Chindata Group (CD) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

May 31, 2023 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning, and good evening, ladies and gentlemen. Thank you for joining, and welcome to Chindata Group Holdings Limited First Quarter 2023 Earnings Conference Call. We'll be hosting a question-and-answer session after management's prepared remarks. Please note that today's event is being recorded.

I'll now turn the call over to the first speaker today, Mr. Don Zhou from Investor Relations of Chindata Group. Please go ahead, Don.

Don Zhou

Thank you, operator. Hello, everyone, and welcome to Chindata Group's 2023 first quarter earnings conference call. This is Don from Investor Relations team of the company. With us today are Mr. Nick Wang, our CFO, and Ms. Zoe Zhuang, our Senior Vice President, Finance. During this call, Nick will take you through the quarterly review of our operational performance and Zoe will present our financial results. Management team will be here to answer your questions afterwards.

Now, I will quickly go over the Safe Harbor. Some of the statements that we make today regarding our business, operations and financial performance may be considered forward-looking and such statements involve a number of risks and uncertainties that could cause actual results to differ materially. For more information, please refer to the risk factors discussed in our filings with the SEC.

During this call, we will present both GAAP and non-GAAP financial measures. A reconciliation of non-GAAP to GAAP measures is included in our earnings press release, which is distributed and available to the public through our Investor Relations website located at investor.chindatagroup.com. We have also updated our quarterly presentation on the company's Investor Relations website, which can be referred to as an important supplementary material for today's call.

Without further ado, I'll now turn over the call to Nick. Nick, please go ahead.

Nick Wang

Thank you, Don. Hello, everyone and thanks for joining the call. First, on behalf of our CEO, I would like to first address our attendees with the following opening remark. We started the year of 2023 with another strong quarterly business and financial performance. During the first quarter of 2023, the company continued to advance with our highly demanding project delivery schedule. Demand from existing clients remained healthy and ramp-up was as scheduled.

As a result, we continued to grow our top and bottom line with adjusted EBITDA beating the market consensus for 11 consecutive quarters. Notably, on the demand side, we hold a very positive view on healthy IDC related development such as machine learning, large language models, and AI generally should drive industry demand in the long term, while we have also noticed the recent effort of our existing clients in corroborating (ph) such new technology into their current product lines.