Shares of VNET Group (VNET), a leading internet and data center services provider in China, plummeted 6.71% during Thursday's trading session. The significant drop comes as investors appear to be positioning themselves cautiously ahead of the company's upcoming first-quarter earnings report.

VNET Group is scheduled to release its Q1 2025 financial results on Wednesday before the market opens. Analysts are projecting an earnings per share (EPS) of -$0.02 for the quarter, indicating a potential loss for the period. This anticipated negative EPS seems to be fueling investor concerns about the company's performance in the face of challenging economic conditions.

The sharp decline in VNET's stock price may also reflect broader apprehensions about the Chinese technology sector. As the earnings report approaches, market participants appear to be adjusting their positions, leading to increased selling pressure on the stock. Investors will be closely watching VNET Group's Q1 results for insights into the company's financial health and its ability to navigate the current market environment.