VNET GROUP INC Stock Price, News & Analysis

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.

On December 14, 2020, 21Vianet Group, Inc. (Nasdaq: VNET) announced the resignation of Mr. Tao Zou from its board of directors due to personal reasons. His resignation was not linked to any disagreements regarding company operations. Following this change, the board is now composed of seven members, including five independent directors, as King Venture Holdings Limited no longer has director nomination rights under their Investor Rights Agreement. The company continues to be a leading data center services provider in China, serving over 6,000 enterprise customers.

21Vianet Group, Inc. (VNET) reported a strong Q3 2020, with net revenues increasing by 27% to RMB1.25 billion (US$183.5 million). Adjusted cash gross profit rose by 32.6% to RMB526.2 million (US$77.5 million), resulting in a gross margin of 42.2%. Adjusted EBITDA also grew by 35.2% to RMB368.5 million (US$54.3 million). The company improved its operational metrics, adding 7,426 cabinets to reach 51,476 total. For Q4 2020, VNET expects revenues of RMB1.32 billion to RMB1.34 billion, reflecting ongoing demand for its data center services amidst a strong growth outlook.

21Vianet Group, Inc. (Nasdaq: VNET) will announce its third quarter 2020 financial results on November 24, 2020, after market close, followed by a conference call at 8:00 P.M. ET. Participants must register online to receive call details. A replay of the call will be available until December 2, 2020. 21Vianet is a leading Internet data center services provider in China, offering various hosting and cloud services to nearly 5,000 customers across different sectors. The company operates in over 20 cities in China, ensuring reliable Internet infrastructure for its clients.

21Vianet Group, a leading data center services provider in China, has announced significant leadership changes aimed at driving growth. The Board of Directors has appointed three executives as Chief Executive Officers for different business units: Samuel Shen as Group CEO, Alvin Wang as Wholesale IDC CEO, and Chunfeng Cai as Retail IDC CEO. Effective January 1, 2021, this restructuring is intended to leverage cross-functional expertise to support the company’s three-year growth strategy in the wholesale and retail markets.