GDS-万国数据-SW(09698) - 2022 - 年度业绩

Financial Performance - In Q4 2022, net revenue increased by 9.9% to RMB 2,404.0 million (USD 348.6 million) compared to RMB 2,187.4 million in Q4 2021[4] - For the full year 2022, net revenue rose by 19.3% to RMB 9,325.6 million (USD 1,352.1 million) from RMB 7,818.7 million in 2021[5] - Adjusted EBITDA for Q4 2022 grew by 4.3% to RMB 1,071.5 million (USD 155.3 million), with an adjusted EBITDA margin of 44.6%[4] - The adjusted EBITDA for the full year 2022 increased by 14.8% to RMB 4,251.4 million (USD 616.4 million) compared to RMB 3,703.4 million in 2021[6] - Q4 2022 net loss was RMB 177.9 million ( $25.8 million), an improvement from a net loss of RMB 312.9 million in Q4 2021 and RMB 339.7 million in Q3 2022[12] - The company reported a net loss attributable to shareholders of RMB 340,016 thousand for the quarter ended December 31, 2022, compared to RMB 315,888 thousand in the same quarter of 2021[34] - The net loss for the year ended December 31, 2022, was RMB (177,895) thousand, compared to RMB (339,663) thousand for the same period in 2021, representing a decrease of approximately 48%[35] Revenue Breakdown - Service revenue for Q4 2022 was RMB 2,404.0 million ($ 348.6 million), up 10.0% year-over-year and up 1.5% quarter-over-quarter[9] - The service revenue for 2022 was RMB 9,317.9 million (USD 1,351.0 million), up 19.2% from RMB 7,814.4 million in 2021[15] - Total revenue for the year ended December 31, 2022, was RMB 9,325,631 thousand, up from RMB 7,818,681 thousand in 2021, representing a growth of approximately 19.3%[32] Operational Metrics - The total area signed and pre-signed by customers increased by 12,347 square meters in Q4 2022, reaching 630,716 square meters, a year-on-year increase of 13.3%[7] - The operational area increased by 5,276 square meters in Q4 2022, totaling 515,787 square meters, reflecting a year-on-year growth of 5.7%[7] - The construction area as of December 31, 2022, was 192,713 square meters, with a pre-signing rate of 71.5%[7] - The total area of signed and pre-signed contracts at the end of Q4 2022 was 630,716 square meters, a year-over-year increase of 13.3%[17] - The operational area at the end of Q4 2022 was 515,787 square meters, up 5.7% year-over-year[18] - The construction area at the end of Q4 2022 was 192,713 square meters, representing a year-over-year increase of 19.3%[19] Cost and Expenses - The cost of sales in 2022 was RMB 7,389.8 million (USD 1,071.4 million), representing a 22.4% increase from RMB 6,039.3 million in 2021[15] - Operating expenses for the year ended December 31, 2022, totaled RMB 1,185,080 thousand, compared to RMB 1,021,950 thousand in 2021, indicating an increase of about 16.0%[32] - Interest expense for Q4 2022 was RMB 476.8 million ( $69.1 million), a 7.7% increase from Q4 2021 and a 7.3% increase from Q3 2022[12] - The company reported interest expenses of RMB 476,780 thousand for the year ended December 31, 2022[38] Cash and Debt Position - As of December 31, 2022, cash totaled RMB 8,608.1 million (USD 1,248.1 million), while total short-term debt was RMB 6,161.7 million (USD 893.4 million)[20] - The company’s short-term borrowings as of December 31, 2022, were RMB 3,623,967 thousand, a decrease from RMB 5,948,013 thousand in 2021, reflecting a reduction of approximately 39%[31] - The company reported a net cash inflow from financing activities of RMB 4,118,458 thousand for the year ended December 31, 2022[35] - The company experienced a significant increase in operating cash flow, with a net cash provided by operating activities of RMB 1,201,363 thousand for the year ended December 31, 2022[35] Future Outlook - The company expects total revenue for 2023 to be between RMB 9,940 million and RMB 10,320 million, reflecting a year-over-year growth of approximately 6.6% to 10.7%[21] - The company anticipates capital expenditures of approximately RMB 7,500 million for the full year of 2023[21] - The company expects continued growth in the high-performance data center market, driven by increasing demand for cloud computing services in China[30] - Future guidance indicates a cautious outlook due to potential market volatility and regulatory changes impacting operations in China[30] Strategic Initiatives - The company plans to continue expanding internationally while maintaining a strong position in China, as stated by the CEO[7] - The company is focusing on strategic acquisitions and investments to enhance its market position and operational capabilities[30] Financial Metrics and Adjustments - The company utilizes adjusted EBITDA, adjusted EBITDA margin, adjusted gross profit, and adjusted gross margin as key performance indicators to assess operational performance and set business targets[23] - The company emphasizes that adjusted financial metrics are often used by analysts and investors to evaluate financial performance within the industry[24] - The adjusted financial metrics do not replace GAAP measures such as gross profit, net profit (loss), or cash flow from operating activities, and should be considered alongside these measures[25] - Preliminary unaudited financial data may undergo adjustments during the year-end audit, potentially leading to significant differences from the initial figures[27] Asset and Liability Overview - Total assets as of December 31, 2022, amounted to RMB 74,813,954 thousand, an increase from RMB 71,632,443 thousand in 2021, reflecting a growth of approximately 4.5%[31] - Total liabilities as of December 31, 2022, were RMB 50,629,299 thousand, up from RMB 45,736,281 thousand in 2021, representing an increase of approximately 10.4%[31] - The company's total equity as of December 31, 2022, was RMB 23,137,643 thousand, a slight increase from RMB 24,533,009 thousand in 2021, showing a decrease of about 5.7%[31] Research and Development - R&D expenses in Q4 2022 were RMB 10.0 million ($ 1.4 million), down from RMB 12.4 million in Q4 2021 and RMB 6.7 million in Q3 2022[11] - Research and development expenses for the quarter ended December 31, 2022, were RMB 9,986 thousand, compared to RMB 12,422 thousand in the same quarter of 2021, showing a decrease of approximately 19.6%[32]