BEIJING, July 11, 2024 /PRNewswire/ — VNET Staff, Inc. (Nasdaq: VNET) (“VNET” or the “Company”), a prominent carrier- and cloud-neutral web knowledge heart products and services supplier in China, these days introduced that the particular committee of the Corporate’s board of administrators (the “Special Committee”) gained a letter dated July 10, 2024 from Mr. Josh Sheng Chen (“Mr. Chen”), Founder, Co-Chairperson and meantime Important Govt Officer of VNET, mentioning that Mr. Chen had motivated to not walk together with his initial non-binding proposal dated September 13, 2022 to procure the entire remarkable usual stocks of the Corporate (the “Founder Proposal”) and the Founder Proposal used to be withdrawn with speedy impact.
In sunny of Mr. Chen’s withdrawal of the Founder Proposal and the deficit of substantive journey relating to any alternative attainable going-private or alike transaction of the Corporate (together with with recognize to the unsolicited initial non-binding proposal gained from the Hina Staff and Commercial Warehouse Co., Ltd., Shanghai Section in April 2022 to procure all remarkable stocks of the Corporate), the Particular Committee has made up our minds to stop any longer analysis of any attainable transaction at this day and advisable that the board of administrators dissolve the Particular Committee. The board of administrators authorized to dissolve the Particular Committee accordingly.
Mr. Chen commented, “I withdrew my privatization proposal as I believe that maintaining VNET’s listing status is better aligned with the Company’s long-term interests given current market conditions. I remain confident in VNET’s growth potential and will continue to devote myself to its high-quality, sustainable development. Looking ahead, guided by our entrepreneurial mission for the next 25 years to bring green direct-current electricity from AIDC to millions of households, VNET will continue to leverage its core strengths to capture AI-driven demand, drive industry-wide progress and upgrades in the AGI era, and inject new vitality into China’s digital economy.”
Mr. Jianbiao Zhu, Important Govt Officer of Shandong Hello-Pace Holdings Staff Restricted (“SDHG”) and Co-Chairperson of VNET, stated, “We are optimistic about VNET’s future as a listed company and will continue to strengthen our cooperation for mutual success. We are pleased to contribute SDHG’s green energy resources to accelerate VNET’s green, low-carbon transformation for its IDC business. Together, we are building an AI-powered, green infrastructure platform that will comprehensively cover high-performance computing scenarios such as large language model training, bolstering VNET’s leading position in China’s IDC industry.”
About VNET
VNET Staff, Inc. is a prominent carrier- and cloud-neutral web knowledge heart products and services supplier in China. VNET supplies web hosting and similar products and services, together with IDC products and services, cloud products and services, and trade VPN products and services to strengthen the reliability, safety, and velocity of its consumers’ web infrastructure. Consumers would possibly find their servers and kit in VNET’s knowledge facilities and tie to China’s web spine. VNET operates in additional than 30 towns all through China, servicing a various and dependable bottom of over 7,500 web hosting and similar undertaking consumers that span various industries starting from web firms to govt entities and blue-chip enterprises to small- to mid-sized enterprises.
Defend Harbor Remark
This announcement accommodates forward-looking statements. Those forward-looking statements are made beneath the “safe harbor” provisions of the U.S. Personal Securities Litigation Reform Work of 1995. Those statements will also be known by way of terminology comparable to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “target,” “believes,” “estimates” and alike statements. Amongst alternative issues, quotations from control on this announcement in addition to VNET’s strategic and operational plans comprise forward-looking statements. VNET may additionally create written or oral forward-looking statements in its stories filed with, or furnished to, the U.S. Securities and Trade Fee, in its annual stories to shareholders, in press releases and alternative written fabrics and in oral statements made by way of its officials, administrators or staff to 3rd events. Statements that don’t seem to be ancient details, together with statements about ideals and expectancies at the day efficiency of VNET, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. Plenty of components may just motive fresh effects to fluctuate materially from the ones contained in any forward-looking commentary, together with however now not restricted to please see: VNET’s targets and techniques; VNET’s liquidity statuses; VNET’s enlargement plans; the anticipated expansion of the knowledge heart products and services marketplace; expectancies relating to call for for, and marketplace acceptance of, VNET’s products and services; VNET’s expectancies relating to maintaining and wholesome its relationships with consumers; VNET’s plans to spend money on analysis and building to beef up its resolution and repair choices; and normal financial and trade statuses within the areas the place VNET supplies answers and products and services. Additional knowledge relating to those and alternative dangers is incorporated in VNET’s stories filed with, or furnished to, the U.S. Securities and Trade Fee. All knowledge supplied on this press leave is as of the pace of this press leave, and VNET undertakes incorrect responsibility to replace such knowledge, with the exception of as required beneath appropriate regulation.
Investor Family members Touch:
Xinyuan Liu
Tel: +86 10 8456 2121
E-mail: [email protected]
SOURCE VNET Staff, Inc.
