VNET posted 2Q 2026 net revenues of RMB 2.78 billion, up 14.2% year-over-year.
Net loss attributable to ordinary shareholders widened to RMB 144.68 million; loss per ADS was RMB 0.54.
Wholesale IDC net revenues climbed 29.3% to RMB 1.1 billion, lifting wholesale to 39.8% of total net revenues.
Adjusted EBITDA (non-GAAP) rose 25.4% to RMB 918.3 million; margin expanded 3 percentage points to 33%.
Management cited a 345MW wholesale order; full-year outlook was kept at RMB 11.5 billion to RMB 11.8 billion in net revenues and RMB 3.55 billion to RMB 3.75 billion in adjusted EBITDA.
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