On June 9, VNET Group rose 10.15% in pre-market trading, trading at approximately $9.74/share, with trading volume of $61,600.
The rally is driven by a dual catalyst of a major equity transaction and better-than-expected first-quarter results. On the strategic front, a CATL-affiliated entity has agreed to acquire approximately 38.78% of VNET's shares from Shandong Hi-Speed Holdings for roughly $942 million, which upon completion in Q4 would make the CATL affiliate the company's largest shareholder. On the fundamentals side, VNET reported Q1 total net revenue of RMB 2.691 billion, up 19.8% year-over-year, while adjusted EBITDA reached RMB 892 million, a 30.6% increase that exceeded market expectations. Notably, wholesale IDC business net revenue surged 58.1% year-over-year, surpassing retail revenue for the first time — a milestone shift in the company's business structure. Goldman Sachs has previously assigned a Buy rating, citing optimism around VNET's AI-related data center expansion.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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