VNET Raises Full Year 2025 Revenue and Adjusted EBITDA Guidance

BEIJING, June 27, 2025 /PRNewswire/ -- VNET Group, Inc. (NASDAQ:VNET) ("VNET" or the "Company"), a leading carrier- and cloud-neutral internet data center services provider in China, today announced that the Company has increased its total net revenues and adjusted EBITDA (non-GAAP) guidance for the full year 2025.

"We were very pleased to deliver an impressive first quarter results, demonstrating sustained operating and financial momentum underpinned by strong strategic execution," said Qiyu Wang, Chief Financial Officer of VNET. "Given this robust trajectory fueled by faster-than-anticipated move-ins among wholesale IDC clients and ongoing operational efficiency gains, we are raising our full-year total net revenues and adjusted EBITDA guidance, reflecting our optimism for the remainder of 2025."

Updated Full Year 2025 Business Outlook

The Company is updating guidance for the year ending December 31, 2025 (except otherwise noted, all guidance figures reference adjusted amounts). The Company expects total net revenues for 2025 to be in the range of RMB9,150 million to RMB9,350 million, representing year-over-year growth of 11% to 13%, and adjusted EBITDA (non-GAAP) to be in the range of RMB2,760 million to RMB2,820 million, representing year-over-year growth of 14% to 16%. If the RMB87.7 million on disposal gain of E-JS02 data center were excluded from the adjusted EBITDA calculation for 2024, the year-over-year growth would be 18% to 20%.

2024 Actual Results

Previous Guidance

Updated Guidance

FY 2025

Year-over-year

Growth

FY 2025

Year-over-year