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VNET · NASDAQ · Information Technology Services

VNET (ADR)

Operates retail and wholesale data centers alongside cloud and VPN services in China.

$6.54

After-hours close−0.01 (−0.23%)

At close$6.56(−1.28%)

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Profile

VNET Group, Inc.VNETInformation Technology

Provides retail and customized wholesale data-center services, plus cloud and VPN services. Its China-focused footprint combines carrier- and cloud-neutral infrastructure with both retail colocation and customized capacity for hyper-large clients.

Retail IDC services house customers' servers and networking equipment, while customized wholesale IDC sites serve hyper-large clients. Cloud and VPN services extend the hosting offering.

Operations are concentrated in China, with carrier- and cloud-neutral data centers in more than 30 cities. The business combines retail colocation with customized wholesale capacity rather than relying on a single customer format.

Founded by Josh Sheng Chen, the company began carrier-neutral data-center operations in 1999 and remains founder-led through Chen's executive chair role. Its hosting and related services depend on data-center infrastructure that connects enterprise customers to networks.

Company facts

CEOJosh Sheng Chen

ListedApr 21, 2011

ExchangeNASDAQ

HeadquartersBeijing, China

CountryChina

Employees2,581

CIK0001508475

ISINUS90138A1034

Key statistics

Market cap$1.83B

EPS (ttm)−$1.32

P/E (ttm)−4.97

ROE-47.1%

P/B3.06

P/S1.15

Dividend yield—

Beta2.46vs XLK 0.68

Year to date −28.0% · Average volume (30d) 4.8M

Analysts

Price target, next 12 months$15.15+131.3%Median of 16 analysts · vs the Aug 28 close

ConsensusBuy10 of 16 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $6.55

High$24.79+278.5%

Median$15.15+131.3%

Low$12.50+90.8%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Rating	Prior target	Target
Aug 19, 2026	Morgan Stanley	Reiterate	Overweight	$16	$14
Jul 7, 2026	Deutsche Bank	Initiate	Buy		$12.50
May 26, 2026	Morgan Stanley	Target			$16
May 26, 2026	Jefferies	Target		$23.55	$24.79
May 26, 2026	Seaport Global	Target			$16.30

Earnings

EPS

Estimate−$0.02

ReportedDue Nov 19, 2026

Revenue

Estimate$442.8M

ReportedDue Nov 19, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 18, 2026Q2 FY26	−$0.06	−$0.06	0.0%	$401.8M	$409.0M	+1.8%	−16.92%
May 26, 2026Q1 FY26	−$0.03	−$1.20	−3,382.3%	$388.5M	$390.0M	+0.4%	+7.96%
Mar 16, 2026Q4 FY25	$0.04	$0.00	−103.6%	$374.6M	$384.1M	+2.6%	−2.10%
Nov 20, 2025Q3 FY25	$0.02	$0.02	0.0%	$368.6M	$362.6M	−1.6%	+2.07%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$334.2M	$362.2M	$382.1M	$394.3M	$400.4M	$412.3M
Gross profit	$84.1M	$81.5M	$79.8M	$79.3M	$91.6M	$75.0M
Operating income	$37.0M	$25.7M	$28.6M	$20.3M	$36.7M	$28.1M
Net income	−$35.3M	−$1.8M	−$45.7M	$44.0M	−$331.7M	−$21.5M
Diluted EPS	−$0.13	−$0.01	−$0.17	$0.14	−$1.21	−$0.08
Gross margin	25.2%	22.5%	20.9%	20.1%	22.9%	18.2%
Operating margin	11.1%	7.1%	7.5%	5.1%	9.2%	6.8%

Fiscal years (4-quarter sums)FY21 $919.9M · FY22 $1.05B · FY23 $1.10B · FY24 $1.22B · FY25 $1.47B

Revenue by product · FY25

Hosting And Related Services$10.8M · 92%

Cloud Services$931.9K · 8%

Balance sheet, Jun 30, 2026Cash & short-term investments $1.07B · Total debt $4.56B · Total assets $7.37B · Shareholders' equity $606.6M

Dividends

No dividends on record.

Ownership

Institutions 45.73%Insiders —

Shares outstanding 279.56M · Float 269.16M · 96.3% free float

Insiders — filings are in the shares behind the receipt.

This listing is a depositary receipt and the Form 4 positions here are filed in the shares behind it, a different unit from the share count and in a ratio the filings never state, so no insider percentage is shown.

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Shandong Hi-Speed Holdings Group Limited	650.42M	38.10%	13D	May 19, 2026
Sheng Chen	553.74M	32.40%	13D	May 15, 2026
Norges Bank	93.20M	5.90%	13G	Jan 28, 2026
Point72 Asset Management, L.P.	16.11M	5.76%	13F	May 15, 2026
Blackstone Inc.	10.40M	3.72%	13F	May 15, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Jun 1, 2026	Sean Shao	director	−60,000	$1.71
May 18, 2026	Zhihua Zhang	officer: SVP, Operational Finance	−9,072	$1.69
Mar 23, 2026	David Lifeng Chen	director	−83,544	$1.51