Chindata Group Q4 Net Income Rises

(RTTNews) - Chindata Group Holdings Limited (CD) reported that its fourth-quarter net income increased by 1.6% to RMB 116.5 million from RMB 114.7 million, a year ago. Earnings per share was RMB 0.16, flat with last year. Adjusted net income increased by 65.2% to RMB 236.2 million. Adjusted EBITDA increased by 78.4% to RMB 720.9 million.

Total revenues increased by 77.8% to RMB 1.39 billion, primarily driven by the robust growth of the colocation services.

For the full year of 2023, the company expects: revenues in a range of RMB 5.88 billion - RMB 6.08 billion. Adjusted EBITDA is projected in a range of RMB 3.00 billion - RMB 3.11 billion.

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