Chindata Group Holdings Limited (NASDAQ:CD) Q2 2023 Earnings Call Transcript

But the other reality we have to face is actually from day one when we had a conversation about our chance in the Southeast Asia market, I’ve said and keep say — I have been keep saying that it’s open field competition. So you need to show all your hands, all what you have in your pocket in terms of our cooling solutions, your supply chain — entire supply chain solution from China all the way to Southeast Asia market, your talent pool, and your capital power — your power nodes, all of these. You’ve got to actually show much more than you have been doing in China through a client in order to win bigger shares out of this bigger pie.

Yang Liu: [Foreign Language] And there is a follow-up question is that do you have any sense on what is the wallet share for the Chindata in this anchor customer’s demand in Southeast Asia market?

Nick Wang: We’re striving to get over 50% of the overall shares. And we believe with all the solutions we put on the table and all the good performance we put on the table, we have a fairly good chance to get it. And our overall objective of the overseas business as a share of our overall portfolio going to be around 30% probably by the end of 2025.

Yang Liu: Thank you.

Operator: Thank you. [Operator Instructions] I’m showing no further questions. Thank you very much for all your questions. I’ll now turn the conference back to the company for any closing comments.

Nick Wang: Thank you. I think everybody has been focusing on Chindata, which we highly appreciate it. And also, we highly appreciate all the investors and analysts. Thanks for your support for the company in the past two or three years since we become — since the IPO. Well, there is a privatization process of the company that’s going on. We can assure you that the management and our entire team will continue to work very hard on delivering our business, sticking to our original mission of converting — efficiently converting electric power to computing power, and again striving to become the best IDC leader in the pan Asia-Pacific regions. Thank you.

Operator: Ladies and gentlemen, we conclude our conference for today. Thank you for participating. You may now disconnect your lines.