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VNET Group, Inc., trading under the symbol VNET on Nasdaq, is a premier carrier-neutral internet data center services provider in China. Founded in 1999 as AsiaCloud, VNET transitioned to data center operations with its first self-developed center opening in 2010. The company offers an array of services including hosting, managed network services, cloud services, content delivery network services, last-mile wired broadband services, and business VPN services. These services enhance the reliability, security, and speed of its customers' internet infrastructure.
The company's extensive network allows customers to locate their servers and networking equipment within VNET's data centers and seamlessly connect to China's internet backbone. Utilizing proprietary smart routing technology, VNET ensures faster and more reliable data delivery across the internet.
VNET operates in over 30 cities throughout China, catering to a diversified and loyal customer base of more than 7,500 enterprises. These customers range from internet companies and government entities to blue-chip enterprises and small- to mid-sized businesses. Among VNET's key clients are major Chinese hyperscalers such as Alibaba Cloud, Tencent Cloud, and Huawei Cloud.
As of March 2024, the company boasts 48,503 self-built retail cabinets, predominantly located in Beijing, Shanghai, and the Greater Bay area. Additionally, VNET has 332 MW of wholesale capacity in service, with a further 139 MW under construction and 557 MW reserved for future development.
Recent notable achievements include the successful repurchase of $600 million in convertible senior notes due 2026, demonstrating VNET's commitment to long-term strategic execution. The company's 2023 Environmental, Social, and Governance (ESG) report highlights its sustainability efforts, green business practices, and gains in digital empowerment and social responsibility. VNET continues to prioritize sustainable growth and value creation for its stakeholders.
For the latest news and financial performance updates, visit the company’s investor relations website or access documents filed with the U.S. Securities and Exchange Commission.
VNET Group announced a proposed offering of senior notes, subject to market conditions. The proceeds from the offering will be aimed at funding capital needs and general corporate purposes. The notes are expected to be rated B2 by Moody’s and B by S&P, and will be unsecured obligations of VNET. The offering will target qualified institutional buyers and non-U.S. persons outside the United States, adhering to U.S. Securities regulations. Completion of the offering is not guaranteed.
On October 8, 2021, 21Vianet Group, Inc. (VNET) held an Extraordinary General Meeting in Beijing, where shareholders approved a special resolution to change the company's name to VNET Group, Inc. This decision is effective immediately. VNET is recognized as a leading carrier- and cloud-neutral Internet data center services provider in China, offering a range of services including cloud and IDC services to a diverse client base across various industries. The company operates in over 20 cities and serves more than 6,000 enterprise customers.
21Vianet Group, Inc. (Nasdaq: VNET) announced recognition for its data centers in Beijing and Nantong as 5A Green Data Centers at the 2021 Open Data Center Summit. This rating, the highest in China, evaluates energy efficiency and innovation in green management. The Foshan Data Center received an award for innovative carbon emission reduction. CEO Samuel Shen highlighted the company's commitment to a green development framework aligned with China's carbon goals for 2030 and 2060, underscoring the focus on reducing emissions and enhancing sustainable operations.
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.
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