VNET Group, Inc. Sponsored ADR (VNET) has released an update.
VNET Group, Inc. reported a 5.1% year-over-year revenue increase in Q1 2024, driven by a significant 59.1% rise in wholesale revenues and strong IDC business performance. Despite a slight decrease in retail revenues, the company’s wholesale IDC capacity utilization improved to 71%, signaling robust demand. VNET is focused on capitalizing on AI-driven market opportunities and delivering sustainable value while enhancing China’s digital economy.
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