On June 2, VNET Group rose 9.81% in regular trading, trading at $11.14/share, with trading volume of approximately $16.22 million.

On the news front, the company recently reported Q1 results showing total net revenue of RMB 2.691 billion, up 19.8% year-over-year, slightly exceeding the FactSet consensus estimate of RMB 2.68 billion. Adjusted EBITDA reached RMB 892 million, up 30.6% YoY. Notably, wholesale IDC business revenue surged 58.1% YoY to RMB 1.06 billion, surpassing retail IDC revenue for the first time — marking a milestone structural shift.

A more significant catalyst stems from the strategic level. Shandong Hi-Speed Holdings announced the sale of its approximately 38.78% stake in VNET to a CATL-affiliated entity 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 integrated ecosystem. CICC raised its target price to $15, citing potential synergies in energy storage, green power, and AI data center order acquisition. Morgan Stanley highlighted that a recent 500 MW order win enhances growth visibility over the next three years.

(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.)