Core Viewpoint - VNET Group, Inc. has announced a share repurchase program, reflecting the company's confidence in its future growth prospects, allowing for the repurchase of up to US$50 million of its American depositary shares [1] Share Repurchase Program Details - The share repurchase may occur on the open market at prevailing prices, through various legally permissible means, and will be subject to market conditions and regulatory requirements [2] - The program will be effective upon signing a formal agreement with a qualified broker-dealer and will last for 12 months, depending on market conditions and other factors [3] - The company is not obligated to repurchase a specific number of shares and may modify or terminate the program at management's discretion [3] 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 [4] - The company operates in over 30 cities in China, serving a diverse base of more than 7,000 enterprise customers across various industries, including internet companies, government entities, and small to mid-sized enterprises [4]

Core Viewpoint - VNET Group, Inc. has raised its total net revenues and adjusted EBITDA guidance for the full year 2025, reflecting strong operational performance and strategic execution [1][2]. Financial Performance - The updated guidance for total net revenues in 2025 is projected to be between RMB9,150 million and RMB9,350 million, indicating a year-over-year growth of 11% to 13% [3][4]. - Adjusted EBITDA (non-GAAP) is expected to range from RMB2,760 million to RMB2,820 million, representing a year-over-year growth of 14% to 16% [3][4]. - Excluding a disposal gain of RMB87.7 million from the adjusted EBITDA calculation for 2024, the year-over-year growth would be 18% to 20% [3][4]. Business Outlook - The company attributes its optimistic outlook to faster-than-expected move-ins among wholesale IDC clients and ongoing operational efficiency gains [2]. - VNET operates in over 30 cities across China, serving a diverse customer base of more than 7,000 enterprise clients from various industries [6].

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].

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 ...