VNET Group
VNET
About: VNET started as AsiaCloud in 1999 and moved to the data center business with its first self-developed data center opening in 2010. The firm listed (as 21Vianet) on the Nasdaq in April 2011, subsequently changing its name to VNET Group in 2021. It originally focused on providing data center services such as colocation and cloud services to retail clients in China, but added hyperscale customers in 2019 and now counts large Chinese hyperscalers such as Alibaba Cloud, Tencent Cloud, and Huawei Cloud as customers. At the end of June 2025, it had 51,960 retail cabinets with the majority in Beijing, Shanghai, and the Greater Bay area. It also had 674 MW of wholesale capacity in service with a further 326 MW under construction and a further 792 MW held for future development.
Employees: 2,581
Fund manager confidence
Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)
38.17% more ownership
Funds ownership: 8.49% [Q1] → 46.66% (+38%) [Q2]
35% more repeat investments, than reductions
Existing positions increased: 62 | Existing positions reduced: 46
6% less funds holding
Funds holding: 162 [Q1] → 153 (-9) [Q2]
18% less first-time investments, than exits
New positions opened: 33 | Existing positions closed: 40
21% less capital invested
Capital invested by funds: $1.08B [Q1] → $850M (-$227M) [Q2]
28% less call options, than puts
Call options by funds: $11M | Put options by funds: $15.2M
40% less funds holding in top 10
Funds holding in top 10: 10 [Q1] → 6 (-4) [Q2]
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
1 analyst rating
Financial journalist opinion
Based on 3 articles about VNET published over the past 30 days
