VNET Group, Inc. (NASDAQ:VNET) Q3 2022 Earnings Call Transcript

Unidentified Analyst: Okay. It’s from Daiwa. So the first two questions. So first, as you guys — what about estimated CapEx before all our aggravating unfinished project we have done. And second question is, can you share more color on that repayment issue and the pressure from potential lingering?

Tim Chen: Sure. Let me take your second question first. In terms of repayments, we have a small, outstanding convertible note that’s coming up next year first half around U.S.$70 million. And then our next maturity bump will be our 600 million in CD. So that’s something that we have already started planning for. And we’ll be tackling during the course of 2023. In terms of your second question. You’re talking about CapEx on our outstanding MoU projects or what do you mean by — where we have CapEx spend this year, obviously, for projects that we’re delivering in 2023. But we also then have the continued development of new projects as well. So just want to clarify the question.

Unidentified Analyst: Yes. That’s excluding the partnership with a Changzhou, yes. So what’s the estimated CapEx for our existing unfinished projects within our own pipeline in the next three years?

Tim Chen: Probably won’t be able to give you in the next three-year guidance here. We have actually more than one of these Changzhou types of projects under discussion. So what I can tell you is that what we’re looking at for next year is probably a similar CapEx this year, and it includes the remaining deliveries for this year for deliveries in 23. And obviously, preparations next year for deliveries in 24, in terms of the power infrastructure and so forth. We’ll probably come to you offline and have some discussion on the general parameters for the coming three years. But obviously, as we continue to get new MoUs each quarter, that number will change and shift. And so we’ll have to rerun those numbers as well because we’ve just had a couple of new MoU wins. Thank you.

Unidentified Analyst: Okay. Thank you.

Operator: Thank you. That’s all the time we have for Q&A today. Ladies and gentlemen, that concludes our conference for today. Thank you for participating. You may now disconnect everyone have a great day.