The company with the highest stock price on the floor plans to lose 572 billion VND.

July 7,   VNG Corporation held the 2023 Annual General Meeting of Shareholders online and approved the 2023 business plan with a target of net revenue of VND 9,281 billion, an increase of 19% over the same period in 2022 (VND 7,801 billion). Notably, VNG's plan is expected to still result in a loss of VND 572 billion. However, this loss has decreased sharply by 63% compared to 2022 (loss of VND 1,534 billion).

VNG's board of directors said that the loss was significantly reduced thanks to revenue growth, efforts to optimize operating costs, and caution in new investments. Shareholders also approved many other important contents such as audited business results for 2022, the plan to reduce charter capital, and adjust the company's charter according to the law.

VNG sets a target of sharply reducing losses in 2023 compared to 2022

From 2023, in addition to the three business pillars of online games, connection platform (Zalo) and Fintech (ZaloPay), the digital transformation segment (VNG Digital Business) will also become VNG's core business segment. Currently, VNG Digital Business is providing high-tech products and services for enterprise customers, including cloud computing, data centers, smart cameras, smart infrastructure management solutions, etc.

In 2022, VNG invested nearly 1,000 billion VND in the VNG Data Center project with a total floor area of ^{​​7,800m2} in District 7, Ho Chi Minh City. This is one of three data centers in Vietnam today that meets UpTime Tier III standards, expandable to 1,600 racks to promptly meet the current strong digital transformation process.

VNG's VNZ shares have officially been traded on UPCoM since the beginning of this year and quickly became the stock with the highest market price on the stock exchange when it reached nearly 1.5 million VND/share. However, the price of VNZ has since decreased and is currently at 740,000 VND. The position of the most expensive stock on the stock exchange currently belongs to XDC shares of Tan Cang Construction Company Limited, which is priced at 999,900 VND.

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