# VNET Group, Inc.: Form 20-F for the period ended Dec 31, 2025

- Company: [VNET Group, Inc.](/companies/vnet.md) (CIK 1508475)
- Form: 20-F
- Filed: 2026-04-16
- Accepted by EDGAR: Apr 16, 2026, 16:06 ET
- Period: 2025-12-31
- Accession: 0001104659-26-044361
- Inline XBRL: yes
- Main document: https://www.sec.gov/Archives/edgar/data/1508475/000110465926044361/vnet-20251231x20f.htm
- All documents and exhibits: https://www.sec.gov/Archives/edgar/data/1508475/000110465926044361/

## Figures reported in this filing

Standardized XBRL line items for the period ended 2025-12-31.

| Line item | Period | Value | XBRL concept |
| --- | --- | ---: | --- |
| Gross profit | 12 months, 2025-01-01 to 2025-12-31 | $313.5m | us-gaap:GrossProfit |
| Research and development | 12 months, 2025-01-01 to 2025-12-31 | $37.3m | us-gaap:ResearchAndDevelopmentExpense |
| Operating income | 12 months, 2025-01-01 to 2025-12-31 | $111.6m | us-gaap:OperatingIncomeLoss |
| Interest expense | 12 months, 2025-01-01 to 2025-12-31 | $85.6m | us-gaap:InterestExpense |
| Income tax | 12 months, 2025-01-01 to 2025-12-31 | $79.7m | us-gaap:IncomeTaxExpenseBenefit |
| Net income | 12 months, 2025-01-01 to 2025-12-31 | −$36.0m | us-gaap:NetIncomeLoss |
| Diluted EPS | 12 months, 2025-01-01 to 2025-12-31 | −$0.02 | us-gaap:EarningsPerShareDiluted |
| Basic EPS | 12 months, 2025-01-01 to 2025-12-31 | −$0.02 | us-gaap:EarningsPerShareBasic |
| Diluted shares (weighted) | 12 months, 2025-01-01 to 2025-12-31 | 1,612,272,787 shares | us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding |
| Operating cash flow | 12 months, 2025-01-01 to 2025-12-31 | $274.4m | us-gaap:NetCashProvidedByUsedInOperatingActivities |
| Capital expenditure | 12 months, 2025-01-01 to 2025-12-31 | $1.09bn | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment |
| Share repurchases | 12 months, 2025-01-01 to 2025-12-31 | $2.5m | us-gaap:PaymentsForRepurchaseOfCommonStock |
| Cash and equivalents | at 2025-12-31 | $789.9m | us-gaap:CashAndCashEquivalentsAtCarryingValue |
| Current assets | at 2025-12-31 | $1.64bn | us-gaap:AssetsCurrent |
| Total assets | at 2025-12-31 | $6.38bn | us-gaap:Assets |
| Current liabilities | at 2025-12-31 | $1.78bn | us-gaap:LiabilitiesCurrent |
| Total liabilities | at 2025-12-31 | $5.15bn | us-gaap:Liabilities |
| Shareholders' equity | at 2025-12-31 | $889.2m | us-gaap:StockholdersEquity |

## Sections

Sections are extracted only from 10-K and 10-Q reports. Read this filing’s documents on sec.gov. https://www.sec.gov/Archives/edgar/data/1508475/000110465926044361/vnet-20251231x20f.htm

Filed Apr 16, 2026.
Source: SEC EDGAR, the filing index for accession 0001104659-26-044361. Last ingested by Listed: Nov 3, 2026, 08:37 ET. No prices; not investment advice.