Futu News reported on June 13th that $CLOUD FACTORY (02512.HK)$Today's pre-market trading opened flat, up 0.87% to 4.64 Hong Kong dollars, with a turnover of 4.9546 million Hong Kong dollars and a total market value of 2.134 billion Hong Kong dollars.
Market source: Futu Securities.
Company overview
Cloud Factory is a neutral service provider among operators in the internet data center industry. According to the 2022 revenue, the company ranks 11th in the industry with a market share of 0.6%. The company uses a non-self-built data center model to provide IDC solution services to customers (major top-tier Chinese internet companies and cloud computing service providers). Specifically, the company does not own, build, or develop its own network data centers, but rather manages the data center space and cabinets we procure from our suppliers (including three state-owned telecom operators and others) when providing IDC solution services.
The company has close cooperation with one of the largest state-owned telecom operators in China. Through cooperation with the supplier, the company has developed IDC solution services in the northern and western regions of China. During the reporting period, the company's IDC solution services have covered 19 relatively developed provinces and 38 cities across regions. The following table shows the revenue generated by IDC solution services during the reporting period by region in China:
The following table shows the revenue generated by IDC solution services during the reporting period by region in China:
Financial overview
In terms of financial performance, Cloud Factory's total revenue in 2021, 2022, and 2023 was RMB 464 million, 549 million, and 696 million yuan, respectively, with a compound annual growth rate of 22.43%; the gross profit during the same period was RMB 56 million, 69 million, and 88 million yuan, respectively, with a compound annual growth rate of 24.62%.
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Editor/Joe