VNET Group, Inc. demonstrated robust performance in Q3 2025, with a 21.7% year-over-year increase in net revenues, driven by substantial growth in its wholesale IDC business and a further increase in full-year guidance.
- Wholesale revenue surged by 82.7% year-over-year to RMB 956 million, highlighting strong demand and operational efficiency.
- Adjusted EBITDA rose 27.5% year-over-year to RMB 758 million.
- Secured new orders totaling 63 megawatts in wholesale capacity, with additional momentum heading into Q4 2025.
- Retail MRR per cabinet reached RMB 8,948, marking six consecutive quarters of growth.
- Strong AI-driven demand continues to propel growth in both wholesale and retail IDC segments.
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