VNET Group, Inc. Sponsored ADR (VNET) has released an update.
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VNET Group, Inc. has disclosed a significant update regarding a voting arrangement between founder Mr. Josh Sheng Chen and Shandong Hi-Speed Holdings Group Limited. This agreement, now in effect, provides the founder with the power to direct the voting of over 455 million Class A Ordinary Shares until December 2026. The arrangement could influence the company’s strategic decisions and is detailed in regulatory filings with the SEC.
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