Financial Performance - In Q1 2023, GDS Holdings reported a net revenue of RMB 2,409.0 million (USD 350.8 million), representing a year-over-year increase of 7.4% from RMB 2,243.6 million in Q1 2022[5]. - Service revenue for Q1 2023 also increased by 7.4% year-over-year to RMB 2,408.4 million (USD 350.7 million) compared to RMB 2,243.5 million in Q1 2022[5]. - The adjusted EBITDA for Q1 2023 grew by 7.5% year-over-year to RMB 1,130.0 million (USD 164.5 million), maintaining an adjusted EBITDA margin of 46.9%[5][6]. - The net loss for Q1 2023 was RMB 474.6 million (USD 69.1 million), compared to a net loss of RMB 373.3 million in Q1 2022 and RMB 177.9 million in Q4 2022[12]. - The gross profit for Q1 2023 was RMB 491.7 million (USD 71.6 million), up 1.1% from Q1 2022 and up 0.7% from Q4 2022[9]. - The adjusted gross profit for Q1 2023 was RMB 1,259.4 million (USD 183.4 million), a 7.2% increase year-over-year and a 2.8% increase quarter-over-quarter[9]. - The interest expense for Q1 2023 was RMB 484.4 million (USD 70.5 million), a 6.8% increase year-over-year and a 1.6% increase quarter-over-quarter[11]. - The company confirmed its revenue guidance for 2023 to be between RMB 9,940 million and RMB 10,320 million, with adjusted EBITDA expected to be between RMB 4,430 million and RMB 4,600 million[20]. Operational Metrics - The total contracted and pre-contracted area increased by 10.2% year-over-year to 633,611 square meters as of March 31, 2023[6]. - The operational area increased by 5.3% year-over-year to 518,517 square meters as of March 31, 2023[6]. - The utilization rate of the operational area was 72.6% as of March 31, 2023, compared to 67.4% a year earlier[7]. - The area under construction was 196,858 square meters, with a pre-contracted rate of 74.4% as of March 31, 2023, up from 63.1% a year earlier[7]. - The signed rate for operational area as of the end of Q1 2023 was 93.9%, compared to 95.3% at the end of Q1 2022 and 95.5% at the end of Q4 2022[16]. - The billing area as of the end of Q1 2023 was 376,632 square meters, reflecting a year-over-year increase of 13.4% and a quarter-over-quarter increase of 1.6%[17]. - The operational area billing rate as of the end of Q1 2023 was 72.6%, up from 67.4% at the end of Q1 2022 and 71.8% at the end of Q4 2022[17]. Cash and Debt Management - GDS Holdings successfully raised USD 580 million through the issuance of new convertible bonds to maintain a healthy cash position[6]. - As of March 31, 2023, cash amounted to RMB 10,241.3 million ($1,491.3 million), while total short-term debt was RMB 6,936.1 million ($1,010.0 million)[19]. - The company obtained new debt financing and refinancing credit of RMB 1,319.4 million ($192.1 million) during Q1 2023[19]. - The company completed the issuance of $580 million in 4.50% convertible senior notes due in 2030 on January 20, 2023[17]. - The company reported a significant increase in cash used in operating activities, amounting to RMB 907,903 thousand for the three months ended March 31, 2023, compared to RMB (244,730) thousand for the same period in 2022[34]. - The company reported a decrease in cash used in investing activities, amounting to RMB 2,193,358 thousand for the three months ended March 31, 2023, compared to RMB 4,932,024 thousand for the same period in 2022[34]. Customer and Market Outlook - GDS Holdings received positive customer feedback and anticipates a recovery in business performance in the near future[7]. - The company aims to accelerate the delivery of outstanding orders and capture strategically significant new business opportunities amid ongoing macro challenges[7]. - GDS's future outlook includes expectations for growth in the high-performance data center market and related services in China[29]. - The company is focused on maintaining and increasing its revenue and business capabilities amidst industry competition and regulatory changes[29]. - GDS operates high-performance data centers strategically located in major economic centers, catering to the concentrated demand for such services[28]. - GDS has a customer base that includes major cloud service providers, large internet companies, financial institutions, telecom operators, IT service providers, and large domestic private enterprises[28]. - GDS is neutral to operators and cloud service providers, allowing customers access to major telecom networks and public cloud services hosted in its facilities[28]. Financial Position - As of March 31, 2023, the total assets of the company increased to RMB 78,133,872 thousand, up from RMB 74,813,954 thousand as of December 31, 2022, representing a growth of approximately 4.4%[31]. - The company's total liabilities rose to RMB 54,314,431 thousand as of March 31, 2023, compared to RMB 50,629,299 thousand at the end of 2022, indicating an increase of about 7.3%[31]. - The company’s total equity decreased to RMB 22,786,395 thousand as of March 31, 2023, from RMB 23,137,643 thousand as of December 31, 2022, reflecting a decline of approximately 1.5%[31]. - The company reported a significant increase in operating assets and liabilities, with a change of RMB 414,805 thousand for the three months ended March 31, 2023[34]. - The company reported a basic and diluted loss per share of RMB 0.33 for the three months ended March 31, 2023, compared to RMB 0.13 for the same period in 2022[32].
万国数据-SW(09698) - 2023 Q1 - 季度业绩