VNET Group (VNET Group) Construction In Progress : $482 Mil (As of Dec. 2023)

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What is VNET Group Construction In Progress?

VNET Group's quarterly construction in progress stayed the same from Jun. 2023 ($0 Mil) to Sep. 2023 ($0 Mil) but then increased from Sep. 2023 ($0 Mil) to Dec. 2023 ($482 Mil).

VNET Group's annual construction in progress declined from Dec. 2021 ($509 Mil) to Dec. 2022 ($397 Mil) but then increased from Dec. 2022 ($397 Mil) to Dec. 2023 ($482 Mil).

VNET Group Construction In Progress Historical Data

The historical data trend for VNET Group's Construction In Progress can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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VNET Group Construction In Progress Chart

VNET Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Construction In Progress

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269.92

341.67

508.60

397.37

482.37

VNET Group Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Construction In Progress	Get a 7-Day Free Trial															397.37	-	-	-	482.37

VNET Group Construction In Progress Calculation

It records the cost of construction work, which is not yet completed (typically, applied to capital budget items). A construction in progress item is not depreciated until the asset is placed in service. Normally, upon completion, a construction in progress item is reclassified, and the reclassified asset is capitalized and depreciated.

VNET Group (VNET Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » VNET Group Inc (NAS:VNET) » Definitions » Construction In Progress

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Traded in Other Exchanges

217A:Germany

Address

No. 10 Jiuxianqiao East Road, Guanjie Building Southeast 1st Floor, Chaoyang District, Beijing, CHN, 100016

Website

https://www.vnet.com

VNET started as AsiaCloud in 1999 and moved to the data center business with its first self-developed data center opening in 2010. The firm listed (as 21Vianet) on the Nasdaq in April 2011, subsequently changing its name to VNET Group in 2021. It originally focused on providing data center services such as colocation and cloud services to retail clients in China, but added hyperscale customers in 2019 and now counts large Chinese hyperscalers such as Alibaba Cloud, Tencent Cloud, and Huawei Cloud as customers. At end-September 2023 it had 84,608 self-built cabinets with the majority in Beijing, Shanghai, and the Greater Bay area. It also operated partnered data centers with around 4,314 cabinets and had 476 MW of wholesale capacity contracted or under a memorandum of understanding.