BEIJING, May 5, 2022
/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 is
aware of the fact that it was provisionally named by the United
States Securities and Exchange Commission (the "SEC") as a
Commission-Identified Issuer under the Holding Foreign Companies
Accountable Act (the "HFCAA") on May 4,
2022 U.S. Eastern Time, following the Company's filing of
its annual report on Form 20-F for the fiscal year ended
December 31, 2021 with the SEC on
April 26, 2022.
The Company understands that the SEC made such identification
pursuant to the HFCAA and its implementation rules issued
thereunder. This indicates that the SEC has determined the Company
used a registered public accounting firm as its independent auditor
whose working paper cannot be inspected or investigated completely
by the Public Company Accounting Oversight Board of the United States (the "PCAOB"), to issue the
audit opinion for the Company's financial statements for the fiscal
year ended December 31, 2021.
In accordance with the HFCAA, the SEC shall prohibit a company's
shares or American depositary shares from being traded on a U.S.
national stock exchange or in the over-the-counter trading market
in the United States if such
company has been identified by the SEC for three consecutive years
due to the PCAOB's inability to inspect the registered public
accounting firm's working paper related to such company.
VNET has been actively exploring possible solutions to best
protect the interest of its stakeholders. The Company will continue
to comply with applicable laws and regulations in both China and the U.S.
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 6,500 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.
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 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 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 and in the attachments 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.