--- title: "AI takes off! Vnet's Q4 wholesale IDC business revenue surged by 125%, turning the annual net profit from loss to gain | Financial Report Insights" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/231534877.md" description: "The company's revenue in the fourth quarter was 2.246 billion RMB, a year-on-year increase of 18.3%. The net loss was 11.1 million RMB, a significant improvement compared to a loss of 2.444 billion RMB in the same period last year. The company expects revenue in 2025 to be between 9.1 billion and 9.3 billion RMB, a year-on-year increase of 10%-13%" datetime: "2025-03-12T12:19:01.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/231534877.md) - [en](https://longbridge.com/en/news/231534877.md) - [zh-HK](https://longbridge.com/zh-HK/news/231534877.md) --- > 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/231534877.md) | [English](https://longbridge.com/en/news/231534877.md) # AI takes off! Vnet's Q4 wholesale IDC business revenue surged by 125%, turning the annual net profit from loss to gain | Financial Report Insights Benefiting from AI-driven market demand, Vnet's wholesale IDC business performed strongly, with improved losses in the fourth quarter and a turnaround from loss to profit for the full year. On Wednesday, March 12, Vnet announced its financial report for the fourth quarter and the full year of 2024. **1) Key Financial Data** > - **Revenue:** Fourth quarter revenue was RMB 2.246 billion (USD 308 million), a year-on-year increase of 18.3%; full-year revenue was RMB 8.259 billion, a year-on-year increase of 11.4%. > > - **Profit:** The net loss for the fourth quarter was RMB 11.1 million, significantly improved from a loss of RMB 2.444 billion in the same period last year; the full-year net profit was RMB 183 million, compared to a loss of RMB 2.644 billion in the same period last year. > > - **Gross Margin:** The gross margin for the fourth quarter was 22.5%, significantly up from 15.3% in the same period last year; the full-year gross margin was 22.2%, a noticeable increase from 17.4% in 2023. > > - **Adjusted EBITDA:** The adjusted EBITDA for the fourth quarter was RMB 721 million (USD 98.8 million), a year-on-year increase of 63.8%; the full-year adjusted EBITDA was RMB 2.430 billion (USD 333 million), a year-on-year increase of 19.1%, including a disposal gain of RMB 87.7 million from the E-JS02 data center. > **2) Q4 Business Performance** > - **Net Revenue from IDC Business** was RMB 1.63 billion, a year-on-year increase of 28.3%. > > Wholesale IDC business: Fourth quarter revenue was RMB 665 million, a year-on-year increase of 125.4%, becoming the main driver of growth. > > Retail IDC business: Fourth quarter revenue was RMB 965 million, a slight year-on-year decrease of 1.1%. > > - **Net Revenue from Non-IDC Business** was RMB 616.5 million, a year-on-year decrease of 1.9%. The wholesale IDC business performed strongly, with operationally, **the business added several large orders in the fourth quarter, including a 32MW order in the Yangtze River Delta region and a 100MW framework agreement in the Ulanqab region** (of which 28MW will be delivered in the fourth quarter of 2025), and received a new customer order of 1.5MW from a retail data center in the Greater Bay Area for the autonomous driving industry; in terms of strategic cooperation, a capacity operated in collaboration with Changzhou High-tech Group received a 64MW order. Looking ahead to 2025, **the company expects revenue to be RMB 9.1 billion to RMB 9.3 billion, a year-on-year increase of 10%-13%; expected adjusted EBITDA: RMB 2.7 billion to RMB 2.76 billion, a year-on-year increase of 11%-14%**; excluding the disposal gain from the E-JS02 data center, the year-on-year growth of adjusted EBITDA will reach 15%-18%. The company stated that it will continue to promote the parallel development of wholesale and retail IDC businesses and continue to expand high-performance data center capacity to meet growing market demand VNET founder and interim CEO Chen Sheng stated: > "We are concluding 2024 on a strong note with a robust fourth quarter, particularly impressive performance in the wholesale IDC business as we continue to capture AI-driven market demand." After the earnings report was released, Century Internet's U.S. stock rose over 7% in pre-market trading. ### 相關股票 - [Vnet (VNET.US)](https://longbridge.com/zh-HK/quote/VNET.US.md) ## 相關資訊與研究 - [Meet 'Dobby': The AI agent that could kill the app economy](https://longbridge.com/zh-HK/news/281354277.md) - [Realbotix to Deliver 19 AI Humanoid Robots as It Scales Production](https://longbridge.com/zh-HK/news/281387250.md) - [Insig AI Plans Growth Drive and Eyes Nasdaq Dual Listing](https://longbridge.com/zh-HK/news/281311983.md) - [SharonAI Secures Major Long-Term AI Cloud Services Deal](https://longbridge.com/zh-HK/news/281363534.md) - [Legal AI startup Legora hits $100 million in annual recurring revenue](https://longbridge.com/zh-HK/news/281411319.md)