What is the company's net income for the 2020-Q3 period 
has gone to a higher level and I think that doesn't just reflect our success, but it reflects -- there's more opportunity in the market. And definitely now, some of this is being driven by 5G, particularly, say, IoT and smart city-type applications, both for cloud large Internet, and also for enterprise customers.
Do you want to add...
William Wei Huang -- Founder, Chairman and Chief Executive Officer
Yeah. I think -- Frank, I think the trend is not only triggered by the COVID, right? I think it is -- the logic is that -- the whole logic is in China, the visualization is overwhelming to a vault [Phonetic]. And I think the cloud, as we mentioned again and again, cloud is still in the early stage. So, we will see in the next five years, cloud still -- cloud payer still will be the major key driver to drive the data center demand. In the meanwhile, as I just mentioned, I think a lot of the new Internet -- large Internet companies still be produced in China, like [Indecipherable], like PDD, right? If you look at the last five years, they are lapping, right? Now, they became a $10 billion company, more than $10 billion company. And I think this is -- so that means the Internet still get back and penetrated to different segments -- it penetrated different vertical industry. So, I think there's still a big space for the Internet company to grow.
So, I think this is due -- and nowadays, a lot of Internet companies start to use -- not just using a public cloud, they're using the -- adopted to hybrid cloud architecture, this will trigger a lot of cloud demand, plus a lot of data center co-lo, or hyperscale data center demand. So, I think we are very confident. In the meanwhile, I just mentioned the -- like the traditional financial institution, plus enterprise, they also start to transfer their architecture from the traditional architecture to their cloud base -- hyperscale base. So, this will create another wave of demand for data center.
So, in my view, there is the three driver: cloud, Internet, enterprise, in next five or even 10 years will be the key demand -- a key driver to drive the demand. So, that's why we bring such a big money and we try to catch up -- echo this wave, right?
Frank Louthan -- Raymond James -- Analyst
Okay. Great.
William Wei Huang -- Founder, Chairman and Chief Executive Officer
But I will add a little more. As Dan mentioned, 5G is just implemented right now. But we believe after two years, 5G will trigger more IoT stuff, will trigger more a new application and also, will be another potential key driver to drive the data center demand.
Frank Louthan -- Raymond James -- Analyst
I mean, what are some of the key applications you think that come out of 5G? What are you seeing right now?
William Wei Huang -- Founder, Chairman and Chief Executive Officer
Yeah. I think there's a lot of the -- so far, I think it's too early to talk about it. But you will see a lot of the IoT stuff. We talk to a lot of the traditional industry, they all talk about the IoT stuff. And I think the very clear 5G will drive there -- the new application to implement to the all the supply -- all the value chain [Phonetic] -- business value chain, including the manufacturing -- traditional manufacturing and the traditional retail -- traditional industry. So, I think the -- this is not very clear now, but the market is talking about a lot of the development right now.
Frank Louthan -- Raymond James -- Analyst
All right. Great. Thank you very much.
Operator
Your next question comes from the line of James Wang from UBS. James, your line is now open.
James Wang -- UBS -- Analyst
Good morning, management. Congratulations on a good result. So first question from me is, I remember in the second quarter result, Dan mentioned there were a few locations that experienced some delays in activation of power supply. So I'm just wondering whether these are resolved now. And maybe a broader question on this is, as the number of projects and construction grows, is it getting more difficult to execute with the same level precision as the past and then th
has gone to a higher level and I think that doesn't just reflect our success, but it reflects -- there's more opportunity in the market. And definitely now, some of this is being driven by 5G, particularly, say, IoT and smart city-type applications, both for cloud large Internet, and also for enterprise customers.
Do you want to add...
William Wei Huang -- Founder, Chairman and Chief Executive Officer
Yeah. I think -- Frank, I think the trend is not only triggered by the COVID, right? I think it is -- the logic is that -- the whole logic is in China, the visualization is overwhelming to a vault [Phonetic]. And I think the cloud, as we mentioned again and again, cloud is still in the early stage. So, we will see in the next five years, cloud still -- cloud payer still will be the major key driver to drive the data center demand. In the meanwhile, as I just mentioned, I think a lot of the new Internet -- large Internet companies still be produced in China, like [Indecipherable], like PDD, right? If you look at the last five years, they are lapping, right? Now, they became a $10 billion company, more than $10 billion company. And I think this is -- so that means the Internet still get back and penetrated to different segments -- it penetrated different vertical industry. So, I think there's still a big space for the Internet company to grow.
So, I think this is due -- and nowadays, a lot of Internet companies start to use -- not just using a public cloud, they're using the -- adopted to hybrid cloud architecture, this will trigger a lot of cloud demand, plus a lot of data center co-lo, or hyperscale data center demand. So, I think we are very confident. In the meanwhile, I just mentioned the -- like the traditional financial institution, plus enterprise, they also start to transfer their architecture from the traditional architecture to their cloud base -- hyperscale base. So, this will create another wave of demand for data center.
So, in my view, there is the three driver: cloud, Internet, enterprise, in next five or even 10 years will be the key demand -- a key driver to drive the demand. So, that's why we bring such a big money and we try to catch up -- echo this wave, right?
Frank Louthan -- Raymond James -- Analyst
Okay. Great.
 William Wei Huang -- Founder, Chairman and Chief Executive Officer
But I will add a little more. As Dan mentioned, 5G is just implemented right now. But we believe after two years, 5G will trigger more IoT stuff, will trigger more a new application and also, will be another potential key driver to drive the data center demand.
Frank Louthan -- Raymond James -- Analyst
I mean, what are some of the key applications you think that come out of 5G? What are you seeing right now?
William Wei Huang -- Founder, Chairman and Chief Executive Officer
Yeah. I think there's a lot of the -- so far, I think it's too early to talk about it. But you will see a lot of the IoT stuff. We talk to a lot of the traditional industry, they all talk about the IoT stuff. And I think the very clear 5G will drive there -- the new application to implement to the all the supply -- all the value chain [Phonetic] -- business value chain, including the manufacturing -- traditional manufacturing and the traditional retail -- traditional industry. So, I think the -- this is not very clear now, but the market is talking about a lot of the development right now.
Frank Louthan -- Raymond James -- Analyst
All right. Great. Thank you very much.
Operator
Your next question comes from the line of James Wang from UBS. James, your line is now open.
James Wang -- UBS -- Analyst
Good morning, management. Congratulations on a good result. So first question from me is, I remember in the second quarter result, Dan mentioned there were a few locations that experienced some delays in activation of power supply. So I'm just wondering whether these are resolved now. And maybe a broader question on this is, as the number of projects and construction grows, is it getting more difficult to execute with the same level precision as the past and then th