VNET Q2 Revenue Jumps 14% on Wholesale Growth, Inks Compute-Energy Deal with CATL
VNET sits 20% above its 52-week low of $6.17.
Summary
VNET reported Q2 revenue of RMB 2.78 billion, up 14.2% year-over-year, driven by a 29.3% surge in wholesale IDC revenue. Adjusted EBITDA rose 25.4% to RMB 918.3 million, though net loss widened to RMB 135.6 million on higher depreciation from rapid capacity expansion. The company also signed a strategic cooperation agreement with CATL to develop integrated compute-energy ecosystems, adding a new growth vector. Full-year 2026 guidance was reiterated: revenue of RMB 11.5-11.8 billion, adjusted EBITDA of RMB 3.55-3.75 billion, and capex of RMB 10-12 billion. The CATL partnership and strong wholesale momentum support the bullish analyst consensus, with a median price target of $15.10 versus the $7.92 close.
At the time of this announcement, VNET was trading at $7.43 on NASDAQ in the Technology sector, with a market capitalization of approximately $2.3B. The 52-week trading range was $6.17 to $14.48. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.