VNET

Vianet Group PLC

Technology First-pass screen £18m

460/1000 Overall fit

AI beneficiary 35% 38

Operating leverage 25% 58

Valuation 25% 40

Downside protection 15% 52

First-pass take

IoT/telemetry micro-cap with 86% recurring revenue and improved balance sheet (net debt £0.38m, down 75%), but zero AI exposure and minimal 0.6% growth. Cyclical vending/hospitality demand lacks defensiveness; fails AI beneficiary, growth, and downside protection criteria.

Flags

micro-caplow-growthcyclicalnear-net-cash