VNET Group reports Q2 EPS RMB0.04 vs.(RMV0.26) last year

Reports Q2 revenue RMB1.99B vs. RMB1.82B last year. “We delivered another solid quarter through continued strong execution of our effective dual-core development strategy,” said Josh Sheng Chen, Founder, Executive Chairperson and interim CEO of VNET. “The wholesale IDC business remained our key growth driver, highlighted by three new orders totaling 235MW for our Ulanqab IDC Campus in the Greater Beijing Area. Climbing utilization rates and a high pre-commitment rate for capacity under construction demonstrate our reliable, high-quality IDC services’ enduring customer appeal in the competitive market. Furthermore, we advanced our AI data center development with steady progress on our green, high-tech Ulanqab IDC Campus, enabling us to seamlessly meet the increasing AI-driven demand. Going forward, we will continue to strengthen our innovative service offerings, vast high-power density resources and diverse AI-related capabilities to drive our healthy development and create value for all of our stakeholders.”