VNET on Nasdaq

21Vianet

Chinese Internet and data center service provider

VNET Group, Inc. (VNET, formerly 21Vianet) is the largest private, carrier-neutral Internet and data center service provider in China.³ From Wikipedia, CC BY-SA 4.0

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Last updated Oct 19, 2026.

Overview

-$36.0MNet income, fiscal 2025⁴

Oct 16, 2009Founded¹

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TickerVNET on Nasdaq¹
IndustryServices-Computer Programming, Data Processing, Etc.¹
HeadquartersBeijing¹
Websitewww.ch.21vianet.com
Business addressGuanjie Building, Southeast 1St Floor, 10# Jiuxianqiao East Road, Beijing, F4 100016⁵
Filer categoryLarge accelerated filer⁵

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VNET Group, Inc. (VNET, formerly 21Vianet) is the largest private, carrier-neutral Internet and data center service provider in China. A Cayman Islands holding company, VNET provides value-added telecommunications services in China through four domestic PRC companies: VNET Technology, BJ iJoy, WiFire Network, and SH Zhiyan. It is the exclusive operator of Microsoft Azure and Microsoft 365 services in China, and also houses data centers for Alibaba and other Chinese companies.³

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2019

24.8%Gross margin⁶

4.8%Operating margin⁶

-4.8%Net margin⁶

10.0%Revenue growth, 2019⁶

-3.7%Return on equity⁶

-$64.1MFree cash flow⁶

Where the money goes

Where each dollar of revenue went, fiscal 2019

Cost of revenueOther costs

Cost of revenue75¢$409.3M
Research and development2¢$12.8M
Other costs13¢$71.7M
Interest9¢$49.7M
Income tax0¢$781.0K

Out of $544.3M in revenue.⁶ The company lost money this year.

Where each dollar of operating cash went, fiscal 2019

Capital spending

Capital spending99¢$179.4M
Share buybacks1¢$1.7M

Out of $115.3M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.⁶

Financial statements

Revenue⁷⁶$544.3M in 2019+10% since 2018

Gross profit⁷⁶$134.9M in 2019−2% since 2018

Operating income⁷⁶$26.2M in 2019−24% since 2018

Net income⁷⁶-$26.2M in 2019−12% since 2018

Every line of the income statement as filed: the last 3 fiscal years, latest first.⁴

Period ending	2025-12-31	2024-12-31	2023-12-31
Hosting and related services (including related parties amounts of RMB50,709, RMB34,153 and RMB40,426 for the years ended December 31, 2023, 2024 and 2025, respectively)	-7.8B CNY	-6.4B CNY	-6.1B CNY
Gross profit	2.2B CNY	1.8B CNY	1.3B CNY
Operating income	27.8M CNY	114.6M CNY	106.3M CNY
Sales and marketing expenses	-279.2M CNY	-263.8M CNY	-266.2M CNY
Research and development expenses	-261.1M CNY	-246.6M CNY	-322.2M CNY
General and administrative expenses	-796.9M CNY	-659.0M CNY	-541.9M CNY
Provision for doubtful debt	-102.7M CNY	-107.9M CNY	-368.5M CNY
Impairment of long-lived assets			-506.7M CNY
Impairment of goodwill			-1.4B CNY
Total operating expenses	-1.4B CNY	-1.2B CNY	-3.3B CNY
Operating (loss) profit	780.3M CNY	669.4M CNY	-2.0B CNY
Interest income	37.4M CNY	28.0M CNY	41.8M CNY
Interest expense	-598.6M CNY	-401.0M CNY	-312.2M CNY
Changes in the fair value of financial instruments	-314.3M CNY	-74.1M CNY	-165.9M CNY
Impairment of long-term investments			-11.2M CNY
Gain on debt extinguishment		246.2M CNY
Gain on deconsolidation of a subsidiary	469.8M CNY
Foreign exchange (loss) gain, net	5.5M CNY	-19.2M CNY	-79.0M CNY
Other income	55.6M CNY	52.7M CNY	27.3M CNY
Other expenses	-18.4M CNY	-27.3M CNY	-16.1M CNY
(Loss) income before income taxes and gain from equity method investments	417.2M CNY	474.7M CNY	-2.5B CNY
Income tax expenses	-557.5M CNY	-234.2M CNY	-114.4M CNY
Gain from equity method investments	6.9M CNY	8.0M CNY	3.3M CNY
Net (loss) income	-133.4M CNY	248.4M CNY	-2.6B CNY
Net income attributable to noncontrolling interests	-67.5M CNY	-65.2M CNY	-46.7M CNY
Net income attributable to redeemable noncontrolling interests	-50.9M CNY
Net (loss) income attributable to VNET Group, Inc.	-251.8M CNY	183.2M CNY	-2.6B CNY
Accretion to redemption value of redeemable noncontrolling interests	-4.9M CNY
Net loss attributable to the Company's ordinary shareholders	-256.8M CNY	168.1M CNY	-2.6B CNY
Basic (in dollars per share)	-0.16 CNY	0.11 CNY	-2.93 CNY
Diluted (in dollars per share)	-0.16 CNY	0.02 CNY	-2.93 CNY
Basic (in shares)	1.6B shares	1.6B shares	901.1M shares
Diluted (in shares)	1.6B shares	1.7B shares	901.1M shares
Hosting and related services - Net revenues	9.9B CNY	8.3B CNY	7.4B CNY

Total assets⁷⁶$2.1B in 2019+26% since 2018

Total liabilities⁷⁶$1.3B in 2019+54% since 2018

Shareholders’ equity⁷⁶$711.5M in 2019−4% since 2018

Cash⁷⁶$259.8M in 2019−24% since 2018

Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.⁴

Period ending	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Cash and cash equivalents	5.5B CNY	1.5B CNY	2.2B CNY
Restricted cash	656.0M CNY	545.8M CNY	2.9B CNY
Short-term investments	379.2M CNY
Prepaid expenses and other current assets	2.2B CNY	2.8B CNY
Total current assets	11.5B CNY	6.8B CNY
Derivative financial instrument	11.2M CNY	6.8M CNY
Long-term investments, net	1.1B CNY	794.7M CNY
Property and equipment, net	22.8B CNY	17.2B CNY
Intangible assets, net	2.0B CNY	1.4B CNY
Land use rights, net	867.8M CNY	766.2M CNY
Other non-current assets	1.3B CNY	381.1M CNY
Total non-current assets	33.1B CNY	25.5B CNY
Total assets	44.6B CNY	32.4B CNY
Short-term bank borrowings (including amounts of consolidated VIEs without recourse to the Company of RMB589,000 and RMB1,086,997 as of December 31, 2024 and 2025, respectively)	1.2B CNY	589.0M CNY
Current portion of long-term borrowings (including amounts of consolidated VIEs without recourse to the Company of RMB1,093,160 and RMB1,657,840 as of December 31, 2024 and 2025, respectively)	2.1B CNY	1.4B CNY
Current portion of finance lease liabilities (including amounts of consolidated VIEs without recourse to the Company of RMB94,162 and RMB229,691 as of December 31, 2024 and 2025, respectively)	358.0M CNY	208.3M CNY
Current portion of operating lease liabilities (including amounts of consolidated VIEs without recourse to the Company of RMB881,025 and RMB941,603 as of December 31, 2024 and 2025, respectively)	962.3M CNY	899.8M CNY
Accounts and notes payable (including amounts of consolidated VIEs without recourse to the Company of RMB574,642 and RMB610,988 as of December 31, 2024 and 2025, respectively)	741.9M CNY	709.3M CNY
Deferred revenue (including amounts of consolidated VIEs without recourse to the Company of RMB80,435 and RMB124,401 as of December 31, 2024 and 2025, respectively)	138.7M CNY	87.8M CNY
Total current liabilities	12.4B CNY	9.3B CNY
Convertible notes	5.1B CNY	1.9B CNY
Unrecognized tax benefits (including amounts of consolidated VIEs without recourse to the Company of RMB107,850 and RMB118,734 as of December 31, 2024 and 2025, respectively)	118.7M CNY	107.8M CNY
Deferred tax liabilities (including amounts of consolidated VIEs without recourse to the Company of RMB118,374 and RMB106,232 as of December 31, 2024 and 2025, respectively)	840.4M CNY	734.4M CNY
Deferred government grants (including amounts of consolidated VIEs without recourse to the Company of RMB38,654 and RMB82,493 as of December 31, 2024 and 2025, respectively)	260.3M CNY	273.8M CNY
Total non-current liabilities	23.6B CNY	16.1B CNY
Total liabilities	36.0B CNY	25.4B CNY
Redeemable noncontrolling interests	1.7B CNY
Total mezzanine equity	1.7B CNY
Treasury shares	-179.1M CNY	-161.9M CNY
Additional paid-in capital	17.4B CNY	17.3B CNY
Statutory reserves	116.3M CNY	107.4M CNY
Accumulated other comprehensive (loss) income	46.4M CNY	-18.5M CNY
Accumulated deficit	-11.1B CNY	-10.9B CNY
Total VNET Group, Inc. shareholders' equity	6.2B CNY	6.4B CNY
Noncontrolling interests	634.4M CNY	554.9M CNY
Total shareholders' equity	6.9B CNY	6.9B CNY	6.5B CNY	7.0B CNY
Total liabilities, mezzanine equity and shareholders' equity	44.6B CNY	32.4B CNY
Allowance for doubtful debt of the Consolidated VIEs without recourse to the primary beneficiaries	267.7M CNY	189.5M CNY	188.4M CNY	134.6M CNY
Accounts and notes receivable of the Consolidated VIEs without recourse to the primary beneficiaries	2.2B CNY	1.7B CNY
Restricted cash-non-current	22.1M CNY	42.8M CNY	882.0K CNY
Operating lease right-of-use assets, net	4.9B CNY	4.6B CNY
Deferred tax assets, net	251.6M CNY	306.6M CNY
Current portion of long-term borrowings of the Consolidated VIEs without recourse to the primary beneficiaries	957.1M CNY	615.0M CNY
Amounts due to related parties of the consolidated VIEs without resource to the primary beneficiaries	415.9M CNY	355.7M CNY
Income taxes payable	154.3M CNY	69.6M CNY
Advances from customers	933.9M CNY	1.4B CNY
Current portion of deferred government grants of the Consolidated VIEs without recourse to the primary beneficiaries	51.1M CNY	6.7M CNY
Accrued expenses and other payables of the Consolidated VIEs without recourse to the primary beneficiaries	5.5B CNY	3.6B CNY
Long-term bank borrowings of the Consolidated VIEs without recourse to the primary beneficiaries	11.6B CNY	7.8B CNY
Non-current portion of finance lease liabilities of the Consolidated VIEs without recourse to the primary beneficiaries	1.6B CNY	1.5B CNY
Non-current portion of operating lease liabilities	4.0B CNY	3.8B CNY

Period ending	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Cash and cash equivalents	5.5B CNY	1.5B CNY	2.2B CNY
Restricted cash	656.0M CNY	545.8M CNY	2.9B CNY
Short-term investments	379.2M CNY
Prepaid expenses and other current assets	2.2B CNY	2.8B CNY
Total current assets	11.5B CNY	6.8B CNY
Derivative financial instrument	11.2M CNY	6.8M CNY
Long-term investments, net	1.1B CNY	794.7M CNY
Property and equipment, net	22.8B CNY	17.2B CNY
Intangible assets, net	2.0B CNY	1.4B CNY
Land use rights, net	867.8M CNY	766.2M CNY
Other non-current assets	1.3B CNY	381.1M CNY
Total non-current assets	33.1B CNY	25.5B CNY
Total assets	44.6B CNY	32.4B CNY
Short-term bank borrowings (including amounts of consolidated VIEs without recourse to the Company of RMB589,000 and RMB1,086,997 as of December 31, 2024 and 2025, respectively)	1.2B CNY	589.0M CNY
Current portion of long-term borrowings (including amounts of consolidated VIEs without recourse to the Company of RMB1,093,160 and RMB1,657,840 as of December 31, 2024 and 2025, respectively)	2.1B CNY	1.4B CNY
Current portion of finance lease liabilities (including amounts of consolidated VIEs without recourse to the Company of RMB94,162 and RMB229,691 as of December 31, 2024 and 2025, respectively)	358.0M CNY	208.3M CNY
Current portion of operating lease liabilities (including amounts of consolidated VIEs without recourse to the Company of RMB881,025 and RMB941,603 as of December 31, 2024 and 2025, respectively)	962.3M CNY	899.8M CNY
Accounts and notes payable (including amounts of consolidated VIEs without recourse to the Company of RMB574,642 and RMB610,988 as of December 31, 2024 and 2025, respectively)	741.9M CNY	709.3M CNY
Deferred revenue (including amounts of consolidated VIEs without recourse to the Company of RMB80,435 and RMB124,401 as of December 31, 2024 and 2025, respectively)	138.7M CNY	87.8M CNY
Total current liabilities	12.4B CNY	9.3B CNY
Convertible notes	5.1B CNY	1.9B CNY
Unrecognized tax benefits (including amounts of consolidated VIEs without recourse to the Company of RMB107,850 and RMB118,734 as of December 31, 2024 and 2025, respectively)	118.7M CNY	107.8M CNY
Deferred tax liabilities (including amounts of consolidated VIEs without recourse to the Company of RMB118,374 and RMB106,232 as of December 31, 2024 and 2025, respectively)	840.4M CNY	734.4M CNY
Deferred government grants (including amounts of consolidated VIEs without recourse to the Company of RMB38,654 and RMB82,493 as of December 31, 2024 and 2025, respectively)	260.3M CNY	273.8M CNY
Total non-current liabilities	23.6B CNY	16.1B CNY
Total liabilities	36.0B CNY	25.4B CNY
Redeemable noncontrolling interests	1.7B CNY
Total mezzanine equity	1.7B CNY
Treasury shares	-179.1M CNY	-161.9M CNY
Additional paid-in capital	17.4B CNY	17.3B CNY
Statutory reserves	116.3M CNY	107.4M CNY
Accumulated other comprehensive (loss) income	46.4M CNY	-18.5M CNY
Accumulated deficit	-11.1B CNY	-10.9B CNY
Total VNET Group, Inc. shareholders' equity	6.2B CNY	6.4B CNY
Noncontrolling interests	634.4M CNY	554.9M CNY
Total shareholders' equity	6.9B CNY	6.9B CNY	6.5B CNY	7.0B CNY
Total liabilities, mezzanine equity and shareholders' equity	44.6B CNY	32.4B CNY
Allowance for doubtful debt of the Consolidated VIEs without recourse to the primary beneficiaries	267.7M CNY	189.5M CNY	188.4M CNY	134.6M CNY
Accounts and notes receivable of the Consolidated VIEs without recourse to the primary beneficiaries	2.2B CNY	1.7B CNY
Restricted cash-non-current	22.1M CNY	42.8M CNY	882.0K CNY
Operating lease right-of-use assets, net	4.9B CNY	4.6B CNY
Deferred tax assets, net	251.6M CNY	306.6M CNY
Current portion of long-term borrowings of the Consolidated VIEs without recourse to the primary beneficiaries	957.1M CNY	615.0M CNY
Amounts due to related parties of the consolidated VIEs without resource to the primary beneficiaries	415.9M CNY	355.7M CNY
Income taxes payable	154.3M CNY	69.6M CNY
Advances from customers	933.9M CNY	1.4B CNY
Current portion of deferred government grants of the Consolidated VIEs without recourse to the primary beneficiaries	51.1M CNY	6.7M CNY
Accrued expenses and other payables of the Consolidated VIEs without recourse to the primary beneficiaries	5.5B CNY	3.6B CNY
Long-term bank borrowings of the Consolidated VIEs without recourse to the primary beneficiaries	11.6B CNY	7.8B CNY
Non-current portion of finance lease liabilities of the Consolidated VIEs without recourse to the primary beneficiaries	1.6B CNY	1.5B CNY
Non-current portion of operating lease liabilities	4.0B CNY	3.8B CNY

Cash from operations⁷⁶$115.3M in 2019+12% since 2018

Capital spending⁷⁶$179.4M in 2019+183% since 2018

Free cash flow⁷⁶-$64.1M in 2019

Every line of the cash flow as filed: the last 3 fiscal years, latest first.⁴

Period ending	2025-12-31	2024-12-31	2023-12-31
Net (loss) income	-133.4M CNY	248.4M CNY	-2.6B CNY
Foreign exchange loss (gain), net	-5.5M CNY	19.2M CNY	79.0M CNY
Depreciation and amortization	2.1B CNY	1.6B CNY	1.8B CNY
Loss (gain) on disposal of property and equipment	-37.4M CNY	-126.6M CNY	3.2M CNY
Provision for doubtful debt	102.7M CNY	107.9M CNY	368.5M CNY
Share-based compensation expense	25.8M CNY	148.6M CNY	35.3M CNY
Deferred income tax (benefits) expenses	61.6M CNY	-12.9M CNY	-43.2M CNY
Gain from equity method investments	-6.9M CNY	-8.0M CNY	-3.3M CNY
Gain from disposal of subsidiaries	-469.8M CNY		-495.0K CNY
Impairment of long-lived assets			506.7M CNY
Impairment of goodwill			1.4B CNY
Impairment of long-term investments			11.2M CNY
Reduction in the carrying amount of right-of-use assets	679.8M CNY	470.6M CNY	433.1M CNY
Changes in the fair value of financial instruments	314.3M CNY	74.1M CNY	165.9M CNY
Gain on debt extinguishment of 2027 convertible notes		-246.2M CNY
Loss on debt extinguishment of 2026 convertible notes		41.3M CNY
Accounts and notes receivable	-663.7M CNY	-62.0M CNY	-5.8M CNY
Amounts due from related parties	23.4M CNY	-25.1M CNY	-2.9M CNY
Prepaid expenses and other current assets	264.9M CNY	115.0M CNY	-365.8M CNY
Accounts and notes payables	32.6M CNY	20.0M CNY	-24.4M CNY
Amounts due to related parties	60.2M CNY	-401.0K CNY	6.1M CNY
Income taxes payable	84.8M CNY	34.4M CNY	-6.8M CNY
Unrecognized tax benefits	10.9M CNY	9.4M CNY	11.3M CNY
Advances from customers	-438.7M CNY	-226.4M CNY	447.3M CNY
Deferred revenue	50.8M CNY	-5.6M CNY	399.0K CNY
Deferred government grants	89.5M CNY	140.9M CNY	155.3M CNY
Operating lease liabilities	-648.7M CNY	-449.1M CNY	-481.6M CNY
Accrued expenses and other payables	395.3M CNY	139.7M CNY	200.1M CNY
Net cash generated from operating activities	1.9B CNY	2.0B CNY	2.1B CNY
Purchases of property and equipment	-7.7B CNY	-4.9B CNY	-3.0B CNY
Purchases of intangible assets	-210.6M CNY	-130.1M CNY	-50.9M CNY
Purchases of land use rights		-74.6M CNY	-42.3M CNY
Proceeds from disposal of property and equipment	63.2M CNY	276.8M CNY	31.7M CNY
Proceeds from disposal of subsidiaries, net	756.0M CNY		12.7M CNY
Payments for short-term investments	-1.5B CNY	-167.1M CNY	-503.3M CNY
Payments of loans to third parties		-39.1M CNY	-1.6M CNY
Receipts of loans to third parties	40.5M CNY		94.0M CNY
Payments of loans to related parties	-116.4M CNY	-63.9M CNY	-115.0M CNY
Receipt of loans to a related party		28.3M CNY	9.8M CNY
Proceeds received from maturity of short-term investments	1.1B CNY	529.4M CNY	144.5M CNY
Proceeds from disposal of long-term investments	22.0M CNY	26.9M CNY
Payments for long-term investments	-278.6M CNY	-53.7M CNY	-517.3M CNY
Proceeds from collection of the deposit associated with an acquisition	9.5M CNY	200.0M CNY
Payments for acquisitions, net of cash acquired	-279.4M CNY		2.0K CNY
Net cash used in investing activities	-8.0B CNY	-4.4B CNY	-3.9B CNY
Proceeds from issuance of ordinary shares (Note 25)			2.1B CNY
Payment of issuance costs of ordinary shares		-35.8M CNY	-1.9M CNY
Proceeds from long-term bank borrowings	5.0B CNY	3.0B CNY	1.8B CNY
Proceeds from short-term bank borrowings	1.3B CNY	818.0M CNY	30.0M CNY
Proceeds from other long-term borrowings	1.3B CNY	1.8B CNY	1.0B CNY
Repayments of long-term bank borrowings	-725.9M CNY	-822.3M CNY	-292.6M CNY
Proceeds from borrowings from non controlling shareholder	1.4B CNY
Repayments of short-term bank borrowings	-743.4M CNY	-259.0M CNY
Repayments and deposits for other long-term borrowings	-1.4B CNY	-765.9M CNY	-268.1M CNY
Payments for purchase of property and equipment through finance leases	-211.6M CNY	-102.6M CNY	-210.9M CNY
Proceeds from loan from a related party (Note 22)			350.0M CNY
Repayment of loans from third parties			-78.0M CNY
Contribution from noncontrolling interest in subsidiaries	1.6B CNY	16.0M CNY
Payments for acquisition of noncontrolling interest	-303.3M CNY	-46.4M CNY	-10.1M CNY
Payments for share repurchase and cancellation	-17.2M CNY
Refund of prepayment for share repurchase plan			7.3M CNY
Dividends to noncontrolling interests		-26.3M CNY	-11.4M CNY
Dividends to redeemable noncontrolling interests	-34.3M CNY
Payments for other financing activities	-5.1M CNY
Net cash generated from (used in) financing activities	10.2B CNY	-627.7M CNY	3.9B CNY
Effect of foreign exchange rate changes on cash and cash equivalents and restricted cash	-7.2M CNY	-4.9M CNY	10.0M CNY
Net increase (decrease) in cash and cash equivalents and restricted cash	4.1B CNY	-3.0B CNY	2.1B CNY
Income taxes paid	-422.3M CNY	-211.9M CNY	-145.6M CNY
Interest paid	-570.7M CNY	-434.2M CNY	-251.1M CNY
Right-of-use assets obtained in exchange for new operating lease liabilities	932.9M CNY	1.1B CNY	953.0M CNY
Property and equipment obtained in exchange for new finance lease liabilities	506.7M CNY	593.4M CNY	266.0M CNY
Purchase of property and equipment included in accrued expenses and other payables	192.9M CNY	940.8M CNY	270.9M CNY
Purchase of intangible assets included in accrued expenses and other payables	25.1M CNY	219.0K CNY	3.5M CNY
Payables for issuance cost of ordinary shares included in accrued expenses and other payables			35.8M CNY
Asset acquisition settled with equity interests of a subsidiary			117.0M CNY
Consideration payable for acquisition of noncontrolling interest included in accrued expenses and other payables			47.5M CNY

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Leadership

Who has led 21Vianet, and when. Pick a name to see everywhere that person has worked.

2010201520202025

Chief executive officerSheng Chen Mar 17, 2026 to now⁸
ChairSheng Chen Mar 17, 2026 to now⁸
Chief financial officerQiyu Wang Mar 17, 2026 to now⁹

Board members and other officers (5)

SVP, Operational FinanceZhihua Zhang Mar 17, 2026 to now¹⁰
Board memberDavid Lifeng Chen Mar 17, 2026 to now¹¹
Board memberKenneth Tai Mar 17, 2026 to now¹²
Board memberSean Shao Mar 17, 2026 to now¹³
Board memberYoshihisa Ueno Mar 17, 2026 to now¹⁴

Former names

21Vianet Group, Inc.Apr 6, 2011 to Oct 8, 2021⁵
21 Vianet Group, Inc.Apr 4, 2011 to Apr 6, 2011⁵

Timeline

Mar 17, 2026New chief executive Sheng Chen becomes CEO⁸
Apr 21, 2011Went public Listed on NASDAQ¹
Oct 16, 2009Founded Founded¹

Filings

159 filings to the SEC since October 2021: 6 annual reports, 15 insider forms, 45 large holders, 93 other. The latest 20:

The 159 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

3 open-market trades by officers, directors and large owners since October 2021: 0 buys and 3 sales. Grants, option exercises and gifts are left out.

Date	Who	Trade	Shares	Price	Value	Filing
Jun 1, 2026	Shao SeanDirector	Sale	60,000	$1.71	$102.6K	Form 4
May 18, 2026	ZHANG ZHIHUASVP, Operational Finance	Sale	9,072	$1.69	$15.3K	Form 4
Mar 23, 2026	Chen David LifengDirector	Sale	83,544	$1.51	$126.2K	Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

PJ Millennium Limited PartnershipSCHEDULE 13D/A, 2 filings Aug 28, 2026 to Sep 23, 2026¹⁵
Sheng ChenSCHEDULE 13D/A, 13 filings Apr 8, 2022 to Sep 23, 2026¹⁶
Point72 Asset Management, L.P.SCHEDULE 13G/A, 4 filings Mar 14, 2025 to Aug 14, 2026¹⁷
Shandong Hi-Speed Holdings Group LtdSCHEDULE 13D/A, 2 filings Jan 5, 2024 to May 19, 2026¹⁸
Blackstone Tactical Opportunities Management Associates (Cayman) - NQ L.P.SCHEDULE 13D/A, 3 filings Feb 1, 2022 to Feb 18, 2026¹⁹
NORGES BANKSCHEDULE 13G/A, 3 filings Jul 31, 2025 to Jan 28, 2026²⁰
Samarra Co LtdSCHEDULE 13G/A, 3 filings Nov 25, 2022 to May 15, 2025²¹
FIL LtdSCHEDULE 13G/A, 4 filings Feb 9, 2023 to Feb 12, 2025²²
Ares Management GP LLCSC 13G/A, 3 filings Mar 23, 2022 to Sep 3, 2024²³
GIC Private LtdSC 13G/A, 3 filings Feb 8, 2022 to Feb 13, 2024²⁴
Majara Investment LtdSC 13G/A, 2 filings Mar 3, 2022 to Nov 25, 2022²⁵

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
Point72 Asset Management, L.P.	18,290,761	$147.1M	0.2%	+2,177,366
Triata Capital Ltd	11,763,935	$94.6M	16.1%	+576,253
Blackstone Inc.	10,402,130	$83.6M	0.3%	No change
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	9,666,879	$77.7M	0.1%	+3,805,601
Millennium Management LLC	8,768,940	$70.5M	0.0%	+3,565,311
Norges Bank	8,527,387	$68.6M	0.0%	New
Morgan Stanley	7,876,504	$63.3M	0.0%	+785,530
UBS Group AG	4,964,476	$39.9M	0.0%	−772,932
Carmignac Gestion	4,760,599	$38.1M	0.5%	+4,437,879
BlackRock, Inc.	3,919,113	$31.5M	0.0%	+351,407
D. E. Shaw & Co., Inc.	3,531,345	$28.4M	0.0%	+1,004,171
Temasek Holdings (Private) Ltd	3,525,444	$28.3M	0.1%	+2,079,444
Oasis Management Co Ltd.	3,449,188	$27.7M	3.2%	−1,170,000
Hsbc Holdings PLC	3,429,901	$27.2M	0.0%	+3,014,875
Bank Of America Corp /de/	3,382,300	$27.2M	0.0%	+2,739,688
Pinpoint Asset Management (Singapore) Pte. Ltd.	3,368,659	$27.1M	6.8%	+3,316,689
Manufacturers Life Insurance Company, The	3,201,968	$25.7M	0.0%	+578,374
Senvest Management, LLC	3,099,637	$24.9M	0.7%	+320,000
Tiger Pacific Capital LP	2,909,886	$23.4M	10.9%	+2,143,661
Goldman Sachs Group Inc	2,498,356	$20.1M	0.0%	−2,204,424
Vanguard Capital Management LLC	2,043,809	$16.4M	0.0%	+2,235
Farallon Capital Management, L.l.c.	1,992,000	$16.0M	0.1%	+1,368,653
CoreView Capital Management Ltd	1,988,929	$16.0M	2.9%	New
Dimensional Fund Advisors LP	1,567,498	$12.6M	0.0%	+96,844
Capital International Investors	1,495,191	$12.0M	0.0%	+41,932

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
Wikidata21Vianet on Wikidata
2
SEC EDGAR21Vianet filings on SEC EDGAR
3
Wikipedia21Vianet on Wikipedia
4
SEC EDGAR21Vianet 10-K for fiscal 2025
5
SEC EDGAR21Vianet filings on SEC EDGAR
6
SEC EDGAR21Vianet 10-K for fiscal 2019
7
SEC EDGAR21Vianet 10-K for fiscal 2018
8
SEC EDGARSheng Chen, Chief executive officer
9
SEC EDGARQiyu Wang, Chief financial officer
10
SEC EDGARZhihua Zhang, SVP, Operational Finance
11
SEC EDGARDavid Lifeng Chen, Board member
12
SEC EDGARKenneth Tai, Board member
13
SEC EDGARSean Shao, Board member
14
SEC EDGARYoshihisa Ueno, Board member
15
SEC EDGARPJ Millennium Limited Partnership SCHEDULE 13D/A on 21Vianet
16
SEC EDGARSheng Chen SCHEDULE 13D/A on 21Vianet
17
SEC EDGARPoint72 Asset Management, L.P. SCHEDULE 13G/A on 21Vianet
18
SEC EDGARShandong Hi-Speed Holdings Group Ltd SCHEDULE 13D/A on 21Vianet
19
SEC EDGARBlackstone Tactical Opportunities Management Associates (Cayman) - NQ L.P. SCHEDULE 13D/A on 21Vianet
20
SEC EDGARNORGES BANK SCHEDULE 13G/A on 21Vianet
21
SEC EDGARSamarra Co Ltd SCHEDULE 13G/A on 21Vianet
22
SEC EDGARFIL Ltd SCHEDULE 13G/A on 21Vianet
23
SEC EDGARAres Management GP LLC SC 13G/A on 21Vianet
24
SEC EDGARGIC Private Ltd SC 13G/A on 21Vianet
25
SEC EDGARMajara Investment Ltd SC 13G/A on 21Vianet