# VNET Group, Inc. (VNET)

> Source: Nexqual · https://nexqual.com/VNET · data as of 2026-10-23 13:30 UTC · cite as "Nexqual, VNET Group, Inc. (VNET), nexqual.com/VNET" · informational, not investment advice.

**Price:** USD 3.86 (+1.77% today) · US market open, as of October 23, 2026 at 13:30 UTC; quotes may be delayed. Prev close 3.79 · day 3.86–3.89 · 52w 3.62–14.48 · market cap $1.10B · NMS

## Key facts
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $118K; 2 not under a Rule 10b5-1 plan ($118K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.64 on a 1–5 scale) (14 analysts), mean target USD 13.7 (range 7.55–25.2).
- Total return with dividends: 1Y -58.9% vs S&P 500 +14.9%; 5Y -75.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-19, EPS estimate USD -0.16, revenue estimate $2.98B.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-01 | Shao Sean | Director | 60,000 | $103K | 5.7% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-18 | Zhang Zhihua | SVP, Operational Finance | 9,072 | $15K | 21.1% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.64 on a 1–5 scale), 14 analysts; mean target USD 13.7 (low 7.55, high 25.2).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-07-07 | Deutsche Bank | Initiated | Buy | $12.5 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -58.9% | -75.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -59.0% | -24.5% |
| Volatility (annualized) | 77.4% | 81.5% |
| Max drawdown | -73.0% (Feb 2026→Oct 2026) | -91.7% (Nov 2021→Jan 2024) |

## Peers (Information Technology Services)
PONY (Pony AI Inc.) USD 5.13 +2.19% · CHRN (ChronoScale Holdings Corporatio) USD 15.5 +0.26% · CSQR (Csquare, Inc.) USD 14.57 -2.25% · DXC (DXC Technology Company) USD 15.83 -1.59% · PENG (Penguin Solutions, Inc.) USD 50.89 -1.96% · KD (Kyndryl Holdings, Inc.) USD 14.91 -1.91%

## More
Full page: https://nexqual.com/VNET · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in VNET's own 20-F filed 2026-04-16 (https://www.sec.gov/Archives/edgar/data/1508475/000110465926044361/vnet-20251231x20f.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Microsoft (MSFT) | "Failure to maintain our partnership with Microsoft may have a material and adverse effect on our operations and the strategic goals of our cloud service business." |
| Partner | Dajia Investment Holding | "In November 2024, we entered into a Cooperation Framework Agreement with Dajia Investment Holding Co., Ltd. and others to collaborate on a data center project located in eastern China." |
| Partner | Personal Group | "In August 2024, Mr. Sheng Chen, GenTao, Fast Horse, Sunrise, Personal Group Limited, Success Flow and Choice Faith entered into the Letter Agreement pursuant to which the parties confirmed that a Triggering Event under t…" |
| Competitor | Amazon (AMZN) | "We compete with various industry players, including telecommunication carriers such as China Telecom, China Unicom and China Mobile, carrier-neutral service providers in China such as SINNET, GDS and Chindata, cloud serv…" |
| Competitor | Alibaba (BABA) | "We compete with various industry players, including telecommunication carriers such as China Telecom, China Unicom and China Mobile, carrier-neutral service providers in China such as SINNET, GDS and Chindata, cloud serv…" |

Other companies that name VNET in their own reports (relationship from VNET's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| supplier | Global Engine Group Holding Ltd (GLE) | 20-F 2025-10-21 | "For the year ended June 30, 2025, three major third-party customers, (i) Intellino Tech Sdn Bhd; (ii) VNET Group, Inc.; and (iii) Teligent" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.16 | $-0.16 | +0.0% | $2.98B | 1 |
| Next quarter (ends 2026-12-31) | $0.25 | $0.25 | +0.0% | $3.22B | 1 |
| Current fiscal year (ends 2026-12-31) | $-4.48 | $-8.79 | -49.0% | $11.69B | 4 |
| Next fiscal year (ends 2027-12-31) | $0.94 | $1.40 | -33.0% | $14.32B | 4 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-19): ±24.9%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 110.0% | ±24.9% |
| 2026-12-18 | 56 | 97.9% | ±30.7% |
| 2027-01-15 | 84 | 83.8% | ±32.0% |
| 2027-03-19 | 147 | 91.3% | ±45.4% |
| 2027-06-17 | 237 | 86.0% | ±53.7% |