VNET(US:VNET) Jin Rong Jie·2025-07-08 14:14Core Viewpoint - Century Internet (VNET) shows a mixed financial performance with revenue growth but a decline in net profit, indicating potential challenges ahead in maintaining profitability while expanding operations [1][2]. Financial Performance - As of March 31, 2025, Century Internet reported total revenue of 2.246 billion RMB, representing an 18.34% year-over-year increase [1]. - The net profit attributable to the parent company was -238 million RMB, a decrease of 27.03% compared to the previous year [1]. Business Operations - Century Internet operates over 50 data centers across more than 30 cities in China, with a base business operational capacity exceeding 480 MW and over 52,000 operational cabinets in urban areas [2]. - The company has established large-scale data center industry clusters in key regions such as Beijing-Tianjin-Hebei, Yangtze River Delta, and Guangdong-Hong Kong-Macau, facilitating smooth data migration from first-tier to edge cities [2]. Strategic Partnerships - As a strategic partner of Microsoft, Century Internet Blue Cloud operates international-standard cloud services in China, including Microsoft Azure, Microsoft 365, Dynamics 365, and Power Platform [2]. - The company has built a solid foundation for business development for over 6,000 high-quality enterprise clients, including nearly 100 leading companies in high-growth industries [2].