Chindata Group (CD) Q4 2022 Earnings Call Transcript

For the period ending December 31, 2022

March 15, 2023 7:00 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 Fourth Quarter and Full Year 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'll now turn the call over to first speaker today, Mr. Don Zhou from Investor Relations of Chindata Group. Please go ahead, Don.

Don Zhang

Well, thank you, operator. Thank you, everyone, for waiting. Welcome to Chindata Group's Fourth Quarter and Full Year 2022 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; Ms. Zoe Zhuang, our Senior Vice President, Finance; and Ms. Joy Zhang, our Vice President, Legal & Investments.

During this call, Nick will take you through the quarterly review of our operational performance and Zoe we 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 investors.chindatagroup.com. We have also updated our quarterly presentation on the company's Investor Relations website, which you can refer to as an important supplementary material of today's call.

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

Nick Wang

Thank you, Don, and good evening, everyone. Now let's start with some key highlights of the fourth quarter and full year 2022 performance. On Slide 4, we added 1 new project on an additional 50 megawatts new capacity in the fourth quarter, bringing our total capacity to 871 megawatts and a total number of data centers to 32.

We put two hyperscale data centers into service in Malaysia, bringing our total in-service capacity to 613 megawatts, an increase of 34 megawatts during the quarter. Demand and ramp-up remains strong and healthy. We received an additional client commitment of 100 megawatts in the fourth quarter, bringing our total contracted and IOI capacity to 800 megawatts, leading to a client commitment rate of our total capacity at 92%.