Technology

VNET Announces Proposed Offering of Convertible Senior Notes

Published

1 year ago

March 13, 2025

BEIJING, March 13, 2025 /PRNewswire/ — VNET Group, Inc. (Nasdaq: VNET) (“VNET” or the “Company”), a leading carrier-neutral and cloud-neutral internet data center services provider in China, today announced the commencement of a proposed offering by the Company of US$400 million aggregate principal amount of its convertible senior notes due 2030 (the “Notes”), subject to market and other conditions (the “Notes Offering”).

The Notes will be senior, unsecured obligations of the Company, and will accrue interest payable semi-annually in arrears and will mature on April 1, 2030, unless earlier repurchased, redeemed or converted in accordance with their terms prior to such date.

Holders of the Notes may require the Company to repurchase all or part of their Notes in cash on April 3, 2028 or in the event of certain fundamental changes, at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the relevant repurchase date. In addition, on or after April 10, 2028, the Company may redeem all or part of the Notes for cash subject to certain conditions, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but not including, the relevant optional redemption date. Furthermore, the Company may redeem all but not part of the Notes in the event of certain changes in the tax laws, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but not including, the related redemption date.

Before October 1, 2029, Holders of the Notes will have the right to convert their Notes only upon the occurrence of certain events. From and after October 1, 2029, Holders of the Notes may convert their Notes at any time at their election until the close of business on the second scheduled trading day immediately preceding the maturity date. The Company will settle conversions by paying or delivering, as applicable, cash, the American Depositary Shares, each representing six Class A ordinary shares, with par value of US$0.00001 per share, of the Company (the “ADSs”) or a combination of cash and ADSs, at the Company’s election, subject to certain restrictions. The final terms of the Notes, including the interest rate, initial conversion rate and certain other terms of the Notes, will be determined at the pricing of the Notes Offering.

The Notes are offered in offshore transactions outside the United States to non-U.S. persons in compliance with Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”). The Notes, the ADSs deliverable upon conversion of the Notes (if any) and the Class A ordinary shares represented thereby have not been and will not be registered under the Securities Act or any other applicable securities laws, and may not be sold or otherwise transferred except under an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any other applicable securities laws. No public offering of the Notes, the ADSs deliverable upon conversion of the Notes (if any) and the Class A ordinary shares represented thereby is being made into the United States.

The Company intends to use the net proceeds from the Notes Offering for the capital investment in wholesale IDC projects, working capital and general corporate purposes.

The Company expects that potential investors in the Notes may employ a convertible arbitrage strategy to hedge their exposure in connection with the Notes. Any such activities by potential investors of the Notes following the pricing of the Notes Offering and prior to the maturity date could decrease (or reduce the size of any increase in) the market price of the ADSs and the trading price of the Notes. The effect, if any, of the activities described in this paragraph, including the direction or magnitude, on the market price of the ADSs or the trading price of the Notes will depend on a variety of factors, including market conditions, and cannot be ascertained at this time.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release contains information about the pending Notes Offering, and there can be no assurance that such transaction will be completed.

About VNET

VNET Group, Inc. is a leading carrier- and cloud-neutral internet data center services provider in China. VNET provides hosting and related services, including IDC services, cloud services, and business VPN services to improve the reliability, security, and speed of its customers’ internet infrastructure. Customers may locate their servers and equipment in VNET’s data centers and connect to China’s internet backbone. VNET operates in more than 30 cities throughout China, servicing a diversified and loyal base of over 7,500 hosting and related enterprise customers that span numerous industries ranging from internet companies to government entities and blue-chip enterprises to small- to mid-sized enterprises.

Safe Harbor Statement

This announcement contains forward-looking statements. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “target,” “believes,” “estimates” and similar statements. Among other things, quotations from management in this announcement as well as VNET’s strategic and operational plans, contain forward-looking statements. VNET may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about VNET’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: VNET’s goals and strategies; VNET’s liquidity conditions; VNET’s expansion plans; the expected growth of the data center services market; expectations regarding demand for, and market acceptance of, VNET’s services; VNET’s expectations regarding keeping and strengthening its relationships with customers; VNET’s plans to invest in research and development to enhance its solution and service offerings; and general economic and business conditions in the regions where VNET provides solutions and services. Further information regarding these and other risks is included in VNET’s reports filed with, or furnished to, the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and VNET undertakes no duty to update such information, except as required under applicable law.

Investor Relations Contact:

Xinyuan Liu
Tel: +86 10 8456 2121
Email: ir@vnet.com

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SOURCE VNET Group, Inc.

Technology

DMALL Gains Momentum in Southeast Asia with AI-Driven Retail Platform

Published

6 minutes ago

May 4, 2026

SINGAPORE, May 4, 2026 /PRNewswire/ — As retailers across Southeast Asia face rising operational complexity, shifting consumer expectations and margin pressure, demand is growing for integrated, real-time retail operating systems.

Dmall Inc. (02586.HK) is supporting this shift with a unified retail operating platform that connects core retail functions, improves execution efficiency and enhances visibility across stores, supply chains and customer touchpoints.

As one of China’s largest retail digital solutions providers by revenue and gross merchandise volume, Dmall serves nearly 600 retail clients across 11 countries and regions. Its platform has been shaped by large-scale deployments in complex retail environments, including long-standing work with Wumart Group, Metro, Lawson, 7-Eleven South China and SM Group in Southeast Asia.

Dmall’s recent collaboration with Cold Storage Singapore marks a milestone in supporting retail digital transformation across Southeast Asia. Completed within seven months, the project covered 87 stores across supermarket, hypermarket and express formats, consolidating multiple systems into a single platform across supply chain, merchandising and store operations.

“The transition was completed with minimal disruption to our operations,” said Mr. Lim Boon Chiong, Managing Director of Cold Storage Singapore. “We are seeing early improvements in product availability and replenishment, supported by better visibility across our supply chain and store network.”

The platform has also contributed to more consistent store execution and a more reliable customer experience. The first phase provides a foundation for the next stage of development, including AI-driven capabilities to further support product availability, freshness management and operational efficiency.

Dmall and Cold Storage Singapore plan to extend their cooperation to the fuel and convenience store format in June 2026, reflecting a deepening partnership and a shared commitment to creating greater operational value across retail formats.

“Southeast Asia is one of the world’s most dynamic retail markets, but also one of the most operationally complex,” said Mr. Zhongwei Ren, Partner and Chief Strategy Officer of Dmall. “By combining operational integration with AI-driven capabilities, Dmall aims to help retailers build more adaptive, scalable and efficient operations.”

About Dmall

Founded in 2015, Dmall (02586.HK) is committed to advancing retail through technology. As one of Asia’s leading providers of digital retail solutions, Dmall delivers integrated, AI-driven innovations that help retailers improve efficiency, optimize decisions and create greater value.

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SOURCE Dmall Inc.

Technology

Germany’s PDF/UA Mandate Raises the Bar for HTML to PDF C# Workflows

Published

6 minutes ago

May 4, 2026

Enterprise .NET teams generating PDFs at scale face new compliance pressure. Most aren’t ready.

CHICAGO, May 4, 2026 /PRNewswire/ — The German government’s Deutschland Stack has standardized on PDF/UA as the required format for final-form digital documents. For .NET teams building HTML to PDF C# workflows, the mandate forces a question many have deferred: does the library you depend on actually produce compliant output, or just output that looks right?

Iron Software’s IronPDF, a commercial .NET library used in regulated industries across logistics, healthcare, and finance, generates PDF/UA-1 compliant documents directly from HTML in C#. That’s the same conformance level the Deutschland Stack now requires.

“Accessibility compliance has shifted from important to mandatory,” said Cameron Rimington, CEO of Iron Software. “Government rules like this set a floor that enterprise teams are expected to meet, not aspire to. The question is whether their tooling can clear that bar without bolt-on remediation.”

From recommendation to requirement

PDF/UA (ISO 14289) defines what makes a PDF universally accessible: correct tag structure, logical reading order, and metadata that lets assistive technologies parse the document reliably. The standard has existed since 2012, but adoption has been patchy.

Germany’s decision to embed PDF/UA into its national digital stack moves it from best practice to enforceable baseline. Combined with the European Accessibility Act, which extends similar requirements to digital products serving EU markets, the compliance window for document-heavy .NET applications is closing fast.

Most HTML to PDF C# workflows aren’t compliant yet

Despite the regulatory pressure, PDF/UA compliance is still the exception across enterprise .NET. Many teams generating PDFs at volume, particularly those running HTML to PDF C# pipelines, are using libraries that produce visually correct files but miss the structural and metadata requirements accessibility standards actually demand.

As mandates harden, that gap is harder to defer.

“Germany just standardized on PDF/UA. In our experience, most development teams aren’t compliant yet, and they know it,” said Rimington. “That gap is why they’re coming to us.”

What this means for .NET developers

Teams generating PDFs in .NET, for government portals, financial statements, healthcare records, or legal filings, are increasingly being asked to prove their output meets accessibility standards, not just that it renders.

IronPDF gives developers a direct path from HTML to PDF in C# with two methods that cover the common cases:

RenderHtmlAsPdfUa generates PDF/UA-1 compliant documents directly from HTMLSaveAsPdfUa converts existing PDFs to PDF/UA-1

When source HTML is semantic and well-structured, compliant output can be produced in a single call with no remediation step required. For less structured input, additional tagging may be needed to reach full compliance.

The library also supports PDF/A (conformance levels 1 through 3, both b and a) and PDF versions 1.2 through 1.7, covering archival and compliance requirements common in public sector and enterprise deployments.

In production: serving Germany’s regulated industries

The compliance pressure IronPDF is built for is already shaping decisions on the ground. ThreeB IT, a software engineering firm based in Ibbenbüren, has standardized on IronPDF for document generation across logistics and healthcare platforms, including systems serving Kuehne + Nagel and nationwide COVID-19 testing infrastructure.

Operating under strict GDPR and healthcare data rules made the library choice a compliance decision as much as a technical one.

“Because Iron Software doesn’t store any data, GDPR compliance is simple. That’s critical for every project we build,” said Thimo Buchheister, CEO of ThreeB IT.

Deployment speed mattered just as much.

“IronPDF made it possible to build a nationwide COVID testing system in two weeks. The key part was ready within hours,” said Buchheister.

The firm now treats Iron Software libraries as a default in its stack.

“We’ll integrate at least one Iron Software product in every future project. It’s become part of our standard stack,” Buchheister added.

View original content:https://www.prnewswire.com/news-releases/germanys-pdfua-mandate-raises-the-bar-for-html-to-pdf-c-workflows-302761055.html

SOURCE Iron Software

Technology

Cregis Showcases at Money20/20 Asia 2026, Exploring a New Paradigm for Financial Infrastructure Powered by Stablecoins and On-Chain Payments

Published

6 minutes ago

May 4, 2026

HONG KONG, DUBAI, UAE and SINGAPORE, May 4, 2026 /PRNewswire/ — From April 21 to 23, 2026, at Money20/20 Asia 2026—one of the most influential fintech events in the Asia-Pacific region—Cregis participated as an exhibitor at Booth 6001. The conference brought together industry leaders to discuss key themes such as payment innovation, cross-border settlement, digital assets, and regulatory developments. During the event, Cregis presented its comprehensive digital asset infrastructure solutions tailored for enterprises and financial institutions, while engaging in in-depth conversations with participants from banks, payment providers, fintech companies, and Web3 organizations.

Advancing Payment Infrastructure

Throughout the event, the Cregis team highlighted its end-to-end capabilities in on-chain payments and digital asset management, with a focus on enterprise payment and treasury needs. As stablecoins and blockchain technologies increasingly move into real-world applications, enterprise priorities are shifting from simply supporting crypto assets to enabling efficient, secure, and controllable fund flows.

Cregis offers a unified infrastructure that supports multi-chain and multi-asset management, adaptable to a wide range of use cases including cross-border trade settlement, merchant payments, and corporate treasury operations. By ensuring both security and compliance, the platform enables more efficient global fund movement and greater transparency in settlement processes.

Richard, Co-Founder of Cregis, commented during the event: “Today, the key challenge for enterprises is no longer whether to enter the digital asset space, but how to build a fund management system that balances efficiency, security, and compliance. Through our infrastructure, we aim to help businesses operate more effectively in an increasingly complex global payments landscape.”

A New Cross-Border Payment Paradigm Driven by Stablecoins

Stablecoins and on-chain payments emerged as central topics at this year’s conference. As more financial institutions and payment providers explore the use of digital assets in cross-border settlement, stablecoins are becoming a critical bridge between traditional finance and the crypto economy.

During the event, Cregis engaged with various industry partners to discuss practical applications of stablecoins in cross-border trade, enterprise settlement, and treasury management. Compared to traditional cross-border payment rails, stablecoin-based settlement offers clear advantages in efficiency, cost, and transparency. At the same time, it raises higher requirements for underlying infrastructure, particularly in areas such as secure custody, fund monitoring, and regulatory compliance.

Engaging Industry Leaders: Exploring the Future Evolution of Finance in Asia

Beyond its presence on the exhibition floor, Cregis co-hosted a side event titled The Reserved Table: Redefining Asia’s Future of Settlements alongside WIDTH, StraitsX, and PlatON. The event brought together key players across payments, stablecoins, and cross-border settlement to explore the future trajectory of financial infrastructure in Asia.

At the event, Tannie, Head of Southeast Asia at Cregis, joined a panel discussion themed “A New Standard of Value: Stablecoins, Settlement & the New Money Stack”, where he shared insights from frontline enterprise use cases.

Tannie noted that the market still tends to view stablecoins primarily as a “product”, such as a yield-generating tool or trading instrument. However, in real-world business scenarios, stablecoins are increasingly evolving into foundational infrastructure. For exchanges, payment providers, and cross-border enterprises, the focus is no longer on yield, but on critical operational questions: how to enable real-time global settlement, how to manage liquidity across regions, and how to reduce reliance on traditional banking systems.

Looking ahead, Tannie emphasized that the deeper significance of stablecoins lies in their ability to fundamentally reshape how enterprises manage capital. Within an infrastructure-driven stablecoin framework, businesses can achieve:

Policy-based approval and signing mechanisms for fund movementsReal-time on-chain reconciliation and automated settlementA unified liquidity view across multiple chains and wallets24/7 uninterrupted treasury operations

This shift signals that stablecoins are not merely replacing traditional payment rails—they are driving enterprises to transition from conventional financial workflows toward a more programmable, automated “next-generation operating system for capital.”

From Payment Capabilities to Global Financial Connectivity

As stablecoins, on-chain payments, and enterprise-grade asset management systems continue to mature, a more efficient, transparent, and globally connected financial network is taking shape.

Richard noted: “In the coming years, as the convergence between traditional finance and Web3 accelerates, demand for robust digital asset infrastructure will continue to grow. Cregis aims to be a key enabler in this transition, providing enterprises with secure, scalable, and reliable foundational capabilities.”

Looking ahead, Cregis will continue to enhance its product offerings across custody, payments, and asset management. By focusing on real-world business needs, the company is committed to building a more comprehensive digital asset infrastructure, empowering global enterprises to improve efficiency, manage risks, and achieve sustainable growth in the next generation of financial systems.

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SOURCE Cregis