Recent Updates — VNET

VNET Group, Inc. has repurchased approximately US$75.3 million in aggregate principal amount of its outstanding 2.00% Convertible Senior Notes due 2027, representing roughly 30% of the total $250.0 million issuance. The transactions were conducted through privately negotiated deals for a total cash consideration of approximately US$80.0 million, including accrued interest. VNET Group, Inc. is a leading carrier- and cloud-neutral internet data center services provider in China.

VNET Group, Inc. announced the closing on September 21, 2026, of a strategic investment transaction involving the purchase of 650,424,192 Class A ordinary shares from Success Flow International Investment Limited and Choice Faith Group Holdings Limited. The buyers, PJ Millennium I Limited and PJ Millennium II Limited (subsidiaries of PJ Millennium Partnership), now hold approximately 38.1% of VNET's total issued and outstanding ordinary shares based on 1,708,970,760 shares outstanding as of June 30, 2026. The transaction is affiliated with Contemporary Amperex Technology Co., Limited (CATL). An Investor Rights Agreement dated May 13, 2026, became effective upon closing, granting the investors registration rights and board representation. VNET Group, Inc. operates in the data center industry, providing carrier- and cloud-neutral internet data center services, hosting, and business VPN solutions to enterprise customers across China.

VNET Group, Inc. reported unaudited second quarter 2026 financial results and announced a strategic cooperation agreement with Contemporary Amperex Technology Co., Limited (CATL). Total net revenues increased 14.2% year-over-year to RMB2.78 billion (US$409.5 million), driven by a 29.3% rise in wholesale IDC revenues to RMB1.10 billion. Adjusted EBITDA grew 25.4% to RMB918.3 million, with an adjusted net income of RMB7.4 million compared to an adjusted net loss in the prior year period. The company secured a 345MW wholesale order and expanded its land bank by approximately 1.4GW. VNET provided full-year 2026 revenue guidance of RMB11.5 billion to RMB11.8 billion and capital expenditure estimates of RMB10 billion to RMB12 billion. The company operates in the internet data center services industry, providing hosting, cloud, and VPN infrastructure.