Two Chinese data center companies posted strong unaudited results for the second quarter.
Chindata claimed its revenue grew 64.2 percent year over year, while 21Vianet said it grew 30.8 percent. The latter company also proposed changing its name to VNET.
Chindata launched on the US stock market last year, raising $540 million. In the IPO, it warned that nearly 82 percent of its revenue came from ByteDance, the owner of TikTok.
The hyperscale-focused company said that for the second quarter of 2021, revenue grew 64.2 percent year over year to RMB686.4 million (US$106.3 million).
Net income hit RMB65.1 million ($10.1m), its highest to date. Adjusted EBITDA increased 65.8 percent year over year to RMB338.5 million ($52.4 million), with a margin of 49.3 percent.
In the quarter, Chindata added three new projects under-construction with a total capacity of 87MW, claimed that there was 66MW of capacity with indication of interest (“IOI”), and a 3MW contracted capacity converted from existing IOI capacity, with existing clients.
The company said that it had also entered into a strategic development cooperation with Tencent.
In-service capacity increased by 24MW, or 6.9 percent quarter over quarter, to 361MW, compared to 337MW in the first quarter of 2021. 217MW is currently under construction.
"[The] pandemic has decelerated the flow of people, technologies and commodities in Pan Asia Pacific emerging market, posing more challenges to the delivery and execution model of industry players," Chindata CEO Jing Ju said.
"To cope with these challenges, Chindata has remained fully dedicated to core capacity build-up covering green-field development, integrated energy solution and white-labeling of key digital infrastructure equipment."
21Vianet Group also posted yearly growth.
The carrier-neutral Internet data center services provider, and exclusive operator of Microsoft Azure and Office, said that net revenues grew 30.8 percent to RMB1.50 billion ($231.9m).
Adjusted cash gross profit (non-GAAP) in the second quarter of 2021 increased by 36.9 percent to RMB640.2m ($99.2m) from RMB467.6m this time last year.
Total cabinets under management increased by 6,950 to 62,876, as of June 30, 2021, compared to 55,926 as of March 31, 2021, and 44,050 as of June 30, 2020.
In an earnings call, company CEO Samuel Shen said that the company was considering a branding change.
"To further promote our brand awareness, we have proposed to change the company's name from 21Vianet Group Inc. to VNET Group Inc," he said. The new name will be voted on at an Extraordinary General Meeting on 8 October.
