【行业研究报告】奥飞数据-Initiation:Rapidly rising IDC leader poised for upbeat expansion

▍Industryoverview:TheIDCindustryisboomingondemandgrowth+
tightsupplyincoreareas.
tightsupplyincoreareas.
In2021,China'sIDCmarketwasworthRmb150bn,accountingforabout34%
oftheworld'stotal,implyingaCAGRof27.8%in2016-21,whichwashigher
thantheglobalaveragegrowthrate.In2021,theIDCindustrywasaffected
bythepolicyofdualcontrolsonenergyconsumptionandthestrict
supervisionofinternetcompanies,andthesupplyanddemandoftheindustry
werebothsuppressedintheshortterm.In2022,withthelaunchofthe
EasternDataandWesternComputingprojectandthemarginalrelaxationof
controloverenergyconsumptionindicators,thecabinetdeploymentofIDC
manufacturersmaycomebackontrack.Inaddition,weexpectthatthecapex
ofdomesticinternetcompanieswillgraduallyrecover,andusertrafficwill
continuetogrowrapidly.IDCdemandinfirst-tiercitiesstillboastsscarcity
value,andtheoverallprosperityofIDCmayimprove.
▍Companyadvantages:acceleratedexpansioninkeyareasand
continuousgrowthondeeptieswithcustomers
1)Governanceadvantages:ambitiousexecutivescommittedto