VNET Closes Deal, CATL-Linked Investor Takes 38.1% Stake
Beijing – September 21, 2026 -- VNET Group, Inc. (Nasdaq: VNET) has completed the transfer of 650,424,192 Class A ordinary shares to two investment vehicles linked to Contemporary Amperex Technology Co., Limited (CATL), giving the buyers a combined 38.1% stake in the Chinese data center operator.
PJ Millennium entities acquire majority-scale stake from prior shareholders
PJ Millennium I Limited and PJ Millennium II Limited purchased the shares from Success Flow International Investment Limited and Choice Faith Group Holdings Limited. Both buyers are wholly owned subsidiaries of PJ Millennium Limited Partnership, whose general partner, Lochpine BG I GP Limited, sits under Lochpine Capital Limited -- a non-controlled, non-consolidated affiliate of CATL (300750.SZ, 03750.HK).