Vianet Grp Regulatory News (VNET)

18 July 2024

Vianet Group plc

("Vianet" or the "Group")

AGM Statement

Vianet Group plc (AIM: VNET), the leader in delivering actionable data and business insights through an integrated ecosystem of hardware devices, software platforms and smart insights portals, will be holding its Annual General Meeting ("AGM") today at 11.00 a.m. at the offices of Vianet Group plc, One Surtees Way, Surtees Business Park, Stockton on Tees, TS18 3HR.

James Dickson, Chair, will provide the following trading update at today's meeting:

"I am pleased to report that the positive momentum observed at the time of our Full Year results has continued, with the business making further progress in line with management expectations. Our strategic initiatives and investments in sales, technology, and new markets are successfully attracting new customers, strengthening existing relationships and expanding our range of services.

The secured contracts have contributed to a robust sales pipeline which we are focussed on delivering. The Group is strongly positioned for continued growth as we continue to execute on our long-term strategic plan and explore future strategic opportunities for Vianet.

I look forward to providing further colour at the time of our trading update in mid-October."

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About Vianet

Vianet Group is a leading provider of actionable management information and business insight created through combining data from our smart Internet of Things ('IOT') solutions and external information sources.

Since Admission to AIM in 2006, the Group has grown from its core beer monitoring business both organically and through strategic acquisitions to widen its offering and develop new businesses, especially in vending telemetry and contactless payment solutions particularly for the premium coffee sector.

Servicing over three hundred customers across the world and rendering live data to our IOT platform from over 250,000 connected machines daily, Vianet is one of the largest business to business (b2b) connected solutions providers in Europe with established long-term relationships with blue chip customers and growing recurring revenues which are over 85% of our total revenues.

In our Smart Machines division, we connect a single data gathering device with its own on-board communication capability to a customer's asset or system. The device then sends data back via our IOT platform to cloud based servers. The technology was originally developed for automated retailing machines; however, the flexibility and functionality of the device means the technology can be applied to any machine which has the capability to output data. The device is also used to connect our contactless payment solution and communicate payment terms to our cloud-based payment services providers where that application is also required.

The Smart Zones division is where we connect multiple data gathering devices into one or more systems or assets with the data from those devices being communicated back to our IOT platform and cloud-based servers via a single 3G communications hub. The technology was originally developed for flow monitoring devices, temperature sensors, and asset management in drinks retailing but any data gathering device with a digital output could be connected to the communications hub where required such as gaming machines, utilities management and EPOS.