BEIJING, June 27, 2025 — VNET Group, Inc. (“VNET” or the “Company”) (Nasdaq: VNET), a premier provider of carrier- and cloud-neutral internet data center services in China, announced today that its Board of Directors has approved a share repurchase program. This action highlights the Board’s confidence in VNET’s future growth and development. The program allows VNET to repurchase up to US$50 million worth of its American depositary shares (“ADSs”), each representing six Class A ordinary shares of the Company. The repurchases are subject to the relevant regulations under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the Company’s insider trading policy.
Under the share repurchase program, the Company may make repurchases from time to time on the open market at prevailing market prices, through open-market transactions, in privately negotiated transactions, or through block trades. Other legally permissible methods may also be used, depending on market conditions and in accordance with applicable rules and regulations. The timing and conditions of these repurchases will depend on factors such as the requirements of Rule 10b-18 and Rule 10b5-1 of the Exchange Act. The Company’s Board of Directors will regularly review the share repurchase program and may authorize changes to its terms, size, or choose to suspend or discontinue it. The Company plans to use its existing funds to finance repurchases made under this program.
The share repurchase program will begin once a formal stock repurchase plan engagement agreement is signed with a qualified broker-dealer, or broker-dealers. It will end within a 12-month period, depending on market and economic conditions, as well as other factors like price, trading volume, overall market conditions, legal and regulatory requirements, and available capital. VNET is not obligated to purchase a specific number of American depositary shares under this program. The share repurchase program can be modified, suspended, or terminated at any time at the management’s discretion. Any ADSs repurchased may be classified and held in the Company’s name as treasury shares or ADSs, which may be cancelled or used for other purposes.
About VNET
VNET Group, Inc. is a leading carrier- and cloud-neutral internet data center services provider in China. VNET offers hosting and related services, encompassing IDC services, cloud services, and business VPN services. These services enhance the reliability, security, and speed of its customers’ internet infrastructure. Customers can house their servers and equipment in VNET’s data centers and connect to China’s internet backbone. VNET operates in over 30 cities across China, serving a diverse and loyal customer base of more than 7,000 hosting and related enterprise customers. These customers span various industries, including internet companies, government bodies, blue-chip enterprises, and small- to mid-sized enterprises.
Safe Harbor Statement
This announcement includes forward-looking statements, made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are identifiable by terms like “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “target,” “believes,” “estimates,” and similar expressions. Statements in this announcement, including management quotations and VNET’s strategic and operational plans (such as the plan to sign a definitive agreement on a pre-REITs project), are forward-looking. VNET may also issue written or oral forward-looking statements in reports filed with or furnished to the U.S. Securities and Exchange Commission, annual reports to shareholders, press releases, other written materials, and oral statements by its officers, directors, or employees to third parties. Statements that are not historical facts, including those about VNET’s beliefs and expectations, are forward-looking. These statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially. These factors include VNET’s goals and strategies, liquidity conditions, expansion plans, the anticipated growth of the data center services market, expectations regarding demand for and market acceptance of VNET’s services, expectations regarding maintaining and strengthening customer relationships, plans to invest in research and development to improve its solution and service offerings, and general economic and business conditions in the regions where VNET provides solutions and services. Further information about these and other risks can be found in VNET’s reports filed with or furnished to the U.S. Securities and Exchange Commission. All information in this press release is current as of its date, and VNET is not obligated to update this information unless required by law.
Investor Relations Contact:
Xinyuan Liu
Tel: +86-10-8456 2121
Email:
SOURCE VNET Group, Inc.
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