Financial Performance - For Q3 2022, GDS Holdings reported a net revenue of RMB 2,367.6 million (USD 332.8 million), representing a year-over-year increase of 14.9%[5] - The service revenue for Q3 2022 also increased by 14.9% to RMB 2,367.6 million (USD 332.8 million) compared to Q3 2021[8] - The adjusted EBITDA for Q3 2022 grew by 10.9% to RMB 1,066.6 million (USD 149.9 million), with an adjusted EBITDA margin of 45.0%[5] - The gross profit for Q3 2022 was RMB 492.8 million (USD 69.3 million), an increase of 8.2% compared to Q3 2021[9] - The gross profit margin for Q3 2022 was 20.8%, down from 22.1% in Q3 2021[9] - Net loss for Q3 2022 was RMB 339.7 million (USD 47.7 million), compared to a net loss of RMB 301.1 million in Q3 2021 and RMB 375.3 million in Q2 2022[11] - Total net revenue for the nine months ended September 30, 2022, was RMB 6,921,597 thousand, representing an increase from RMB 5,631,304 thousand for the same period in 2021, a growth of approximately 22.9%[32] - The net loss attributable to shareholders for the three months ended September 30, 2022, was RMB 340,016 thousand, compared to a net loss of RMB 375,357 thousand for the same period in 2021, a reduction of approximately 9.4%[34] - The total comprehensive loss for the three months ended September 30, 2022, was RMB 559,415 thousand, compared to RMB 517,594 thousand for the same period in 2021, indicating an increase of approximately 8.1%[34] Operational Metrics - The total area signed and pre-signed by customers increased by 30,315 square meters to 618,369 square meters, a year-over-year increase of 16.0%[6] - The operational area increased by 6,128 square meters to 510,511 square meters, reflecting a year-over-year growth of 12.4%[6] - The pre-signing rate for the area under construction reached 71.5%, up from 62.1% in the previous year[7] - The billing area increased by 14,184 square meters to 359,862 square meters, a year-over-year increase of 19.8%[7] - Total contracted and pre-contracted area at the end of Q3 2022 was 618,369 square meters, up 16.0% year-over-year and 5.2% quarter-over-quarter[14] - Operating area at the end of Q3 2022 was 510,511 square meters, a 12.4% increase year-over-year and a 1.2% increase quarter-over-quarter[15] - The company achieved a pre-contracted rate of 71.5% for the area under construction at the end of Q3 2022, compared to 62.1% in Q3 2021[15] Expenses and Financing - In Q3 2022, general and administrative expenses were RMB 125.4 million (USD 17.6 million), an increase of 21.9% year-over-year and 26.9% quarter-over-quarter[10] - R&D expenses in Q3 2022 were RMB 6.7 million (USD 0.9 million), down from RMB 9.0 million in Q3 2021 and RMB 9.4 million in Q2 2022[11] - GDS Holdings secured approximately RMB 3.6 billion in new project debt financing during Q3 2022[6] - The company incurred equity incentive expenses of RMB 71,119 thousand for the three months ended September 30, 2022, down from RMB 91,760 thousand in the same period of 2021, a decrease of 22.5%[38] - The company reported interest expenses of RMB 444,328 thousand for the three months ended September 30, 2022, compared to RMB 392,072 thousand for the same period in 2021, an increase of 13.3%[38] Cash and Assets - Cash as of September 30, 2022, was RMB 9,092.4 million (USD 1,278.2 million), with total short-term debt of RMB 5,557.3 million (USD 781.2 million)[19] - As of September 30, 2022, total assets amounted to RMB 71.63 billion, a decrease from RMB 74.88 billion as of December 31, 2021[31] - Cash reserves stood at RMB 9.97 billion, compared to RMB 9.09 billion in the previous year[31] - Total liabilities reached RMB 45.74 billion, down from RMB 50.66 billion as of December 31, 2021[31] - The company reported a total equity of RMB 24.53 billion, an increase from RMB 23.15 billion in the previous year[31] - The net value of property and equipment was RMB 40.62 billion, a decrease from RMB 45.87 billion[31] - The total current liabilities amounted to RMB 13.47 billion, an increase from RMB 11.29 billion[31] - The company’s goodwill and intangible assets net value was RMB 8.36 billion, slightly up from RMB 8.18 billion[31] - The total equity attributable to shareholders was RMB 24.47 billion, compared to RMB 23.05 billion in the previous year[31] Guidance and Future Outlook - The company confirmed its revised guidance for total revenue in 2022 to be between RMB 9,250 million and RMB 9,400 million, with adjusted EBITDA between RMB 4,200 million and RMB 4,280 million[20] - The company is focused on expanding its data center operations to meet broader client requirements beyond its primary locations[28] Performance Metrics and Adjustments - The company utilizes adjusted EBITDA, adjusted EBITDA margin, adjusted gross profit, and adjusted gross profit margin as key performance indicators to assess operational performance and set business goals[22] - The company emphasizes that adjusted non-GAAP financial metrics should not be solely relied upon for assessing operational performance, cash flows, or liquidity[24] - The preliminary unaudited financial data presented may undergo adjustments during the year-end audit, potentially leading to significant differences[27] Company Profile and Services - The company operates high-performance data centers strategically located in major economic centers in China, catering to the concentrated demand for such services[28] - The company has a 21-year track record in service delivery, successfully meeting the needs of some of China's largest and most demanding clients for data center outsourcing[28] - The company provides a range of value-added services, including managed network services and hybrid cloud services through direct private links to leading public clouds[28] - The company is neutral to operators and cloud service providers, allowing clients access to all major telecom networks in China[28]
万国数据-SW(09698) - 2022 Q3 - 季度财报