Core Insights - VNET Group, Inc. has received high ESG ratings from MSCI and S&P Global, highlighting its leadership in sustainable development and carbon neutrality [1][2][3] ESG Performance - VNET achieved an ESG rating of A from MSCI for the third consecutive year, with improved performance in clean tech, human capital development, and privacy & data security [2] - The company's score in the 2024 S&P Global Corporate Sustainability Assessment rose by 17 points to 70, ranking in the top 5% of the IT services industry globally and maintaining the highest position in China's IT services sector for three years [3] Company Vision and Commitment - The company emphasizes the importance of ESG in its vision for sustainable growth and aims to deepen its commitment to a low-carbon digital future [4] - VNET's services include hosting, IDC, cloud services, and business VPN services, catering to over 7,000 enterprise customers across various industries [5]

BEIJING, Nov. 28, 2024 /PRNewswire/ -- VNET Group, Inc. (Nasdaq: VNET) ("VNET" or the "Company"), a leading carrier- and cloud-neutral internet data center services provider in China, today announced that the Company has executed a definitive agreement (the "Agreement") with Dajia Investment Holding Company Ltd. ("Dajia"), a wholly owned subsidiary of Dajia Insurance Group under which both parties will jointly form a pre-REITs fund (the "Fund") to invest in hyperscale data centers in mainland China. This in ...

VNET Group, Inc. (NASDAQ: VNET ) reported Q3 2024 results that beat on both the top and bottom line, driven by strength in wholesale IDC that was offset by the softness in retail. Consistent with the theme that weAstrada Advisors delivers actionable recommendations that enhance portfolio performance and uncover alpha opportunities, supported by a strong track record in investment research at leading global investment banks. With expertise spanning technology, media, internet, and consumer sectors in North A ...

Financial Data and Key Metrics Changes - The company reported a 12.4% year-over-year increase in net revenues to RMB 2.12 billion, driven by the growth of the wholesale IDC business [11][41] - Adjusted EBITDA increased by 20.2% year-over-year to RMB 595 million, attributed to cost and resource allocation optimization [11][41] - The net profit for Q3 2024 was RMB 332 million, a significant improvement from a net loss of RMB 40 million in the same period last year [44] Business Line Data and Key Metrics Changes - Wholesale IDC business revenues increased by 86.4% year-over-year to RMB 523 million, driven by strong demand [11][45] - Retail IDC revenues remained stable, increasing sequentially by 1.1% to RMB 975 million [46] - The utilization rate of the wholesale business rose to 78%, with mature capacity utilization reaching 95.6% [13][29] Market Data and Key Metrics Changes - The company secured 6 new orders totaling 84 megawatts during the quarter, primarily driven by AI workload-related requests [15][61] - Over 98% of the wholesale capacity is capable of meeting high-performance computing power requirements, reflecting the growing demand for AI applications [18] Company Strategy and Development Direction - The company plans to expand its wholesale data center capacity to approximately 1 gigawatt to solidify its leadership position in the data center services sector [33] - The Huailai IDC campus is positioned as a green, scalable campus focused on AI-driven workloads, with plans to accommodate both training and inference services [21][79] - The Ulanqab green energy project is expected to enhance the company's green energy usage and support long-term customer relationships [26][68] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued growth of the wholesale business, anticipating a stable pricing environment and improved ROI due to economies of scale [65][66] - The company expects to deliver approximately 287 megawatts in the wholesale business over the next 12 months, reflecting robust demand [75] Other Important Information - The company maintained a healthy cash position with total cash equivalents reaching RMB 2.1 billion [48] - CapEx for the first 9 months of 2024 was RMB 3.35 billion, with expectations to reach the high end of guidance around RMB 5.5 billion for the full year [50][51] Q&A Session Summary Question: What is driving the demand for new orders and how is pricing affected? - The demand is primarily driven by AI computing needs, with 90% of new orders related to AI workloads. Pricing for new orders remains consistent with previous orders, with expectations for gradual stability and potential increases [61][65] Question: Can you provide details on the Ulanqab green energy project and its impact on pricing and margins? - The Ulanqab project is expected to generate 700 million kilowatt hours of green electricity annually, significantly increasing the proportion of green energy used and improving margins [68][69] Question: What is the current status of the pre-REIT project in Taicang? - The utilization rate for the Taicang project is around 50%, with expectations to reach 95% by the end of next year, generating an EBITDA of approximately RMB 570 million [72] Question: What is the outlook for demand in the Ulanqab and Huailai regions? - The Ulanqab campus is positioned as a green, scalable campus for AI workloads, while the Huailai campus is expected to accommodate both training and inference workloads, with plans for significant expansion in both regions [78][79] Question: What are the key drivers for the improved gross profit margin? - The increase in gross profit margin is attributed to optimization of IDC centers, a higher share of wholesale business, and adjustments to discount terms [81][82]

Exhibit 99.1 VNET Reports Unaudited Third Quarter 2024 Financial Results BEIJING, November 20, 2024 /PRNewswire/ -- VNET Group, Inc. (Nasdaq: VNET) ("VNET" or the "Company"), a leading carrier- and cloud-neutral internet data center services provider in China, today announced its unaudited financial results for the third quarter ended September 30, 2024. "We achieved strong third quarter results mainly driven by our wholesale IDC business," said Josh Sheng Chen, Founder, Executive Chairperson and interim Ch ...

BEIJING, Nov. 20, 2024 /PRNewswire/ -- VNET Group, Inc. (Nasdaq: VNET) ("VNET" or the "Company"), a leading carrier- and cloud-neutral internet data center services provider in China, today announced its unaudited financial results for the third quarter ended September 30, 2024."We achieved strong third quarter results mainly driven by our wholesale IDC business," said Josh Sheng Chen, Founder, Executive Chairperson and interim Chief Executive Officer of VNET. "Our wholesale IDC business maintained its stro ...

BEIJING, Nov. 7, 2024 /PRNewswire/ -- VNET Group, Inc. (Nasdaq: VNET) ("VNET" or the "Company"), a leading carrier- and cloud-neutral internet data center services provider in China, today announced that it will report its unaudited third quarter 2024 financial results on Wednesday, November 20, 2024, after the close of U.S. markets.The Company's management will host an earnings conference call at 8:00 PM U.S. Eastern Time on Wednesday, November 20, 2024, or 9:00 AM Beijing Time on Thursday, November 21, 20 ...

BEIJING, Nov. 1, 2024 /PRNewswire/ -- VNET Group, Inc. (Nasdaq: VNET) ("VNET" or the "Company"), a leading carrier- and cloud-neutral internet data center services provider in China, today announced the resignation of Mr. Changqing Ye as an independent director and a member of the audit committee of the Company's board of directors (the "Board"), effective October 31, 2024. Mr. Ye resigned for personal reasons and not due to any disagreement with the Board, the Company or any of its affiliates on any matter ...

| --- | --- | |-------------------------------------------------|------------------------------| | 交银国际研究 消息快报 | | | | | | 数据中心 | 2024 年 9 月 11 日 | | 世纪互联 (VNET US) | | | 上架加快， AI 算力驱动基地型 IDC 业务增长 | | 我们最近与世纪互联管理层举行了一次业绩后会议，以更新 2024 下半年 的运营情况和前景： 指引保持不变，预计 2024 下半年净利润可保持稳定。2024 年 2 季度公司 收入 19.9 亿元（人民币，下同），同比增长 9.4%；经调整 EBITDA 为 5.74 亿元，同比提高 7.3%，净利润扭亏为盈至 0.72 亿元，公司预计 2024 下半 年及 2025 年仍能保持净利润。同时，公司维持全年业绩指引不变，预计 2024 年收入在 78-80 亿元之间，同比增速在 5.2%-7.9%；预计调整后 EBITDA 在 22.2-22.8 亿元之间，同比增速在 8.9%-11.8%之间。 AI 算力驱动基地型 ...

Investors with an interest in Internet - Services stocks have likely encountered both 21Vianet (VNET) and The Trade Desk (TTD) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank emphasizes companies with pos ...