Vnet Group, Inc. (VNET): Analyse Pestle [Jan-2025 MISE À JOUR]

Dans le paysage rapide du cloud computing, Vnet Group, Inc. se tient à l'intersection critique de l'innovation technologique et de la dynamique mondiale complexe. Cette analyse complète du pilon dévoile les défis et les opportunités à multiples facettes auxquelles sont confrontés ce fournisseur d'infrastructures de cloud chinois, explorant comment les réglementations politiques, les changements économiques, les transformations sociétales, les progrès technologiques, les cadres juridiques et les considérations environnementales façonnent son positionnement stratégique dans un écosystème numérique de plus en plus compétitif. Plongez dans l'analyse complexe qui révèle les facteurs nuancés stimulant le modèle commercial de VNET et le potentiel futur.

Vnet Group, Inc. (VNET) - Analyse du pilon: facteurs politiques

Les réglementations strictes sur Internet et le cloud computing de la Chine

L'administration du cyberespace de la Chine (CAC) a été mise en œuvre 56 Nouvelles réglementations Internet En 2023, impactant directement les opérations du centre de données de Vnet. La loi sur la cybersécurité nécessite une localisation complète des données et une stricte conformité opérationnelle.

Aspect réglementaire	Exigence de conformité	Impact potentiel sur Vnet
Localisation des données	100% des données des utilisateurs chinois doivent être stockées en Chine continentale	Augmentation de l'investissement des infrastructures requise
Examen de la sécurité	Évaluations annuelles de cybersécurité obligatoires	Coût de conformité estimé: 3,2 millions de dollars par an

Politiques gouvernementales de cybersécurité

Le gouvernement chinois oblige des mesures de conformité complexes pour les fournisseurs de services cloud, notamment:

• Certification de sécurité du réseau obligatoire
• Protocoles de protection des données complètes
• Des audits de sécurité du gouvernement réguliers

Impact des tensions géopolitiques

Les restrictions technologiques américaines-chinoises ont créé des défis importants pour l'expansion internationale de Vnet. Règlement sur le contrôle des exportations mis en œuvre en 2023, restreignez le transfert de technologie et les partenariats internationaux.

Restriction géopolitique	Limitation spécifique	Impact potentiel de l'entreprise
Contrôles d'exportation de technologie américaine	Restrictions sur les technologies avancées des semi-conducteurs et du cloud computing	Perte des revenus potentiels: 47 millions de dollars en contrats internationaux potentiels

Initiatives d'infrastructure technologique soutenues par l'État

La stratégie de "Chine numérique" du gouvernement chinois fournit un soutien important au développement des infrastructures technologiques nationales.

• Investissement national de 1,4 billion de dollars dans les infrastructures numériques d'ici 2025
• Politiques fiscales préférentielles pour les fournisseurs de services cloud nationaux
• Préférences des achats gouvernementaux pour les entreprises technologiques locales

Initiative du gouvernement	Soutien financier	Avantage direct pour Vnet
Investissement d'infrastructure numérique	Investissement national de 1,4 billion de dollars	Opportunités potentielles d'expansion du marché
Incitations fiscales pour les entreprises technologiques	15% réduit le taux d'imposition des sociétés	Économies d'impôt annuelles estimées: 8,6 millions de dollars

Vnet Group, Inc. (VNET) - Analyse du pilon: facteurs économiques

Le paysage d'investissement de la technologie chinoise volatile crée des défis de financement

Les investissements de capital-risque de technologie chinoise ont refusé de 43,5 milliards de dollars en 2023, représentant un Réduction de 64% à partir des niveaux de 2022. Les sources de financement potentielles du groupe VNET ont été directement touchées par cette contraction des investissements.

Année	Volume d'investissement technologique	Changement d'une année à l'autre
2022	121,3 milliards de dollars	-
2023	43,5 milliards de dollars	-64%

Le ralentissement économique en Chine peut réduire les dépenses de cloud computing d'entreprise

Taux de croissance du PIB de la Chine de 5.2% en 2023, indique des contraintes potentielles sur les dépenses technologiques d'entreprise. Les dépenses de cloud computing d'entreprise devraient atteindre 8,7 milliards de dollars en 2024.

Indicateur économique	Valeur 2023	2024 projection
Croissance du PIB de la Chine	5.2%	4.6%
Dépenses de cloud d'entreprise	7,3 milliards de dollars	8,7 milliards de dollars

La tendance de transformation numérique croissante prend en charge la demande continue de services d'infrastructure cloud

Le marché de la transformation numérique de la Chine devrait atteindre 465 milliards de dollars d'ici 2025, avec des services d'infrastructure cloud représentant 27% de l'investissement numérique total.

Les fluctuations des taux de change ont un impact sur les performances financières internationales de VNET

La volatilité du taux de change USD / CNY en 2023 variait entre 6.85 et 7.35, créant des risques potentiels de traduction financière pour les opérations internationales de Vnet.

Paire de devises	2023 bas	2023 haut	Taux moyen
USD / CNY	6.85	7.35	7.10

Vnet Group, Inc. (VNET) - Analyse du pilon: facteurs sociaux

L'augmentation de la culture du travail à distance entraîne l'adoption des services cloud

Selon Statista, la pénétration du travail à distance de la Chine a atteint 41,2% en 2023, ce qui concerne directement la demande de services cloud. Les revenus des infrastructures cloud de VNET ont augmenté de 34,7% au troisième trimestre 2023, en corrélation avec les tendances de travail à distance.

Année	Pourcentage de travail à distance	Croissance du marché des services cloud
2022	36.5%	28.3%
2023	41.2%	34.7%

Gropping Digital Literacy parmi les entreprises chinoises

McKinsey rapporte que 67% des entreprises chinoises ont augmenté les investissements technologiques numériques en 2023, les services cloud représentant 42% des budgets de transformation numérique.

Catégorie d'investissement numérique	Pourcentage de budget
Services cloud	42%
Cybersécurité	22%
Intégration d'IA	18%

Acceptation de la technologie de la main-d'œuvre plus jeune

Les données IDC indiquent que 78% des professionnels chinois âgés de 25 à 35 ans préfèrent les outils collaboratifs basés sur le cloud. La clientèle d'entreprise de Vnet dans cette démographie a augmenté de 45% en 2023.

Groupe d'âge	Préférence technologique cloud	Croissance du client VNET
25-35 ans	78%	45%
36-45 ans	52%	23%

Sensibilisation à la cybersécurité croissante

Gartner Research montre que 62% des entreprises chinoises ont hiérarchisé les solutions cloud sécurisées en 2023, ce qui permet de 187,6 millions de dollars à Vnet Cloud Infrastructure.

Priorité de la cybersécurité	Pourcentage d'entreprise	Vnet Secure Cloud Revenue
Priorité élevée	62%	187,6 millions de dollars
Priorité moyenne	28%	85,3 millions de dollars

Vnet Group, Inc. (VNET) - Analyse du pilon: facteurs technologiques

Les progrès rapides des technologies informatiques 5G et Edge créent de nouvelles opportunités de service

Les investissements sur les infrastructures technologiques de Vnet Group démontrent des progrès significatifs dans les capacités informatiques 5G et Edge. Au troisième rang 2023, la société a rapporté:

Métrique technologique	Données spécifiques
Nœuds informatiques de bord	37 emplacements opérationnels
Couverture réseau 5G	68% des régions du centre de données primaires
Investissement technologique annuel	124,6 millions de dollars

Intelligence artificielle et intégration d'apprentissage automatique dans les services cloud

Les mesures de déploiement de l'IA et de l'apprentissage automatique de Vnet comprennent:

Paramètre AI / ML	Mesure quantitative
Services cloud compatibles AI	22 offres de services distinctes
Déploiements de modèle d'apprentissage automatique	146 modèles actifs
Investissement en infrastructure d'IA	43,2 millions de dollars en 2023

Investissement continu dans l'infrastructure du centre de données et les capacités de réseau

Détails d'expansion de l'infrastructure de Vnet:

Métrique d'infrastructure	État actuel
Centres de données totaux	47 installations opérationnelles
Capacité de bande passante du réseau	3,8 tbps
Infrastructure annuelle CAPEX	276,5 millions de dollars

Modèles de déploiement hybrides et multi-cloud émergents offres de services de remodelage

Mesures de stratégie de déploiement du cloud de Vnet:

Paramètre de déploiement cloud	Données quantitatives
Clients du cloud hybride	1 247 clients d'entreprise
Plates-formes de gestion multi-cloud	8 solutions intégrées
Revenus de services de migration cloud	89,3 millions de dollars en 2023

Vnet Group, Inc. (VNET) - Analyse du pilon: facteurs juridiques

Règlements rigoureux de protection des données en Chine

La loi chinoise sur la protection des informations personnelles (PIPL), à compter du 1er novembre 2021, impose des exigences strictes sur la conformité des données:

Aspect de la réglementation	Exigences spécifiques	Pénalité potentielle
Traitement des données personnelles	Consentement de l'utilisateur explicite obligatoire	Jusqu'à 5% des revenus annuels
Transfert de données transfrontalières	Nécessite l'approbation de l'administration de la cybersécurité	Amende maximale de 10 millions RMB
Localisation des données	Les données critiques doivent être stockées en Chine	Révocation de licence commerciale possible

Restrictions transfrontalières de transfert de données

Impact réglementaire: En 2024, Vnet doit effectuer des évaluations de sécurité obligatoires pour les transferts de données internationales, avec des coûts de conformité estimés à 2,5 à 3,5 millions de RMB par an.

Défis de protection de la propriété intellectuelle

Métrique de protection IP	2023 statistiques
Demandes de brevet	87 brevets technologiques enregistrés
Cas de litige	3 poursuites en cours de protection IP
Budget annuel de protection IP	RMB 4,2 millions

Législation sur la cybersécurité

Exigences opérationnelles:

• Certification de protection du niveau de sécurité du réseau obligatoire
• Coût annuel d'évaluation de la cybersécurité: 1,8 million de RMB
• La conformité à la loi sur la cybersécurité nécessite une équipe de sécurité dédiée de 12 professionnels

Investissement de sécurité du réseau: 22,6 millions RMB en 2023 pour l'infrastructure complète de la conformité juridique.

Vnet Group, Inc. (VNET) - Analyse du pilon: facteurs environnementaux

Accent croissant sur la conception et les opérations des centres de données éconergétiques en énergie

Les centres de données du groupe VNET consomment 73,5 MW de capacité d'énergie totale à partir de 2023. La société a mis en œuvre une métrique de l'efficacité de l'utilisation de puissance (PUE) de 1,35 dans son infrastructure, ce qui représente une amélioration de 15% par rapport à la ligne de base de 2020.

Année	Capacité électrique (MW)	Métrique pue	Amélioration de l'efficacité énergétique
2020	62.4	1.48	Base de base
2023	73.5	1.35	15%

Les exigences croissantes de la durabilité des entreprises stimulent les investissements technologiques verts

VNET a alloué 42,3 millions de dollars en investissements technologiques verts au cours de 2023, ce qui représente 8,6% du total des dépenses en capital. Les investissements spécifiques comprennent:

• Systèmes de refroidissement avancé: 15,7 millions de dollars
• Infrastructure de serveur économe en énergie: 18,9 millions de dollars
• Systèmes de gestion de l'énergie intelligente: 7,7 millions de dollars

Stratégies de réduction des émissions de carbone pour l'infrastructure du centre de données

Métrique de réduction du carbone	Valeur 2022	Valeur 2023	Pourcentage de réduction
Émissions de CO2 (tonnes métriques)	87,600	72,900	16.8%
Intensité du carbone (kg CO2 / KWH)	0.342	0.276	19.3%

Intégration d'énergie renouvelable dans l'écosystème des services cloud

VNET a atteint 34,6% d'utilisation des énergies renouvelables en 2023, avec une expansion prévue à 47% d'ici 2025. Les sources d'énergie renouvelables actuelles comprennent:

• Énergie solaire: 18,2%
• Énergie éolienne: 12,4%
• Hydroélectrique: 4%

Source d'énergie renouvelable	Contribution de 2023	2025 Contribution prévue
Solaire	18.2%	24.5%
Vent	12.4%	16.8%
Hydro-électrique	4%	5.7%

VNET Group, Inc. (VNET) - PESTLE Analysis: Social factors

You're looking at VNET Group, Inc.'s external landscape, and the social factors are critical because they map directly to customer demand and talent retention. Simply put, society's shift to digital and its focus on corporate responsibility are huge tailwinds for VNET. We're seeing this play out in two main areas: the massive, AI-driven need for data capacity and the rising expectation for strong Environmental, Social, and Governance (ESG) performance.

Here's the quick math: more digital transformation means more data, and more data means more data centers. Plus, investors and customers now care deeply about who they partner with, making VNET's social credentials a competitive advantage.

Surging domestic demand for data centers driven by AI and digital transformation

The domestic appetite for digital infrastructure is insatiable, and it's being turbocharged by the boom in artificial intelligence (AI) and the country's broader digital transformation initiatives. VNET Group is a key beneficiary of this trend, which is why their revised 2025 financial guidance is so strong. They now project total net revenues for 2025 to be between RMB9,150 million and RMB9,350 million, representing a year-over-year growth of 11% to 13%.

This growth isn't just a forecast; it's grounded in operational performance. In Q2 2025, VNET's wholesale capacity in service increased by 17.5% quarter-over-quarter to 674MW. For their mature facilities-the ones that are running smoothly-the utilization rate hit 94.6% in Q2 2025, showing that customer demand is rapidly filling available space. The company is even targeting around 25% per year wholesale capacity growth for the next 10 years, which tells you everything about the long-term AI-driven demand.

Strong focus on customer experience, achieving a 99.63% nationwide customer satisfaction rate in 2024

In a capital-intensive business like data centers, high customer satisfaction is defintely a key indicator of sticky, recurring revenue. VNET Group has a strong focus on operational excellence, which translated into a nationwide customer satisfaction rate of 99.63% in 2024. That's a near-perfect score, and it reflects the quality of their service delivery (uptime, security, and support).

This high level of customer confidence is backed by the company's commitment to global operational standards. They hold key certifications that cover all business lines, which is what gives large enterprise and cloud clients peace of mind. You can't get that kind of satisfaction without a disciplined framework.

• Information Technology Service Management System (ISO/IEC 20000)
• Information Security Management System (ISO/IEC 27001)

Strong Environmental, Social, and Governance (ESG) performance, holding an MSCI 'A' rating for three consecutive years

ESG is no longer a side project; it's a core strategic pillar, and VNET Group is leading in its sector. The company has held an MSCI ESG rating of 'A' for three consecutive years, which is the highest ranking awarded to date in China's Internet Service & Infrastructure industry. This is a huge signal to institutional investors who are increasingly mandated to allocate capital to high-ESG-rated companies.

Their commitment is quantified across multiple rating agencies, proving their framework is robust. This strong performance helps mitigate regulatory risk and attracts partners who prioritize sustainability, like major hyperscalers.

ESG Metric/Rating	2024 Performance/Rating	Context/Significance
MSCI ESG Rating	'A' (3rd consecutive year)	Highest ranking in China's Internet Service & Infrastructure industry.
S&P Global CSA Score	70 (Record High)	Ranked among the top 7% of the global IT Services industry; included in the S&P Global Sustainability Yearbook 2025.
CDP Climate Change Rating	'B'	Exceeds the rating of 94% of participating companies in China.
Renewable Energy Use	360,880 MWh	Fivefold increase year-over-year, accounting for 18% of total resources utilized in 2024.

Increasing female representation, with 33% of management positions held by women in 2024

Diversity and inclusion are vital for innovation and better decision-making, especially in a rapidly evolving technical field. VNET Group has made measurable progress in this area. In 2024, the percentage of female employees in management positions increased to 33%. This is a strong figure, and it aligns closely with the global average for women in senior management positions, which was 33.5% in 2024.

This focus on human capital development is a key part of their ESG strategy, specifically under the 'Human' and 'Development' segments of their 'SHIELD' sustainability system. Attracting and retaining diverse talent is a non-negotiable for future growth, and VNET's numbers show they are making the right investments.

Next Step: Finance and Strategy teams should model the impact of the 94.6% mature facility utilization rate on 2026 CapEx requirements, anticipating continued AI-driven demand.

VNET Group, Inc. (VNET) - PESTLE Analysis: Technological factors

Hyperscale 2.0 strategy targets 10GW of AI infrastructure capacity by 2036

You can't talk about VNET Group, Inc.'s technology without starting with their massive 'Hyperscale 2.0' strategy, which they unveiled in late June 2025. This isn't just a minor upgrade; it's a foundational shift, explicitly targeting the explosive growth in Artificial Intelligence (AI) infrastructure demand. The goal is audacious: to scale their data center assets to a staggering 10GW (gigawatts) of AI-ready capacity by 2036.

For context, this kind of expansion is a direct bet on China's AI infrastructure market, which is projected to grow at a 32.12% Compound Annual Growth Rate (CAGR) through 2030. VNET is positioning itself as a fundamental player in this digital backbone. This strategic pivot is already driving their wholesale business, which saw a 112.5% year-over-year revenue surge in the second quarter of 2025 (Q2 2025), reaching RMB854.1 million. That's a clear signal of where the real money is going.

Deployment of energy-efficient technologies like liquid-cooled servers and 800G optical backbones

The capital intensity of building AI data centers is huge, so VNET is focusing on technology that drives down operating costs and boosts efficiency. The Hyperscale 2.0 framework mandates the deployment of next-generation, energy-efficient technologies. This is about protecting margins and meeting green computing standards.

Specifically, they are integrating liquid-cooled servers, which are far more efficient at dissipating the extreme heat generated by high-performance computing (HPC) and AI workloads. Plus, they are utilizing 800G optical backbones for high-speed data transfer. These innovations are critical because AI model training demands massive computational power, and the resulting efficiency gains are key to maintaining their Q2 2025 Adjusted EBITDA margin of 30.1%. Here's a quick look at their operational efficiency metrics from Q2 2025:

Metric	Q2 2025 Value	Significance
Total Net Revenues (YoY Growth)	22.1%	Strong overall business momentum.
Adjusted EBITDA Margin	30.1%	Operational efficiency despite high CapEx.
Wholesale Capacity in Service	674MW	Physical scale of the data center portfolio.
Mature Facility Utilization Rate	94.6%	Near-full capacity on existing assets.

Use of modular and standardized construction to cut data center deployment time by up to one-third

Agility is the name of the game when hyperscalers are demanding capacity now. VNET's Hyperscale 2.0 strategy relies on modular and standardized construction techniques, which is a game-changer for scalability. Instead of traditional, multi-year build-outs, they pre-fabricate power, cooling, and computing modules in factories.

This approach allows them to reduce construction timelines by up to one-third compared to conventional methods. This is a huge competitive advantage, allowing VNET to rapidly meet surging AI demand and bring new capacity online faster. For example, in Q2 2025, their wholesale capacity in service jumped by 101MW quarter-over-quarter, a direct result of this efficient delivery model.

Carrier- and cloud-neutral infrastructure offers customers flexibility with major hyperscalers like Alibaba Cloud and Tencent Cloud

VNET's core technological strength lies in its carrier- and cloud-neutral infrastructure. This is what makes them indispensable to the largest technology companies. Being 'neutral' means clients aren't locked into a single telecom or cloud provider, giving them maximum network flexibility and choice.

This neutrality is essential for attracting and retaining the biggest players in the market, including major hyperscalers like Alibaba Cloud, Tencent Cloud, and Huawei Cloud. These clients require high-capacity, interconnected, and flexible facilities for their massive AI model training and cloud services. VNET's network port capacity is over 4T+, with more than 50 data centers spread across over 30 Chinese cities, including key hubs like Shanghai and Beijing. This vast, connected footprint is the technological moat that secures their long-term wholesale contracts.

• VNET's infrastructure supports hyperscalers requiring carrier-neutral facilities for AI model training.
• They operate over 50 data centers across more than 30 Chinese cities.
• The network port capacity is over 4T+, enabling high-speed cloud connect.
• Wholesale capacity utilization stood at 75.9% in Q2 2025, reflecting strong customer demand.

VNET Group, Inc. (VNET) - PESTLE Analysis: Legal factors

Strict data localization laws (Cybersecurity Law) mandate that Chinese data must be stored domestically.

The core legal challenge for VNET Group, Inc. is the tightening grip of China's data sovereignty laws, particularly the Cybersecurity Law (CSL) and its related regulations. As a data center operator, VNET is classified as a network operator and likely a Critical Information Infrastructure (CII) operator, which triggers the most stringent compliance rules. The CSL mandates that all personal information and other key data collected or generated within mainland China must be stored on servers located inside the country.

This data localization requirement directly impacts VNET's multinational clients who rely on cross-border data transfers (CBDT). The October 2025 amendments to the CSL, taking effect on January 1, 2026, further strengthen oversight and increase penalties for violations related to data handling and CBDT. For VNET, this means an increased need to ensure its infrastructure and operational protocols meet these evolving, high-security standards, or its clients could face fines up to RMB10 million (approximately US$1.4 million) for serious CSL violations. That's a massive financial risk for customers, so they demand absolute compliance from VNET.

Regulatory easing in early 2025 allowed for full foreign ownership in Free Trade Zones, increasing competition.

In a significant but double-edged regulatory move, the Ministry of Industry and Information Technology (MIIT) introduced a pilot scheme in early 2025 that fully liberalized foreign investment in Value-Added Telecom Services (VATS), including Internet Data Center (IDC) services, within four designated Free Trade Zones (FTZs): Beijing, Shanghai, Shenzhen, and Hainan. Previously, foreign ownership in this sector was capped at 50%.

This easing means multinational tech giants can now establish wholly foreign-owned enterprises to build and operate their own data centers in these lucrative regions. This is defintely a competitive threat to VNET's wholesale and retail IDC business.

Here's the quick math on the competitive shift:

Regulatory Change	Pre-2025 Status (IDC/VATS)	Post-Early 2025 Status (Pilot FTZs)
Foreign Ownership Cap	50% (Joint Venture Required)	100% (Wholly Foreign-Owned Enterprise Allowed)
VNET's Impact	Competitive advantage via local expertise and licensing	Increased competition from global hyperscalers
Pilot Regions	N/A	Beijing, Shanghai, Shenzhen, Hainan

VNET must now compete directly against global players who can control their entire data center operation, from design to compliance, without a local partner.

Compliance with US SEC reporting requirements as a NASDAQ-listed company, alongside PRC legal system uncertainties.

As a company listed on the NASDAQ, VNET is legally required to adhere to the rigorous reporting and disclosure standards of the U.S. Securities and Exchange Commission (SEC). This includes timely filing of forms like the 6-K and 20-F, which VNET has continued to do throughout 2025.

Still, the company operates under the continuous geopolitical and regulatory uncertainty of being a Chinese company listed in the U.S. The shadow of the Holding Foreign Companies Accountable Act (HFCAA) remains, which could lead to delisting if the Public Company Accounting Oversight Board (PCAOB) cannot inspect the audit work papers for three consecutive years. While VNET has taken steps to comply, the risk of being placed on the SEC's conclusive list of non-compliant issuers is a persistent investor concern.

The tension between the PRC legal system and U.S. regulators creates a complex compliance environment.

Adherence to the Green Electricity Certificate (GEC) system for verifiable renewable energy sourcing.

The push for green data centers has translated into concrete legal requirements, centered on China's Green Electricity Certificate (GEC) system. As of March 31, 2025, the GEC became the country's sole legal proof for verifiable renewable energy consumption, replacing international certificates like I-RECs.

New policy guidelines released in March 2025 explicitly mandate that newly built national hub data centers must source at least 80% of their electricity from renewable energy by 2030. This is a massive compliance target for VNET.

The GEC market is now the primary mechanism for VNET to prove its green credentials and meet these targets, especially for large-scale wholesale clients.

• GEC Cumulative Issuance (as of March 2025): Exceeded 5.617 billion certificates.
• New Data Center Renewable Target: 80% renewable energy by 2030 for national hub facilities.
• Compliance Action: VNET must actively procure GECs or secure Power Purchase Agreements (PPAs) that enable GEC issuance.

This new GEC mandate is a clear regulatory signal; if VNET doesn't hit its Power Usage Effectiveness (PUE) and renewable energy targets, it will face a compliance headache that could restrict its future capacity expansion.

VNET Group, Inc. (VNET) - PESTLE Analysis: Environmental factors

You are a data center operator in China, so managing energy consumption and carbon footprint isn't just good public relations; it's a core strategic and financial imperative. The government's aggressive green mandates mean that efficiency and renewable energy adoption directly impact your license to grow. Your performance in 2024 shows VNET Group is well-positioned, but the regulatory bar is rising fast.

Energy Efficiency and PUE Performance

VNET Group's operational efficiency is a clear competitive advantage in the Chinese market. Power Usage Effectiveness (PUE) is the key metric here, measuring total facility energy divided by IT equipment energy-lower is better. In 2024, the average annual PUE for VNET's stabilized data centers was an impressive 1.27.

Here's the quick math: VNET's 1.27 PUE is already significantly better than the national goal. China's Special Action Plan for Green and Low-carbon Development of Data Centers requires the national average PUE to drop below 1.5 by the end of 2025. Furthermore, the government's Green Data Center standard for procurement sets an even stricter PUE requirement of less than 1.3 from 2025 onward. You are already meeting the stricter standard, which is defintely a strong signal to potential government and enterprise clients.

Metric	VNET Group 2024 Performance	China National Target (2025)	China Procurement Standard (2025)
Average Annual PUE (Stabilized DCs)	1.27	< 1.5	< 1.3
GHG Emissions (Scope 1 & 2) YoY Change	Decreased by 2%	N/A	N/A
Emission Intensity YoY Change	Decreased by 9%	N/A	N/A

Renewable Energy Adoption and Decarbonization

The push for renewable energy is the biggest near-term opportunity and risk. Your 2024 performance shows a massive step forward: total energy from renewable sources reached 360,880 MWh, accounting for 18% of your total resources. That's a fivefold year-over-year increase, showing serious commitment.

But still, the regulatory pressure is intensifying. While the general action plan aims to increase renewable energy utilization by 10% annually by 2025, the specific government procurement standards for data centers are much more demanding. You need to map your procurement strategy to these escalating targets to remain competitive in the long run.

• 2025 Renewable Energy Target: 30% of total energy consumption.
• 2027 Renewable Energy Target: 50% of total energy consumption.
• 2030 Renewable Energy Target: 75% of total energy consumption.

The 18% renewable energy usage in 2024 is good, but you need to nearly double that to hit the 2025 government procurement standard of 30%. That's your clear, immediate action item.

Ulanqab Integrated Renewable Project

Your integrated source-grid-load-storage project in the Ulanqab IDC Campus is a concrete example of how you are tackling the renewable energy challenge head-on. This is a smart move, securing a dedicated, green energy source in a national hub region. The project, which was approved in October 2024, is a large-scale development featuring three key components:

• Wind Power Generation: 200MW
• Solar Power Generation: 100MW
• Energy Storage Facility: 45MW

This project is designed to help meet the growing demand for green computing power in the national hub regions, where new capacity is expected to account for more than 60% of the national total by the end of 2025. Securing this kind of self-sufficiency in renewable power generation is a huge differentiator that will help you manage energy costs and regulatory compliance for years to come.