VNET Group, Inc. American Depositary Shares - VNET STOCK NEWS

VNET Group, Inc. (NASDAQ: VNET) announced the filing of its annual report on Form 20-F for the fiscal year ending December 31, 2022, with the SEC on April 26, 2023. The report includes audited consolidated financial statements accessible on the SEC's website and the Company's investor relations page. VNET is recognized as a leading carrier- and cloud-neutral internet data center services provider in China, offering a range of services including hosting, IDC, cloud services, and business VPN to improve internet infrastructure reliability and security. The Company operates across more than 30 cities in China, catering to a diverse clientele of over 7,000 enterprise customers.

On April 24, 2023, VNET Group announced the release of its 2022 Environmental, Social and Governance (ESG) Report, showcasing performance and sustainability initiatives. In 2022, VNET enhanced its SHIELD sustainability system, raising its MSCI ESG rating to 'A', the top rank in China's Internet Services & Infrastructure sector. Key highlights include:

• Average annual power usage effectiveness (PUE) of 1.37.
• Green power purchase agreement with CGN Solar Energy for approximately 4 million kWh in 2023.
• Green data center certifications for eight facilities.
• No major operational disruptions and network outages.
• ISO 37001 Anti-bribery certification.
• 100% employee information security training coverage.
• 29% of management positions occupied by women.

For more details, visit VNET's Investor Relations.

Bloomberg has enhanced its services for clients using Microsoft Azure by providing access to both real-time trading data and comprehensive historical datasets through a private connection in the Azure Virtual Network (VNet). This offering includes B-PIPE, Bloomberg's real-time market data feed, which connects clients to over 50 million instruments and 80 billion ticks daily. Clients can now utilize Bloomberg's Data License content, which includes various financial datasets, to streamline workflows and improve decision-making. The integration aims to facilitate secure data access and reduce infrastructure costs for firms, thereby supporting investment strategies in a volatile market.

VNET Group, Inc. (Nasdaq: VNET) reported its financial results for Q4 and full year 2022, showing 7.7% revenue growth year-over-year to RMB 1.88 billion (US$ 272.7 million). Despite achieving 14.1% annual revenue growth to RMB 7.07 billion (US$ 1.02 billion), the company faced challenges with a net loss of RMB 64.2 million in Q4 2022, contrasted by a loss of RMB 27.3 million in Q4 2021. Adjusted EBITDA declined 8.3% year-over-year to RMB 424.3 million (US$ 61.5 million), with an adjusted EBITDA margin of 22.6%. The company expressed optimism for 2023 with projected revenues between RMB 7,600 million and RMB 7,900 million.

The APAC data center construction market is projected to grow from $15.17 billion in 2022 to $24.17 billion by 2028, at a CAGR of 8.07%. This growth is driven by governmental support, industrial zone development, and significant investments from cloud service providers. Emerging markets like the Philippines and Vietnam are also attracting interest. Operators are increasingly adopting renewable energy solutions. The deployment of 5G and rising digitalization are key trends, while M&As are boosting market growth. Major players include Chindata Group (CD), Sify Technologies (SIFY), and VNET. Infrastructure advancements are expected as well.

VNET Group, Inc. (Nasdaq: VNET), a prominent internet data center services provider in China, will disclose its unaudited financial results for the fourth quarter and full year 2022 on March 21, 2023, after U.S. market close. An earnings conference call will follow at 9:00 PM ET on the same day, or 9:00 AM Beijing Time on March 22. Participants can register online to receive dial-in details. VNET serves over 6,500 enterprise customers across more than 30 cities in China, offering services that enhance the reliability and security of internet infrastructure.