BEIJING, Nov. 28, 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 the Company has executed a definitive agreement (the “Agreement”) with Dajia Investment Holding Company Ltd. (“Dajia”), a wholly owned subsidiary of Dajia Insurance Group under which both parties will jointly form a pre-REITs fund (the “Fund”) to invest in hyperscale data centers in mainland China. This initiative marks a significant milestone for China’s data center sector, reflecting the growing trend among domestic institutional investors to channel investments into new infrastructure projects in mainland China.

Pursuant to the Agreement, the underlying assets (the “Assets”) for the Fund’s initial investment are the first and second phases of VNET’s Taicang IDC Campus, which currently has a total IT capacity of approximately 210MW and an estimated value of RMB5.74 billion, reflecting an implied post-closing valuation of approximately 10.1x EV/EBITDA. VNET will retain a 51% equity interest in the Assets through the Fund, while Dajia will acquire and hold the remaining 49% interest. VNET will consolidate the financial results of the Fund and its underlying assets into VNET’s financial statements for financial reporting purposes and will continue to operate the Assets to ensure stable, premium IDC services for its customers.

Josh Sheng Chen, Founder, Executive Chairperson and interim Chief Executive Officer of VNET, commented, “We are thrilled to announce this transaction. It demonstrates our prowess in effectively managing capital and asset operating cycles, bolstering our capital sources with long-term investors while further enhancing our balance sheet efficiency. We will continue to pursue innovative financing structures and explore exits for our existing premium data centers, building a healthy, sustainable capital and asset cycle that propels our long-term growth while contributing to China’s high quality digital economy development.”

About VNET

VNET Group, Inc. is a leading carrier- and cloud-neutral internet data center services provider in China. VNET provides hosting and related services, including IDC services, cloud services, and business VPN services to improve the reliability, security, and speed of its customers’ internet infrastructure. Customers may locate their servers and equipment in VNET’s data centers and connect to China’s internet backbone. VNET operates in more than 30 cities throughout China, servicing a diversified and loyal base of over 7,000 hosting and related enterprise customers that span numerous industries ranging from internet companies to government entities and blue-chip enterprises to small- to mid-sized enterprises.

About Dajia Investment Holding Company Ltd.

Dajia Investment Holding Company Ltd. is an alternative asset investment management company wholly owned by Dajia Insurance Group. It invests in high-quality assets with growth potential across China, focusing on sectors such as clean energies, modern logistics, data centers, industrial parks, rental housing, and retail infrastructures.

Safe Harbor Statement 

This announcement contains forward-looking statements. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “target,” “believes,” “estimates” and similar statements. Among other things, quotations from management in this announcement as well as VNET’s strategic and operational plans, including the plan to operate the Assets under the pre-REITs project, contain forward-looking statements. VNET may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about VNET’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: VNET’s goals and strategies; VNET’s liquidity conditions; VNET’s expansion plans; the expected growth of the data center services market; expectations regarding demand for, and market acceptance of, VNET’s services; VNET’s expectations regarding keeping and strengthening its relationships with customers; VNET’s plans to invest in research and development to enhance its solution and service offerings; and general economic and business conditions in the regions where VNET provides solutions and services. Further information regarding these and other risks is included in VNET’s reports filed with, or furnished to, the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and VNET undertakes no duty to update such information, except as required under applicable law.

Investor Relations Contact:

Xinyuan Liu
Tel: +86 10 8456 2121
Email: ir@vnet.com

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SOURCE VNET Group, Inc.

HONG KONG and SHANGHAI, Nov. 28, 2024 /PRNewswire/ — Ping An Insurance (Group) Company of China, Ltd. (hereafter “Ping An” or the “Group”, HKEX: 2318/82318, SSE: 601318) received the Director of the Year Award and the Climate Governance Award for 2024 from the Hong Kong Institute of Directors (HKIoD) on November 28. This marks the sixth time Ping An’s Board of Directors has received the Director of the Year Award. Ping An is also the first recipient of the inaugural Climate Governance Award.

Since its establishment in 1988, Ping An has become one of the largest integrated financial, healthcare and senior care service providers in Mainland China. Ping An was nominated for the HKIoD awards for its diversified board of directors, dedicated to safeguarding the interests of the Company and all shareholders and promoting the Company’s long-term, stable development.

Mr. Ng Sing Yip, Independent Non-executive Director, accepted the awards on behalf of Ping An’s board. He said, “Ping An’s success as a world-leading integrated financial, healthcare and senior care service provider is closely linked to its high standards of corporate governance and the trust of our stakeholders.” The awards were also attended by Ms. Cai Fangfang, Executive Director and Senior Vice President, Ms. Cai Xun, Non-executive Director, Mr. Ng Kong Ping Albert, Independent Non-executive Director, Mr. Liew Fui Kiang, Independent Supervisor, and Mr. Hung Ka Hai Clement, Independent Supervisor, as representatives of the board and the Supervisory Committee.

Ping An’s Board of Directors will continue to lead the Company’s strategic planning, and participate in risk management, financial control, compliance, and internal control. The board will continue to enhance corporate governance and climate risk management capabilities, and grow value for stakeholders.

Ping An has long pursued a balanced and professional board structure. Ping An’s 15 directors possess professional expertise in insurance, banking, investment, accounting, law, management, and technology, with extensive industry and operational experience. Ping An has six independent non-executive directors, who account for 40% of the Board, exceeding the industry average. In 2023, the board completed 26 training sessions covering corporate governance, environmental and climate impact, and sustainable development. Since the Company’s listing, the board has conducted on-site inspections and reviews at grassroots level for 20 years, collecting opinions and suggestions from frontline employees and urging business units to continuously improve operational management.

Ping An’s Board of Directors focuses on providing foresight and guidance of the Company’s strategy for efficient implementation and high-quality business development. Under the leadership of the board, Ping An is promoting its “integrated finance + healthcare and senior care” strategy driven by technology. In the first three quarters of 2024, the Group’s operating profit attributable to shareholders of the parent company reached RMB113.82 billion, representing a year-on-year increase of 5.5%, and revenue reached RMB775.38 billion, a year-on-year increase of 10.0%. Three core businesses – life and health insurance, property and casualty insurance and banking – maintained growth, with their combined operating profit attributable to shareholders of the parent company reaching RMB119.65 billion, a year-on-year increase of 5.7%.

Ping An continues to strengthen integrated finance, shifting from cross-selling to comprehensive customer management. As of September 30, 2024, the Group had 240 million retail customers, a year-to-date increase of 3.8%. Customer retention continued to improve, with 25.1% of customers holding four or more contracts within the Group, and a retention rate of 98.0%. The healthcare and senior care strategy continued to yield results, with the value of Ping An’s differential advantages becoming more apparent. In the first three quarters of 2024, more than 19.5 million Ping An Life insurance customers used services in the healthcare and senior care ecosystem. Ping An’s innovative integrated “medical care, nursing, housing, and entertainment” model has established industry standards and ecosystems for senior care services. The services cover 75 cities across China, with more than 150,000 customers entitled to home-based senior care services.

Ping An’s Board of Directors oversees environmental, social and corporate governance (ESG) matters. It has built an efficient and collaborative long-term ESG governance mechanism, and promotes core practices such as climate governance and rural revitalization. Ping An pledges to achieve carbon neutrality across its operations by 2030, and has formulated short- and medium-term targets and roadmaps. In 2023, Ping An took the lead in launching China’s insurance industry’s first carbon account system covering all employees, recording each employee’s low-carbon office behavior, daily low-carbon behavior, and carbon emission data to support climate governance. Ping An also promotes green finance. In the first three quarters of 2024, Ping An’s green insurance premium income reached RMB37.34 billion.

Thanks to its outstanding performance in sustainable development, Ping An has received the highest ratings in multiple industry evaluations. Ping An has maintained an A rating in MSCI ESG Ratings for two consecutive years, ranking first in the multi-line insurance and brokerage industry in the Asia-Pacific region. It has been in S&P’s Sustainability Yearbook (China Edition) for two consecutive years, the only insurance company from Mainland China on the list. Ping An also has a “low risk” rating with a score of 17.0 in Morningstar Sustainalytics ESG Ratings and a B rating in CDP (Carbon Disclosure Project) Ratings, the highest ratings in China’s financial industry.

The HKIoD is Hong Kong’s premier organization representing professional directors, with more than 2,000 members from senior management of Hong Kong-based companies and listed companies worldwide. Its Director of the Year Awards evaluate companies’ performance in promoting development strategies, business strategies, and digital transformation at the board level. The Climate Governance Award, a newly launched award series in 2024, evaluates the performance of corporate boards in promoting sustainable development, climate governance and related information disclosure. The 2024 awards were co-organized by the Financial Services and the Treasury Bureau, the Securities and Futures Commission, and Hong Kong Exchanges and Clearing Limited.

Ping An will continue to adhere to responsible, high-standard corporate governance. Under the scientific and forward-looking guidance of the Board of Directors, Ping An will continue to deepen the “integrated finance + healthcare and senior care” strategy driven by technology, consolidate the advantages of integrated finance, promote its healthcare and senior care initiatives, advance digital transformation and pursue high-quality development. It is committed to creating greater value through stable growth for customers, employees, shareholders, and society.

About Ping An Group

Ping An Insurance (Group) Company of China, Ltd. (HKEx:2318 / 82318; SSE:601318) is one of the largest financial services companies in the world. It strives to become a world-leading provider of integrated finance, health and senior care services, Under the technology-driven “integrated finance + health and senior care” strategy, the Group provides professional “financial advisory, family doctor, and senior care concierge” services to its 240 million retail customers. Ping An advances intelligent digital transformation and employs technologies to improve financial businesses’ quality and efficiency and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of September 2024, Ping An had more than RMB12 trillion in total assets. The Group ranked 29th in the Forbes Global 2000 list in 2024 and 53rd in the Fortune Global 500 list in 2024. 

For more information, please visit www.group.pingan.com and follow us on LinkedIn – PING AN.

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SOURCE Ping An Insurance (Group) Company of China, Ltd.

HONG KONG, Nov. 29, 2024 /PRNewswire/ — Tencent was recognized as a Major Player in the IDC MarketScape: Worldwide Edge Delivery Services 2024 Vendor Assessment (doc #US51812424, November 2024) report. Tencent Cloud, as a representative vendor, has made a strategic move with its integrated edge platform, EdgeOne, positioning itself to capitalize on opportunities presented by edge services.

Strategy- and technology-driven, a truly one-stop edge cloud security and acceleration platform

Tencent Cloud’s globally launched EdgeOne solution is a truly one-stop cloud security and acceleration platform. It continuously refines its advantages in edge acceleration and edge security capabilities, catering to the needs of developer communities, media, and other industries, thereby driving digital transformation and rapid business growth across various sectors.

Specifically, in terms of edge acceleration, EdgeOne optimizes HTTP/HTTPS, TCP/UDP network transmissions, and combines dynamic and static content to provide efficient acceleration services for a diverse range of business content in a simple and streamlined manner.

On edge security, EdgeOne offers comprehensive security protection capabilities such as DDoS/WAF/Bot/rate limiting through a distributed architecture, further democratizing security capabilities and providing users with normalized protection.

The report notes, “Tencent Cloud supports flexible pricing that includes free access for developers and basic, advanced, and custom models for enterprise customers.” To encourage more developers to participate, collaborate, and improve edge applications, EdgeOne has created the OpenEdge, an open co-creation technology platform for developers to build the next generation of edge AI Serverless applications. Additionally, in September of this year, the platform launched the “Pages” feature designed for modern web development, assisting developers in rapidly building and deploying static sites and serverless applications.

Furthermore, EdgeOne is actively integrating AI technology to develop AI@Edge capabilities. It supports enterprises in deploying computing resources at the edge, offer runtime environments for LLM training and inference, and enables AI applications for video and image generation and processing, as well as for AI-generated content storage and caching.

Top choice for enterprise global business development, with comprehensive industry services for gaming, e-commerce, media, etc.

While continuously refining its technology, EdgeOne is also actively implementing solutions across various industries. The report indicates that Tencent possesses extensive expertise in e-commerce, media, and gaming, with these market segments poised for good growth in the foreseeable future. At present, EdgeOne has already served top clients and typical scenarios in various industries globally, including gaming, e-commerce, media, and finance.

In the gaming sector, EdgeOne’s global nodes, combined with innovative architecture, have accelerated game server access by over 30%, improved download speeds for game developers by an average of 50%, and increased first-day user activity by 20%. Currently, EdgeOne has served over 500 gaming clients globally, providing services for Tencent’s self-developed strategic games like Honor of Kings international edition. Additionally, EdgeOne supports global operations for companies such as Kuro Games’s “Wuthering Waves” and BluePoch’s “Reverse 1999”, ensuring both security and performance.

In e-commerce, leveraging its highly scalable architecture and edge computing capabilities, EdgeOne can meet the customized configuration needs of cross-border e-commerce clients, supporting agile business iterations. Its integrated architecture of one-stop security acceleration ensures smooth website access, sustains high traffic volumes during major promotions, and provides comprehensive security protection, preventing fraudulent activities and malicious attacks.

Through Tencent’s deep expertise in the media sector, especially its networking and audio-video technologies accumulated over more than 20 years, EdgeOne further extends media capabilities to edge nodes and has launched the “Edge Media” section. It offers one-click configuration for audio-video on-demand scenarios, enhancing playback experiences through capabilities such as video preloading and chunk optimization. Additionally, it provides real-time transcoding, encryption, screenshot capabilities, enabling instant access to media processing results, reducing transcoding and storage costs, and enhancing efficiency for multimedia businesses.

The report noted Tencent’s strength as a growing global footprint beyond its domestic market. We believe EdgeOne has become one of the top choices for global business scenarios going overseas, and also a preferred option for international companies entering the Chinese market. In the international market, EdgeOne is highly recognized by customers, achieving deep coverage in Northeast Asia gaming markets with a coverage rate of 80% among the top 10 revenue-generating gaming companies in South Korea.

In addition to its rich industry experience, since its launch, EdgeOne’s technological and product capabilities have been highly recognized across various sectors. It has been selected as a representative vendor in Gartner’s “Market Guide for DDoS Mitigation Solutions”, “Market Guide for Cloud Web Application and API Protection”, and “Market Guide for Edge Distribution Platforms”. According to Omdia’s “DDoS Prevention Technology Market Tracker”, Tencent Cloud EdgeOne holds the top market share for DDoS solutions in the Asia-Pacific region.  In the evaluation of edge computing functions conducted by the China Academy of Information and Communications Technology (CAICT), EdgeOne has demonstrated superior performance compared to its competitors. Moreover, Tencent Cloud with its EdgeOne is the only vendor that fully meets the standards set by CAICT in terms of edge security acceleration capabilities, making EdgeOne the pioneering case study of CAICT’s edge computing. In collaboration with CAICT, Tencent Cloud has also fully engaged in the standard development process by jointly publishing a white paper on the Edge Serverless domain.

In the future, Tencent Cloud’s EdgeOne will continue to promote technological innovation and product optimization to meet the significant acceleration demand and security challenges faced by enterprises in the process of digital transformation in the global market. It aims to drive business innovation and enterprise development to a higher level in various industries.

Note:
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of technology and suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier’s position within a given market. The Capabilities score measures supplier product, go-to-market and business execution in the short-term. The Strategy score measures alignment of supplier strategies with customer requirements in a 3-5-year timeframe. Supplier market share is represented by the size of the icons.

About IDC MarketScape:

IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of technology suppliers can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective suppliers.

About Tencent Cloud

Tencent Cloud, one of the world’s leading cloud companies, is committed to creating innovative solutions to resolve real-world issues and enabling digital transformation for smart industries. Through our extensive global infrastructure, Tencent Cloud provides businesses across the globe with stable and secure industry-leading cloud products and services, leveraging technological advancements such as cloud computing, Big Data analytics, AI, IoT and network security. It is our constant mission to meet the needs of industries across the board, including the fields of gaming, media and entertainment, finance, healthcare, property, retail, travel and transportation.

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SOURCE Tencent Cloud