The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

There is no CUSIP number assigned to the ordinary shares. CUSIP number 90138A103 has been assigned to the American Depositary Shares (“ADSs”) of the Issuer, each ADS representing six (6) Class A ordinary shares, which are quoted on the Nasdaq Global Market under the symbol “VNET”.

CUSIP No. 90138A103

Page 2 of 9 Pages

NAME OF REPORTING PERSONS

Sumitomo Mitsui Financial Group, Inc.

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

(a)  ☐        (b)  ☐

SEC USE ONLY

CITIZENSHIP OR PLACE OF ORGANIZATION

Tokyo, Japan

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

SOLE VOTING POWER

0

SHARED VOTING POWER

54,817,662(1)

SOLE DISPOSITIVE POWER

0

SHARED DISPOSITIVE POWER

54,817,662(1)

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

54,817,662(1)

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)  ☐

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

6.39%(2)

TYPE OF REPORTING PERSON (See Instructions)

FI

Reflects 9,136,277 American Depositary Shares (“ADSs”) of the Issuer, each of which represents six Class A Ordinary Shares of the Issuer, held by various investment vehicles for which TT International Asset Management and Sumitomo Mitsui DS Asset Management Company, Ltd serve as investment manager. .

Based upon 857,359,421 Class A Ordinary Shares outstanding as of February 28, 2022, according to the Form 20-F filed by the Issuer with the Securities and Exchange Commission (the “SEC”) on April 26, 2022.

CUSIP No. 90138A103

Page 3 of 9 Pages

NAME OF REPORTING PERSONS

SMBC Asset Management Services (UK) Limited     

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

(a)  ☐        (b)  ☐

SEC USE ONLY

CITIZENSHIP OR PLACE OF ORGANIZATION

London, United Kingdom

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

SOLE VOTING POWER

0

SHARED VOTING POWER

54,637,662⁽¹⁾     

SOLE DISPOSITIVE POWER

0

SHARED DISPOSITIVE POWER

54,637,662⁽¹⁾     

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    

54,637,662⁽¹⁾     

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)  ☐

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

6.37%⁽²⁾     

TYPE OF REPORTING PERSON (See Instructions)     

FI

Reflects 9,106,277 ADSs, each of which represents six Class A Ordinary Shares of the Issuer, held by various investment vehicles for which TT International Asset Management serves as investment manager.

Based upon 857,359,421 Class A Ordinary Shares outstanding as of February 28, 2022, according to the Form 20-F filed by the Issuer with the SEC on April 26, 2022.

CUSIP No. 90138A103

Page 4 of 9 Pages

NAME OF REPORTING PERSONS

TT International Asset Management Ltd

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

(a)  ☐        (b)  ☐

SEC USE ONLY

CITIZENSHIP OR PLACE OF ORGANIZATION

London, United Kingdom

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

SOLE VOTING POWER

0

SHARED VOTING POWER

54,637,662⁽¹⁾

SOLE DISPOSITIVE POWER

0

SHARED DISPOSITIVE POWER

54,637,662⁽¹⁾

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

54,637,662⁽¹⁾

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)  ☐

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

6.37%⁽²⁾

TYPE OF REPORTING PERSON (See Instructions)

FI

Reflects 9,106,277 ADSs, each of which represents six Class A Ordinary Shares of the Issuer, held by various investment vehicles for which TT International Asset Management serves as investment manager.

Based upon 857,359,421 Class A Ordinary Shares outstanding as of February 28, 2022, according to the Form 20-F filed by the Issuer with the SEC on April 26, 2022.

Name of Issuer.

Address of Issuer’s Principal Executive Offices.

Name of Person Filing.

Address of Principal Business Office or, if none, Residence.

Citizenship.

Title of Class of Securities.

CUSIP Number.

If this statement is filed pursuant to § 240.13d-1(b) or § 240.13d-2(b) or (c), check whether the person filing is a:

☐ Broker or dealer registered under Section 15 of the Act.

☐ Bank as defined in section 3(a)(6) of the Act.

☐ Insurance company as defined in section 3(a)(19) of the Act.

☐ Investment company registered under section 8 of the Investment Company Act of 1940.

☐ An investment adviser in accordance with § 240.13(d)-1(b)(1)(ii)(E).

☐ An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F).

☐ A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G).

☐ A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813).

☐ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940.

☒ A non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J).

☐ Group, in accordance with § 240.13d-1(b)(1)(ii)(J).

Ownership.

Ownership of Five Percent or Less of a Class.

Ownership of More than Five Percent on Behalf of Another Person.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.

Identification and Classification of Member of the Group.

Notice of Dissolution of Group.

Certification.