On June 1, VNET Group rose 8.23% in regular trading, trading at $10.91/share, with trading volume of approximately $24.07 million. The rally was driven by a combination of better-than-expected Q1 earnings and the continued catalytic effect of a major strategic investment.

On the earnings front, VNET reported Q1 total net revenue of RMB 2.69 billion, up 19.8% year-over-year, slightly beating the FactSet consensus estimate of RMB 2.68 billion. Adjusted EBITDA reached RMB 892 million, up 30.6% YoY, exceeding market expectations by 1.3%. Notably, wholesale IDC business revenue surged 58.1% YoY to RMB 1.06 billion, surpassing retail revenue for the first time — a milestone signaling a structural inflection point.

The strategic catalyst stems from the announcement that a CATL-affiliated entity will acquire approximately 38.78% of VNET shares from Shandong Hi-Speed Holdings for $942 million, with closing expected in Q4. The two parties also signed a strategic cooperation framework agreement to jointly build a green energy plus efficient computing power integrated ecosystem, constructing a battery-power supply-computing industrial closed loop. CICC raised its target price to $15, maintaining an Outperform rating.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)