Gds Holdings Ltd. · HKEX:9698
Gds — FY2022 Earnings Presentation
68 slides from Gds's earnings presentation, Mar 15, 2023
Slide 1: 4Q22 & FY22 Earnings Call
4Q22 & FY22 Earnings Call 15 March 2023 NASDAQ: GDS HKEX: 9698 © GDS 2016 0
Slide 2: Disclaimer
DISCLAIMER This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such a
Slide 3: Business Strategy & Performance Highlights
Business Strategy & Performance Highlights William Huang, Chairman & CEO © GDS 2016
Slide 4: FY22 Highlights
FY22 HIGHLIGHTS (1)(2) Customer Commitments • New customer commitments (net) of +73,894 sqm or +178 MW • Total area committed increased by 13.3% y/y to 630,716 sqm or 1,413 MW Customer Move-In • Net additional area utilized of +51,073 sqm • Total area utilized of 370,547 sqm, +16.0% y/y, and utiliza
Slide 5: 4Q22 Highlights
4Q22 HIGHLIGHTS (1)(2) Customer Commitments • New customer commitments (net) of +12,347 sqm or +26.9 MW • Total area committed increased by 13.3% y/y to 630,716 sqm or 1,413 MW Customer Move-In • Net additional area utilized of +10,685 sqm • Total area utilized of 370,547 sqm, +16.0% y/y, and utiliz
Slide 6: Net Additional Area Committed
Net Additional Area Committed By Quarter (Sqm) By Year (Sqm) (1) (1) Organic - Mainland China Organic - International Organic - Mainland China Organic - International (2) (2) (3) B-O-T Acquisition (3) B-O-T Acquisition 30,315 161,558 27,911 23,538 118,722 3,440 38,006 923 18,188 92,800 22,864 222 27
Slide 7: Net Additional IT Power Committed (Organic Only)
Net Additional IT Power Committed (Organic Only) By Quarter (MW) By Year (MW) Organic - Mainland China Organic - International Organic - Mainland China Organic - International 74.5 233.2 7.9 195.8 177.7 46.8 142.3 146.7 42.5 69.7 65.7 33.8 225.2 4.0 26.9 195.8 46.8 142.3 146.7 42.5 108.0 29.8 26.9 8
Slide 8: Evolving Demand Profile
Evolving Demand Profile Largest Hyperscale Orders For 4Q22 Net Additional Area Committed By Customer Segment Cloud Service Provider Large Internet FSI & Large Enterprise 9,034 sqm / 20.0 MW order from existing large internet customer 1.4% 20.7% 19.5% for LF15 at new 23.1% campus in Langfang, Hebei 2
Slide 9: Net Additional Area Utilized
Net Additional Area Utilized By Quarter (Sqm) By Year (Sqm) 84,744 78,709 19,147 14,184 13,659 51,073 12,545 46,614 47,696 10,685 4Q21 1Q22 2Q22 3Q22 4Q22 FY18 FY19 FY20 FY21 FY22 © GDS 2016 8
Slide 10: Total Area Utilized & Utilization Rate
Total Area Utilized & Utilization Rate By Quarter (Sqm) By Year (Sqm) 70.5% 71.8% 71.8% 67.4% 68.5% 70.3% 65.5% 67.6% 67.9% 65.5% 359,862 370,547 345,678 370,547 332,019 319,475 319,475 234,731 156,022 108,326 4Q21 1Q22 2Q22 3Q22 4Q22 FY18 FY19 FY20 FY21 FY22 © GDS 2016 9
Slide 11: Backlog (Committed But Not Yet Utilized)
Backlog (Committed But Not Yet Utilized) Backlog For Area In Service (Sqm) Backlog For Area Under Construction (Sqm) Mainland China International Mainland China International 138,364 137,884 122,285 122,306 111 31,271 98,983 81,063 3,162 64,939 55,582 138,364 122,174 122,306 43,836 106,613 95,821 81
Slide 12: Capacity Expansion
Capacity Expansion Net Additional Area In Service By Year (Sqm) Delivery Schedule For Current Projects (Sqm) Mainland China International Mainland China International 154,030 72,308 923 FY23: 57,866 62,540 15,937 104,002 49,418 69,495 21,700 153,107 59,098 62,540 56,372 104,002 27,904 69,495 59,098
Slide 13: Area In Service & Commitment Rate
Area In Service & Commitment Rate By Quarter (Sqm) By Year (Sqm) 93.8% 95.3% 95.9% 95.6% 95.5% 94.9% 95.5% 94.6% 93.8% 92.1% 510,511 515,787 515,787 487,883 492,344 504,383 487,883 1,145 1,303 1,145 923 1,303 1,303 923 333,853 229,851 514,642 491,041 503,080 509,208 514,642 486,960 486,960 160,356 3
Slide 14: Area Under Construction & Pre-Commitment Rate
Area Under Construction & Pre-Commitment Rate By Quarter (Sqm) By Year (Sqm) 71.5% 71.5% 77.4% 61.3% 63.1% 64.1% 66.5% 71.5% 61.3% 48.4% 192,713 182,355 192,713 168,128 163,102 161,515 40,434 14,501 40,434 158,035 161,515 40,434 14,501 14,501 7,061 14,501 97,610 7,061 147,014 153,627 148,601 141,921
Slide 15: Area Held for Future Development
Area Held for Future Development 304,801 Sqm Across Key Locations In Mainland China Ulanqab: 25,168 sqm Ulanqab Beijing Langfang (1) Beijing – Tianjin – Hebei: 27,966 sqm Wuhan: 4,200 sqm Changshu Taicang Chengdu Wuhan Yangtze River Delta: 115,262 sqm Chengdu – Chongqing: 38,005 sqm Liangjiang Pujia
Slide 16: Strategic Priorities For Mainland China
Strategic Priorities For Mainland China For 2023 1 Selectively win new business with long term strategic customers 2 Focus on customer move-in and achieving higher utilization rates 3 Accelerate the delivery of the existing backlog 4 Tightly control capex in synch with customer move-in pace 5 Remain
Slide 17: Top Global Data Center Markets
Top 10 Global Data Center Markets Operational IT Power Capacity (MW) Northern Virginia 1,764 1,376 3,140 Tokyo 846 496 1,342 London 757 541 1,298 Frankfurt 540 469 1,009 Sydney 438 570 1,008 Amsterdam 568 269 838 Singapore 584 209 793 Dallas, Fort Worth 546 171 717 Capacity At End 2021 Hong Kong 433
Slide 18: Snapshot Of Current Projects – Greater China Hub
Snapshot Of Current Projects – Greater China Hub Continuous Development Pipeline Clustered In West Kowloon § Unique portfolio of purpose built data centers to service hyperscale and enterprise § Delivering nearly 80 MW of IT power capacity during 2022–2028 § Anchor customer commitment of 18.1MW for
Slide 19: Snapshot Of Current Projects – South East Asia Hub
Snapshot Of Current Projects – South East Asia Hub Early Mover To Capture Regional Demand In “S – J – B” § 2 multi-phase projects located adjacent to Singapore in Johor and Batam § Delivering 338 MW of IT power capacity from 2023 onwards § Anchor customer commitments of 64MW for Nusajaya Tech Park S
Slide 20: Pre-Fab Products For International Projects
Pre-Fab Products For International Projects Pre-Fab Modules Delivered To Johor Site © GDS 2016 19
Slide 21: Strategic Priorities For International
Strategic Priorities For International For 2023 1 Win anchor commitments for Batam and follow-on orders for Johor 2 Diversify customer base to include landmark global customers 3 Explore opportunities in Jakarta, Kuala Lumpur, and other overseas markets 4 Build up management team and successfully de
Slide 22: Financial & Operating Review
Financial & Operating Review Dan Newman, CFO © GDS 2016
Slide 23: 4Q22 & FY22 P&L Analysis
4Q22 & FY22 P&L Analysis Quarterly Financial Review Rmb‘000 (Unless Indicated) 4Q21 3Q22 4Q22 Y/Y Q/Q FY21 FY22 Y/Y Service Revenue 2,185,857 2,367,593 2,404,034 10.0% 1.5% 7,814,404 9,317,891 19.2% Equipment Sales 1,520 0 0 (100.0%) - 4,277 7,740 81.0% Total Net Revenue 2,187,377 2,367,593 2,404,03
Slide 24: 4Q22 & FY22 Underlying Trends
4Q22 & FY22 Underlying Trends Quarterly Financial Review Rmb‘000 (Unless Indicated) 4Q21 3Q22 4Q22 Y/Y Q/Q FY21 FY22 Y/Y Total Net Revenue 2,187,377 2,367,593 2,404,034 9.9% 1.5% 7,818,681 9,325,631 19.3% Less: Equipment Sales 1,520 0 0 (100.0%) - 4,277 7,740 81.0% Service Revenue 2,185,857 2,367,59
Slide 25: Revenue & Area Utilized By Quarter
Revenue & Area Utilized By Quarter Total Revenue (Rmb Mn) Net Additional Area Utilized (Sqm) & MSR Organic - Mainland China Organic - International (1) B-O-T Acquisition 2,367.6 2,404.0 2,310.4 2,187.4 2,243.6 19,147 3 ,5 0 5 13,659 14,184 923 12,545 10,685 5 ,3 6 1 5 ,0 8 9 8 ,7 8 0 2 ,7 3 6 1 4 ,7
Slide 26: Revenue & Area Utilized By Year
Revenue & Area Utilized By Year Total Revenue (Rmb Mn) Net Additional Area Utilized (Sqm) & MSR Organic - Mainland China Organic - International (1) B-O-T Acquisition 9,325.6 78,709 84,744 7,818.7 1 5 ,2 3 6 1 6 ,8 5 5 47,696 8,867 51,073 46,614 12,386 923 5 ,3 0 2 7 ,8 1 9 4,099 21,966 9,193 5 8 ,0
Slide 27: Underlying Adjusted GP & EBITDA By Quarter
Underlying Adjusted GP & EBITDA By Quarter Underlying Adjusted GP (Rmb Mn) & Margin Underlying Adjusted EBITDA (Rmb Mn) & Margin 52.5% 52.4% 50.9% 50.7% 50.9% 47.2% 47.1% 46.0% 45.1% 44.4% 1,224.7 1,148.2 1,174.6 1,171.9 1,201.3 1,058.2 1,068.9 1,066.8 1,031.1 1,055.9 4Q21 1Q22 2Q22 3Q22 4Q22 4Q21 1
Slide 28: Underlying Adjusted GP & EBITDA By Year
Underlying Adjusted GP & EBITDA By Year Underlying Adjusted GP (Rmb Mn) & Margin Underlying Adjusted EBITDA (Rmb Mn) & Margin 47.7% 52.8% 53.7% 53.3% 51.2% 37.0% 44.7% 47.2% 47.5% 45.6% 4,249.7 4,772.6 3,710.3 4,165.7 2,700.3 3,070.4 2,161.9 1,828.4 1,317.2 1,020.9 FY18 FY19 FY20 FY21 FY22 FY18 FY19
Slide 29: Capex Paid
Capex Paid (1) Past 5 Quarters (Rmb Mn) Past 5 Years (Rmb Mn) (2) Mainland China Acquisition International Rmb Mn 4Q21 1Q22 2Q22 3Q22 4Q22 13,691.5 Mainland China (2) 2,169.4 1,512.7 1,194.7 1,558.5 1,557.0 996.3 11,274.9 3,992.4 9,378.0 1,980.8 Acquisition 415.7 2,770.3 328.0 377.2 (4.3) 143.8 1,35
Slide 30: On-Going Projects
On-Going Projects Mainland China International (1) n Total cost to complete: Rmb 7.4 bn n Projects included: HK1, HK2, NTP1/2/3 n Replacement capex (p.a.): ~Rmb 200 mn n Total cost to date: Rmb 4.1 bn n Potential 71% increase in utilizable capacity n Total cost to complete: Rmb 3.4 bn Area Under Are
Slide 31: Financing Obligations & Liquidity
Financing Obligations & Liquidity Debt & Cash Outstanding Highlights 31/12/21 30/09/22 31/12/22 Rmb Mn Rmb Mn Rmb Mn / LQA Adjusted n Net debt / LQA Adjusted EBITDA To ta l L o a n 24,232.5 25,579.0 27,142.0 EBITDA 6.3 excluding International: 7.1x C o n v e rtib le B o n d 1,895.8 6,500.8 6,378.8 1
Slide 32: Loan Maturity Schedule
Loan Maturity Schedule At 31/12/2022 (Rmb Mn) Pro Forma (2) (Rmb Mn) Working Capital Project Loan Convertible Bond (1) Working Capital Project Loan Convertible Bond 6,304 6,304 5,747 5,785 4,250 4,250 2,089 4,318 3,506 3,256 4,318 3,475 3,506 3,256 4,000 3,475 2,697 2,687 2,623 2,697 2,687 2,270 4,2
Slide 33: Funding Requirements & Options For 2023
Funding Requirements & Options For 2023 Mainland China (Rmb) International (Rmb) Operating Cashflow 1.3 bn Operating Cashflow (0.3 bn) Investment Cashflow (3.5 bn) Investment Cashflow (4.0 bn) Free Cashflow Before Financing (2.2 bn) Free Cashflow Before Financing (4.3 bn) n Project level debt financ
Slide 34: Business Outlook
Business Outlook FY23 Guidance Rmb Mn FY22 Actual FY23 Guidance Implied Y/Y Total Revenue 9,325.6 9,940 – 10,320 +6.6% – 10.7% Adjusted EBITDA 4,251.4 4,430 – 4,600 +4.2% – 8.2% Capex (1) 11,274.9 ~7,500 -33.5% Notes: 1. Refers to net cash used in investing activities, including premium paid for acq
Slide 35: Questions & Answers
Questions & Answers www.gds-services.com ir@gds-services.com © GDS 2016
Slide 36: Appendix
Appendix © GDS 2016
Slide 37: Hong Kong 1
Hong Kong 1 Location #2-16 Lam Tin Street, Kwai Chung Status Under Construction Property Tenure Owned Property Type Brownfield Ready for Service 2023 Development Period 2019 - 2023 Land Area 1,858 sqm Gross Floor Area 22,931 sqm Net Floor Area 7,061 sqm Number of Floors 21 Design PUE 1.4x IT Power 1
Slide 38: Hong Kong 2
Hong Kong 2 Location #2-10 Tai Yuen Street, Kwai Chung Status Under Construction Property Tenure Owned Property Type Brownfield Ready for Service 2024 Development Period 2021 - 2024 Land Area 1,864 sqm Gross Floor Area 21,820 sqm Net Floor Area 7,440 sqm Number of Floors 20 Design PUE 1.4x IT Power
Slide 39: Hong Kong 3
Hong Kong 3 Location #23-33 Chai Wan Kok Street, Tsuen Wan Status Held For Future Development (1) Property Tenure 30 Year Build-To-Suit Lease Property Type Brownfield Ready for Service 2026 Development Period 2026 Land Area 2,328 sqm Gross Floor Area 22,033 sqm Net Floor Area 7,265 sqm Number of Flo
Slide 40: Hong Kong 4
Hong Kong 4 Location #57-61 Ta Chuen Ping Street, Kwai Chung Status Held For Future Development (1) Property Tenure 30 Year Build-To-Suit Lease Property Type Brownfield Ready for Service 2028 Development Period 2028 Land Area 2,261 sqm Gross Floor Area 25,770 sqm Net Floor Area 7,217 sqm Number of F
Slide 41: Nusajaya Tech Park Site 1 (NTP1/2/3)
Nusajaya Tech Park Site 1 (NTP1/2/3) Location Lot PTD 5224, Nusajaya, Johor, Malaysia Status Under Construction Property Tenure Owned Property Type Greenfield Ready for Service 2023-2024 Development Period 2022-2024 Land Area 50,586 sqm Gross Floor Area 77,339 sqm Net Floor Area 25,933 sqm Number of
Slide 42: Nusajaya Tech Park Site 1, 2, 3 & 4
Nusajaya Tech Park Site 1, 2, 3 & 4 Nusajaya Tech Park Layout Site 1 Site 2 Site 3 Site 4 Site 1 • 12.5 acres Site 2 Location Nusajaya, Johor, Malaysia • RFS 3Q23 • 10.2 acres • IT power 64 MW • RFS by 2024 Land • IT power 42 MW Land Acquired / Option for land Acquisition in Status Under Land Acquir
Slide 43: Nongsa Digital Park Site 1 & 2
Nongsa Digital Park Site 1 & 2 Site 1 Site 2 Location Jl. Teluk Mata Ikan, Batam, Indonesia Land acquisition in Status Land acquired Process (LOO signed) Property Tenure Owned Owned Property Type Greenfield Greenfield Ready for Service 2024-2026 2028-2032 Development Period 2023-2026 2026-2032 Land
Slide 44: Our Data Center Portfolio – Beijing & Shanghai Markets
Our Data Center Portfolio – Beijing & Shanghai Markets Self-Developed Data Centers In Service & Under Construction In Tier 1 Markets (4Q22) Beijing – Tianjin – Hebei: 43 DCs (1) Yangtze River Delta: 31 DCs (1) BJ5/10/11/12/15/16/20/21/22/23 CS1/2/3 SH1/2/3/4/6/7/8/9/ BJ4/6 10/11/12/14/15/19 BJ13/14
Slide 45: Our Data Center Portfolio – Greater Bay Area & Chengdu / Chongqing
Our Data Center Portfolio – Greater Bay Area & Chengdu / Chongqing Self-Developed Data Centers In Service & Under Construction In Tier 1 Markets (4Q22) Greater Bay Area: 17 DCs (1) Chengdu – Chongqing: 3 DCs (1) SZ5 SZ8 GZ1/2/3/6 SZ4 HZ1 GZ4 SZ6/9/10 SZ11 SZ1/2/3 CD1/2 CQ1 Notes: 1. Excludes Hong Ko
Slide 46: Our Data Center Portfolio – International
Our Data Center Portfolio – International Self-Developed Data Centers In Service & Under Construction in Hong Kong & South East Asia (4Q22) Hong Kong – 2 DCs South East Asia – 3 DCs NTP1/2/3 HK1/2 © GDS 2016 45
Slide 47: Key Operating KPIs
Key Operating KPIs Past 8 Quarters As At 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 Area In Service (Sqm) 360,542 426,543 454,354 487,883 492,344 504,383 510,511 515,787 Area Under Construction (Sqm) 170,149 165,175 157,227 161,515 168,128 163,102 182,355 192,713 Total Capacity (Sqm) 530,691 591,718 61
Slide 48: Data Center Summary By Market
Data Center Summary By Market At 31/12/22 (Sqm, Unless Indicated) (1) # of Self- Area Held for Pre- Area In Area Under Area Area Pre- Total Area Commitment Utilization Developed Total Capacity Future Area Utilized Commitment Market Service Construction Committed Committed Committed Rate Rate Data De
Slide 49: Self-Developed Data Centers In Service – Beijing / Tianjin / Hebei
Self-Developed Data Centers In Service – Beijing / Tianjin / Hebei At 31/12/22 (Sqm, Unless Indicated) Data Center Ready For Service Type Tenure Area In Service Area Committed Commitment Rate Area Utilized Utilization Rate BJ1 2H15 Convert Lease 2,435 2,427 99.7% 2,368 97.3% BJ2 2H17 Convert Lease 5
Slide 50: Self-Developed Data Centers In Service – Yangtze River Delta
Self-Developed Data Centers In Service – Yangtze River Delta At 31/12/22 (Sqm, Unless Indicated) Data Center Ready For Service Type Tenure Area In Service Area Committed Commitment Rate Area Utilized Utilization Rate SH1 2H11 Purpose-Built Lease 6,432 6,080 94.5% 5,875 91.3% SH2 2H15 Purpose-Built L
Slide 51: Self-Developed Data Centers In Service – Greater Bay Area
Self-Developed Data Centers In Service – Greater Bay Area At 31/12/22 (Sqm, Unless Indicated) Ready For Data Center Type Tenure Area In Service Area Committed Commitment Rate Area Utilized Utilization Rate Service SZ1 2H14 Convert Lease 4,286 4,273 99.7% 4,261 99.4% SZ2 1H16 Convert Lease 4,308 4,30
Slide 52: Self-Developed Data Centers In Service – Chengdu / Chongqing & Other
Self-Developed Data Centers In Service – Chengdu / Chongqing & Other At 31/12/22 (Sqm, Unless Indicated) Ready For Area Commitment Market Data Center Type Tenure Area In Service Area Utilized Utilization Rate Service Committed Rate CD1 1H17 Purpose-Built Own 6,262 5,958 95.1% 4,039 64.5% Chengdu – 8
Slide 53: Self-Developed Data Centers Under Construction
Self-Developed Data Centers Under Construction At 31/12/22 (Sqm, Unless Indicated) Area Under Market Data Center Ready For Service Type Tenure Area Pre-Committed Pre-Commitment Rate Construction BJ13 Phase 2 2024 Purpose-Built Own 8,404 8,404 100% BJ14 Phase 1 2024 Purpose-Built Own 8,140 8,140 100%
Slide 54: Forming Consolidated JVs For Selected B-O-T Projects
Forming Consolidated JVs For Selected B-O-T Projects B-O-T Data Centers At 4Q22 Market Data Center RFS Status GDS Ownership Net Floor Area Utilization Rate ZB1 1H18 In Service 100% 5,132 94.9% ZB2 2H18 In Service 100% 4,662 94.5% ZB3 2H18 In Service 100% 4,662 94.6% Beijing – Tianjin – Hebei ZB4 1H2
Slide 55: Self-Developed Data Center Capacity – Lease Vs. Own
Self-Developed Data Center Capacity – Lease Vs. Own At 31/12/22 Held For Future Total Developed & Sqm Area In Service Area Under Construction Development Developable Capacity Lease 303,413 44,354 20,662 368,429 Own 135,901 144,919 308,621 589,441 B-O-T 68,910 3,440 - 72,350 3 rd Party 7,563 - - 7,56
Slide 56: Stabilized Vs. Ramping-Up Data Centers
Stabilized Vs. Ramping-Up Data Centers Breakdown Of Area In Service At 4Q22 Stabilized Data Centers Ramping-Up Data Centers SH1 Area In Service (Sqm) 6,432 Commitment Rate 94.5% Utilization Rate 91.3% Area In Service Area In Service (Sqm) Commitment Rate Utilization Rate SH2 7,712 99.9% 94.2% SH6 7,
Slide 57: Customer Franchise Development
Customer Franchise Development Total Area Committed By Segment (Sqm) (4Q22) Hyperscale Customer Additions (1) FSI & Large Enterprises 2011 – 2016 76,061 12.1% (2) 2017 2018 Large Internet 156,921 830 Customers 24.8% (3) +9.2% Y/Y 2019 397,733 63.1% 2020 Cloud Service Providers 2021 Notes: . 1. Exclu
Slide 58: Top 5 Customers
Top 5 Customers By Total Area Committed (1)(2) By Revenue (1) % Of Total Area Number of Data End User End User % Of 4Q22 Total Net Revenue Committed As At 4Q22 Centers (3) Customer 1 37.7% 47 Customer 1 24.8% Customer 2 14.6% 17 Customer 2 18.5% Customer 3 5.4% 7 Customer 3 5.9% Customer 4 5.1% 6 Cu
Slide 59: Forthcoming Contract Renewals
Forthcoming Contract Renewals Contract Renewal Schedule Period Sqm % of Total Area Committed FY23 64,023 10.2% FY24 70,874 11.2% FY25 61,470 9.7% FY26 57,866 9.2% FY27 67,584 10.7% Thereafter 308,898 49.0% Total Area Committed At 31/12/22 630,716 100% © GDS 2016 58
Slide 60: Principal Shareholders
Principal Shareholders At 31/12/22 Pro Forma Ordinary Shares (1) Equivalent ADS Equivalent ADS % of Total ADS Change (3) William Huang (2) 86,047,840 10,755,980 10,755,980 5.7% Directors & Officers (4) 6,057,356 757,169 757,169 0.4% STT GDC 477,288,484 59,661,060 59,661,060 31.7% Ping An 0 0 +4,213,
Slide 61: Working Capital Management
Working Capital Management Accounts Receivable Turnover Days (# Of Days) (1) Days Payable Outstanding (DPO) (2) # of Days 4Q21 1Q22 2Q22 3Q22 4Q22 FY21 FY22 101 97 95 81 80 DPO – Opex 88 83 83 82 84 83 86 74 74 DPO – Capex 136 271 191 237 164 152 195 Total DPO 124 197 154 172 132 135 153 Total DPO (
Slide 62: Historical Financial Results – Statements of Operations
Historical Financial Results Condensed Consolidated Statements Of Operations Amounts in thousands Three Months Ended Year Ended Dec 31, 2021 Mar 31, 2022 Jun 30, 2022 Sep 30, 2022 Dec 31, 2022 Dec 31, 2021 Dec 31, 2022 (1) (1) RMB RMB RMB RMB RMB USD RMB RMB USD Net Revenue Service revenue 2,185,857
Slide 63: Historical Financial Results – Balance Sheets
Historical Financial Results Condensed Consolidated Balance Sheets Amount in thousands. As of Dec 31, 2021 Mar 31, 2022 Jun 30, 2022 Sep 30, 2022 Dec 31, 2022 RMB RMB RMB RMB RMB USD ( 1 ) Cash 9,968,109 11,320,911 9,159,176 9,092,404 8,608,131 1,248,062 Accounts receivable, net of allowance for dou
Slide 64: Historical Financial Results – Cash Flows
Historical Financial Results Condensed Consolidated Statements of Cash Flows Amounts in thousands Three Months Ended Year Ended Dec 31, 2021 Mar 31, 2022 Jun 30, 2022 Sep 30, 2022 Dec 31, 2022 Dec 31, 2021 Dec 31, 2022 (1) (1) RMB RMB RMB RMB RMB USD RMB RMB USD Net cash provided by (used in) operat
Slide 65: Reconciliation from Gross Profit to Adjusted Gross Profit
Reconciliation from Gross Profit to Adjusted Gross Profit Adjusted Gross Profit Amounts in thousands Three Months Ended Year Ended Dec 31, 2021 Mar 31, 2022 Jun 30, 2022 Sep 30, 2022 Dec 31, 2022 Dec 31, 2021 Dec 31, 2022 RMB RMB RMB RMB RMB USD (1) RMB RMB USD (1) Gross profit 487,273 486,417 468,6
Slide 66: Reconciliation from Net Loss to Adjusted EBITDA
Reconciliation from Net Loss to Adjusted EBITDA Adjusted EBITDA Amounts in thousands Three Months Ended Year Ended Dec 31, 2021 Mar 31, 2022 Jun 30, 2022 Sep 30, 2022 Dec 31, 2022 Dec 31, 2021 Dec 31, 2022 RMB RMB RMB RMB RMB USD (1) RMB RMB USD (1) Net loss (312,882) (373,253) (375,307) (339,663) (
Slide 67: Definition Of KPIs
Definition Of KPIs Area In Service Entire net floor area of data centers (or phases of data centers) which are ready for service Entire net floor area of data centers (or phases of data centers) which are actively under construction and have not yet reached Area Under Construction the stage of being
Slide 68: Analyst Coverage
Analyst Coverage Broker Analyst Contact BofA Paul Dewberry paul.dewberry@baml.com BOCI Michael Meng michael.meng@bocigroup.com CICC Hongjie Li hongjie.li@cicc.com.cn Citi Andre Lin andre.lin@citi.com Citic Securities Junyun Chen chenjunyun@citics.com CMB International Securities Marley Ngan marleyng