VNET Group, Inc. announces an Equity Buyback for $50 million worth of its shares.

VNET Group, Inc. (NasdaqGS:VNET) announces a share repurchase program. Under the program, the company will repurchase up to $50 million worth of its American Depositary Shares (ADSs), representing its six Class A ordinary shares. The company expects to utilize its existing funds to fund repurchases made under this program.

Any repurchased ADSs may be classified and held in the name of the Company as treasury shares or ADSs, which may be cancelled or used for other purposes. The repurchase program will run for a period of 12 months.