VNET Group, Inc.
NASDAQ Global SelectCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Company Description
- CEO
- Sheng Chen
- Full Time Employees
- 2,784
- Sector
- Technology
- Industry
- Information Technology Services
- Address
- Guanjie Building Beijing BE People's Republic of China 100016
- IPO Date
- Apr 21, 2011
- CIK
- 0001508475
- Website
- ir.vnet.com
- Similar Companies
- Business
- VNET Group, Inc. (Nasdaq: VNET) operates as a leading carrier-neutral Internet data center services provider in China, offering a comprehensive suite of data center services including colocation, bare metal servers, managed hosting, cloud computing infrastructure, and hybrid cloud solutions; it also provides connectivity services such as direct internet access, dedicated lines, MPLS VPN, SD-WAN, and value-added services including cloud security, disaster recovery, and big data analytics. The company serves enterprise customers across industries like financial services, e-commerce, telecommunications, government, gaming, and healthcare, with data centers strategically located in major Chinese cities including Beijing, Shanghai, Shenzhen, Hefei, and Ulanqab, as well as international operations in Hong Kong and select Southeast Asian markets. Founded in 1999 and headquartered in Beijing, China, VNET manages over 30 data centers with more than 100,000 racks of capacity and maintains key subsidiaries such as VNET (Jinan) Data Center Co., Ltd. and VNET Hong Kong Limited. In recent developments, VNET completed a significant debt restructuring in late 2023 by converting approximately $1.5 billion of offshore bonds into equity, substantially deleveraging its balance sheet; it launched its "Level 3" green data center initiative in Ulanqab in 2024, emphasizing sustainable energy use with PUE below 1.3; and formed strategic partnerships, including a 2025 collaboration with GDS Holdings for joint cloud infrastructure expansion and a renewed alliance with Tencent Cloud for AI-ready data center services. These moves support VNET's strategic shift toward high-density computing for AI workloads and edge computing expansion amid China's digital economy growth.
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