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aid press release. Contact distributor for inquiries. /PRNewswire/ – VNET Group, Inc. (Nasdaq: VNET), a leading carrier‑ and cloud‑neutral IDC provider in China, announced the issuance of a holding‑type real‑estate green asset‑backed security via its new private REIT, the first of its kind in the IDC sector. The Private REIT Project will be listed on the Shanghai Stock Exchange as a standardized security. This structure lets VNET refresh its IDC portfolio, recycle capital for expansion and other corporate purposes, reduce leverage, and improve its capital structure. Under the project, VNET will transfer 100 % equity of one existing retail IDC project to the private REIT. Domestic institutional investors, including China Pacific Insurance (Group) Co., Ltd. (CPIC), will subscribe 93 % of the REIT, while VNET will hold 7 %. The offering totals about RMB 860 million, with equity consideration near RMB 800 million, implying a valuation of roughly 13× EV/EBITDA. After the transaction, VNET will act as issuer, originator, and operator, ensuring the IDC’s long‑term health. The REIT received a G‑1 rating from a reputable third‑party evaluator, the highest possible score, confirming the strong environmental impact of its proceeds. “We’re proud to pioneer holding‑type green asset‑backed securities in China’s IDC industry,” said Josh Sheng Chen, Founder, Executive Chairperson and interim CEO of VNET. “This breakthrough in green finance and securitization sets new standards for sustainable IDC development. With CPIC and other institutional investors’ support, we aim to drive industry progress in the AI era and pursue further capital recycling projects for lasting stakeholder value.”