VNET GROUP INC Stock Price, News & Analysis

21Vianet Group, a major carrier- and cloud-neutral Internet data center service provider in China, announced the resignation of COO Chunfeng Cai, effective October 1, 2021, due to personal reasons. CEO Samuel Shen expressed gratitude for Cai's contributions, particularly in implementing a dual-core strategy in the IDC market. 21Vianet operates across more than 20 cities in China, servicing over 6,000 clients from various industries, and remains focused on providing reliable hosting and cloud services.

21Vianet Group, a leading Internet data center services provider in China, reported a 30.8% increase in net revenues for Q2 2021, totaling RMB1.50 billion (US$231.9 million). Adjusted EBITDA rose by 38.7% to RMB425.1 million (US$65.8 million), exceeding prior guidance. The company's cash gross profit increased by 36.9% to RMB640.2 million (US$99.2 million), reflecting strong operational efficiency. For Q3 2021, net revenue guidance is set at RMB1.53-1.55 billion, anticipating a year-over-year growth of 28.4%.

21Vianet Group, Inc. (Nasdaq: VNET), a top provider of Internet data center services in China, is set to release its Q2 2021 financial results on August 24, 2021, post-market closure. An investor conference call will be conducted at 8 PM U.S. Eastern Time on the same day to discuss these results. Participants need to register online to receive call details and access dial-in numbers. A playback of the call will be available until September 1, 2021. The company's robust infrastructure supports over 6,000 clients across diverse sectors.

21Vianet Group, Inc. (Nasdaq: VNET) announced that its Founder and Executive Chairman, Josh Sheng Chen, has confirmed a purchase agreement where Beacon Capital Group Inc. will acquire 17,140,898 Class A ordinary shares from Tuspark Innovation Venture Limited for approximately US$50 million, at a price of US$2.917 per share. Chen expressed confidence in the company's long-term prospects through this increased shareholding, while Tuspark indicated the sale aligns with their planned exit strategy.

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.