VNET Group, Inc. Sponsored ADR (VNET) has released an update.
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VNET Group, Inc. reported a 9.4% increase in total net revenues year over year to RMB 1.99 billion for Q2 2024, driven by a noteworthy 81% growth in wholesale revenue. The company also saw an impressive turnaround, posting a net income of RMB 71.8 million following a net loss in the previous quarter, bolstered by operational improvements and a strategy focused on AI data center development and high-quality revenue streams. These financial gains underscore VNET’s commitment to innovation and sustainable growth in the competitive data center services market.
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