28 May 2025 | 7:13PM HKT VNET Group (VNET): First Take: 1Q25 results beat; Accelerated move-in offset softer wholesale MSR; Buy VNET Group reported above-expected 1Q25 results with revenue +18% yoy (1-2% above GSe/Visible Alpha Consensus Data) and adj. EBITDA +26% yoy (8-12% above GSe/consensus). Revenue from the three business segments came in line or slightly above GSe, with 1) wholesale IDC revenue +86% yoy/+1% qoq and accounting for 30% of total revenue, with stronger move-ins at the new campuses delive ...

VNET Group, Inc. (NASDAQ:VNET) Q1 2025 - Earnings Conference Call May 28, 2025 8:00 AM ET Company Participants Xinyuan Liu - Director of Investor Relations Ju Ma - Rotating President and General Manager of the AIDC Strategic Business Group Qiyu Wang - Chief Financial Officer Conference Call Participants Tom Tang - Morgan Stanley Edison Lee - Jefferies Daley Li - Bank of America Securities Louis Tseng - Citi Sarah Wong - UBS Operator Hello, ladies and gentlemen. Thank you for standing by for the First Quarte ...

VNET Group (VNET) Q1 2025 Earnings Call May 28, 2025 08:00 AM ET Company Participants Xinyuan Liu - GM, Board Secretary and Head - Investor Relations & ESGJu Ma - Rotating President and GM - AIDC Strategic Business GroupQiyu Wang - Chief Financial OfficerEdison Lee - Head - HK/China Tech, Telecom & Software Research Conference Call Participants Yue Tang - AnalystDaley Li - Vice President, Equity Research Analyst - China Software & Semis SectorLouis Tsang - AnalystXinyi Wang - Equity Research Analyst - Great ...

VNET Group (VNET) Q1 2025 Earnings Call May 28, 2025 08:00 AM ET Speaker0 Hello, ladies and gentlemen. Thank you for standing by for the First Quarter twenty twenty five Earnings Conference Call for VNet Group Inc. After the management's prepared remarks, there will be a question and answer session. Please note the Chinese line is in listen only mode. If you wish to ask questions, please dial in through the English line. Participants from our management include Mr. Zhu Ma, rotating president Mr. Qi Yu Wang, ...

VNET Group, Inc. Earnings Presentation for 1Q25 May 28, 2025 Disclaimer This presentation has been prepared by VNET Group, Inc. (the "Company") solely for informational purposes and has not been independently verified. No representations, warranties or undertakings, express or implied, are made by the Company or any of its affiliates, advisers or representatives as to, and no reliance should be placed upon, the accuracy, fairness, completeness or correctness of the information or opinions presented or conta ...

Core Viewpoint - VNET Group, Inc. reported strong financial results for the first quarter of 2025, driven by significant growth in its wholesale IDC business and effective execution of its dual-core strategy [2][11][25]. Financial Highlights - Total net revenues increased by 18.3% year-over-year to RMB2.25 billion (US$309.5 million) from RMB1.90 billion in the same period of 2024 [6][11]. - Net revenues from the IDC business rose by 27.8% to RMB1.64 billion (US$226.2 million) from RMB1.28 billion in the same period of 2024 [12]. - Wholesale revenues surged by 86.5% to RMB673.2 million (US$92.8 million) from RMB361.0 million in the same period of 2024 [17]. - Retail revenues increased by 4.8% to RMB968.3 million (US$133.4 million) from RMB923.7 million in the same period of 2024 [17]. - Adjusted EBITDA grew by 26.4% year-over-year to RMB682.4 million (US$94.0 million), with an adjusted EBITDA margin of 30.4%, up from 28.4% in the same period of 2024 [20]. Operational Highlights - As of March 31, 2025, wholesale capacity in service increased by 88MW quarter-over-quarter to 573MW, with utilized capacity reaching a record high of 437MW [2][6]. - The utilization rate of wholesale capacity was 76.2% as of March 31, 2025, compared to 72.6% as of December 31, 2024 [6][12]. - Total capacity committed was 571MW as of March 31, 2025, with a commitment rate for capacity in service of 99.7% [6][12]. Business Outlook - The company expects total net revenues for 2025 to be between RMB9,100 million to RMB9,300 million, representing year-over-year growth of 10% to 13% [25]. - Adjusted EBITDA is projected to be in the range of RMB2,700 million to RMB2,760 million, indicating year-over-year growth of 11% to 14% [25].

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BEIJING, April 28, 2025 /PRNewswire/ -- VNET Group, Inc. (NASDAQ: VNET) ("VNET" or the "Company"), a leading carrier- and cloud-neutral internet data center services provider in China, today announced it has published its 2024 Environmental, Social and Governance Report (the "2024 ESG Report"). This is VNET's fifth ESG report, highlighting the Company's 2024 efforts and achievements in environmental practices, digital empowerment, ethical governance, and social responsibility."As an integral element of VNET ...

BEIJING, April 25, 2025 /PRNewswire/ -- VNET Group, Inc. (NASDAQ: VNET) ("VNET" or the "Company"), a leading carrier- and cloud-neutral internet data center services provider in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 with the Securities and Exchange Commission (the "SEC") on April 25, 2025 Eastern Time. The annual report on Form 20-F, which contains the Company's audited consolidated financial statements, can be accessed on the SEC's w ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F | (Mark One) | | --- | ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE ...