BEIJING, Jan. 9, 2024 /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 the results of its extraordinary general meeting held on January 9, 2024, in Beijing. The Company's shareholders adopted the following resolutions: THAT the currently effective fourth amended and restated memorandum and articles of association of the Company be amended and restated by the deletion in their ent ...

BEIJING, Dec. 28, 2023 /PRNewswire/ -- VNET Group, Inc. (Nasdaq: VNET) ("VNET" or the "Company"), a leading carrier- and cloud-neutral internet data center services provider in China, announced that it has entered into a strategic cooperation agreement (the "Agreement") with Shandong Hi-Speed Holdings Group Limited ("SDHG," 00412.HK), an important overseas investment and financing as well as emerging industrial holding platform of Shandong Hi-Speed Group. Pursuant to the Agreement, SDHG and VNET will levera ...

Core Viewpoint - VNET Group, Inc. has completed a strategic equity investment totaling US$299 million from Success Flow International Investment Limited and Choice Faith Group Holdings Limited, both affiliated with Shandong Hi-Speed Holdings Group Limited, enhancing its capital structure and shareholder base [1][2]. Investment Details - The strategic investment resulted in Success Flow and Choice Faith acquiring 455,296,932 and 195,127,260 newly issued Class A ordinary shares, representing approximately 29.5% and 12.6% of the total issued shares, respectively [2]. - The voting power held by Success Flow and Choice Faith is approximately 25.0% and 10.7%, respectively [2]. - Success Flow is restricted from transferring any Class A ordinary shares acquired in the investment for three years, subject to certain conditions [2]. Convertible Notes Repurchase - The company is notifying holders of its 0.00% Convertible Senior Notes due 2026 about their right to require the company to repurchase their notes for cash on February 1, 2024 [3][5]. - The repurchase price will be 100% of the principal amount plus any accrued and unpaid special interest, with US$600 million in aggregate principal amount of the notes outstanding as of December 28, 2023 [5]. - The opportunity to exercise the repurchase right begins on January 2, 2024, and ends on January 30, 2024 [6]. Company Overview - VNET Group, Inc. is a leading carrier- and cloud-neutral internet data center services provider in China, offering hosting, IDC services, cloud services, and business VPN services [9]. - The company operates in over 30 cities in China, serving a diverse customer base of over 7,000 enterprise clients across various industries [9]. Parent Company Overview - Shandong Hi-Speed Holdings Group Limited is a Hong Kong-listed company that serves as an important investment and financing platform, focusing on industrial investment and resource integration [10].

单击此处编辑母版标题样式 VNET Group, Inc. Investor Presentation D单isc击laim此er处编辑母版标题样式 This presentation includes “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements regarding expected future events, business prospectus or financial results. The words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “would”, “project”, “should”, “believe”, “plan”, “intend”, “future”, “aim” and similar expression ...

Financial Data and Key Metrics Changes - Total net revenues increased by 4% year-over-year to RMB1.89 billion, driven by growth in the mine business [6][15] - Adjusted EBITDA grew by 11.6% year-over-year to RMB507.9 million, with an adjusted EBITDA margin of 26.9% compared to 25.1% in the same period of 2022 [6][17] - Net loss attributable to VNET Group was RMB50.5 million, significantly improved from a net loss of RMB425.2 million in the same period of 2022 [17] Business Line Data and Key Metrics Changes - The number of utilized cabinets increased by 1,092 to 52,408, resulting in an overall utilization rate of 59% [5] - Retail MRR per cabinet remained high at RMB9,495, although there was a quarter-on-quarter decline in utilization rate and retail MRR [5][28] - The company successfully delivered over 2,600 high-power density cabinets to a wholesale customer in the Yangtze River-Delta region [8] Market Data and Key Metrics Changes - The demand for premium IDC services is increasing, particularly driven by AI applications and large language model training [6][7] - The company is seeing rising demand from various industries, including local services, healthcare, and autonomous driving [9][10] Company Strategy and Development Direction - The company is focusing on high-quality revenues in both wholesale and retail IDC markets, with a strategic shift towards AI-driven demand [6][19] - Plans to reduce exposure to low-margin businesses while enhancing resources for high-profit areas, particularly in wholesale and AI-driven sectors [25][34] Management's Comments on Operating Environment and Future Outlook - Management highlighted the supportive government policies for computing power infrastructure development in China, which is expected to accelerate growth [12] - The company anticipates a continued increase in AI-driven demand across various sectors, with a focus on maintaining high-quality growth [19][39] Other Important Information - The company expects full-year 2023 total net revenue to be between RMB7,400 million and RMB7,600 million, reflecting a year-over-year growth of 4.7% to 7.6% [18] - Capital expenditure for the full year is expected to be around RMB3.8 billion, with a significant increase anticipated in 2024 due to growing demand [31] Q&A Session Summary Question: Update on convertible bond repayment and asset monetization - Management is prioritizing liability management and is working on new funding from equity and debt investments, as well as engaging with CB creditors for the best way forward [22][23] Question: Revenue and EBITDA guidance revision - The company is focusing on higher profit margin businesses, particularly in AI-driven wholesale, while reducing low-profit business exposure [25] Question: Third quarter MRR decline - Management noted that the decline in MRR is normal and expects it to recover by the end of the year, particularly for wholesale customers [28][29] Question: CapEx outlook - Full-year CapEx is expected to be around RMB3.8 billion, with a significant increase anticipated in 2024 due to growing demand in the wholesale business [31] Question: Revenue breakdown for updated guidance - Management is reallocating resources from traditional retail to AI-driven wholesale customers, which has impacted revenue guidance but is expected to improve EBITDA margins [34]

Exhibit 99.1 VNET Reports Unaudited Third Quarter 2023 Financial Results BEIJING, November 15, 2023 /PRNewswire/ -- VNET Group, Inc. (Nasdaq: VNET) ("VNET" or the "Company"), a leading carrierand cloud-neutral internet data center services provider in China, today announced its unaudited financial results for the third quarter ended September 30, 2023. "We recorded another solid performance in the third quarter of 2023, highlighted by smooth and timely deliveries of approximately 3,500 cabinets as well as n ...

VNET Group, Inc. (NASDAQ:VNET) Q2 2023 Results Conference Call August 23, 2023 9:00 PM ET Company Participants Xinyuan Liu - IRO Jeff Dong - CEO Qiyu Wang - CFO Tim Chen - CSO Conference Call Participants Edison Lee - Jefferies Sara Wang - UBS Timothy Zhao - Goldman Sachs Operator Hello, ladies and gentlemen. Thank you for standing by for the Second Quarter 2023 Earnings Conference Call from VNET Group, Inc. [Operator Instructions]. Participants from our management include Mr. Jeff Dong, Chief Executive Of ...

Exhibit 99.1 VNET Reports Unaudited Second Quarter 2023 Financial Results BEIJING, August 23, 2023 /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 its unaudited financial results for the second quarter ended June 30, 2023. "During the second quarter of 2023, we delivered another solid set of results as we continued to execute our proven dual-core growth strategy, which reaffirms o ...

VNET Group, Inc. (NASDAQ:VNET) Q1 2023 Earnings Conference Call May 24, 2023 9:00 PM ET Company Participants Xinyuan Liu - Director, IR Jeff Dong - CEO Tim Chen - CFO Conference Call Participants Yang Liu - Morgan Stanley Edison Lee - Jefferies Ethan Zhang - Nomura Securities Jasmine Huang - UBS Operator Hello, ladies and gentlemen. Thank you for standing by for First Quarter 2023 Earnings Conference Call for VNET Group Inc. [Operator Instructions]. Participants from our management include Mr. Jeff Dong, Ch ...

Exhibit 99.1 VNET Reports Unaudited First Quarter 2023 Financial Results BEIJING, May 24, 2023 /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 its unaudited financial results for the first quarter ended March 31, 2023. "We were pleased to kick off 2023 with a solid first quarter, thanks to our effective dual-core growth strategy and competitive service offerings," said Jeff Dong, ...