Month: February 2021
Key ratios
| KEY FINANCIAL RATIOS | 1H2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
| Net Revenue Growth | -6.57% | 11.80% | -15.10% | -33% | 4% | 16% | -21% | -7% | 21% | 46% | 31% |
| Gross Profit Growth | -42.75% | 67.50% | 16.10% | -49% | -1% | 47% | -28% | 6% | 55% | 68% | -31% |
| EBIT Growth | -233.56% | 394% | 42.40% | -66% | 4% | 74% | -35% | 27% | 95% | 117% | -49% |
| Profit After Tax Growth | -360.50% | 303.10% | -48% | -64% | -14% | 93% | -33% | 20% | 80% | 242% | -60% |
| Total Assets Growth | 1.23% | 9% | 29.10% | 40% | 8% | 16% | -18% | -2% | 6% | -2% | 18% |
| Total Liabilities Growth | 4.78% | 14% | 56% | 131% | -18% | 15% | -37% | -18% | 0% | -10% | 29% |
| Shareholders’ Equity Growth | -3.15% | 2.90% | 6.90% | 6% | 22% | 16% | -0.10% | 19% | 17% | 12% | 1% |
| Gross Profit Margin | 12.35% | 20.10% | 13.30% | 13.5% | 18% | 18% | 14% | 16% | 14% | 11% | 10% |
| Return on Assets (ROA) | -1.94% | 1.30% | 1.20% | 2.9% | 11% | 14% | 8% | 8% | 9% | 5% | 1% |
| Return on Equity (ROE) | -4.42% | 2.90% | 2.60% | 5.4% | 16% | 22% | 13% | 20% | 20% | 13% | 4% |
| Net Profit Margin | -11.40% | 3.70% | 3.80% | 6.1% | 11% | 14% | 8% | 7% | 7% | 5% | 2% |
| Accounts Receivable Turnover | 2.88 | 15.1 | 0.14 | 17.73 | 30.50 | 25.20 | 18.90 | 29.10 | 41.70 | 42.50 | 46.00 |
| Inventory Turnover | 0.62 | 1.3 | 0.02 | 2.28 | 3.72 | 3.64 | 3.14 | 3.48 | 4.45 | 4.40 | 3.20 |
| Accounts Payable Turnover | 0.21 | 4.08 | 3.4 | 6.0 | 6.80 | 6.03 | 6.19 | 6.71 | 6.66 | 6.35 | 5.00 |
| Quick Ratio | 1.27 | 0.11 | 0.16 | 1.0 | 1.06 | 0.72 | 0.41 | 0.43 | 0.32 | 0.29 | 0.28 |
| Current Ratio | 0.94 | 0.97 | 0.80 | 1.82 | 1.87 | 1.38 | 1.11 | 1.07 | 0.94 | 0.84 | 0.88 |
| Debt-to-Assets Ratio | 0.57 | 0.58 | 0.55 | 0.45 | 0.28 | 0.36 | 0.36 | 0.48 | 0.57 | 0.61 | 0.66 |
| Debt-to-Equity Ratio | 1.34 | 0.47 | 0.95 | 0.83 | 0.15 | 0.26 | 0.25 | 0.62 | 0.85 | 1.04 | 1.50 |
| Equity-to-Assets Ratio | 0.43 | 0.42 | 0.45 | 0.55 | 0.72 | 0.64 | 0.64 | 0.52 | 0.43 | 0.39 | 0.34 |
Note: (*) The Company calculates the quick ratio as (Current Assets – Inventories – Other Current Assets) / Current Liabilities, as it believes that the tax refund process may be prolonged and the timing of the refund remains uncertain.
Cashflow statement
| CASH FLOW STATEMENT | |||||||||
| ITEMS (VND billion) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
| Net cash from operating activities | (292.1) | 677.1 | -23 | 212 | 290 | 443 | 171 | 248 | 306 |
| Net cash (used in)from investing activities | (83.6) | -1,260.2 | -812 | -351 | 30 | 41 | -35 | -113 | -27 |
| Net cash from(used in) financing activities | 328.2 | 580.1 | 709 | 10 | -50 | -539 | -139 | -99 | -249 |
| Net increase in cash and cash equivalents | (47.5) | -2.9 | -125 | -130 | 271 | -55 | -3 | 36 | 30 |
| Cash and cash equivalents at beginning of year | 105.6 | 109.5 | 235 | 366 | 95 | 150 | 153 | 117 | 87 |
| Cash and cash equivalents at end of year | 57.9 | 105.6 | 109 | 235 | 366 | 95 | 150 | 153 | 117 |
Income statement
| INCOME STATEMENT | ||||||||||
| ITEMS (VND billion) | 1H2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
| Net Revenue from Sales | 663.086 | 1.352,9 | 1.210,3 | 1.425 | 2.115 | 2.042 | 1.766 | 2.229 | 2.408 | 1.989 |
| Gross Profit from Sales | 81.88 | 273,3 | 161,2 | 191,8 | 373 | 374 | 255 | 354 | 335 | 217 |
| Operating Profit | -63.96 | 99,9 | 57 | 88,7 | 270 | 285 | 162,9 | 248 | 202 | 104 |
| Total Profit Before Tax | -67.41 | 93,9 | 52,4 | 90,5 | 269 | 286 | 163,4 | 253 | 199 | 105 |
| Profit After Corporate Income Tax | -75.57 | 49,9 | 45,6 | 87,3 | 242 | 278 | 143,4 | 214 | 178 | 100 |
| Earnings per Share (VND) | -490 | 357 | 473,8 | 1.003 | 3.341 | 4.084 | 2.028 | 3.163 | 2.976 | 1.662 |
Balance sheet
| BALANCE SHEET | ||||||||||
| VND billion | 1H2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
| A. CURRENT ASSETS | 1.209 | 1.326 | 991 | 1.396 | 1.199 | 986 | 634 | 880 | 804 | 613 |
| B. NON-CURRENT ASSETS | 2.718 | 2.829 | 2.848 | 1.578 | 925 | 985 | 1070 | 1192 | 1315 | 1365 |
| TOTAL ASSETS | 3.927 | 4.155 | 3.839 | 2.974 | 2.125 | 1971 | 1703 | 2071 | 2119 | 1979 |
| C. LIABILITIES | 2.245 | 2.397 | 2.098 | 1.345 | 584 | 712 | 621 | 988 | 1210 | 1200 |
| D. SHAREHOLDERS’ EQUITY | 1.682 | 1.757 | 1.741 | 1.629 | 1.541 | 1259 | 1082 | 1083 | 909 | 779 |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 3.927 | 4.155 | 3.839 | 2.974 | 2.125 | 1971 | 1703 | 2071 | 2119 | 1979 |
Budget performance
| BUDGET PERFORMANCE | |||||||||
| Fiscal year | Revenue (VNDbn.) | NPBT (VNDbn.) | NPAT (VNDbn.) | ||||||
| Budget | Actual | % Actual/ budget | Budget | Actual | % Actual/ budget | Budget | Actual | % Actual/ budget | |
| 2025 | 3,270 | 1,352.9 | 41.4% | 352 | 93.3 | 26.6% | 310 | 49.9 | 16.1% |
| 2024 | 2,703.5 | 1,210.3 | 44.8% | 331.8 | 52.4 | 15.8% | 300.6 | 45.6 | 15.2% |
| 2023 | 2,149.3 | 1,425.1 | 66.3% | 287.5 | 91.0 | 31.7% | 253.1 | 87.8 | 34.7% |
| 2022 | 2,606 | 2,115 | 81% | 340 | 270 | 79% | 300 | 240 | 80% |
| 2021 | 2,357 | 2,042 | 87% | 286 | 286 | 100% | 248 | 278 | 112% |
| 2020 | 1,798 | 1,766 | 98% | 146 | 163 | 112% | 130 | 143 | 110% |
| 2019 | 2,603 | 2,229 | 86% | 212 | 253 | 119% | 200 | 214 | 107% |
| 2018 | 2,354 | 2,408 | 102% | 131 | 199 | 152% | 126 | 180 | 143% |
| 2017 | 1,915 | 1,991 | 104% | 92 | 105 | 115% | 82 | 100 | 114% |
| 2016 | 1,645 | 1,358 | 83% | 139 | 31 | 22% | 127 | 29 | 23% |
| 2015 | 1,695 | 1,035 | 61% | 149 | 87 | 58% | 116 | 71 | 61% |
