Chindata Group Appoints Huapeng Wu as CEO

The Board of Chindata Group Holdings Ltd. (NASDAQ: CD) has appointed Huapeng Wu as CEO, effective immediately. Wu has been serving as the company’s President since 2019.

Commenting on the appointment, Jonathan Zhu, the Director and Chairman of Nomination Committee of Chindata Group, said, “Wu has extensive experience and contacts in the data center ecosystem as well as the broader technology landscape.”

Wu said, “Chindata is confident in providing customers with superior services, providing employees with better opportunities, and creating more long period value for our shareholders.”

The company plans to continue to concentrate on its core IDC business under Wu’s leadership. The focus areas include renewable energy development, overseas business development and key computing nodes, among others.

About Chindata Group

Beijing-based Chindata Group provides carrier-neutral hyperscale data center solutions in the Asia Pacific region. It focuses on the whole life cycle of facility planning, investment, design, construction and operation of ecosystem infrastructure in the IT industry.

Price Target

Based on a single Hold, the stock has a Hold consensus rating. The average Chindata Group Holdings price target of $8.30 implies 51.7% upside potential from current levels. Shares have lost 73% over the past year.

Download the TipRanks mobile app now.

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Read full Disclaimer & Disclosure

Related News:
Nio Seeks Secondary Listings in Singapore & Hong Kong — Report
Farfetch Swings to Profit in FY21; Shares Up 40%
Exxon to Sell 100% Stake in Nigerian Offshore Shallow Water Business