VNET Group, Inc., an investment holding company, provides hosting and related services to Internet companies, government entities, blue-chip enterprises, and small-to mid-sized enterprises in the People's Republic of China. It offers hosting and related services to house servers and networking equipment in its data centers, and connects them through a data transmission network. The company's hosting and related services include managed hosting services that offer data center space to house its customers' servers and networking equipment, and provide tailored server administration services; and interconnectivity services that enable customers to connect their servers with internet backbones and other networks through its border gateway protocol network or single-line, dual-line, or multiple-line network. Its hosting and related services also comprise cloud services that enable businesses to run their applications over the internet using its IT infrastructure; virtual private network services; hybrid IT Services, which provide customers with a complete package of infrastructure service offerings; and other value-added services, such as firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services. In addition, the company provides traffic charts and analysis, gateway monitoring for servers, domain name system setup, defense mechanism against distributed denial of service attacks, basic setting of switches and routers, and virus protections; and managed network service. As of December 31, 2020, it operated 32 self-built data centers housing 49,876 cabinets and 52 partnered data centers housing with 3,677 cabinets. It has a strategic partnership with Microsoft Corporation. The company was formerly known as 21Vianet Group, Inc. and changed its name to VNET Group, Inc. in October 2021. VNET Group, Inc. was founded in 1999 and is headquartered in Beijing, the People's Republic of China.
IPO Year: 2011
Exchange: NASDAQ
Website: 21vianet.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/9/2024 | $5.20 | Hold → Buy | HSBC Securities |
| 3/19/2024 | $3.90 → $2.70 | Neutral → Buy | BofA Securities |
| 7/7/2023 | $3.40 | Neutral | BofA Securities |
| 6/12/2023 | $6.60 → $2.90 | Buy → Hold | HSBC Securities |
| 9/1/2022 | $7.20 → $5.90 | Outperform → Neutral | Credit Suisse |
| 5/25/2022 | $6.50 | Sell → Neutral | Goldman |
| 11/22/2021 | $17.39 | Hold → Buy | HSBC Securities |
| 11/19/2021 | $32.79 → $11.50 | Buy → Sell | Goldman |
| 10/11/2021 | $18.50 | Hold | HSBC Securities |
| 8/25/2021 | $43.00 → $33.00 | Buy | Citigroup |
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 strong growth momentum as we capitalized on rising AI-driven demand. We also continued attracting high-quality customers during the third quarter, with six new order wins totaling 84MW. Notab
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, 2024. For participants who wish to join the call, please access the links provided below to complete the online registration process. English line:https://s1.c-conf.com/diamondpass/10043189
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 relating to the Company's operations, policies or practices. The Board has approved that Mr. Kenneth Chung-Hou Tai, who has served as an independent director of VNET since October 2012, w
BEIJING, Aug. 27, 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 second quarter ended June 30, 2024. "We delivered another solid quarter through continued strong execution of our effective dual-core development strategy," said Josh Sheng Chen, Founder, Executive Chairperson and interim Chief Executive Officer of VNET. "The wholesale IDC business remained our key growth driver, highlighted by three new orders totaling 235MW for our Ulanqab IDC Campus in the Greater Beijing Area. Climbing utilization rates and a high pre-
BEIJING, Aug. 16, 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 second quarter 2024 financial results on Tuesday, August 27, 2024, after the close of U.S. markets. The Company's management will host an earnings conference call at 9:00 PM U.S. Eastern Time on Tuesday, August 27, 2024, or 9:00 AM Beijing Time on Wednesday, August 28, 2024. For participants who wish to join the call, please access the links provided below to complete the online registration process. English line:https://s1.c-conf.com/diamondpass/10041484-y4obcl
BEIJING, July 30, 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. Erhfei Liu as an independent director of the Company's board of directors (the "Board"), effective July 24, 2024. Mr. Liu resigned for personal reasons and not due to any disagreement with the Board, the Company or any of its affiliates on any matter relating to the Company's operations, policies or practices. The Board has approved the appointment of Mr. David Lifeng Chen as a new independent director of the Board, effective immediately. The Board has reviewed the indepen
BEIJING, July 11, 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 special committee of the Company's board of directors (the "Special Committee") received a letter dated July 10, 2024 from Mr. Josh Sheng Chen ("Mr. Chen"), Founder, Co-Chairperson and interim Chief Executive Officer of VNET, stating that Mr. Chen had determined not to proceed with his preliminary non-binding proposal dated September 13, 2022 to acquire all of the outstanding ordinary shares of the Company (the "Founder Proposal") and the Founder Proposal was withdrawn with immediate eff
BEIJING, July 8, 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 refinancing of the margin loan facility provided by Bold Ally (Cayman) Limited (the "Bold Ally Loan") to Mr. Josh Sheng Chen ("Mr. Chen"), Founder, Co-Chairperson and interim Chief Executive Officer of VNET. The Bold Ally Loan was procured by Mr. Chen in or around August 2021 to finance his purchase of 17,140,898 Class A ordinary shares from another significant shareholder at the time, and was secured by the ordinary shares beneficially owned by Mr. Chen in the Company. With reference to the
BEIJING, May 29, 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 first quarter ended March 31, 2024. "2024 is off to a promising start thanks to continued strong execution of our dual-core, high-quality development strategy during the first quarter," said Josh Sheng Chen, Founder, Co-chairperson and interim Chief Executive Officer of VNET. "Our IDC business gained momentum as we won bids from new and existing customers and captured increasing AI-driven demand from a wide variety of industries. Notably, we secured a new o
BEIJING, May 22, 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 first quarter 2024 financial results on Wednesday, May 29, 2024, after the close of U.S. markets. The Company's management will host an earnings conference call at 9:00 PM U.S. Eastern Time on Wednesday, May 29, 2024, or 9:00 AM Beijing Time on Thursday, May 30, 2024. For participants who wish to join the call, please access the link provided below to complete the online registration process and dial in 5 minutes prior to the scheduled call start time. Event Titl
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HSBC Securities upgraded VNET Group from Hold to Buy and set a new price target of $5.20
BofA Securities upgraded VNET Group from Neutral to Buy and set a new price target of $2.70 from $3.90 previously
BofA Securities resumed coverage of VNET Group with a rating of Neutral and set a new price target of $3.40
HSBC Securities downgraded VNET Group from Buy to Hold and set a new price target of $2.90 from $6.60 previously
Credit Suisse downgraded VNET Group from Outperform to Neutral and set a new price target of $5.90 from $7.20 previously
Goldman upgraded VNET Group from Sell to Neutral and set a new price target of $6.50
HSBC Securities upgraded 21Vianet from Hold to Buy and set a new price target of $17.40
Goldman downgraded 21Vianet from Buy to Sell and set a new price target of $11.50 from $32.80 previously
HSBC Securities initiated coverage of 21Vianet with a rating of Hold and set a new price target of $18.50
Citigroup reiterated coverage of 21Vianet Group with a rating of Buy and set a new price target of $33.00 from $43.00 previously
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 strong growth momentum as we capitalized on rising AI-driven demand. We also continued attracting high-quality customers during the third quarter, with six new order wins totaling 84MW. Notab
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, 2024. For participants who wish to join the call, please access the links provided below to complete the online registration process. English line:https://s1.c-conf.com/diamondpass/10043189
BEIJING, Aug. 27, 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 second quarter ended June 30, 2024. "We delivered another solid quarter through continued strong execution of our effective dual-core development strategy," said Josh Sheng Chen, Founder, Executive Chairperson and interim Chief Executive Officer of VNET. "The wholesale IDC business remained our key growth driver, highlighted by three new orders totaling 235MW for our Ulanqab IDC Campus in the Greater Beijing Area. Climbing utilization rates and a high pre-
BEIJING, Aug. 16, 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 second quarter 2024 financial results on Tuesday, August 27, 2024, after the close of U.S. markets. The Company's management will host an earnings conference call at 9:00 PM U.S. Eastern Time on Tuesday, August 27, 2024, or 9:00 AM Beijing Time on Wednesday, August 28, 2024. For participants who wish to join the call, please access the links provided below to complete the online registration process. English line:https://s1.c-conf.com/diamondpass/10041484-y4obcl
BEIJING, May 29, 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 first quarter ended March 31, 2024. "2024 is off to a promising start thanks to continued strong execution of our dual-core, high-quality development strategy during the first quarter," said Josh Sheng Chen, Founder, Co-chairperson and interim Chief Executive Officer of VNET. "Our IDC business gained momentum as we won bids from new and existing customers and captured increasing AI-driven demand from a wide variety of industries. Notably, we secured a new o
BEIJING, May 22, 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 first quarter 2024 financial results on Wednesday, May 29, 2024, after the close of U.S. markets. The Company's management will host an earnings conference call at 9:00 PM U.S. Eastern Time on Wednesday, May 29, 2024, or 9:00 AM Beijing Time on Thursday, May 30, 2024. For participants who wish to join the call, please access the link provided below to complete the online registration process and dial in 5 minutes prior to the scheduled call start time. Event Titl
BEIJING, March 14, 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 fourth quarter and full year 2023 financial results on Wednesday, March 27, 2024, after the close of U.S. markets. The Company's management will host an earnings conference call at 9:00 PM U.S. Eastern Time on Wednesday, March 27, 2024, or 9:00 AM Beijing Time on Thursday, March 28, 2024. For participants who wish to join the call, please access the link provided below to complete the online registration process and dial in 5 minutes prior to the scheduled call
BEIJING, Nov. 15, 2023 /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, 2023. "We recorded another solid performance in the third quarter of 2023, highlighted by smooth and timely deliveries of approximately 3,500 cabinets as well as new order wins for our reliable services," said Jeff Dong, Chief Executive Officer of VNET. "Notably, we extended a wholesale contract for 45MW of capacity with an existing internet giant customer in August. Computing power needs have surged under rapid AI develop
BEIJING, Aug. 23, 2023 /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 second quarter ended June 30, 2023. "During the second quarter of 2023, we delivered another solid set of results as we continued to execute our proven dual-core growth strategy, which reaffirms our ability to quickly capture incremental market demand amid the steady economic recovery," said Jeff Dong, Chief Executive Officer of VNET. "We also saw some new AI application scenarios emerging across various industry verticals in China, starting to generate mor
BEIJING, Aug. 10, 2023 /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 second quarter 2023 financial results on Wednesday, August 23, 2023, after the close of U.S. markets. The Company's management will host an earnings conference call at 9:00 PM U.S. Eastern Time on Wednesday, August 23, 2023, or 9:00 AM Beijing Time on Thursday, August 24, 2023. For participants who wish to join the call, please access the link provided below to complete the online registration process and dial in 5 minutes prior to the scheduled call start time.
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Gainers Ascent Solar Technologies (NASDAQ:ASTI) stock moved upwards by 33.9% to $0.16 during Monday's regular session. The company's market cap stands at $10.4 million. Coherent (NYSE:COHR) stock rose 16.5% to $66.47. The company's market cap stands at $10.1 billion. Transact Technologies (NASDAQ:TACT) shares rose 14.64% to $4.07. The market value of their outstanding shares is at $40.6 million. VNET Gr (NASDAQ:VNET) shares rose 13.39% to $2.2. The company's market cap stands at $579.0 million. The company's, Q1 earnings came out 3 days ago. Soluna Holdings (NASDAQ:SLNHP) stock rose 12.01% to $3.17. Inuvo (AMEX:INUV) shares increased by 10.98% to $0.28. The market value of their outsta
VNET Gr (NASDAQ:VNET) reported quarterly losses of $(0.12) per ADS which missed the analyst consensus estimate of $(0.02) by 500 percent.
Business OutlookThe Company expects total net revenues for 2024 to be between RMB7,800 million to RMB8,000 million, representing year-over-year growth of 5.2% to 7.9%, and adjusted EBITDA (non-GAAP) to be in the range of RMB2,220 million to RMB2,280 million, representing year-over-year growth of 8.9% to 11.8%. The above outlook remains unchanged from the previously provided estimates.The forecast reflects the Company's current and preliminary views on the market and its operational conditions and is subject to change.
VNET (NASDAQ:VNET) reported quarterly sales of $262.90 million which missed the analyst consensus estimate of $267.55 million by 1.74 percent. This is a 0.02 percent decrease over sales of $262.94 million the same period last year.
Gainers Ostin Technology Group (NASDAQ:OST) shares moved upwards by 9.6% to $0.46 during Friday's pre-market session. The company's market cap stands at $6.8 million. Sobr Safe (NASDAQ:SOBR) stock increased by 7.73% to $0.24. The market value of their outstanding shares is at $4.7 million. The9 (NASDAQ:NCTY) stock moved upwards by 7.63% to $9.31. The market value of their outstanding shares is at $61.8 million. Syntec Optics Holdings (NASDAQ:OPTX) shares rose 7.53% to $3.21. The market value of their outstanding shares is at $117.7 million. VerifyMe (NASDAQ:VRME) stock moved upwards by 7.38% to $1.6. The market value of their outstanding shares is at $16.2 million. VNET Gr (NASDAQ:VNET
U.S. stocks were lower, with the Dow Jones falling around 400 points on Tuesday. Shares of ChampionX Corporation (NASDAQ:CHX) rose sharply during Tuesday’s session after Schlumberger Limited (NYSE:SLB) announced it will acquire the company. ChampionX shares jumped 9.5% to $38.78 on Tuesday. Here are some other big stocks recording gains in today’s session. VirTra, Inc. (NASDAQ:VTSI) shares jumped 32.8% to $12.67 after the company reported better-than-expected fourth-quarter results. TMC the metals company Inc. (NASDAQ:TMC) gained 18.1% to $1.70. Jiuzi Holdings, Inc. (NASDAQ:JZXN) climbed 10.7% to $4.43. Yatsen Holding Limited (NYSE:YSG) rose 10% to $2.52. Exact Sciences Corporation
VNET Gr (NASDAQ:VNET) reported quarterly losses of $(0.48) per share which missed the analyst consensus estimate of $(0.18) by 166.67 percent. This is a 700 percent decrease over losses of $(0.06) per share from the same period last year. The company reported quarterly sales of $267.39 million which missed the analyst consensus estimate of $279.03 million by 4.17 percent. This is a 1.94 percent decrease over sales of $272.67 million the same period last year.
This whale alert can help traders discover the next big trading opportunities. Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner. Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. Below are some instances of options activity happening in the Information Technology sector: Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume NVDA CALL SWEEP NEUTRAL 03/28/24 $900.00 $80.0K 7.7K 43.3K VNET PUT TRADE
BEIJING, July 30, 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. Erhfei Liu as an independent director of the Company's board of directors (the "Board"), effective July 24, 2024. Mr. Liu resigned for personal reasons and not due to any disagreement with the Board, the Company or any of its affiliates on any matter relating to the Company's operations, policies or practices. The Board has approved the appointment of Mr. David Lifeng Chen as a new independent director of the Board, effective immediately. The Board has reviewed the indepen
BEIJING, April 22, 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 Mr. Jeff Dong has resigned from his position as the Company's Chief Executive Officer due to personal reasons. Mr. Josh Sheng Chen, Founder and Co-chairperson of VNET, has been appointed to succeed Mr. Dong as the Company's interim CEO, effective immediately. The Company will announce once the appointment of the permanent CEO has been confirmed. Mr. Chen commented, "On behalf of the Company, we would like to express our sincere appreciation for Jeff's outstanding contributions to our achie
BEIJING, Oct. 14, 2022 /PRNewswire/ -- VNET Group, Inc. (NASDAQ:VNET) ("VNET" or the "Company"), a leading carrier- and cloud-neutral Internet data center services provider in China, announced that the special committee (the "Special Committee") of the Company's Board of Directors (the "Board") has retained Kroll Securities, LLC and Kroll, LLC (operating through its Duff & Phelps Opinions Practice) as its independent financial advisor, and Davis Polk & Wardwell LLP as its independent legal counsel. The Special Committee was formed to evaluate and consider the previously announced preliminary non-binding acquisition proposal letter dated September 13, 2022 from Mr. Josh Sheng Chen, founder of
BEIJING, Sept. 7, 2022 /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 appointment of KPMG Huazhen LLP ("KPMG") as the Company's independent registered public accounting firm, effective September 7, 2022, succeeding Ernst & Young Hua Ming LLP ("E&Y"), the Company's former independent registered public accounting firm. The change of the Company's independent registered public accounting firm was made after careful consideration and evaluation process and was approved by the audit committee of the board of directors of the Company. E&Y has served as the Company's
BEIJING, Aug. 9, 2022 /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 its board of directors (the "Board") has appointed Mr. Changqing Ye as a new director of the Company and a member of the audit committee of the Board, effective August 9, 2022. The Board has reviewed the independence of Mr. Ye and determined that he satisfies the "independence" requirements under Rule 10A-3 of the United States Exchange Act of 1934 and Rule 5605 of the Nasdaq Stock Market Rules. Mr. Changqing Ye has served as an independent director of Baozun Inc. (a company listed on Nasdaq
BEIJING, May 25, 2021 (GLOBE NEWSWIRE) -- 21Vianet Group, Inc. (NASDAQ:VNET) ("21Vianet" or the "Company"), a leading carrier- and cloud-neutral Internet data center services provider in China, today announced its unaudited financial results for the first quarter ended March 31, 2021. The Company will hold a conference call at 8:00 P.M. on Tuesday, May 25, 2021, U.S. Eastern Time to discuss the financial results. Dial-in details are provided at the end of this release. First Quarter 2021 Financial Highlights Net revenues increased by 27.1% to RMB1.39 billion (US$211.7 million) from RMB1.09 billion in the same period of 2020.Adjusted cash gross profit (non-GAAP) increased by 4