VNET Welcomes New Senior Executive to Enhance Finance Operations

VNET Group Strengthens Financial Leadership

VNET Group, Inc., a prominent provider of internet data center services in China, has officially announced the appointment of Peter Zhihua Zhang as their new Senior Vice President of Operational Finance, effective immediately. This strategic move is expected to enhance the company's financial operations significantly, with Mr. Zhang stepping into a pivotal role that underscores VNET's commitment to strong fiscal governance.

Mr. Zhang will have the authority to review and approve financial statements and filings for SEC and Nasdaq compliance, as well as serve as the principal accounting officer in line with applicable U.S. securities regulations. His addition to the finance leadership team has garnered positive feedback from key stakeholders.

Josh Sheng Chen, the Founder and Executive Chairperson of VNET, expressed his enthusiasm for Mr. Zhang’s appointment, highlighting that he is a prime example of the company’s dedication to cultivating talent from within. “Peter embodies our culture of nurturing internal leaders,” Chen stated. “His extensive experience and operational acumen will be invaluable in our pursuit of sustainable growth and long-term value.”

Mr. Zhang comes to this role with a wealth of experience spanning multiple industries. He joined VNET in October 2019, initially overseeing a range of functions including accounting, taxation, and compliance. His work has been instrumental in establishing robust financial systems to support VNET's various business units, which has laid the groundwork for operational compliance and growth. In addition, he has been pivotal in leading domestic debt financing endeavors and strategic partnerships—most notably with tech giant, Microsoft.

Before his tenure at VNET, Mr. Zhang held significant positions, including Chief Financial Officer at a TMT enterprise and finance director at Anta Group. He also gained considerable expertise in finance during his time at Lenovo and TDK. With a Certified Management Accountant designation and degrees in Accounting from Jilin University and an MBA from Renmin University of China, his academic background further complements his professional accomplishments.

VNET Group’s Vision

VNET Group positions itself as a leading carrier- and cloud-neutral internet data center service provider, catering to a diverse clientele ranging from internet companies to governmental organizations. Their operations stretch across more than 30 cities throughout China, emphasizing reliability, security, and speed in internet infrastructure.

The firm provides a variety of hosting and related services, adapting to the evolving needs of its over 7,000 enterprise customers, whether they're large blue-chip firms or smaller enterprises. As the data center services market continues to expand, VNET is well-prepared to meet heightened demand, thanks in large part to its meticulous financial governance and capable leadership.

This announcement serves as a beacon of VNET's forward-looking strategy to bolster its leadership and operational frameworks. As the industry landscape changes, VNET remains committed to excellence in both service and governance. The company looks forward to Mr. Zhang’s contributions in not just maintaining compliance but also in driving strategic initiatives that enhance overall corporate value.

For further updates from VNET Group, stakeholders and interested parties can monitor their official communications as they continue to evolve and adapt to market changes.

Conclusion

With Mr. Zhang at the helm of operational finance, VNET Group is poised for a promising trajectory, setting the stage for enhanced financial practices that will contribute greatly to the company's vision for sustainable growth and innovation in the tech-driven landscape.