<SEC-DOCUMENT>0001104659-24-074067.txt : 20240827
<SEC-HEADER>0001104659-24-074067.hdr.sgml : 20240827
<ACCEPTANCE-DATETIME>20240624060311
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ACCESSION NUMBER:		0001104659-24-074067
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240624

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VNET Group, Inc.
		CENTRAL INDEX KEY:			0001508475
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
		ORGANIZATION NAME:           	06 Technology
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		GUANJIE BUILDING, SOUTHEAST 1ST FLOOR
		STREET 2:		10# JIUXIANQIAO EAST ROAD
		CITY:			Beijing
		STATE:			F4
		ZIP:			100016
		BUSINESS PHONE:		(86 10) 8456-2121

	MAIL ADDRESS:	
		STREET 1:		GUANJIE BUILDING, SOUTHEAST 1ST FLOOR
		STREET 2:		10# JIUXIANQIAO EAST ROAD
		CITY:			Beijing
		STATE:			F4
		ZIP:			100016

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	21Vianet Group, Inc.
		DATE OF NAME CHANGE:	20110406

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	21 Vianet Group, Inc.
		DATE OF NAME CHANGE:	20101221
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June 24, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>VIA CORRESPONDENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Office of Trade&nbsp;&amp; Services</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">100 F Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Anastasia Kaluzienski</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Robert Littlepage</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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    <TD STYLE="text-align: right; width: 0.4in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Re:&nbsp;</B></FONT></TD>
    <TD STYLE="width: 0.1in">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>VNET Group,&nbsp;Inc.</B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Form&nbsp;20-F for the Year Ended December&nbsp;31, 2023</B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Filed April&nbsp;26, 2024</B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>File No.&nbsp;001-35126</B></FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Ms.&nbsp;Kaluzienski and Mr.&nbsp;Littlepage:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This letter sets forth the response of VNET Group,&nbsp;Inc.
(the &ldquo;Company&rdquo;) to the comments contained in the letter dated June&nbsp;10, 2024, from the staff (the &ldquo;Staff&rdquo;)
of the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) regarding the Company&rsquo;s annual report on Form&nbsp;20-F
for the fiscal year ended December&nbsp;31, 2023 (the &ldquo;Form&nbsp;20-F&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For ease of review, we have set forth below each
of the numbered comments of the Staff&rsquo;s letter in bold and our responses thereto. Further, we will include the revisions proposed
in our responses to the Staff&rsquo;s comments in future annual report filings with the Commission, after the Staff&rsquo;s completion
of its review of our responses. All capitalized terms used but not defined in this letter shall have the meaning ascribed to such terms
in the Form&nbsp;20-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">***</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Form&nbsp;20-F for the Fiscal Year Ended December&nbsp;31, 2023</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Introduction, page&nbsp;1</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>1. We note that you have excluded Hong Kong and Macau from your
definition of &quot;China&quot; or &quot;PRC&quot; for the purpose of your annual report, yet it appears that you have Hong Kong subsidiaries.
Please remove the exclusion of Hong Kong and Macau from such definition and clarify that the legal and operational risks associated with
operating in China also apply to operations in Hong Kong/Macau. In this regard, ensure that your disclosure does not narrow risks related
to operating in the PRC to mainland China only. Where appropriate, you may describe PRC law and then explain how law in Hong Kong/Macau
differs from PRC law and describe any risks and consequences to the Company associated with those laws.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comment, the Company proposes to revise the definition of &ldquo;China&rdquo; or &ldquo;PRC&rdquo; in
the Form&nbsp;20-F in future filings&nbsp;as follows, with the added disclosure underlined and the removed disclosure crossed out for
ease of reference:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Page&nbsp;1 of the Form&nbsp;20-F.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&ldquo;China&rdquo;
or the &ldquo;PRC&rdquo; refers to the People&rsquo;s Republic of China, <U><STRIKE>excluding, for the purpose of this annual report
only, Hong Kong, Macau and Taiwan;&rdquo;</STRIKE></U></FONT>&nbsp;<U>and only in the context of describing PRC laws, regulations and
other legal or tax matters in this annual report, excludes Hong Kong and Macau;&rdquo;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company also proposes to further supplement the risk factors section
by inserting the below disclosure to clarify that risks associated with operations in mainland China also apply to Hong Kong, with the
added disclosure underlined for ease of reference:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Page&nbsp;18 of the Form&nbsp;20-F</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">An investment in our ADSs involves significant risks. <U>The operational
risks associated with being based in and having operations in mainland China also apply to operations in Hong Kong. The legal risks associated
with being based in and having operations in mainland China are expected to apply to mainland China entities and businesses, rather than
entities or businesses in Hong Kong which operate under a different set of laws from mainland China. </U>Below is a summary of material
risks we, our subsidiaries and VIEs face.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Financial Information Related to the VIEs and Parent, page&nbsp;13</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>2. In future filings please label your tables as &quot;Condensed
Consolidating&quot; instead of &quot;Condensed Consolidated.&quot;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
The Company acknowledges the Staff&rsquo;s comment. In response to the Staff&rsquo;s comment, the Company will label the tables as &ldquo;Condensed
Consolidating&rdquo; instead of &ldquo;Condensed Consolidated&rdquo; in the Form&nbsp;20-F in future filings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">***</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If you have further questions or comments regarding,
or require further information or clarification of, any of the responses provided in this letter or if the Commission has any questions
with respect to Company&rsquo;s Annual Report on Form&nbsp;20-F, please contact James C. Lin of Davis Polk&nbsp;&amp; Wardwell LLP at
+852 2533 3368 or james.lin@davispolk.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Thank you for your time and attention.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Yours sincerely,</P>

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    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ Qiyu Wang</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Qiyu Wang</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: Chief Financial Officer</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">cc:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr.&nbsp;Sheng Chen,&nbsp;Interim Chief Executive Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">VNET Group,&nbsp;Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr.&nbsp;James C. Lin, Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Davis Polk&nbsp;&amp; Wardwell LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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