The latest announcement is out from VNET Group, Inc. Sponsored ADR ( (VNET) ).
On March 12, 2025, VNET Group, Inc. announced its unaudited financial results for the fourth quarter and full year of 2024, highlighting a strong performance driven by AI-driven demand. The company secured significant orders, including a 32MW order in the Yangtze River Delta and a 100MW framework agreement in Ulanqab. VNET’s wholesale IDC business was a key growth driver, with revenues reaching a record high of RMB665.2 million, marking a 125.4% year-over-year increase. The company’s adjusted EBITDA also saw a substantial rise, and it reported a net income of RMB3.5 million compared to a net loss in the previous year. VNET is optimistic about future growth opportunities in China’s AI sector, aiming to capitalize on the increasing demand for advanced data center capacities.
More about VNET Group, Inc. Sponsored ADR
VNET Group, Inc. is a prominent provider of carrier- and cloud-neutral internet data center services in China. The company focuses on high-performance data centers and offers managed hosting services, including wholesale and retail IDC businesses, along with cloud and VPN services.
YTD Price Performance: 135.38%
Average Trading Volume: 8,235,581
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $3.18B
See more data about VNET stock on TipRanks’ Stock Analysis page.
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