this around, cost But -- expenses compared changed total is this stayed region. with quarter-over-quarter, this this quarter, economies XX.X% system, I like for due is at well as we last X.X% in charging that other this And charging Hebei has of reason And has the quarter, maintenance

our reflected been has this So in year full guidance already.

this your guidance, the prudent question -- question. And took full second a the So we is first is first year regarding is this very way.

for hit -- quarters. So company always consensus hit record -- consecutive you that have we market been the nine can see has as the

postpone, considering China COVID-XX -- but take on there the for estimate. so But consideration. and And very full take for full very as is -- and current situation consistent go think live, the year supposed So lockdown take some year be prudent, also guidance, still guidance, to into also factor there new we might be on substation we we live. conservative this this very

on than conservative. the forecast. if anyway, very all live, the bit try the performance ensure to think substation But team delivery case, will timely. the And be company, be the better and team go little our on live year will will So the guidance best that the management full a the is I be will

Nick Wang

Edison, effect, and substation the want effect. expected add one onetime kilo-voltage and XXX thing only actually is QX potential is construction I the to only of possible that's the onetime

now, Shanxi the is capacity so that megawatts on based there But to want previous of previous signed the secure protection megawatts, has early on for chance going demonstrated. of So megawatts, region, more XXX can for orders in as energy disclosed, region. the upper side the in capacity. Because always better the total from we point the have our the to anchor as we we up prudent we emphasize is XXX reason rightly we the we'll get XXX megawatts quarter, have the be style resources far our the XXX order future and early future can big necessary we as Right to Huapeng lock I the abundant kilowatts, from the customers. in capacity. all there's And more out, roughly infrastructure, XXX guidance building

fast scale a to and that we for is us we happen make larger as possible. think want it build So move to a as necessity substation absolutely

Operator

your And Hou Instructions] question Sachs. next from Tina Goldman [Operator from comes

Tina Hou

a thank for question chance the the So price. regarding ask you My again. to is second question rental

domestic the over our So I'm in is versus the the offshore past also the all, what what two price the historical customer, market, the level? first pricing market? level contract Malaysia new wondering is And from what versus for is the -- let's anchor of the projects domestic quarters, say, in rental then

Nick Wang

ahead you'd or better go it to Maybe do answer you I'm want it. going first. to Zoe, answer

Zoe Zhuang

first. stable questions, for see so one price and don't for the your first answer the we any the especially been has I'll very And far. sales change is for two domestic us -- projects, regarding

second And your sales So the the question for is this the first question. price. answer overseas regarding is

power model, as the very model one hyperscale and model customer. location, price with a since know, overseas in each data you anchor As competitive. is for the this so is MYXX the these different the And pass is phase for domestic the are centers, is and one through

not in price position a So I'm the here. to specific disclose here

Nick Wang

is overseas is power one one the related. Generally, level, related, part, the other two service a price there

on -- power than related So pass is the China. higher to but I a because it, don't comment we is service through, want if

you So information. I give that can

Operator

back will hand you. for remarks. the Thank call closing I now

Nick Wang

Thank you, everyone, call. for attending this conference

can you business As in probably little have see ways. three undergoing we say, the bit I that contrarian, would momentum a

very Our move-in strong. healthy and is

just And as that very initial very development can very and Our important, request find our from very the other And efficient third, see demand, future the projects and ongoing, strategy management got current to and under even from are them the on you strong, operating CEO myself that of time we to our in answers construction earlier the play will customer. strong. want from to the not electric be some under converting delivered most the and anticipate future speaking power continue also power high profitability, return of the higher This the way out bring to but profitability, the I computing emphasize, stakeholders equity is investors the on all including levels. asset, meaningful actually return historically at and both teen on is to which more asset, concerned, creditors.

keep kind for the And So business balanced focusing focusing return investment keep the I on in you the hyperscale future. versus on time. that scale a efficiency, company that's foreseeable keep thank of to the your say. and focusing want And

Operator

gentlemen, concludes you participating. today. our Thank for for that and Ladies conference

You may now disconnect.

Chindata (CD) 22 Nov 222022 Q3 Earnings call transcript