VNET Group, Inc. reports developments for a carrier- and cloud-neutral internet data center services provider in China. The company provides hosting and related services, including IDC services, cloud services and business VPN services, and its data centers connect customer equipment to China’s internet backbone.
Recurring VNET news covers unaudited financial results, IDC and non-IDC revenue trends, wholesale data center capacity, customer orders, hyperscale infrastructure demand, ESG reporting and finance leadership changes. Updates also include annual Form 20-F filing announcements, shareholder voting matters and capital-structure disclosures tied to its ADR issuer profile.
VNET (VNET) closed a previously announced share purchase transaction under which PJ Millennium I Limited and PJ Millennium II Limited acquired 650,424,192 Class A ordinary shares from Success Flow International Investment Limited and Choice Faith Group Holdings Limited.
After the transaction, the Buyers collectively hold about 38.1% of VNET’s total issued and outstanding ordinary shares, based on 1,708,970,760 ordinary shares outstanding as of June 30, 2026. In connection with closing, an investor rights agreement between VNET and the Buyers and a voting and consortium agreement among the Buyers, founder and Executive Chairperson Josh Sheng Chen, and certain affiliated investment vehicles became effective.
VNET (Nasdaq: VNET) announced a strategic cooperation agreement with CATL, a global zero‑carbon new energy technology company. The partnership focuses on integrating large‑scale computing infrastructure with zero‑carbon energy solutions to jointly develop gigawatt‑scale compute‑energy facilities, distributed compute‑energy networks and a zero‑carbon token ecosystem.
VNET (Nasdaq: VNET) reported second quarter 2026 net revenues of RMB2.78 billion, up 14.2% year-over-year, driven by 29.3% growth in wholesale IDC revenues to RMB1.10 billion and 9.1% growth in retail revenues to RMB1.05 billion. Non-IDC revenues rose 1.1% to RMB628.4 million.
GAAP gross profit declined 7.8% to RMB505.2 million, with gross margin down to 18.2%, mainly due to higher depreciation from rapid capacity expansion. However, adjusted EBITDA increased 25.4% to RMB918.3 million, lifting margin to 33.0%, and adjusted net income reached RMB7.4 million versus a prior-year adjusted net loss.
VNET’s wholesale capacity in service grew 49.4% year-over-year to 1,007MW, with total committed capacity at 970MW (96.3% commitment rate). The company reaffirmed full-year 2026 guidance of RMB11.5–11.8 billion in net revenues and RMB3.55–3.75 billion in adjusted EBITDA, and announced a strategic compute‑energy cooperation with CATL.
VNET (Nasdaq: VNET) will release its unaudited second quarter 2026 financial results on Tuesday, August 18, 2026, before U.S. market open. Management will host an earnings conference call at 8:00 AM U.S. Eastern Time / 8:00 PM Beijing Time the same day, with English and Chinese access options and webcast and replay available.
VNET (Nasdaq: VNET) reported unaudited Q1 2026 results with total net revenues up 19.8% year-over-year to RMB2.69 billion, led by 58.1% growth in wholesale IDC revenues. Adjusted EBITDA rose 30.6% to RMB891.5 million, while gross margin dipped to 22.9% and net loss widened to RMB531.8 million, mainly due to RMB486.2 million capital-transactions-related tax expenses.
Operationally, wholesale capacity in service reached 907MW with a 75.7% utilization rate. VNET also listed two REIT projects and announced a proposed strategic investment by CATL affiliates, which could result in ownership of up to 38.1% of shares. Full-year 2026 guidance for revenues and adjusted EBITDA was reaffirmed.
VNET (Nasdaq: VNET) announced a strategic investment where PJ Millennium I and II will buy from SDHG-owned sellers up to 650,424,192 Class A shares at US$1.4486 per share (US$8.6914 per ADS). Closing is subject to conditions and targeted for Q4 2026.
Post-closing, buyers may hold up to 38.1% of VNET. Investor rights, lock-up, and voting agreements with the founder and affiliates are designed to support control stability and align voting of certain acquired shares with founder instructions for a specified period.
VNET Group (Nasdaq: VNET) will release unaudited Q1 2026 financial results on May 26, 2026, before U.S. market open.
Management will host an earnings conference call at 8:00 AM ET / 8:00 PM Beijing Time, with English and Chinese (listen-only) access options and webcast replay.
VNET (NASDAQ: VNET) published its 2025 Environmental, Social and Governance Report, its sixth ESG report, outlining 2025 initiatives and measurable results in green energy, governance and social responsibility.
Key metrics: 1,253,719 MWh renewable energy (36% of total), average PUE 1.24, RMB860 million green ABS, and a RMB650 million three-year sustainability-linked loan.
VNET (Nasdaq: VNET) announced a CFO leadership change: Mr. Qiyu Wang will resign as Chief Financial Officer, effective April 30, 2026, for personal reasons. The company said the resignation is not due to disagreement with VNET or its accounting practices.
VNET noted that Peter Zhihua Zhang, appointed in February 2026 as Senior Vice President, Operational Finance, will serve as the company’s principal accounting officer; Mr. Zhang has worked at VNET since 2019 and will oversee financial operations during the transition.
VNET (NASDAQ: VNET) filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2025 with the SEC on April 16, 2026. The filing includes the company's audited consolidated financial statements and is available on the SEC website and the company's investor relations site.
Hard copies of the annual report with audited statements are available free of charge to shareholders and ADS holders upon request via ir@vnet.com or the investor relations address in Beijing.