Strong Wholesale IDC Business Growth
Wholesale capacity in service grew 18.1% quarter over quarter to 573 megawatts, and wholesale revenues reached a new record high of RMB 673 million, representing an 86.5% year-over-year growth.
Record Utilization Rates
Wholesale capacity utilized grew 23.9% quarter over quarter to 437 megawatts, with a utilization rate increase of 3.6 percentage points to 76.2%.
Robust Financial Performance
Total net revenues increased by 18.3% year over year to RMB 2.25 billion, and adjusted EBITDA increased by 26.4% year over year to RMB 682 million.
Successful New Orders and AI Demand
Secured new wholesale and retail orders, including a 6-megawatt wholesale order and 4 megawatts in retail orders, driven by AI and intelligent applications.
Strong Liquidity and Financing
Issued $430 million of convertible senior notes and secured a RMB 500 million sustainability-linked loan.
ESG Achievements
Total energy usage from renewable sources increased fivefold, accounting for 18% of total resources, and achieved top ESG ratings.