VNG Corporation plans to incur a net loss of approximately 572 billion VND this year, extending its losing streak to three consecutive years.
According to information recently released in the annual general meeting documents, this figure represents a significant improvement compared to last year's loss of VND 1,533 billion. Regarding revenue, the company aims for a 19% year-on-year growth, projected at approximately VND 9,300 billion.
In the first three months of this year, VNG generated revenue of over 1,850 billion VND, achieving nearly 20% of its plan, and is currently experiencing a net loss of 90 billion VND.
VNG's management stated that this year they will continue to invest in core business areas such as video games, advertising, e-wallets, and especially products using artificial intelligence. Therefore, the management proposed retaining the accumulated profit of over 5,000 billion VND (as of the end of last year) and not distributing dividends.
Last year, VNG recorded revenue of approximately 7,800 billion VND. In its self-prepared financial statements, the company reported a loss of over 1,300 billion VND, but after auditing, the loss increased to 1,533 billion VND. The management explained this difference was due to the inclusion of additional expenses related to taxes, intangible fixed assets, and provisions for financial investment activities.
On the stock exchange, the shares were placed under trading restrictions at the end of May due to delays in publishing financial reports, but these restrictions were lifted earlier this month. The shares are currently trading at around 755,000 VND, the highest price across all three exchanges (HoSE, HNX, and UPCoM). Market capitalization at this price is approximately 29,000 billion VND.
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