世纪互联（VNET）：公司跟踪报告：业绩表现超预期，Hyperscale2.0框架规划体量大
VNET(US:VNET) Haitong Securities International·2025-09-29 12:43….-9+*88888888888888888888888886 股票研究 /[Table_Date] 2025.09.14 业绩表现超预期，Hyperscale 2.0 框架规划体量大 世纪互联(VNET.O) | 财务摘要(百万人民币) | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入 | 7412.93 | 8259.07 | 9291.35 | 10830.10 | 12668.96 | | (+/-)% | 4.9% | 11.4% | 12.5% | 16.6% | 17.0% | | 毛利润 | 1292.49 | 1832.15 | 2159.98 | 2612.26 | 3164.05 | | 净利润 | -2,643.84 | 183.20 | 175.93 | 218.69 | 304.35 | | (+/-)% | -240.7% | 106.9% | -4.0% | 24.3% | 39.2% | | PE | -11.88 | 305.35 | 87.81 ...