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VNET Group Inc (VNET Group) is a technology company that provides managed hosting services and interconnectivity solutions to enhance the performance, availability, and security of internet infrastructure. It offers internet data center (IDC) services, cloud services, and business VPN services. The company provides wholesale and retail data center services, including colocation, interconnectivity, and value-added services such as hybrid information technology and VPN solutions. It serves sectors including information technology, telecom, social networking, gaming, e-commerce, automotive, finance, and government, and individual users of Microsoft cloud services, among others. The company has operations across China. VNET Group is headquartered in Beijing, China.
Headquarters
China
Address
Guanjie Building, Southeast 1st Floor, 10# Jiuxianqiao East Road, Beijing, 100016
Website
ir.21vianet.com
Telephone
86 10 84562121
No of Employees
2,784
Industry
Technology and Communications
Ticker Symbol & Exchange
VNET (NASD)
Revenue (2024)
$1.4B
20.5%
(2024 vs 2023)
EPS
XYZ
Net Income (2024)
XYZ
-237.5%
(2024 vs 2023)
Market Cap*
$1.8B
Net Profit Margin (2024)
XYZ
-214.0%
(2024 vs 2023)
* As of and is in US$
VNET Group Inc premium industry data and analytics
Products and Services
| Services |
|---|
| Content Delivery Network (CDN) Services |
| Virtual Private Network (VPN) Services |
| Internet Data Center Services |
| XYZ |
| XYZ |
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2026 | Contracts/Agreements | In August, the company signed a strategic cooperation agreement with Contemporary Amperex Technology Co., Limited to promote compute-energy integration by synergistically combining VNET's leadership in large‑scale computing infrastructure development and operations with CATL's expertise in zero‑carbon new energy technologies. |
| 2026 | Contracts/Agreements | In May, the company signed an agreement to sell a 38% stake to PJ Millennium I Limited and PJ Millennium II Limited. |
| 2026 | Contracts/Agreements | In May, the company won a record order to supply ByteDance Ltd with about 500 megawatts of capacity from its data centers in China. |
Competitor Comparison
| Key Parameters | VNET Group Inc | China Mobile Ltd | China Telecom Corp Ltd | China Unicom (Hong Kong) Ltd | Baidu Inc |
|---|---|---|---|---|---|
| Headquarters | China | China | China | Hong Kong | China |
| City | Beijing | Beijing | Beijing | Hong Kong | Beijing |
| State/Province | Beijing | Beijing | Beijing | - | Beijing |
| No. of Employees | 2,784 | 461,345 | 277,911 | 239,307 | 33,500 |
| Entity Type | Public | Public | Public | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Josh Sheng Chen | Chairman | Executive Board | 2024 | 57 |
| Qiyu Wang | Chief Financial Officer | Senior Management | - | 48 |
| Derek Li | General Counsel; Executive Vice President | Senior Management | - | - |
| Xiaomang Li | Senior Vice President | Senior Management | - | - |
| Ju Ma | Executive Vice President | Senior Management | 2021 | - |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
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