On June 9, VNET Group rose 8.91% in regular trading, trading at $9.48/share, with trading volume of $17.41 million.

On the news front, Goldman Sachs released its latest research report listing the cloud and data center sub-sector as its most favored area for H2, naming VNET Group as one of its primary recommended stocks alongside Alibaba, GDS Holdings, and Kingsoft Cloud. The investment bank had previously issued a Buy rating on VNET, citing its transformation into a fast-growing wholesale IDC operator with approximately 70% of its orders in a recent period sourced from AI demand.

Additionally, a CATL-affiliated entity plans to acquire approximately 38.78% of VNET Group for roughly $942 million, set to become the largest shareholder upon expected Q4 closing. On the earnings front, the company reported Q1 total net revenue of RMB 2.691 billion, up 19.8% year-over-year, with adjusted EBITDA of RMB 892 million, up 30.6%, beating expectations. Notably, wholesale IDC business net revenue surged 58.1% year-over-year, surpassing retail revenue for the first time — a milestone shift in business structure. Consensus target price stands at $16.38, implying significant upside from current levels.

(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.)