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20-F

Annual Report (Foreign)

VNET Group, Inc. VNET

0001104659-26-044361

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Filed
Apr 16, 2026 12:00 AM ET
Period of report

On SEC.gov

Financials in this filing

Metric Period Value
Shares Diluted FY 2025 · Dec 31, 2025 1.61B sh
Shares Diluted FY 2025 · Dec 31, 2024 1.74B sh
Shares Diluted FY 2025 · Dec 31, 2023 901.14M sh
Stock Repurchased FY 2025 · Dec 31, 2025 $2.46M
Stock Repurchased FY 2025 · Dec 31, 2025 ¥17.2M
Capex FY 2025 · Dec 31, 2025 $1.09B
Capex FY 2025 · Dec 31, 2025 ¥7.66B
Capex FY 2025 · Dec 31, 2024 ¥4.92B
Capex FY 2025 · Dec 31, 2023 ¥2.97B
Operating Cash Flow FY 2025 · Dec 31, 2025 $274.35M
Operating Cash Flow FY 2025 · Dec 31, 2025 ¥1.92B
Operating Cash Flow FY 2025 · Dec 31, 2024 ¥2.01B
Operating Cash Flow FY 2025 · Dec 31, 2023 ¥2.06B
Short Term Investments FY 2025 · Dec 31, 2025 $54.23M
Short Term Investments FY 2025 · Dec 31, 2025 ¥379.2M
Cash And Equivalents FY 2025 · Dec 31, 2025 $789.86M
Cash And Equivalents FY 2025 · Dec 31, 2025 ¥5.52B
Cash And Equivalents FY 2025 · Dec 31, 2024 ¥1.49B
Cash And Equivalents FY 2025 · Dec 31, 2023 ¥2.24B
Stockholders Equity FY 2025 · Dec 31, 2025 $889.23M
Stockholders Equity FY 2025 · Dec 31, 2025 ¥6.22B
Stockholders Equity FY 2025 · Dec 31, 2024 ¥6.37B
Current Liabilities FY 2025 · Dec 31, 2025 $1.78B
Current Liabilities FY 2025 · Dec 31, 2025 ¥12.45B
Current Liabilities FY 2025 · Dec 31, 2024 ¥9.34B
Total Liabilities FY 2025 · Dec 31, 2025 $5.15B
Total Liabilities FY 2025 · Dec 31, 2025 ¥36.03B
Total Liabilities FY 2025 · Dec 31, 2024 ¥25.44B
Current Assets FY 2025 · Dec 31, 2025 $1.64B
Current Assets FY 2025 · Dec 31, 2025 ¥11.45B
Current Assets FY 2025 · Dec 31, 2024 ¥6.82B
Total Assets FY 2025 · Dec 31, 2025 $6.38B
Total Assets FY 2025 · Dec 31, 2025 ¥44.59B
Total Assets FY 2025 · Dec 31, 2024 ¥32.36B
Eps Diluted FY 2025 · Dec 31, 2025 −$0.02
Eps Diluted FY 2025 · Dec 31, 2025 −¥0.16
Eps Diluted FY 2025 · Dec 31, 2024 ¥0.02
Eps Diluted FY 2025 · Dec 31, 2023 −¥2.93
Eps Basic FY 2025 · Dec 31, 2025 −$0.02
Eps Basic FY 2025 · Dec 31, 2025 −¥0.16
Eps Basic FY 2025 · Dec 31, 2024 ¥0.11
Eps Basic FY 2025 · Dec 31, 2023 −¥2.93
Sga Expense FY 2025 · Dec 31, 2025 $113.95M
Sga Expense FY 2025 · Dec 31, 2025 ¥796.86M
Sga Expense FY 2025 · Dec 31, 2024 ¥659.03M
Sga Expense FY 2025 · Dec 31, 2023 ¥541.85M
Rd Expense FY 2025 · Dec 31, 2025 $37.34M
Rd Expense FY 2025 · Dec 31, 2025 ¥261.13M
Rd Expense FY 2025 · Dec 31, 2024 ¥246.61M
Rd Expense FY 2025 · Dec 31, 2023 ¥322.22M
Net Income FY 2025 · Dec 31, 2025 −$36.01M
Net Income FY 2025 · Dec 31, 2025 −¥251.84M
Net Income FY 2025 · Dec 31, 2024 ¥183.2M
Net Income FY 2025 · Dec 31, 2023 −¥2.64B
Operating Income FY 2025 · Dec 31, 2025 $111.58M
Operating Income FY 2025 · Dec 31, 2025 ¥780.3M
Operating Income FY 2025 · Dec 31, 2024 ¥669.44M
Operating Income FY 2025 · Dec 31, 2023 −¥1.97B
Gross Profit FY 2025 · Dec 31, 2025 $313.52M
Gross Profit FY 2025 · Dec 31, 2025 ¥2.19B
Gross Profit FY 2025 · Dec 31, 2024 ¥1.83B
Gross Profit FY 2025 · Dec 31, 2023 ¥1.29B