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VNET Group, Inc.

VNET
Exchange
Nasdaq
Industry
Services-Computer Programming, Data Processing, Etc.
SEC CIK
0001508475

In the last 90 days, VNET Group, Inc. insiders filed 0 open-market purchases and 1 sale; 160 institutions reported holding it in 13F filings for Q2 2026, worth $1.31B in total; Greenwoods Asset Management is the only superinvestor holding it.

Currency
CNY
Source
SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
Updated
Oct 8, 2026, 1:21 PM ET

Amounts are in CNY, the currency VNET Group, Inc. reports in. Lines marked ≈ US$ convert key figures to US dollars.

Income statement

Each column is one fiscal year, newest first.

Income statement of VNET Group, Inc., annual
Line itemFY2025FY2024FY2023FY2022FY2021
Period endDec 31, 2025Dec 31, 2024Dec 31, 2023Dec 31, 2022Dec 31, 2021
Filing20-F20-F20-F20-F20-F
Reported–––––
Gross profitCNY 2.19BCNY 1.83BCNY 1.29BCNY 1.36BCNY 1.44B
Research and developmentCNY 261.1MCNY 246.6MCNY 322.2MCNY 306.8MCNY 188.5M
Selling, general and administrativeCNY 796.9MCNY 659.0MCNY 541.9MCNY 642.9MCNY 842.4M
Operating incomeCNY 780.3MCNY 669.4MCNY -1.97BCNY 121.2MCNY 21.3M
Interest expenseCNY 598.6MCNY 401.0MCNY 312.2MCNY 273.3MCNY 334.9M
Income taxCNY 557.5MCNY 234.2MCNY 114.4MCNY 133.5MCNY 111.4M
Net incomeCNY -251.8M≈ US-$35.0MCNY 183.2M≈ US$25.5MCNY -2.64B≈ US-$373.6MCNY -776.0M≈ US-$115.5MCNY 500.1M≈ US$77.5M
EPS, basicCNY -0.16CNY 0.11CNY -2.93CNY -0.87CNY 0.57
EPS, dilutedCNY -0.16CNY 0.02CNY -2.93CNY -0.87CNY -0.36
Weighted shares, basic1.61B1.59B901.1M886.8M865.4M
Weighted shares, diluted1.61B1.74B901.1M886.8M911.6M
Margins and growth
Net income growth, year over year−237.5%––−255.2%–

Balance sheet

Each column is one fiscal year, newest first.

Balance sheet of VNET Group, Inc., annual
Line itemFY2025!FY2024FY2023FY2022FY2021
Period endDec 31, 2025Dec 31, 2024Dec 31, 2023Dec 31, 2022Dec 31, 2021
Filing20-F20-F20-F20-F20-F
Reported–––––
Cash and equivalentsCNY 5.52BCNY 1.49BCNY 2.24BCNY 2.66BCNY 1.37B
Short-term investmentsCNY 379.2MCNY 0CNY 356.8M––
Total current assetsCNY 11.5BCNY 6.82BCNY 9.82BCNY 7.05BCNY 5.32B
Property, plant and equipmentCNY 22.8BCNY 17.2BCNY 13.0BCNY 12.0BCNY 10.1B
Goodwill–CNY 0–CNY 1.36BCNY 1.34B
Intangible assetsCNY 2.00BCNY 1.40BCNY 1.38BCNY 1.50BCNY 900.3M
Total assetsCNY 44.6B≈ US$6.38BCNY 32.4B≈ US$4.43BCNY 30.4B≈ US$4.28BCNY 26.9B≈ US$3.91BCNY 23.1B≈ US$3.62B
Short-term debtCNY 3.23BCNY 2.01BCNY 753.3MCNY 484.0MCNY 384.2M
Total current liabilitiesCNY 12.4BCNY 9.34BCNY 11.4BCNY 6.33BCNY 5.18B
Long-term debtCNY 13.6BCNY 9.19B–––
Total liabilitiesCNY 36.0BCNY 25.4BCNY 23.9BCNY 20.0BCNY 15.5B
Shareholders' equityCNY 6.85BCNY 6.92BCNY 6.51BCNY 6.98BCNY 7.60B

Cash flow statement

Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.

Cash flow statement of VNET Group, Inc., annual
Line itemFY2025FY2024FY2023FY2022FY2021
Period endDec 31, 2025Dec 31, 2024Dec 31, 2023Dec 31, 2022Dec 31, 2021
Filing20-F20-F20-F20-F20-F
Reported–––––
Operating cash flowCNY 1.92B≈ US$267.0MCNY 2.01B≈ US$278.7MCNY 2.06B≈ US$291.6MCNY 2.44B≈ US$363.4MCNY 1.39B≈ US$215.2M
Capital expendituresCNY 7.66BCNY 4.92BCNY 2.97BCNY 3.00BCNY 2.69B
Free cash flowCNY -5.74B≈ US-$798.4MCNY -2.92B≈ US-$405.6MCNY -904.0M≈ US-$127.8MCNY -555.4M≈ US-$82.7MCNY -1.30B≈ US-$202.2M
Depreciation and amortizationCNY 2.13BCNY 1.60BCNY 1.81BCNY 1.60BCNY 1.27B
Stock-based compensationCNY 25.8MCNY 148.6MCNY 35.3MCNY 118.2MCNY 320.0M
Share buybacksCNY 17.2M–––CNY 1.70B
Investing cash flowCNY -8.01BCNY -4.39BCNY -3.91BCNY -3.56BCNY -3.77B
Financing cash flowCNY 10.2BCNY -627.7MCNY 3.94BCNY 2.30BCNY 967.6M
Net change in cashCNY 4.12BCNY -3.02BCNY 2.11BCNY 1.28BCNY -1.41B

Shares outstanding

Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.

VNET Group, Inc. reports no single share count on its 10-K and 10-Q covers. Companies with several share classes report one count per class, which this data doesn't include.

Notes and known gaps

How these numbers are put together, and what they can't tell you.

  • Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
  • Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
  • A column marked ! failed an accounting identity (gross profit = revenue − cost of revenue, or assets = liabilities + equity, within 1%). Its numbers are shown as filed.
  • ≈ US$ figures convert CNY at FRED H.10 exchange rates (Federal Reserve): the average rate over the period for income and cash flow, and the rate on the period-end date, or the last business day before it, for the balance sheet.

Known gaps

  • Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
  • EPS and share counts are as reported at the time, not adjusted for later stock splits.
  • For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
  • For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
  • Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
  • Depreciation and amortization is missing for some companies that report it under their own XBRL tags.