BEIJING, June 27, 2025 /PRNewswire/ -- VNET Group, Inc. ("VNET" or the "Company") (Nasdaq: VNET), a leading carrier- and cloud-neutral internet data center services provider in China, today announced that to underscore its confidence in VNET's future development and growth prospects, its Board of Directors has authorized a share repurchase program under which VNET may repurchase up to US$50 million of its American depositary shares ("ADSs"), each representing six Class A ordinary shares of the Company, subj ...

BEIJING, June 27, 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 the Company has increased its total net revenues and adjusted EBITDA (non-GAAP) guidance for the full year 2025."We were very pleased to deliver an impressive first quarter results, demonstrating sustained operating and financial momentum underpinned by strong strategic execution," said Qiyu Wang, Chief Fi ...

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 ...