VinFast splits and receives huge support; 2 growth scenarios of PVN; Launch of FPT AI factory

Viettel Construction earns over 10 trillion VND in 10 months; VinFast receives support from Vingroup and Mr. Pham Nhat Vuong; PVN discusses 2 growth scenarios for 2025; FPT launches AI factory in Japan;

VinFast receives support from Vingroup and Mr. Pham Nhat Vuong

Vingroup Corporation and Mr. Pham Nhat Vuong have just announced their commitment to provide financial support to VinFast Company.

Accordingly, from now until the end of 2026, Vingroup plans to lend VinFast a maximum of VND35,000 billion. Mr. Pham Nhat Vuong also committed to sponsor VinFast with VND50,000 billion.

Vingroup plans to lend VinFast a maximum of VND35,000 billion in new loans. Mr. Pham Nhat Vuong pledged to finance VinFast with VND50,000 billion.

At the same time, Vingroup will invest more in VinFast Vietnam by converting all existing loans of about VND80,000 billion into dividend-entitled preferred shares.

The support plan aims to help VinFast have enough resources and additional reserves to finance business operations, essential investments and fulfill other company obligations, aiming to reach break-even point and self-balance cash flow by the end of 2026.

At the same time, VinFast continues to actively and independently deploy capital mobilization plans for its own capital needs and only uses support from Vingroup and Mr. Pham Nhat Vuong if capital mobilization does not meet the expected plan.

Currently, VinFast has completed the basic investment phase with the operation of the automobile manufacturing plant with a maximum capacity of up to 300,000 vehicles/year in Cat Hai - Hai Phong; research, development and completion of the product range; shifting the distribution model from direct to consumers to a distribution model through agents. The company is in the acceleration phase, boosting sales in all markets, optimizing cost structure.

On Vingroup's side, the support agreement is based on a thorough analysis of the impact on cash flow and profits to balance interests and ensure that Vingroup's indicators remain at a safe level. When VinFast reaches break-even and financial autonomy, and business operations are favorable, Vingroup will benefit from these investments.

As for Mr. Pham Nhat Vuong - as CEO and major shareholder of VinFast, the 50,000 billion VND sponsorship was arranged from personal assets, not affecting the interests of Vingroup and VinFast shareholders.

In the first 10 months of the year, VinFast delivered more than 51,000 electric cars of all kinds to the Vietnamese market, officially surpassing foreign car manufacturers to capture the largest market share.

Notably, VinFast is also the first electric car company to surpass rival gasoline car companies after just over 2 years of switching to pure electric. In the international market, VinFast has made breakthroughs, continuing to boost business in the US, Canada, Europe and starting to rapidly penetrate new markets such as the Middle East, Indonesia, the Philippines, India, etc.

Vingroup Corporation has also just issued a Resolution of the Board of Directors on separating VinFast Production and Trading Joint Stock Company and establishing a new subsidiary, in order to reorganize the ownership structure within the VinFast group of companies.

The newly established company is called VinFast Investment and Development Joint Stock Company (VinFast Investment Company), headquartered in Dinh Vu - Cat Hai Economic Zone, Cat Hai Island, Cat Hai Town, Cat Hai District, Hai Phong City. The company has an expected charter capital of VND 2,464 billion and is the unit holding VinFast's overseas investments.

Vingroup's capital contribution ratio in VinFast Investment Company is 51.1%, and Vingroup's ownership ratio in VinFast after the split is 61.06%.

Viettel Construction earned more than 10 trillion VND in 10 months

Viettel Construction Joint Stock Corporation (Viettel Construction) has just announced its preliminary business results for the first 10 months of 2024. The preliminary report shows that Viettel Construction recorded VND 10,395 billion in revenue and VND 546 billion in pre-tax profit, up 11% and 2% respectively over the same period last year.

Viettel Construction recorded VND 10,395 billion in revenue in the first 10 months of 2024

Compared to the annual plan, the Company achieved 82% of the revenue target and 81% of the profit target.

In October alone, Viettel Construction's revenue increased by 11% over the same period to VND1,250 billion, but pre-tax profit decreased by 7% to below VND62 billion.

Analyzing each main business segment, in the first 10 months of the year, the infrastructure rental segment had the highest growth rate, up 44% over the same period, earning more than 507 billion VND, but only accounting for 5% of the Company's total revenue.

Meanwhile, the mining operation segment continued to be the "locomotive" contributing VND 5,062 billion in revenue, up 9% over the same period and accounting for 49% of the Company's total revenue.

Following that, construction revenue contributed nearly VND 3,349 billion and technical solutions and services revenue contributed VND 1,387 billion, both up 19%.

PVN discusses 2 growth scenarios for 2025

Vietnam Oil and Gas Group (PVN) has met to discuss the production and business plan for 2025. The Group's member units shared the view that next year will face many challenges due to market fluctuations and unpredictable international geopolitical tensions, disrupting the supply chain of oil and gas equipment/goods, causing additional costs.

Total revenue of the whole Group in 10 months reached 820.4 trillion VND, up 10% over the same period.

On that basis, Petrovietnam built 2 growth scenarios.

In the scenario of oil price of 70 USD/barrel, the revenue target is nearly 810.1 trillion VND, paying to the State budget more than 91.3 trillion VND.

In the scenario of oil price of 75 USD/barrel, the Group raised its revenue target to more than 843.1 trillion VND, paying the State budget nearly 94.4 trillion VND.

Evaluating the two scenarios, which were calculated with all conditions, opportunities, and difficulties, PVN General Director Le Ngoc Son acknowledged that in 2025, the aerodynamic sector will be LNG; electricity will be Nhon Trach 3 & 4 Plant; investment and service growth will come from offshore wind power.

Besides opportunities, there are still difficulties due to oil and LNG prices being forecast differently among world organizations due to complicated developments in the world context, war, geopolitical tensions; gas supply is also a challenge in the Southeast region with a high-capacity running scenario...

Regarding the performance in the past 10 months, PVN said it has basically completed and exceeded all planned targets assigned by the Board of Members by 0.1-18.3%, of which many growth targets compared to the same period in 2023 such as urea production, electricity production, gasoline production, NPK production...

Total revenue of the Group in the first 10 months reached VND820.4 trillion, up 10% over the same period, completing the assigned plan 3 months ahead of schedule. The Group's total budget payment to the State in the first 10 months reached VND129.15 trillion, up 7%.

As of October, the total disbursement value of the Group reached VND27.1 trillion, up 90% over the same period. The total investment value of the Group reached VND23.3 trillion, double the same period.

FPT launches AI factory in Japan

FPT Corporation has launched an artificial intelligence factory (AI Factory) in Japan. FPT's AI Factory is built on the accelerated computing platform and software of technology giant NVIDIA.

Mr. Le Hong Viet, General Director of FPT Smart Cloud, FPT Corporation introduced the launch of FPT AI Factory in Japan.

FPT AI Factory in Japan provides three main product groups: FPT AI Infrastructure provides GPU cloud services with top-notch supercomputing capabilities to accelerate the construction and deployment of large AI models; FPT AI Studio platform provides smart tools for building, training and in-depth fine-tuning of AI models using NVIDIA NeMo; FPT AI Inference, combined with NVIDIA NIM and NVIDIA AI Blueprints, enables the efficient deployment and expansion of these models in terms of scale and number of uses.

In addition, FPT AI Factory also provides more than 20 generative AI products, helping businesses apply AI to improve operational efficiency, customer experience, develop human resources and optimize operating costs.

Previously, on April 23, 2024, FPT announced a strategic cooperation with NVIDIA to promote artificial intelligence research, providing services and solutions for customers in Vietnam and globally.

Vinh Hoan records 161% increase in revenue from US market

According to the business results of October 2024, Vinh Hoan Corporation is estimated to reach 1,206 billion VND in revenue, an increase of 59% over the same period last year, with the driving force from all consumption markets growing.

In October, Vinh Hoan's revenue from the US market increased by 161% over the same period, reaching 441 billion VND.

In October, Vinh Hoan's revenue from the US market increased by 161% over the same period, reaching VND441 billion; followed by domestic market revenue contributing VND280 billion (up 22%); the Chinese market contributed the most modestly, only VND144 billion, up 80%.

Previously, Vinh Hoan's consolidated financial statements for the third quarter of 2024 showed revenue of nearly VND3,300 billion, an increase of more than 21% over the same period last year. Gross profit margin was more than 17%, improving from the bottom of 8.15% in the fourth quarter of 2023, the most dismal period in many years of business. As a result, net profit reached VND320 billion, an increase of 68%, helping the accumulated net profit for the first 9 months reach VND808 billion.

In 2024, the Company proposed 2 business scenarios. In the low scenario, the minimum net profit plan is 800 billion VND and completed after 3 quarters; in the high scenario with 1,000 billion VND, Vinh Hoan achieved 80% of the year's target.

Source: https://baodautu.vn/vinfast-chia-tach-va-nhan-ho-tro-khung-2-kich-ban-tang-truong-cua-pvn-ra-mat-nha-may-fpt-ai-d230162.html