Chaince Digital Holdings Inc Stock Price, News & Analysis

Chindata Group Holdings Limited (Nasdaq: CD) announced the departure of CEO Jing Ju effective immediately. Mr. Fei Xu will serve as interim CEO while a search for a permanent replacement begins. The Board expressed gratitude for Mr. Ju's contributions but did not specify reasons for the leadership change. The company remains focused on providing innovative data center solutions across Asia-Pacific. Chindata operates two brands, with a strong presence in key economic areas of China, India, and Southeast Asia.

Chindata Group Holdings Limited (Nasdaq: CD) reported a strong financial performance for Q3 2021, with total revenues rising by 58.5% year-over-year to RMB740.8 million. Net income reached RMB78.4 million, marking a net margin of 10.6%. Adjusted EBITDA also saw significant growth, increasing 61.6% to RMB368.4 million and a margin of 49.7%. The company is expanding its client base and overseas operations, launching projects in Malaysia and Thailand, and securing a 27MW capacity deal with a leading cloud provider in China.

Chindata Group (NASDAQ: CD) participated in the Make Climate Action Everyone's Business Forum at COP26, sharing its zero-carbon initiatives for digital infrastructure in Asia-Pacific. Zoe Zhuang, the company’s VP, outlined their roadmap for carbon neutrality, encompassing carbon offsetting, sustainable supply chains, and clean energy collaboration. Notably, Chindata Group accounted for just 0.014% of China's power consumption in 2020, setting best practices for the Asia-Pacific digital economy. The forum gathered over 10,000 participants globally to address climate change and promote rapid decarbonization efforts.

Chindata Group (Nasdaq: CD) will release its unaudited third quarter 2021 financial results on November 24, 2021, before market opening. A conference call is scheduled for 7:00 A.M. EST on the same day to discuss these results. Participants must register online to obtain details for access. Chindata Group is a leading carrier-neutral hyperscale data center provider in Asia-Pacific, focusing on lifecycle management of IT infrastructure. The company operates under two sub-brands, Chindata and Bridge Data Centres, with a presence in key economic areas.

On October 28, 2021, Alex Ju, CEO of Chindata Group (NASDAQ: CD), engaged in a strategic dialogue with Helen Clarkson, CEO of the Climate Group, focusing on the vital role of digital infrastructure in global growth and carbon emission reduction. Chindata Group was acknowledged for joining the RE100 initiative and its commitment to zero-carbon computing. Mr. Ju outlined progress in carbon neutrality and green power initiatives, such as procuring 540.2 million kWh of green power, reducing approximately 509,000 metric tons of CO2. The partnership aims to enhance technological innovation and sustainable energy solutions in Asia-Pacific markets.

On September 22, 2021, Chindata Group joined the RE100 initiative, pledging to achieve 100% renewable energy for its global data centers by 2040. This milestone coincides with China's commitment to peak emissions by 2030 and attain carbon neutrality by 2060. The company aims for net zero carbon emissions through innovative green power consumption solutions and is aligned with the UN's Sustainable Development Goals. CEO Alex Ju will judge the RE100 Leadership Awards, highlighting efforts in renewable electricity transition.

Chindata Group (Nasdaq: CD) participated in China's first nationwide green power transaction, procuring 100 million kWh, amounting to 1.26% of the total transaction volume of 7.935 billion kWh. This initiative is expected to reduce greenhouse gas emissions by about 94,000 tons of CO2. The company is focusing on enhancing its green power consumption ecosystem with initiatives like direct green power trading and renewable energy power plant development. In 2020, renewable energy accounted for 51% of its total power consumption, and its upcoming 150MW smart photovoltaic plant is projected to cut 212,000 tons of CO2 annually.

Chindata Group has become the first digital infrastructure corporate participant of the United Nations Global Compact in the Asia Pacific. This aligns with the company's commitment to sustainable digital infrastructure development and supports the United Nations Sustainable Development Goals (SDGs). Chindata aims to achieve carbon neutrality by 2030, using 100% renewable energy for its data centers in China and investing in over 2GW of clean energy generation. The UN Global Compact connects organizations to promote sustainable business practices.