Established in 2024, first operating in the field of online game business. After that, under the leadership of Mr. Le Hong Minh, VNG continuously expanded its scope of operations, launching the online messaging platform Zalo (in 2012), Zalo Pay (2016), cloud computing and Data Center (2006-2007), computer programming, software production and commercial advertising…
Of which, Zalo is considered VNG's most successful platform, being used by 77 million monthly active users (MAU) as of the end of June 2024, an increase of 2% over the same period last year, and 1.9 billion messages sent per day, an increase of 7%.
In terms of games, VNG is still leading the Vietnamese market with famous titles such as Vo Lam Truyen Ky, Kiem The, etc. Online game services are the business segment that has brought in the most revenue for VNG in recent years.
This year, VNG targets revenue of VND11,069 billion and after-tax profit of about VND150 billion. VNG's Board of Directors plans to continue developing its business lines by diversifying products and services and expanding the market. In addition to continuing to invest in products such as video games, advertising, data centers, and cloud computing, the company will increase investment in products using artificial intelligence (AI).
VNG aims that in the next 3 years, revenue from overseas markets of online games and AI cloud computing will account for a higher proportion than domestic revenue.
VNG currently has a charter capital of 358.4 billion VND, of which VNG Ltd is the major shareholder, holding 49% of capital, BIGV Technology Joint Stock Company holds 17.84% of capital, Mr. Le Hong Minh, General Director of VNG holds 8.846% of capital…
In early 2023, VNZ shares of VNG company officially traded on UpCoM floor at 240,000 VND/share, then continuously increased to a record price of 1,434,700 VND/share and continuously decreased to the present time of 488,000 VND/share.
In 2014, VNG was valued at $1 billion according to the World Start-up Report, becoming the first technology unicorn in Vietnam. VNG had planned to list on the US stock exchange but later announced that it would postpone this plan.
However, VNG's business results have declined somewhat in the past 3 years, with losses continuously increasing. In the 2021-2023 period, the company lost 72 billion VND, 1,534 billion VND and 2,317 billion VND respectively.
In the first half of this year, VNG achieved consolidated revenue of VND4,314 billion, up 30% over the same period last year. In the revenue structure, online game services continued to account for the highest proportion, reaching 72%. In addition, value-added services on telecommunications and internet networks, and online advertising services also contributed to revenue.
However, expenses such as sales costs and large business management costs have “eroded” profits, combined with losses from affiliated companies, causing VNG to lose nearly VND586 billion. However, this level is still lower than the loss of VND1,205 billion in the same period last year.
In the first half of the year, VNG still recorded a loss of VND18 billion from its affiliates. In the same period last year, the company recorded a loss of VND206 billion.
VNG has 11 direct subsidiaries and 27 indirect subsidiaries. On June 30, the company invested more than VND2,213 billion in affiliated companies such as Tiki Global, Telio, Funding Asia or VTH… These businesses are mainly established abroad. However, this investment has accumulated losses of more than VND1,047 billion, so VNG's investment value has decreased to VND1,166 billion.
VNG also holds a large amount of cash and deposits. As of June 30, the company had more than VND3,402 billion in idle cash, down 14% from the end of last year. The company has total assets of more than VND10,126 billion.
Regarding debt, VNG has financial debt of VND2,031 billion, up 37% compared to the beginning of the year. Of which, short-term debt accounts for 71%. The debt/equity ratio is 1.2 times.