VNET GROUP INC Stock Price, News & Analysis

21Vianet Group, Inc. (Nasdaq: VNET) reported unaudited financial results for Q1 2021, with net revenues rising by 27.1% to RMB1.39 billion (US$211.7 million) year-over-year. Adjusted cash gross profit increased by 45.1% to RMB605.3 million (US$92.4 million), showcasing a gross margin of 43.6%. Adjusted EBITDA surged by 60.0% to RMB415.1 million (US$63.4 million). Despite these gains, the company reported a net loss of RMB84.7 million (US$12.9 million). For Q2 2021, VNET forecasts revenues between RMB1,470 million to RMB1,490 million, with full-year revenues expected between RMB6,100 million and RMB6,300 million.

21Vianet Group (Nasdaq: VNET), a leading data center services provider in China, is set to release its first quarter 2021 financial results on May 25, 2021, after market close. The company will conduct a conference call at 8:00 PM ET on the same day to discuss the results. Participants must register online to access details and receive dial-in instructions. 21Vianet operates over 20 cities in China, offering services to more than 6,000 enterprise customers across various industries, enhancing their internet infrastructure's reliability and security.

21Vianet Group, Inc. (Nasdaq: VNET) announced the filing of its annual report containing audited consolidated financial statements for the fiscal year ended December 31, 2020. The report was submitted to the SEC on April 28, 2021. It highlights the company's role as a leading carrier- and cloud-neutral Internet data center services provider in China, servicing over 6,000 enterprise customers across various industries. Additionally, the company issued its initial ESG report, available on its investor relations website, further emphasizing its commitment to sustainability.

21Vianet Group, Inc. (Nasdaq: VNET) announces a leadership change as Tim Chen steps in as Chief Financial Officer, succeeding Sharon Xiao Liu, who will serve as an advisor until June 2021. The company also celebrated its 25th anniversary and a decade on NASDAQ, reflecting its growth. Chen, previously the Chief Strategy Officer, emphasized 21Vianet's critical role in China's data center market, fueled by government-led digitization and rising demand. The company is focused on expanding its wholesale business, targeting an annual capacity of 25,000 cabinets.

21Vianet Group has announced a share repurchase agreement to buy 48,634,493 Class B ordinary shares from Tuspark for approximately $260 million, equating to $5.346 each. This buyback aims to enhance shareholder value and reflects the company's confidence in its growth strategy, particularly in driving innovation for sustainable data centers. Following this transaction, a Tuspark-appointed director will resign and remaining shares will convert to Class A shares, while Tuspark will retain under 5% ownership.

21Vianet Group, a leading provider of Internet data center services in China, reported its fourth quarter 2020 results with net revenues of RMB1.35 billion (US$206.6 million), a 28.6% increase year-over-year. Adjusted cash gross profit rose 36.6% to RMB581.9 million (US$89.2 million), while adjusted EBITDA surged 47.7% to RMB389.8 million (US$59.7 million). However, the company reported a significant net loss attributable to shareholders of RMB1.02 billion (US$155.6 million), largely due to fair value changes of convertible promissory notes. Looking ahead, net revenue guidance for Q1 2021 is set between RMB1,375 million and RMB1,395 million.

21Vianet Group, Inc. (Nasdaq: VNET) announced its plans to release fourth quarter and full year 2020 financial results on March 23, 2021. The earnings report will be followed by a conference call at 8:30 P.M. EST. Participants must register online to receive call details and dial-in numbers. The conference call will also be available as a replay until March 31, 2021. 21Vianet, a leading Internet data center services provider in China, supports over 6,000 enterprise customers across various industries, enhancing their Internet infrastructure reliability and security.

21Vianet Group, Inc. (Nasdaq: VNET) has announced a Notes Offering of US$525 million in convertible senior notes due 2026. The company has granted initial purchasers a 13-day option to acquire an additional US$75 million. Proceeds will be used for data center expansion, repaying senior notes due in 2021, and general corporate purposes. The notes have a conversion rate of 18.3574 ADSs per US$1,000, reflecting a 40% conversion premium over the last closing price. The closing is expected by January 26, 2021.

21Vianet Group, Inc. (Nasdaq: VNET) announced a proposed offering of US$525 million in convertible senior notes due 2026, with an additional US$75 million option for initial purchasers. The proceeds will be used for enhancing data center infrastructure and repaying senior notes due 2021. The notes will be convertible into cash, American Depositary Shares (ADSs), or a mix of both. This offering is subject to market conditions and lacks an assurance of completion.