Chindata Group records sixth consecutive quarter of positive adjusted net income in Q4, totaling adjusted net Income of RMB174.9 million in 2020

Chindata Group (Nasdaq: CD), a leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2020. Due to the competitiveness of its business model, the Company has maintained strong profitability and efficient fund utilization. According to its financial results for the 2020 fourth quarter, Chindata Group recorded its sixth consecutive quarter of positive adjusted net income and the total adjusted net income was RMB174.9 million (US$26.8 million) in 2020.

According to its financial results, the Company posted Q4 revenues of RMB553.0 million (US$84.7 million), up 59.2% in the same period of 2019 and adjusted EBITDA of RMB239.4 million (US$36.7 million), up 72%.

Its full-year total revenues increased by 114.7% year-on-year to RMB1, 831.1 million (US$280.6 million) and its full-year adjusted EBITDA increased by 186.4% year-on-year to RMB852.2 million (USD130.6 million).

Chindata Group continues to expand its advantage in hyperscale data centers. As of December 31, 2020, its total IT capacity in service grew to 291MW, with an increase of 43 IT MW quarter over quarter. 92% of this capacity are contracted or having received IOI order. Totally, Chindata Group had 198 IT MW capacity under construction.

During the reporting period, Chindata Group has further expanded its customer diversification. The Company received over 45 IT MW of newly contracted and indication of interest ("IOI") orders from top global cloud companies in the fourth quarter of 2020. Meanwhile, as Chindata Group secured over 40 IT MW of IOI orders for its Southeast Asia facilities from anchor tenants in the fourth quarter of 2020, the Company has gained strategic advantage in Asia-Pacific by further validating its next-generation hyperscale model in emerging markets.

Mr. Jing JU, Chief Executive Officer of Chindata Group, commented, "Extending our three core corporate capabilities, we established three subgroups, namely Chindustry, Chinpower, and Chinidea in the fourth quarter of 2020. We expect this move to further strengthen Chindata's cost and technical advantages, while allowing us to better serve digital leaders and provide the industry with next-generation computing infrastructure solutions with greater diversification and of better cost-efficiency."