VNET's Q1 EBITDA jumps 30.6% YoY, new major shareholder boosts strategic outlook

VNET Group reported a 30.6% year-over-year increase in Q1 2026 EBITDA to CNY0.89 billion, surpassing market expectations by 6%. The growth was driven by strong AI-related demand and effective cost management. Additionally, the entry of CYATY's affiliates as a 38.1% shareholder strengthens VNET's strategic position and supports compliance with green energy regulations. The company remains a Buy-rated stock due to these positive developments and improved shareholder backing.