VNET reports 19.8% revenue growth in Q1 2026, driven by strong wholesale data center demand.

VNET Group, a leading data center services provider in China, announced a 19.8% year-over-year revenue increase to RMB2.69 billion in Q1 2026, fueled by a 58.1% surge in wholesale IDC revenues. The company secured 517MW of new orders and advanced its green data center projects, strengthening its market position. Strategic investment from CATL affiliates is expected to enhance technology and supply chain synergies. VNET projects 15.6%-18.6% revenue growth for full-year 2026, focusing on AI-driven opportunities and sustainable expansion.