Chindata Group Holdings Ltd (NASDAQ:CD) delivers 132.2% rise in the adjusted net income

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Chindata Group Holdings Ltd (NASDAQ:CD) stock rose 2.11% (As on Nov 25, 4:25:13 AM UTC-4, Source: Google Finance) after the company in the third quarter of FY 21 has reported 132.2% rise in the adjusted net income RMB112.0 million (US$17.4 million), compared with RMB48.2 million in the same period 2020. Adjusted net income margin in the third quarter of 2021 was 15.1%, compared with 10.3% in the same period of 2020 and 16.5% in the second quarter of 2021. As of September 30, 2021, the Company had cash and cash equivalents and restricted cash of RMB6.1 billion (US$941.9 million), compared to cash and cash equivalents and restricted cash of RMB7.0 billion as of June 30, 2021. Adjusted EBITDA in the third quarter of 2021 increased by 61.6% to RMB368.4 million (US$57.2 million), from RMB228.0 million in the same period of 2020. Adjusted EBITDA margin in the third quarter of 2021 was 49.7%, compared with 48.8% in the same period of 2020 and 49.3% in the second quarter of 2021. As a result of the foregoing, operating income in the third quarter of 2021 was RMB184.4 million (US$28.6 million), compared with operating loss of RMB116.3 million in the same period of 2020. Operating income margin in the third quarter of 2021 was 24.9%, compared with -24.9% in the same period of 2020.

Moreover, the total revenues in the third quarter of 2021 increased by 58.5% to RMB740.8 million (US$115.0 million) from RMB467.5 million in the same period of 2020, mainly driven by the robust growth of the Company’s colocation services. Gross profit in the third quarter of 2021 increased by 67.0% to RMB317.9 million (US$49.3 million) from RMB190.3 million in the same period of 2020. Gross margin in the third quarter of 2021 was 42.9%, compared with 40.7% in the same period of 2020.

Meanwhile, during the third quarter, the Company continued its active exploration of ESG development, improved its alignment with international standards, and garnered additional public endorsement for its efforts.

For fiscal 2021, the company expects total revenues to be in the range of RMB2,780 million – RMB2,830 million, a 51.8-54.6% increase over full year 2020 and adjusted EBITDA is expected to be in the range of RMB1,350 million – RMB1,400 million, a 58.5-64.3% increase over full year 2020.

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