Sheng Chen and Affiliates Enter Voting Agreement with CATL Affiliates for VNET Group, Inc.

On May 15, 2026, Sheng Chen and several affiliated entities (the Reporting Persons) filed Amendment No. 10 to their Schedule 13D regarding VNET Group, Inc. This filing follows a significant Share Purchase Agreement dated May 13, 2026, where affiliates of Contemporary Amperex Technology Co., Limited (the Buyers) agreed to purchase up to 650,424,192 Class A ordinary shares from existing investors. As part of the transaction, the Reporting Persons entered into a Voting and Consortium Agreement. Under this agreement, Mr. Sheng Chen will gain shared voting power over approximately 325,212,096 Class A ordinary shares held by the Buyers for an initial two-year term, subject to certain protective matters. Concurrently, Mr. Chen will relinquish his previous voting instruction power over 455,296,932 shares held by Investor A. Currently, the Reporting Persons collectively report beneficial ownership of 553,737,207 shares (32.4% of the class). Upon the closing of the proposed transaction, expected in Q4 2026, Mr. Chen's beneficial ownership is projected to adjust to approximately 24.8% of outstanding shares, representing 34.3% of total voting power.