VNG Corporation (VNG) has just announced its financial report for the first 6 months of 2024 (BCTC) with net revenue reaching 4,314 billion VND. The company has determined to promote the "Go Global" strategy, and expects two new spearheads - AI and B2B - to create breakthrough revenue in the second half of 2024. Notable business indicators in the first half of 2024 In the first half of 2024, the company's net revenue reached 4,314 billion VND. Gross profit from sales and services reached 1,511 billion VND; adjusted net loss from business operations was 400 million VND. 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.
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Notable business indicators in the first half of 2024. |
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 revenue from internal services) 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% YoY. 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 having to simultaneously balance financial goals with business growth goals. However, I believe that with capacity, experience and determination, the VNG team will continue to conquer the challenge for a memorable 20-year-old VNG year".
Positive impressions from B2B business segment in the first 6 months of the year, Zalo's core business segment continues to upgrade products serving corporate customers, with the goal of becoming the top 1 user-business interaction platform in Vietnam. By the end of June 2024, Zalo had cooperated with many banks to integrate the money transfer feature right in the application, recording a growth of more than 80% in monthly users (MAU) compared to the same period in 2023. Zalo OA continues to be an effective connection channel between users and businesses, with a 25% increase in the number of businesses paying monthly compared to 2023. Also in the first 6 months of the year, VNG Digital Business (VNG DB)'s revenue grew positively, continuously cooperating with prestigious global technology partners such as NVIDIA, ST Telemedia Global Data Centers, Vast Data, .. In the Security segment, Bshield is currently the first application security solution in Vietnam to participate in data protection for the national application VNeID. The trueID biometric solution also became the first unit in Vietnam to pass the iBeta Level 2 test on anti-fake face, providing services to more than 35 domestic banks and financial institutions. Last June, VNG Cloud successfully deployed the first inter-regional cloud computing infrastructure in Vietnam with a bandwidth of 50 Gbps, along with a roadmap to provide high-quality cloud solutions that meet the same standards as international cloud service providers.
VNG's revenue in foreign markets grew positively . The core business of Online Games also continued to record positive revenue from the global market. In the first half of 2024, total bookings from the international market increased by 23% over the same period, reaching VND 1,026 billion. VNGGames was also honored as "Best Game Publisher" at the Vietnam Game Festival 2024 hosted by the Ministry of Information and Communications and the "Mobile Gaming Excellence Award" from AppsFlyer. ZingPlay Game Studios (ZPS) confirmed for the first time that international revenue from the Card & Board segment exceeded domestic revenue. Continuing with this success, in the last 6 months of 2024, ZPS will release more than 10 local & casual games (folk games and simple entertainment) suitable for each country's culture. ZPS also aims to become an "AI-first studio", originating from the idea of launching a game studio using AI, providing the necessary tools for users to create their own games.
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Online Games Bookings from international markets (billion VND). |
Last June, VNG DB's AI Cloud division - GreenNode officially opened the AI Cloud Data Center in Bangkok, Thailand, becoming the first large-scale AI Cloud service provider in Southeast Asia after only nearly 6 months of implementation. This project has simultaneously achieved its goals in terms of deployment speed as well as commercialization capability, with tens of millions of USD in revenue from international customers. VNG currently has a total of 14 offices located in 11 major cities across Asia, including Shanghai, Beijing, Taipei (Taiwan, China), Bangkok, Singapore...
Affirming its position in the personal user segment , Zalo, as the No. 1 messaging application in Vietnam, continues to promote research and launch AI solutions with effective commercialization capabilities. In the first and second quarters of 2024, Zalo recorded 15 million users experiencing AI services, an increase of 45% over the same period. During the 2024 Tet holiday, Zalo also cooperated with many FMCG brands to design AI Avatars, actively supporting the branding campaigns of these brands. In terms of revenue, AI Avatar grew by 140% compared to the set target, and is also a successful pioneer in commercializing AI. On August 22, Adtima (the advertising platform of the Zalo ecosystem) and Zalo AI Lab presented a new AI application marketing solution for the advertising and marketing industry, initially transforming into a provider of comprehensive AI solutions, focusing on 4 areas: advertising, creativity, data analysis and customer care. In addition, the Vietnamese assistant Kiki continued to reach the milestone of 820,000 installed cars, accounting for nearly 20% of the market share of cars on the road in Vietnam, up 97% compared to the same period in 2023. In early July, Zalopay - VNG's electronic payment division converted from a pure e-wallet to an open payment application, accepting many payment methods including e-wallets, bank transfers, cards, Apple Pay and Zalopay's own financial services such as Buy Now Pay Later. This transformation has helped Zalopay's payment revenue grow strongly and annual financial services revenue recorded an increase of up to 190% compared to the same period in 2023.
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GreenNode's large-scale GPU Cloud infrastructure is located in Bangkok, Thailand. |
In addition, Zalopay also launched a Loyalty Membership program that allows users to accumulate reward points from spending via the multi-purpose Zalopay QR code and introduced a financial center to help users explore Zalopay's investment and lending products. With its continuous efforts to innovate, Zalopay has been certified as a typical Fintech Company in 2024, and the multi-purpose Zalopay QR code was honored as "Top 10 Good Vietnamese Products - For Consumer Rights in 2024".
| Established in 2004, VNG owns the leading digital ecosystem in Vietnam, with a diverse portfolio of products and services in 4 main groups: Online Games, Zalo & AI, Electronic Payment and Digital Transformation. VNG's mission is "Building Technology and Developing People. From Vietnam to the world". VNG's products have created a revolution in experience and interaction on digital platforms for millions of Vietnamese and international users. Currently, VNG has nearly 3,600 employees working in 11 cities worldwide. |
Source: https://nhandan.vn/vng-6-thang-dau-nam-2024-mang-b2b-va-doanh-thu-quoc-te-tang-truong-tich-cuc-post827859.html 
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