VNET Group, Inc. announced that its board of directors (the "Board") has appointed Mr. Jianbiao Zhu as an executive director of the Company to serve as the co-chairman of the Board alongside Mr. Josh Sheng Chen, effective January 10, 2024. Mr. Zhu brings extensive experience in private equity and secondary market investments as well as financial management to VNET's Board. He currently serves as an executive director, the vice chairman of the board of directors, the chairman of the strategic development committee, a member of the executive committee and the chief executive officer of Shandong High-Speed Holdings Group Limited.

Moreover, Mr. Zhu has been an independent non-executive director of Beijing Energy International Holding Co. Ltd. since June 2021, and a responsible officer of Sunfine Asset Management (Hong Kong) Limited since August 2019. Mr. Zhu is a co-founder of Longfine Capital Management Co.

Ltd. and Sunfine Asset Management (Hong Kong) Limited and served as both companies' chief executive officer from February 2018 to May 2021. From November 2012 to March 2017, he held various positions with CITIC Private Equity Funds Management Co. Ltd., including chief operating officer, investment decision committee member and investment management committee member.

Prior to that, Mr. Zhu was the executive deputy general manager and the chairman of the investment decision committee for Changsheng Fund Management Co. Ltd., chief inspector and director of the research and development department for Golden Eagle Asset Management Co. Ltd., and a lecturer on the Faculty of Investment and Finance of Guangdong University of Finance and Economics.

Mr. Zhu holds a bachelor's degree in economics from Jiangxi University of Finance and Economics and master's and doctorate degrees in finance from Jinan University.