Bain Capital Announces Strategic Sale of WinTriX’s China Operations in Landmark US$4 Billion Transaction

Beijing, September 10, 2025 - Global leading private investment firm Bain Capital today announced its data center portfolio company WinTrix DC Group has entered into a binding agreement to sell 100% of its equity interest in its China operations (hereinafter "Chindata") to a consortium led by Shenzhen Dongyangguang Industry Co., Ltd (hereinafter "HEC"), together with institutional investors including insurance companies and local government funds. The transaction, valued at US$4 billion,
marks the largest merger and acquisition deal in the history of China's data center industry.

This landmark transaction underscores sustained investor demand for scalable, next-generation digital infrastructure in China. Since 2018, Chindata has grown into a leading hyperscale data center platform, playing a meaningful role in supporting China's accelerated digital transformation.

Jonathan Zhu, a Partner and Chair of China at Bain Capital, said: "Chindata's journey reflects Bain Capital's strategy of partnering with outstanding management teams to build category-defining infrastructure platforms. Today, Chindata has evolved into one of China's leading digital infrastructure platforms, with unmatched scale and technical capabilities. We believe HEC will continue to build on this legacy, bringing its strong industrial capabilities to support the next phase of Chindata's development."

Drew Chen, a Partner at Bain Capital, added: Over the past seven years, we have been proud to have partnered with Chindata's management team to accelerate its growth and enhance its strategic position in the market. This exit underscores Bain Capital's track record of creating long-term value and supporting AI-driven innovation and sustainable growth. We are confident that under HEC's leadership, the company will continue to thrive in China's dynamic data economy."

Barnaby Lyons, a Partner and Global Head of Bain Capital Special Situations, commented: "This transaction marks an important milestone for Bain Capital in Asia. It highlights how our Private Equity and Special Situations teams combine growth investing with real estate expertise to build leading platforms. We see significant global demand for hyper-scale data centers and are continuing to scale differentiated platforms across Southeast Asia and Asia more broadly, as well as in Europe and North America."

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About Bain Capital

Founded in 1984, Bain Capital is one of the world's leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management.

About China operations of WinTriX

Formerly known as Chindata Group Holdings, the China operations of data centre operator WinTriX DC Group, is a mainland China based leading carrier-neutral hyperscale data center solution provider and a first mover in building next- generation hyperscale data centers in China. The business operates hyper-density IT cluster infrastructure in the Greater Beijing Area, the Yangtze River Delta Area, and the Greater Bay Area - three key economic areas in China - and has become a critical engine of regional digital economies.