20 years of technology development, towards the community

VNG 's 2024 Annual Report marks a pivotal year on its 20-year journey of growth, pioneering technology, innovation and gradually realizing the "Go Global" strategy.

VNG Campus headquarters in District 7, Ho Chi Minh City. Photo: VNG.

With revenue of VND9,273 billion and 3,324 employees working in 9 cities across Vietnam and Asia, VNG continues to affirm its position as one of the leading technology enterprises in Vietnam. In 2024, VNG also contributed VND1,114 billion to the state budget, marking the third consecutive year of maintaining a contribution of over VND1,000 billion.

“VNG’s dream has never changed – we want to build technology, develop people and become a global technology company, creating real value for users and society. New drivers such as the globalization of the gaming sector, Zalo platform, AI solutions and digital finance will open up the next decade of breakthroughs for the company,” Mr. Le Hong Minh, Founder & Chairman of the Board of Directors of VNG emphasized.

Three Strategic Pillars: Technology - AI - Globalization

This year's report clearly depicts the three strategic pillars that VNG is pursuing, as affirmed at the 2024 General Meeting of Shareholders:

• Developing technology platforms : Zalo maintains its position as the leading digital communication platform with 77.8 million regular users. The rate of users experiencing AI in the application is about 20%, with many features supporting smart communication such as translation, voice to text and vice versa,... Notably, Kiki Auto - a Vietnamese smart assistant - has reached more than 1 million installations on cars, accounting for 20% of the market share of cars on the road in Vietnam. In addition, revenue from value-added services and business services on Zalo also doubled compared to the previous year, thanks to products such as zCloud, zStyle, zBusiness and the Zalo Video platform - reaching 35 million users in the fourth quarter of 2024. Zalopay officially announced to become an open payment platform in July 2024, recording remarkable growth with total transaction value increasing by 39% and financial revenue increasing by 149% over the same period, supporting the national cashless payment strategy.
• Leading AI application : VNG has strongly implemented the “AI-First” strategy in the past year with a focus on comprehensively integrating AI into products and infrastructure. GreenNode, VNG’s AI Cloud division, made its mark with a large-scale AI Cloud infrastructure in Thailand, completed in less than 6 months – one of the fastest-implemented projects in Southeast Asia, recording tens of millions of USD in revenue in the first months of operation.
• Expanding the international market : After 20 years of development, VNG's gaming division has released more than 200 titles in Vietnam and more than 40 products internationally, reaching 79 million quarterly active users. The shift from PC to mobile devices since 2016 has helped consolidate VNG's pioneering position in Southeast Asia. Meanwhile, the partnership with NVIDIA ensures GreenNode priority access to advanced chipsets and NVIDIA-compatible technology, helping GreenNode meet the strict requirements of global customers.

Promoting digital economy, national digital transformation

Zalopay's transformation into an open payment platform from July 2024 will help users make transactions easily through e-wallets, banks, Apple Pay, Google Pay or international cards. The microfinance services that Zalopay has launched in recent years are contributing to the universalization of comprehensive finance to the underbanked customer group (who do not have access to banking services).

Not only creating many values ​​for users and businesses, VNG also plays an important role in the national digital transformation process. By the end of 2024, there were more than 17,000 Zalo OA accounts from state agencies operating nationwide, reaching more than 40 million people. Zalo has become an essential information and communication channel in emergency situations such as natural disasters and epidemics.

The business-to-business (B2B) segment has also made remarkable progress, with solutions such as GreenNode, TrueID, and VNG Cloud being chosen by more than 1,000 corporate and financial institution customers.

Technology for the community

VNG continues to demonstrate its social responsibility through initiatives to apply technology to serve the community. During Typhoon Yagi in September 2024, Zalo coordinated with the National Steering Committee for Natural Disaster Prevention and Control to send more than 143 million warning messages and recorded 1 million safety status updates via Zalo SOS.

Long-term programs such as UpRace, supporting education in remote areas, continue to be a highlight of VNG's commitment to sustainable development over the past two decades.

In the gaming field, we cooperate with VIRESA to promote professional e-sports, accompanying Vietnamese athletes at many SEA Games and ASIAD 19. Notably, in 2024, VNG cooperates with the Posts and Telecommunications Institute (PTIT) to implement Vietnam's first formal game development training program at a public university.

2024 is also the first year that VNG has deployed and launched both PDF and Digital versions of the Annual Report, clearly illustrating the company's most outstanding achievements over the past year, helping readers and investors experience the content in a visual and vivid way.

See the full VNG 2024 Annual Report at: [LINK]

Source: https://www.vng.com.vn/news/vng-reports/vng-cong-bo-bctn-2024.html