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VNET Group's Q2 2026 Net Revenues Rise 14.2% to RMB 2.78 Billion, Wholesale IDC Capacity Exceeds 1 Gigawatt for First Time
VNET Group (VNET) reported its second-quarter 2026 earnings, with total net revenues increasing by 14.2% year-over-year to RMB 2.78 billion. Adjusted EBITDA grew 25.4% year-over-year to RMB 918.3 million, primarily driven by its wholesale IDC business. The company secured 347 megawatts in new order wins during the quarter, with wholesale IDC contributing 345 megawatts. As of June 30, 2026, wholesale capacity in service surged 49.4% year-over-year to 1,007 megawatts, surpassing 1 gigawatt for the first time. VNET also signed a strategic cooperation agreement with CATL to jointly develop a 3-layer integrated compute energy ecosystem.
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