VNET Group Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	7,772	5,524	1,492	2,244	2,661	1,372
Short-Term Investments	718.21	379.2	-	356.82	-	-
Cash & Short-Term Investments	8,490	5,903	1,492	2,600	2,661	1,372
Cash Growth	113.78%	295.51%	-42.61%	-2.29%	93.91%	-54.19%
Accounts Receivable	2,683	2,222	1,656	1,716	1,764	1,406
Other Receivables	430.14	429.41	336.36	277.24	152.09	167.97
Total Trade Receivables	3,113	2,652	1,992	1,993	1,916	1,574
Other Current Assets	2,887	2,898	3,335	5,230	2,475	2,378
Total Current Assets	14,490	11,452	6,820	9,823	7,052	5,324
Net Property, Plant & Equipment	29,242	27,647	21,835	17,037	15,468	12,962
Other Intangible Assets	2,856	2,872	2,170	1,986	2,073	1,238
Goodwill	-	-	-	-	1,364	1,340
Long-Term Investments	1,025	1,063	794.69	757.95	242.19	98.24
Other Long-Term Assets	1,503	1,560	737.36	781.85	748.17	2,134
Total Assets	49,117	44,594	32,357	30,386	26,948	23,095
Accounts Payable	1,239	1,158	1,065	1,052	720.56	502.28
Accrued Expenses	5,596	5,614	3,688	2,818	2,453	2,342
Short-Term Debt	2,560	1,173	589	4,239	537.78	-
Current Portion of Long-Term Debt	2,617	2,059	1,420	723.33	484.02	384.16
Current Portion of Leases	1,327	1,320	1,108	895.97	880.55	852.03
Unearned Revenue	1,266	1,073	1,467	1,701	1,253	1,098
Other Current Liabilities	50.33	51.06	6.73	8.06	3.65	2.07
Total Current Liabilities	14,656	12,447	9,343	11,437	6,332	5,180
Long-Term Debt	17,766	16,718	9,665	6,883	8,909	6,482
Long-Term Leases	5,500	5,645	5,312	4,430	3,953	3,404
Other Long-Term Liabilities	1,201	1,219	1,116	1,121	772.43	428.27
Total Long-Term Liabilities	24,468	23,583	16,093	12,434	13,635	10,314
Total Liabilities	39,123	36,030	25,436	23,872	19,967	15,494
Common Stock	0.12	0.11	0.11	0.11	0.06	0.06
Treasury Stock	-179.09	-179.09	-161.89	-326.95	-349.52	-349.52
Additional Paid-in Capital	17,603	17,360	17,299	17,291	15,240	15,198
Accumulated Other Comprehensive Income	47.19	46.38	-18.5	-14.34	11.02	-90.44
Retained Earnings	-13,239	-11,009	-10,753	-10,936	-8,292	-7,516
Total Common Shareholders' Equity	4,232	6,218	6,366	6,014	6,610	7,242
Minority Interest	5,761	2,346	554.92	499.97	372.24	358.77
Shareholders' Equity	9,993	8,564	6,921	6,514	6,982	7,601
Total Liabilities & Equity	49,117	44,594	32,357	30,386	26,948	23,095
Total Debt	29,770	26,915	18,094	17,172	14,764	11,122
Net Cash (Debt)	-21,280	-21,012	-16,602	-14,571	-12,103	-9,749
Net Cash Per Share	-77.01	-78.20	-57.17	-97.02	-81.89	-64.17
Book Value	4,232	6,218	6,366	6,014	6,610	7,242
Book Value Per Share	15.32	23.14	21.92	40.05	44.72	47.67
Tangible Book Value	1,376	3,346	4,196	4,029	3,172	4,665
Tangible Book Value Per Share	4.98	12.45	14.45	26.82	21.46	30.70

SEC Filings: 10-K · 10-Q