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VNET Group, Inc. (VNET) Q4 2023 Earnings Call Transcript

BEIJING , March 14, 2024 /PRNewswire/ -- VNET Group, Inc. (Nasdaq: VNET) ("VNET" or the "Company"), a leading carrier- and cloud-neutral internet data center services provider in China, today announced that it will report its unaudited fourth quarter and full year 2023 financial results on Wednesday, March 27, 2024, after the close of U.S. markets. The Company's management will host an earnings conference call at 9:00 PM U.S. Eastern Time on Wednesday, March 27, 2024, or 9:00 AM Beijing Time on Thursday, March 28, 2024.

VNET Group, Inc. (NASDAQ:VNET ) Q3 2023 Earnings Conference Call November 15, 2023 8:00 PM ET Company Participants Xinyuan Liu - IRO Jeff Dong - CEO Qiyu Wang - CFO Conference Call Participants Yang Liu - Morgan Stanley Charlie Bai - Jefferies Timothy Zhao - Goldman Sachs Daley Li - Bank of America Securities Operator Hello, ladies and gentlemen. Thank you for standing by for standing by for the Third Quarter 2023 Earnings Conference Call for VNET Group, Inc. At this time all participants are in listen-only mode.

Bain Capital's takeover offer for VNET Group's peer Chindata lends support to the argument that worldwide and Chinese data center markets have significant growth potential. However, the implied EV/EBITDA valuation multiple relating to Bain Capital's offer price isn't that appealing, and this limits the valuation expansion potential for other listed data center companies like VNET Group. I am lowering my rating for VNET Group stock to a hold, in view of the mixed signals emerging from the proposed buyout offer for its peer.

VNET Group, Inc. (NASDAQ:VNET ) Q1 2023 Earnings Conference Call May 24, 2023 9:00 PM ET Company Participants Xinyuan Liu - Director, IR Jeff Dong - CEO Tim Chen - CFO Conference Call Participants Yang Liu - Morgan Stanley Edison Lee - Jefferies Ethan Zhang - Nomura Securities Jasmine Huang - UBS Operator Hello, ladies and gentlemen. Thank you for standing by for First Quarter 2023 Earnings Conference Call for VNET Group Inc. [Operator Instructions].

VNET Group, Inc. (NASDAQ:VNET ) Q4 2022 Earnings Conference Call March 21, 2023 9:00 PM ET Company Participants Xinyuan Liu - Investor Relations Jeff Dong - Chief Executive Officer Tim Chen - Chief Financial Officer Conference Call Participants Yang Liu - Morgan Stanley Sara Wang - UBS Edison Lee - Jefferies Operator Hello, ladies and gentlemen. Thank you for standing by for the Fourth Quarter and Full Year 2022 Earnings Conference Call for VNET Group Inc. [Operator Instructions] Participants from our management include Mr.

VNET Group's peer valuation comparison and the recent buyout offers for the company lend support to the thesis that its shares are undervalued. Even assuming that the privatization offers aren't successful, VNET Group's recent partnership with a state-owned enterprise suggests that the company's mid-to-long term growth prospects are bright.

VNET Group, Inc. (NASDAQ:VNET ) Q3 2022 Earnings Conference Call November 22, 2022 8:00 PM ET Corporate Participants Xinyuan Liu - Investor Relations Director Jeff Dong - Chief Executive Officer Tim Chen - Chief Financial Officer Conference Call Participants Yang Liu - Morgan Stanley Edison Lee - Jefferies Sara Wang - UBS Ethan Zhang - Nomura Operator Hello, ladies and gentlemen. Thank you for standing by for the Third Quarter 2022 Earnings Conference Call for VNET Group, Inc. At this time, all participants are in a listen-only mode.

21Vianet (VNET) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.

VNET Group has now received a second non-binding buyout offer at $8.2/ADS. The bid comes from the founder/CEO who owns 28% of voting shares.