Chen Sheng discloses large indirect VNET (VNET) shareholdings on Form 3

Rhea-AI Filing Summary

VNET Group, Inc. executive chairperson and interim CEO Chen Sheng filed an initial ownership report showing indirect holdings of the company’s ordinary shares through several controlled entities. This is a disclosure of existing positions, not a new share purchase or sale.

The filing lists Class A ordinary share holdings of 1,479,660 shares through Zentribe Capital (BVI) Limited, 33,628,927 shares through GenTao Capital Limited, 34,744,206 shares through Beacon Capital Group Inc. and 4 shares through Personal Group Limited. It also reports Class B ordinary shares of 19,670,117 shares through Fast Horse Technology Limited, 8,087,875 shares through Sunrise Corporate Holding Ltd. and 769,486 shares through Personal Group Limited, plus 60,000 Class C ordinary shares through Personal Group Limited.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Chen Sheng

(Last) (First) (Middle)

GUANJIE BUILDING SOUTHEAST 1ST FL 10#

JIUXIANQIAO EAST ROAD, CHAOYANG DISTRICT

(Street)

BEIJING F4 100016

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/17/2026

3. Issuer Name and Ticker or Trading Symbol
VNET Group, Inc. [ VNET ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Exec. Chairperson & Int. CEO

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A ordinary shares	1,479,660	I	By Zentribe Capital (BVI) Limited(1)
Class A ordinary shares	33,628,927	I	By GenTao Capital Limited(1)
Class A ordinary shares	34,744,206	I	By Beacon Capital Group Inc.(1)
Class A ordinary shares	4	I	By Personal Group Limited(1)
Class B ordinary shares	19,670,117	I	By Fast Horse Technology Limited(1)
Class B ordinary shares	8,087,875	I	By Sunrise Corporate Holding Ltd.(1)
Class B ordinary shares	769,486	I	By Personal Group Limited(1)
Class C ordinary shares	60,000	I	By Personal Group Limited(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Each of Zentribe Capital (BVI) Limited, GenTao Capital Limited, Beacon Capital Group Inc., Personal Group Limited, Fast Horse Technology Limited and Sunrise Corporate Holding Ltd. is solely owned by the reporting person.

	/s/ Sheng Chen	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What does Chen Sheng’s Form 3 filing for VNET (VNET) show?

The Form 3 shows Chen Sheng’s existing indirect ownership in VNET Group, Inc. through several wholly owned entities. It lists substantial Class A, B and C ordinary share positions and serves as his initial beneficial ownership disclosure as an executive and director.

Did Chen Sheng buy or sell VNET (VNET) shares in this Form 3?

No, the Form 3 does not report any new buy or sell transactions. It only discloses Chen Sheng’s indirect holdings of VNET ordinary shares through entities he solely owns, establishing his baseline ownership position as of the reporting date.

How many VNET (VNET) Class A shares are reported as indirectly owned?

The filing reports 1,479,660 Class A ordinary shares through Zentribe Capital (BVI) Limited, 33,628,927 through GenTao Capital Limited, 34,744,206 through Beacon Capital Group Inc. and 4 through Personal Group Limited, all indirectly owned via entities solely owned by Chen Sheng.

What Class B and Class C VNET (VNET) shares are disclosed in the Form 3?

The Form 3 lists 19,670,117 Class B ordinary shares through Fast Horse Technology Limited, 8,087,875 through Sunrise Corporate Holding Ltd., 769,486 through Personal Group Limited, plus 60,000 Class C ordinary shares through Personal Group Limited, all held indirectly through entities solely owned by Chen Sheng.

How are Chen Sheng’s VNET (VNET) holdings structured according to the filing?

Chen Sheng’s holdings are structured entirely as indirect ownership through multiple entities, including Zentribe Capital, GenTao Capital, Beacon Capital Group, Personal Group, Fast Horse Technology and Sunrise Corporate Holding, each described as being solely owned by him in the footnotes.