Chindata Group (CD) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 26, 2022 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 and welcome to Chindata Group Holdings Limited First Quarter 2022 Earnings Conference Call. We will be hosting our Questions and Answers: after management's prepared remarks. Please note, today's event is being recorded.

I'd 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. Welcome to Chindata Group’s 2022 first quarter earnings conference call. This is Don from Investor Relations Team of the company. With us today are Mr. Huapeng Wu, our CEO; Mr. Nick Wang, our CFO; and Ms. Zoe Zhuang, our Finance VP.

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'll 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 investors.chindatagroup.com. We have also updated our quarterly presentation on the company's Investor Relations website, which you can refer to as a 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 thank you for joining the call. Despite the headwinds in micro environment and COVID related issues, we continue to manage the challenges and grow our business. Our business momentum remained very strong in the first quarter. And here are the highlights to begin with.

On Slide 4, by end of the first quarter of 2022, our total capacity reached 704 megawatts, an increase of 31 megawatts during the quarter. We put one new project under construction, bringing our total number of data centers up to 28. Specifically, in the first quarter, our in-service capacity increased by 58 megawatts to 498 megawatts. Our contracted capacity increased by 54 megawatts, bringing our total contracted and IOI capacity to 690 megawatts. And our utilized capacity increased by 40 megawatts to 344 megawatts.