VNET Group Inc. shares rose 11.81% to $7.28 Monday afternoon after PJ Millennium I and II Limited completed a secondary transfer of 650,424,192 Class A ordinary shares from existing stakeholders, including Success Flow International and Choice F.... The shares represented a 38.1% ownership stake based on VNET's 1,708,970,760 shares outstanding as of June 30. The purchasers are affiliated with Lochpine Capital Limited, which is tied to manufacturer Contemporary Amperex Technology Co. Limited, giving VNET concentrated institutional backing and potential strategic synergies across its operations in 30 cities without shareholder dilution.