GDS Holdings Limited Q1 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Business & Strategic Highlights

  • Sales exceeded 23,000 sqm in Q1 2021, fully organic and concentrated in Tier 1 markets. This matches the company’s consistent run-rate since early 2020.
  • Strong momentum despite concerns over cloud growth, regulations, and competition. Management reiterated confidence in meeting full-year sales and financial guidance.
  • Six hyperscale orders secured in Q1 2021, including:
    • Hong Kong: A major Chinese cloud provider committed to 45% of the new Hong Kong 1 data center (service start 2022) and signaled strong interest in Hong Kong 2 (2023).
    • Chongqing: Anchor order for 50% of Chongqing 1 from a large financial cloud customer.
    • Beijing: First hyperscale win from a new government/SOE-focused cloud provider.
  • Follow-on orders secured from two new hyperscale customers previously added in late 2020, including a leading e-commerce platform and a major content platform.
  • Sales pipeline: 50% expansion orders from customers already deployed with GDS, giving a non-competitive channel for growth.
  • Construction at record levels with 160,000+ sqm (397 MW IT power) under development and pre-commitment rate stable at 68%.
  • Resource pipeline exceeds 500,000 sqm, with 90% being greenfield land already paired with power quota.
  • Two acquisitions closed:
    • BJ15: 19,000+ sqm; 100% committed; 80% utilized.

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Operator: Hello, ladies and gentlemen, thank you for standing by for GDS Holdings Limited's First Quarter 2021 Earnings Conference Call [Operator Instructions] Today’s conference call is being recorded. I'll now turn the call over to your host, Ms. Laura Chen, Head of Investor Relations for the company. Please go ahead, Laura. Laura Chen: Thank you. Hello, everyone. Welcome to 1Q 2021 earnings conference call of GDS Holdings Limited. The company's results were issued via Newswire services earlier today and are posted online. A summary presentation, which we will refer to during this conference call can be viewed and downloaded from our IR website at investors.gds-services.com. Leading today's call is Mr. William Huang, GDS's Founder, Chairman and CEO, who will provide an overview of our business strategy and performance. Mr. Dan Newman, GDS's CFO, will then review the financial and operating results. Ms. Jamie Khoo, our COO, is also available to answer questions. Before we continue, please note that today's discussion will contain forward-looking statements made under the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company's results may be materially different from the views expressed today. Further information regarding these and other risks and uncertainties is included in the company's prospectus as filed with the U.S. SEC. The company does not assume

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