Chindata Group Holdings Limited (NASDAQ:CD) Q2 2023 Earnings Conference Call August 31, 2023 8:00 AM ET

Company Participants

Don Zhou - Investor Relations

Nick Wang - Chief Financial Officer

Zoe Zhuang - Senior Vice President, Finance

Conference Call Participants

Yang Liu - Morgan Stanley

Sara Wang - UBS

Mingran Li - CICC

Operator

Good morning and good evening, ladies and gentlemen. Thank you for joining, and welcome to Chindata Group Holdings Limited Second Quarter 2023 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 your first speaker today, Mr. Don Zhou from Investor Relations of Chindata Group. Please go ahead, Don.

Don Zhou

Thank you, Amber. Hello, everyone, and welcome to Chindata Group's 2023 second 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. And 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 you can refer to as 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.

Concurrently with the ongoing progress of privatization of the company, the management and the entire team continued to work diligently on our business, delivering another strong quarterly performance in the second quarter of this year.

As a quick summary for our quarterly performance, we adhered to our demanding schedule and delivery was on time. Demand from our existing clients remained satisfied with demand in Southeast Asia market being a key driver during the second quarter. Ramp up was usual as always with overall and single project level utilization ratio in good shape. And we continued to build our partnership and invested in research and development to prepare ourselves for further AIGC era, and patiently waiting for any signals of recovery of the market.