VinFast receives committed funding; Vinamilk is present in 60 countries; Chu Lai Port opens new route
VNG scores in international revenue and AI products; Viettel High Tech provides a shooting training system for a company in the Philippines; Vinamilk is present in 60 countries across continents; Mr. Pham Nhat Vuong sponsors nearly VND 3,300 billion for VinFast; Chu Lai Port opens new shipping routes...
Mr. Pham Nhat Vuong sponsors nearly 3,300 billion VND for VinFast
Vingroup Chairman poured nearly VND3,300 billion more into VinFast as support for the subsidiary in the first half of 2024, according to the Audited Financial Report.
Vingroup Corporation (VIC) has just announced its semi-annual audited financial report. In particular, the explanation of key transactions stated that Mr. Pham Nhat Vuong, Chairman of Vingroup's Board of Directors, had sponsored nearly VND3,300 billion for his subsidiary in the first half of this year. This financial amount is to support VinFast, a subsidiary of Vingroup, according to the commitment made by Mr. Vuong earlier.
In addition to the support, Vingroup's Chairman has a transaction to transfer shares of a subsidiary company with a scale of more than 1,800 billion VND. At the same time, he continues to not receive remuneration at this group, similar to recent years.
Mr. Vuong has held the position of Chairman of the Board of Directors of VinFast since March 2022. In early 2024, he will transfer to the position of General Director of this electric vehicle manufacturing company, directly managing the company.
At the annual meeting of Vingroup Corporation at the end of April, Mr. Vuong said that VinFast is Vingroup's mission and future, so he "will never let go". He also affirmed that he will arrange personal funds to continue to sponsor the electric car company with at least 1 billion USD.
Previously, in early 2023, Vingroup's Chairman announced a donation of 1 billion USD to VinFast, Vingroup provided a non-refundable grant of 500 million USD, and lent VinFast 1 billion USD for up to 5 years. In early October 2023, Mr. Vuong donated another battery manufacturing company with a capital scale of 6,500 billion.
In the first half of this year, the manufacturing sector continued to be the second pillar in terms of revenue for Vingroup, bringing in nearly VND14,200 billion.
Vingroup's consolidated net profit for the first 6 months was recorded at over VND2,000 billion. Of which, divided by operating components, production continued to report a pre-tax loss of over VND18,800 billion. This loss was "borne" by real estate business activities (pre-tax profit of over VND9,600 billion), investment real estate leasing (over VND1,500 billion) and other activities.
Also according to the explanation in the audited financial report, Xanh SM - Mr. Pham Nhat Vuong's taxi company - contributed more than 5,700 billion VND in revenue to Vingroup, a slight increase compared to the same period.
This electric taxi company has always been the leading customer contributor to VinFast since its launch. In 2023, GSM Green and Smart Mobility Company appeared in the Significant Transactions with Related Parties section, with revenue from sales and service provision of more than VND 20,100 billion.
By the end of the second quarter, Vingroup also recorded more than VND67,500 billion in loans to subsidiaries. Of which, VinFast accounted for more than 77%, with outstanding loans to the group of more than VND52,200 billion.
Viettel High Tech provides Shooting Training System for Company in Philippines
Viettel High Tech (Viettel High Technology Industry Corporation - Vietnam) has just signed a contract to supply a shooting training simulation system with ContactPoint, Inc (Philippines).
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| Viettel High Tech is currently the leading unit providing simulation systems in the military and civil fields. |
This is a shooting simulation system designed specifically for the characteristics of the Philippine National Police. The system is mastered by Viettel in core technology with high customization capabilities, and has been supplemented with more than 90% new features according to customer training requirements. One of them is the development of recoil devices in the simulation system, supporting specific guns such as Glock, Taurus and M16 Rifle, developing new shooting training software modules... to help improve the quality of training and combat preparation.
Mr. Radel Ramos, Director of Training, Philippine National Police, expects the advanced technology solution to help the force significantly improve its training capacity, in accordance with the practical conditions of the Philippines.
Viettel High Tech General Director Nguyen Vu Ha said that Viettel's simulation system has undergone a rigorous testing process, ensuring long life and effective use in all conditions. "The success of the shooting training simulation system is a testament to Viettel's technological capabilities, built on many years of research and development," he said.
This is Viettel's second contract in six months in the Philippines market with a total value of nearly 2 million USD.
Viettel High Tech is currently the main unit providing simulation systems in the military and civilian fields, including tank training simulation systems, aircraft training simulation systems, personal shooting simulation systems for special reconnaissance forces and car driving simulation systems for civilians.
Vinamilk is present in 60 countries on all continents.
Vinamilk's net export revenue in the second quarter of 2024 was recorded at VND1,740 billion, up 37% year-on-year and higher than the 5.9% increase in the second quarter of 2024. Continuously improving products and maintaining close relationships with partners in markets are expected to continue to be the basis for Vinamilk's export growth in the last 6 months of the year.
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| Vinamilk has more than 26 years of experience exporting dairy products abroad. |
The positive growth in milk export revenue in the first 6 months of the year, continuing the growth momentum from 2023 to present, shows the effectiveness of combining support and trade promotion solutions, thereby increasing brand presence, finding opportunities and developing new customer groups.
New names have appeared in Vinamilk's list of export markets from Australia, South America and Africa, contributing to increasing the total number of countries that this enterprise has "set foot in" to over 60. This also shows the effective exploitation of international trade promotion activities to find partners and explore new markets.
Mr. Vo Trung Hieu, International Business Director of Vinamilk added: “Many partners are surprised to know that Vietnam can make dairy products with a series of high standards, delicious and very competitive prices.”
In 2024, Vinamilk targets revenue of VND 63,163 billion, in which international business and foreign branches are expected to continue to increase their contribution rate.
Up to now, Vinamilk has had more than 26 years of experience exporting dairy products abroad, with more than 300 types of products in the condensed milk, powdered milk, yogurt, etc. The total accumulated turnover reached more than 3.3 billion USD.
To achieve the export targets in 2024, according to experts, flexible and innovative trade promotion activities, combining traditional trade promotion with modern forms will be a lever. However, besides that, international standard production capacity, consistent product quality and grasping new consumption trends will still be factors creating long-term and sustainable growth.
PAN semi-annual net profit increased after audit
PAN Group Corporation (PAN Group) has just announced the audited results of the 2024 semi-annual financial year, with a net profit of VND 176.5 billion, an increase of VND 8 billion compared to the self-prepared report, a difference of more than 4%.
The reason for the increase in profit is that PAN Group adjusted financial expenses and sales expenses to reach VND213.5 billion and VND560 billion respectively, down 1% compared to the self-reported report. In addition, other profits were recorded at nearly VND350 million, instead of a loss of nearly VND300 million before the audit.
After audit, semi-annual revenue remained the same as the self-made report, at more than 6.8 trillion VND, up 29% over the same period in 2023; reaching 46% of the annual plan.
Leading the way were the fisheries and agriculture sectors, bringing in revenue of nearly VND3 trillion and over VND2.8 trillion, up 30% and 28% respectively over the same period. The food sector contributed over VND1 trillion in revenue, up 29%.
Revenue growth contributed to improved profit results with net profit of VND 176.5 billion, up 73% compared to the first 6 months of 2023, achieving more than 39% of the annual profit target.
At the end of June 2024, The PAN Group had total assets of more than VND 23.3 trillion, of which cash and financial investments were nearly VND 11.7 trillion. Correspondingly, payables were nearly VND 15 trillion, of which financial debt alone accounted for nearly VND 12.8 billion.
VNG scores in international revenue and AI products
VNG Corporation (VNG) has announced its financial report for the first 6 months of 2024 with net revenue reaching VND 4,314 billion. Gross profit from sales and services reached VND 1,511 billion; adjusted net loss from business operations was VND 400 million.
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| VNG DB's AI Cloud division - GreenNode 5 has just opened an AI Cloud Data Center in Bangkok, Thailand, becoming the pioneer large-scale AI Cloud service provider in Southeast Asia after only nearly 6 months of implementation. |
Total bookings of the Online Games segment reached VND 3,613 billion, down slightly by 3% compared to 2023. However, total bookings from the international market increased by 23% compared to the same period in 2023 (YoY), accounting for 28% of the booking structure of the Online Games segment.
As of the end of June 2024, Zalo continued to record 77 million monthly active users (MAU), up 2% year-on-year, and 1.9 billion messages sent per day, up 7% YoY.
VNG DB's monthly recurring revenue from external customers (excluding internal revenue) grew 79% in the first half of 2024.
Zalopay grew 42% in total payment volume, while optimizing marketing costs. Revenue from financial services grew 190% year-on-year.
Despite the unfavorable market context, VNG's core business segments are still on track and completing challenging projects: Zalo's revenue growth with corporate customers, VNGGames and Zingplay Game Studios continuously "exploring" foreign markets, AI Cloud segment successfully commercialized after only 6 months of implementation, Zalopay repositioned its brand to become an open payment platform.
Sharing about the business results of the first 6 months of the year, Mr. Le Hong Minh, Founder and General Director emphasized: “It will be a huge challenge for the VNG team in the last 6 months of the year when we have to balance financial goals with business growth goals at the same time. However, I believe that with our capacity, experience and determination, the VNG team will continue to conquer the challenge for a memorable 20-year anniversary of VNG.”
Chu Lai Port opens new shipping routes
On August 28, the ship MTT SAISUNEE (Malaysian nationality) belonging to RCL shipping line docked at Chu Lai port, opening a new shipping route directly connecting to India. The ship transported auto parts, mechanical parts, fruits, household goods, furniture, garments, etc. of enterprises in Tam Thang Industrial Park, THACO Chu Lai (Quang Nam) and VSIP Industrial Park (Quang Ngai) for export to India.
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| On August 28, the MTT SAISUNEE ship (Malaysian nationality) belonging to RCL shipping line docked at Chu Lai port, opening a new shipping route connecting directly to India. |
RCL is one of the leading shipping lines in Asia, established in 1979 in Thailand. Currently, the company owns and operates 49 container ships with 69 destinations in India and other countries in Asia and the Middle East. RCL's fleet has a total capacity of nearly 79,000 TEUs, meeting international standards for safety and environmental protection.
Initially, Chu Lai Port cooperated with RCL shipping line to operate the route from Xiamen (China) - Chu Lai - Port Klang (Malaysia) - Chennai - Kolkata - Kattupalli (India), with a frequency of 3 trips/month. Thereby, providing customers with many suitable transportation options at optimal costs, while developing the import-export market in the Central and Central Highlands regions.
As an important import-export gateway in the Central region and also a point of attraction for transit goods from the Central Highlands (Vietnam), Laos and Cambodia, Chu Lai port is promoting cooperation with international shipping lines (SITC, CMA CGM, ZIM, RCL...) to exploit intra-Asia service routes connecting directly to China, Korea, Japan; trans-Pacific routes to markets in the Americas and Europe.
In particular, with the opening of more direct shipping routes to major ports in India such as Chennai, Kolkata, Kattupalli, Nhava Sheva, Mundra, etc., Chu Lai port has provided many optimal transportation solutions, meeting the import and export needs of businesses in the region, contributing to bringing Vietnamese goods to the South Asian market through the "gateway" of India conveniently. From now on, instead of having to transit to ports in the South and North, businesses in the Central region can import and export goods to India at Chu Lai, significantly reducing time and costs.
Mr. Phan Van Ky, Director of Chu Lai Port said: “We are focusing on investing, upgrading synchronous infrastructure, applying information technology in port operations to improve service quality. Thereby, increasing connectivity with international shipping corporations and shipping lines, while attracting goods from import and export areas through the port”.
Thanks to a variety of new shipping routes and a constantly expanding customer network, in 2024, the volume of goods passing through Chu Lai port is expected to increase by more than 40% compared to 2023.
In the coming time, Chu Lai port will continue to promote cooperation with international shipping lines to increase the frequency of ships, and at the same time complete and put into operation the 50,000-ton port to receive large-capacity ships, meeting the increasing demand of the market. In addition, the port will improve the capacity of wharf exploitation, warehouses, vehicles, focusing on exploiting goods with much room for development in the Central Highlands (Vietnam), Laos, Cambodia such as agricultural - forestry - mineral exports.
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