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VNET and Dajia Investment Ink Definitive Agreement on a Pre-REITs Fund

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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.

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India’s International AVGC XR festival gets bigger with AVAF joining hands with SAIK and Toonz Media Group

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November 29, 2024

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AniMela, an initiative of the Aniverse & Visual Arts Foundation (AVAF), partners with Animation Masters Summit to bring the industry’s top talent to Thiruvananthapuram

THIRUVANANTHAPURAM, India, Nov. 29, 2024 /PRNewswire/ — In an exciting development for India’s thriving animation, visual effects, gaming, comics, and XR (Extended Reality) industries, the Society of AVGC-XR institutions in Kerala (SAIK) has collaborated with AniMela and Animation Masters Summit (AMS) to host the International AVGC XR Festival in Kerala. Scheduled for March 6–9, 2025, the AniMela-AMS Festival 2025 will merge the highlights of these two renowned events, offering a unique and unparalleled experience for professionals and enthusiasts in the sector.

The International AVGC XR Festival will take place in Thiruvananthapuram and feature a strategic partnership with the Annecy International Film Festival, France, one of the world’s leading animation festivals. This collaboration will bring some of the biggest names in animation, VFX, and immersive media to Kerala, offering a unique opportunity for international talent to engage with India’s vibrant animation community.

AniMela, which has been conducted annually by Aniverse and Visual Arts Foundation (AVAF), has become a significant event for the Indian animation and gaming community, since its launch 2 years back. Animation Masters Summit (AMS), which has been held every year since 1999 by Toonz Media Group, is one of the most prestigious platforms for animation professionals, attracting top talent from across the globe. This collaboration will create a comprehensive festival experience that will offer global insights, innovation, and collaboration opportunities for India’s burgeoning creative sector.

P Jayakumar, CEO Toonz Media Group and President of SAIK, said, “This collaboration with AniMela, Animation Masters Summit, and Annecy represents a momentous step forward for the AVGC and XR sectors in India. By joining forces, we aim to create an event that not only highlights the latest developments in animation and immersive media but also provides a unique space for professionals and students to engage with world-class content and technologies. The involvement of Annecy further strengthens the festival’s position as a global platform for creativity and collaboration.”

Mickael Marin, Festival Director, Annecy Festival, shared his enthusiasm, “Annecy is proud to support the second edition of this ambitious festival, marking a new chapter with its move to Thiruvananthapuram. This partnership reflects our commitment to connecting the global animation community with the talents and the animation film industry in India. We warmly thank the AniMela team and all the partners who have made this project possible.” 

The Society of AVGC Institutes in Kerala (SAIK) is actively involved in organizing the festival, ensuring the presence of key policymakers and industry leaders. The three-day festival is expected to draw around 8,000 attendees, offering a comprehensive program that includes knowledge centers, experiential zones, film screenings, and extensive professional networking opportunities. The event will provide valuable exposure to international content, while offering students and animators the chance to explore emerging technologies and trends.

“India’s AVGC-XR never stops surprising us with its incredible wave of young talent. It is a great honour to team up with the Animation Master Summit and SAIK to offer them opportunities like the International MIFA Campus and the global stage they deserve. We are thrilled to be in Kerala, the land of art and inspiration, where we aim to make AniMela-AMS a true destination festival that celebrates the future of our industry,” said Anne Doshi, Artistic Director, AniMela.

The AniMela AMS Festival 2025 promises to be a landmark event that will set the stage for the future of the AVGC and XR industries in India, as well as strengthen Kerala’s position as a hub for creative innovation.

About Toonz Media Group

Toonz is a 360-degree media powerhouse, with over two decades of unparalleled experience and one of the world’s most active animation production studios (over 10,000 minutes of 2D and CGI kids and family content per year). Toonz has to its credit several animations and live-action series, as well as feature films, including Wolverine and the X-Men with Marvel, Speed Racer: The Next Generation with Lionsgate, Mostly Ghostly with Universal, Gummy Bear and Friends, and more. Toonz has also ventured into emerging technologies like AR, VR, and Gaming.
https://toonz.co/

About AVAF

The Aniverse and Visual Arts Foundation (AVAF) is a not-for-profit organization dedicated to fostering creativity, innovation, and cultural dialogue within the global Animation, Visual Graphics, and Extended Reality (AVGC-XR) industries. AVAF serves as a catalyst for India’s creative renaissance by creating platforms for emerging talent, offering mentorship, and facilitating collaborations with industry stakeholders, such as producers, financiers, broadcasters, and gaming companies. Through transformative events like AniMela, AVAF aims to position India as a world leader in AVGC-XR, showcasing the country’s artistic excellence and establishing it as a hub for cutting-edge content creation and global talent exchange.

About SAIK

Society of AVGC-XR Institutions in Kerala (SAIK) is a pioneering organisation committed to the advancement and development of the animation, visual effects, gaming, comics, and extended reality (AVGC-XR) sectors in Kerala, India. Established under the Travancore-Cochin Literary, Scientific, and Charitable Societies Act of 1955 as a Not-for-Profit Organisation, SAIK is a business collective of small, medium, and big sized studios engaged in AVGC-XR across Kerala.

The objective of the SAIK is to be a one-stop-shop for all information and needs related to AVGC-XR sector of Kerala State, and to make Kerala an AVGC-XR powerhouse in India and to promote Kerala as an important hub-destination on the global map.

 

View original content:https://www.prnewswire.com/in/news-releases/indias-international-avgc-xr-festival-gets-bigger-with-avaf-joining-hands-with-saik-and-toonz-media-group-302318640.html

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Degrii and BWT Pool Announce Global Strategic Partnership to Revolutionize Pool Cleaning

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November 29, 2024

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LYON, France, Nov. 29, 2024 /PRNewswire/ — At Piscine Global 2024 in Lyon, Degrii, a pioneer with over a decade of cleaning technology innovation, and BWT, a global leader in water solutions, proudly unveiled a strategic partnership set to redefine the robotics pool cleaning market.

Combining Strengths for Unmatched Innovation

Degrii’s 10 years of expertise in battery-powered robotics perfectly complements BWT’s leadership in water technology, its global sales and service network, and unparalleled marketing strength. Together, they will offer a range of advanced pool cleaning solutions, from high-performance cable-operated robots to cutting-edge battery-powered smart systems.

“This partnership with BWT represents a significant milestone for Degrii, allowing us to bring our cutting-edge expertise and innovative range of battery-powered pool robotics to a global audience and become the main player in this market,” said Fei Zhao, CEO of Degrii.

A Shared Vision for Growth

By joining forces, Degrii and BWT aim to accelerate growth and unlock new opportunities in the global pool cleaning industry. Customers will benefit from the combined strengths of Degrii’s technological innovation and BWT’s infrastructure, global sales network, and brand development expertise.

“Collaborating with Degrii allows us to leverage their worldwide leading know-how in battery pool robotics technology and bring our shared vision for uncompromising customer comfort and satisfaction in pool robotics to life. We’re looking forward to the innovative power and dynamic growth that this strategic partnership will foster,” said Andreas Weissenbacher, CEO of BWT.

This partnership signifies a major leap forward in pool cleaning technology, delivering smarter and more efficient solutions that push the limits and set a new benchmark for value and customer satisfaction globally.

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BingX to Announce Alex Nguyen as Spokesperson for Vietnam

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November 29, 2024

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VILNIUS, Lithuania, Nov. 29, 2024 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is proud to announce the appointment of Alex Nguyen as its Regional Spokesperson for Vietnam. The announcement will be made at the Vietnam Tech Impact Summit (VTIS), where BingX is participating as a Platinum Sponsor. This strategic move underscores BingX’s dedication to nurturing local talent and supporting Vietnam’s burgeoning role in the global blockchain and cryptocurrency landscape.

Alex Nguyen brings over two decades of extensive experience in finance, marketing, and business development to his role at BingX. In recent years, Alex has made significant contributions to the tech and crypto industries, further cementing his reputation as an innovator and thought leader in the digital economy. As a seasoned professional in the blockchain sector, Alex will serve as the face of BingX in Vietnam, championing the exchange’s vision to empower the local tech community and foster innovation in the fast-evolving digital economy. As Vietnam continues to emerge as a dynamic hub for blockchain and cryptocurrency, Alex Nguyen’s appointment reflects BingX’s commitment to connecting with local users and advancing the adoption of blockchain technology in the region.

“I am deeply honored to represent BingX as its Regional Spokesperson for Vietnam, a country poised to be a significant player in the global tech and blockchain landscape. Through this role, I look forward to fostering meaningful connections, supporting local innovation, and advancing the adoption of transformative blockchain solutions. Together with BingX, I am committed to empowering Vietnam’s tech community to embrace the immense opportunities of the digital age.” said Alex Nguyen.

Vivien Lin, Chief Product Officer of BingX, remarked: “The appointment of Alex Nguyen as our Regional Spokesperson is a significant milestone in our journey to deepen engagement in Vietnam. Alex brings valuable insights and leadership that align with our vision to bridge global expertise and local opportunities. This move underscores our ongoing commitment to empowering Vietnam’s tech innovators and accelerating blockchain adoption in this critical market.”

Scheduled for December 3rd and 4th at the National Convention Center in Hanoi, Vietnam, VTIS connects global experts, investors, and businesses, unlocking opportunities for collaboration, market access, and innovation. This premier tech event serves as a gateway to Vietnam’s rapidly growing technology market. BingX’s sponsorship aligns with its mission to become the gateway for the next billion crypto users. Alex Nguyen will deliver a keynote on blockchain innovations and join a panel discussing future advancements and security in digital assets, emphasizing BingX’s focus on fostering growth and innovation in Vietnam’s tech community.

Through its sponsorship of VTIS and the appointment of Alex Nguyen, BingX reaffirms its commitment to empowering Vietnam’s tech community with cutting-edge solutions, fostering partnerships, and inspiring broader adoption of digital assets. As a trusted leader in the global crypto space, BingX continues to set benchmarks for collaboration, innovation, and accessibility in emerging markets like Vietnam.

About BingX 

Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.

For more information please visit: https://bingx.com/

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SOURCE BingX

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