FinancialStatements

Financial Performance

Unit: Billion VND

Net Revenue

Accounting profit
before tax

Net profit after tax

Total Assets

Financial Indicators

Unit: %

Return on Sales (ROS)

Return on Equity (ROE)

Return on Asset (ROA)

Contributions to the State Budget

Unit: Billion VND

Consolidated balance sheet
	Code	Note	31/12/2025VND	1/1/2025VND
ASSETS
Current assets(100=110+120+130+140+150)	100		59,561,171,811,187	59,543,529,720,085
Cash and cash equivalents	110	5	10,675,798,547,805	14,933,068,792,315
Cash	111		7,700,724,630,475	5,329,158,367,088
Cash equivalents	112		2,975,073,917,330	9,603,910,425,227
Short-term financial investments	120		17,857,388,795,085	15,108,762,286,646
Trading securities	121		6,641,022,742	6,691,022,742
Allowance for diminution in the value of trading securities	122		(1,909,000,000)	(2,095,304,108)
Held-to-maturity investments	123	6(a)	17,852,656,772,343	15,104,166,568,012
Accounts receivable – short-term	130		15,969,900,845,614	12,465,105,480,349
Accounts receivable from customers	131	7	15,782,706,609,584	12,232,902,323,561
Prepayments to suppliers	132		532,504,290,962	383,629,822,851
Other receivables	136	8	958,916,064,386	654,385,304,273
Allowance for doubtful debts	137	9	(1,304,989,454,114)	(806,531,504,366)
Shortage of assets awaiting resolution	139		763,334,796	719,534,030
Inventories	140	10	13,861,852,856,196	15,673,039,677,316
Inventories	141		14,032,335,228,444	15,746,686,393,576
Allowance for inventories	149		(170,482,372,248)	(73,646,716,260)
Other current assets	150		1,196,230,766,487	1,363,553,483,459
Short-term prepaid expenses	151		358,703,338,716	353,345,217,068
Deductible value added tax	152		468,115,179,519	411,308,909,245
Taxes and others receivable from State Treasury	153	18	368,603,997,624	598,191,162,379
Other current assets	155		808,250,628	708,194,767
Long-term assets(200 = 210 + 220 + 230 + 240 + 250 + 260)	200		26,294,225,600,625	21,731,105,153,387
Accounts receivable – long-term	210		40,496,474,226	31,273,357,852
Accounts receivable from customers – long-term	211		275,000,000	285,000,000
Other long-term receivables	216		40,376,474,226	33,355,357,852
Allowance for doubtful long-term debts	219		(155,000,000)	(2,367,000,000)
Fixed assets	220		14,485,935,784,835	13,585,527,863,398
Tangible fixed assets	221		12,002,780,265,336	11,198,732,428,507
Cost	222		40,060,542,415,255	37,616,410,718,322
Accumulated depreciation	223	11	(28,057,762,149,919)	(26,417,678,289,815)
Intangible fixed assets	227		2,483,155,519,499	2,386,795,434,891
Cost	228		3,485,467,763,955	3,324,142,680,857
Accumulated amortisation	229	12	(1,002,312,244,456)	(937,347,245,966)
Investment property	230	13	103,409,386,535	107,979,606,627
Cost	231		197,192,214,283	195,263,598,500
Accumulated depreciation	232		(93,782,827,748)	(87,283,991,873)
Long-term work in progress	240		1,241,614,584,641	1,445,555,813,867
Construction in progress	242	14	1,241,614,584,641	1,445,555,813,867
Long-term financial investments	250		6,732,804,054,774	3,221,257,702,429
Investments in associates, joint-ventures	252	6(b)	1,594,875,711,056	1,579,182,296,955
Equity investments in other entities	253	6(c)	260,411,708,977	263,775,498,977
Allowance for diminution in the value of long-term financial investments	254	6(d)	(122,483,365,259)	(122,100,093,503)
Held-to-maturity investments	255	6(a)	5,000,000,000,000	1,500,400,000,000
Other long-term assets	260		3,689,965,315,614	3,339,510,809,214
Long-term prepaid expenses	261		3,377,980,405,351	3,196,608,497,707
Deferred tax assets	262	15	307,151,391,747	138,666,258,231
Other long-term assets	268	16	4,833,518,516	4,236,053,276
TOTAL ASSETS(270 = 100 + 200)	270		85,855,397,411,812	81,274,634,873,472
RESOURCES
LIABILITIES(300 = 310 + 330)	300		56,293,654,583,191	51,966,660,429,999
Current liabilities	310		55,354,328,118,906	51,179,621,629,763
Accounts payable to suppliers	311	17	23,980,153,196,577	25,234,288,621,868
Advances from customers	312		496,304,121,511	300,833,697,756
Taxes and others payable to State Treasury	313	18	2,139,493,701,520	2,118,247,116,721
Payables to employees	314		1,842,959,286,283	1,556,124,473,509
Accrued expenses	315	19	4,465,046,672,500	422,929,120,203
Unearned revenue – short-term	318		13,269,380,679	13,322,247,375
Other payables – short-term	319	20	437,892,810,707	334,920,588,040
Short-term borrowings	320	21(a)	18,085,030,169,112	17,384,522,205,263
Provisions – short-term	321		274,662,894,662	180,779,589,540
Bonus and welfare fund	322	22	531,957,067,781	552,181,042,922
Petroleum price stabilisation fund	323	23	3,087,558,817,574	3,081,472,926,566
Long-term liabilities	330		939,326,464,285	787,038,800,236
Long-term advances from customers	332		16,891,410,920	15,527,760,920
Long-term accrued expenses	333		51,084,497,063	40,106,480,521
Long-term unearned revenue	336		15,351,298,243	17,678,083,487
Other payables – long-term	337		122,116,473,436	68,619,215,898
Long-term borrowings	338	21(b)	609,034,269,222	487,101,948,000
Deferred tax liabilities	341	16	110,123,920,200	100,905,942,410
Provisions – long-term	342		14,724,595,201	57,099,369,000
EQUITY(400 = 410)	300		29,561,742,828,621	29,307,974,443,473
Owners' equity	410	24	29,561,742,828,621	29,307,974,443,473
Share capital	411	25	12,938,780,810,000	12,938,780,810,000
Ordinary shares with voting rights	411a		12,938,780,810,000	12,938,780,810,000
Share premium	412		7,359,059,317,417	7,359,059,317,417
Other capital	414		1,143,845,379,060	966,832,515,772
Treasury shares	415		(232,858,460,000)	(232,858,460,000)
Differences upon asset revaluation	416		(1,279,967,589,219)	(1,279,967,589,219)
Foreign exchange differences	417		169,086,330,934	162,646,100,841
Investment and development fund	418		2,036,014,884,810	2,095,393,107,398
Other equity funds	420		68,510,225,034	84,167,516,368
Retained profits	421		4,004,042,603,717	3,928,809,359,665
Retained profits brought forward	421a	26(a)	1,328,782,320,672	3,928,809,359,665
Retained profit for the current year	421b	26(b)	2,675,260,283,045	-
Non-controlling interest	429		3,355,229,326,868	3,285,111,765,231
TOTAL RESOURCES(440 = 300 + 400)	440		85,855,397,411,812	81,274,634,873,472

Consolidated statement of income
	Code	Note	2025VND	2024VND
Revenue from sales of goods and provision of services	01		309,985,192,170,389	284,124,014,890,319
Revenue deductions	02		110,677,000,450	106,590,351,159
Net revenue (10 = 01 - 02)	10	4	309,874,515,169,939	284,017,424,539,160
Cost of sales	11	4	291,761,774,258,651	266,666,114,613,699
Gross profit (20 = 10 - 11)	20		18,112,740,911,288	17,351,309,925,461
Financial income	21	29	1,821,538,326,716	1,635,278,874,392
Financial expenses	22	30	1,274,043,644,160	1,196,075,118,805
In which: Interest expense	231		798,238,675,117	568,190,119,356
Share of profit in associates and joint ventures	24	31	576,399,716,450	528,005,384,335
Selling expenses	25	32	14,467,138,972,487	13,517,691,226,147
General and administration expenses	26	33	1,192,962,717,820	1,040,695,331,786
Net operating profit {30 = 20 + (21 - 22) + 24 - (25 + 26)}	30		3,576,533,619,987	3,760,132,507,450
Other income	31		127,238,314,116	294,790,227,180
Other expenses	32		60,308,348,009	82,742,455,175
Results of other activities (40 = 31 - 32)	40		66,929,966,107	212,047,772,005
Accounting profit before tax (50 = 30 + 40)	50		3,643,463,586,094	3,972,180,279,455
Income tax expense – current	51	35	775,649,251,314	799,607,413,938
Income tax (benefit)/expense – deferred	52	35	(158,930,228,038)	11,420,925,002
Net profit after tax (60 = 50 - 51 - 52)	60		3,026,744,562,818	3,161,151,940,515
Attributable to:
Shareholders of the Parent Company	61		2,675,260,283,045	2,889,803,702,540
Non-controlling interest	62		351,484,279,773	271,348,237,975
Earnings per share
Basic earnings per share	70	36	1,472	1,509

Consolidated statement of cash flows
	Code	2025VND	2024VND
CASH FLOWS FROM OPERATING ACTIVITIES
Accounting profit before tax	01	3,643,463,586,094	3,972,180,279,455
Adjustments for
Depreciation and amortisation	02	2,303,280,724,135	2,177,193,998,275
Allowances and provisions	03	644,787,104,707	456,775,412,122
Exchange gains arising from revaluation of monetary items denominated in foreign currencies	04	(8,254,052,121)	(10,878,154,953)
Profits from investing activities	05	(1,848,597,669,126)	(1,546,179,461,991)
Interest expense	06	798,238,675,117	568,190,119,356
Other adjustments (Movement in Petroleum price stabilisation fund – Note 23)	07	-	23,302,392,000
Operating profit before changes in working capital	08	5,532,918,368,806	5,640,584,584,264
Change in receivables	09	(3,560,402,853,861)	(1,986,871,618,966)
Change in inventories	10	1,714,351,165,132	(1,069,142,043,359)
Change in payables and other liabilities	11	2,936,321,490,697	2,686,050,322,105
Change in prepaid expenses	12	(22,365,123,449)	(321,976,620,446)
Change in trading securities	13	50,000,000	-
Interest paid	14	(782,247,327,576)	(594,550,108,333)
Income tax paid	15	(750,566,343,823)	(908,627,737,024)
Other receipts from operating activities	16	6,085,891,008	5,650,936,646
Other payments for operating activities	17	(1,083,777,173,176)	(1,078,126,941,733)
Net cash flows from operating activities	20	3,990,368,093,758	2,372,990,773,154
CASH FLOWS FROM INVESTING ACTIVITIES
Payments for additions to fixed assets and other long-term assets	21	(2,662,439,492,218)	(1,995,731,599,636)
Proceeds from disposals of fixed assets and other long-term assets	22	27,856,424,965	44,365,512,966
Payments for placement of deposits with terms of more than 3 months, purchase of debt instruments of other entities	23	(49,887,319,948,705)	(22,861,164,367,130)
Receipts from withdrawal of deposits with terms of more than 3 months, sales of debt instruments of other entities	24	43,639,229,744,374	26,024,480,599,593
Collections on investments in other entities	26	1,800,000,000	-
Receipts of interests, dividends and shares of profits	27	1,561,891,116,361	1,339,532,126,854
Net cash flows from investing activities	30	(7,318,982,155,223)	2,551,482,272,647
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings	33	82,381,295,263,115	71,468,190,918,980
Payments to settle loan principals	34	(81,585,425,630,137)	(73,402,086,128,922)
Payments of dividends	36	(1,724,767,984,432)	(2,107,418,183,785)
Net cash flows from financing activities	40	(928,898,351,454)	(4,041,313,393,727)
Net cash flows during the year (50 = 20 + 30 + 40)	50	(4,257,512,412,919)	883,159,652,074
Cash and cash equivalents at the beginning of the year	60	14,933,068,792,315	14,048,245,083,619
Effect of exchange rate fluctuations on cash and cash equivalents	61	242,168,409	1,664,056,622
Cash and cash equivalents at the end of the year (70 = 50 + 60 + 61) (Note 5)	70	10,675,798,547,805	14,933,068,792,315