VNET Group, Inc.
In the published model solve dated 2026-Q2, anchored at $7.21, VNET Group, Inc. (VNET) is priced for +18.1% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 28, 2026 from SEC EDGAR filings.
- VNET is one of China's larger independent data-center operators, and its wholesale business has become the growth engine. Q1 2026 net revenue rose 19.8% to RMB2.69 billion, adjusted EBITDA grew 30.6% to RMB891.5 million at a 33.1% margin, and wholesale revenue jumped 58.1%, surpassing the retail business for the first time. - The AI build is concrete: VNET booked 519 megawatts of new AI and hyperscale orders so far this year, most of it from a single leading internet customer in the Greater B
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182 institutional managers reported holding VNET in 13F filings for the quarter ended 2026-03-31. Together they hold about 9% of the company; the top 10 hold 5%. 53 opened new positions that quarter. Held by Point72, Blackstone, Morgan Stanley, among others. On the short side, 38.3M shares were sold short as of the 2026-06-15 count, about 2% of shares outstanding (5.7 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
VNET's share count grew 86.3% over the past five years even with $269.51M spent on repurchases. It pays no dividend. Cash returned over the past three years: $2.46M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at VNET over the trailing three years. Absence is a fact about the company, not a signal. 5 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.