The financial statements of GSP

Income statement, balance sheet and cash flow, by quarter and by year. Unit: VND billion, unless a line states otherwise.

Item	2025	2024	2023	2022	2021
Revenue	3,584.8	2,247.0	1,765.2	1,844.8	1,631.6
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	3,584.8	2,247.0	1,765.2	1,844.8	1,631.6
Cost of Goods Sold	3,407.0	2,056.4	1,611.3	1,679.8	0.0
Gross Profit	177.8	190.6	153.9	165.0	105.9
Financial Income	26.7	27.3	22.3	20.2	13.7
Financial Expenses	46.0	35.8	39.4	36.2	-9.9
Interest Expense	34.3	28.1	35.5	26.5	-9.2
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	-0.0
Selling Expenses	2.1	5.5	4.8	4.7	-5.2
General and Administrative Expenses	69.8	68.7	50.2	52.4	-36.8
Operating Profit	86.5	107.8	81.9	91.8	67.7
Other Income	35.3	19.2	23.8	10.6	0.0
Other Expenses	0.0	1.0	0.0	0.5	0.0
Other Profit	35.3	18.3	23.8	10.1	2.6
Profit Before Tax	121.8	126.1	105.7	101.9	70.3
Current Income Tax Expense	24.9	28.4	21.0	20.7	-14.3
Deferred Income Tax Expense	—	-2.9	0.0	0.0	0.0
Net Income	96.9	100.7	84.7	81.2	56.0
Non-controlling Interest	—	0.0	0.0	0.0	-0.0
Profit Attributable to Parent	96.9	100.7	84.7	81.2	56.0
Earnings per Share VND per share	1,302.00	1,507.00	1,411.00	1,379.00	1,489.00
Diluted EPS VND per share	1,435.52	1,640.10	1,517.72	1,455.22	1,004.41

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	817.4	626.7	653.9	507.1	549.9
I. Cash and cash equivalents	197.1	129.2	182.2	89.6	139.6
1. Cash	137.1	53.8	75.2	49.6	0.0
2. Cash equivalents	60.0	75.4	107.0	40.0	0.0
II. Short-term financial investments	73.0	167.0	108.0	188.0	0.0
1. Available for sale securities	—	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	0.0	0.0	0.0	0.0
3. Held to maturity investments	73.0	167.0	108.0	188.0	0.0
III. Short-term receivables	400.4	192.7	255.6	142.2	191.1
1. Short-term trade accounts receivable	350.8	171.1	226.8	133.8	0.0
2. Short-term prepayments to suppliers	44.8	4.9	10.2	2.1	0.0
3. Short-term inter-company receivables	—	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	0.0	0.0	0.0	0.0
5. Short-term loan receivables	—	0.0	0.0	0.0	0.0
6. Other short-term receivables	4.7	16.6	18.5	6.3	0.0
7. Provision for short-term doubtful debts (*)	—	0.0	0.0	0.0	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	45.4	40.6	47.3	26.8	21.9
1. Inventories	45.4	40.6	47.3	26.8	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	101.5	97.3	60.8	60.5	44.3
1. Short-term prepayments	4.7	5.4	4.8	4.4	0.0
2. Value added tax to be reclaimed	96.8	91.9	56.0	56.1	0.0
3. Taxes and other receivables from state authorities	—	0.0	0.0	0.0	0.0
4. Government bonds	—	0.0	0.0	0.0	0.0
5. Other short-term assets	—	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	1,215.1	1,065.6	867.6	986.9	756.5
I. Long-term receivables	0.1	1.6	1.5	1.3	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	1.3
2. Long-term prepayments to suppliers	—	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	0.0	0.0	0.0	0.0
6. Other long-term receivables	0.1	1.6	1.5	1.3	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	1,211.4	1,059.9	864.5	982.9	755.2
1. Tangible fixed assets	1,211.2	1,059.8	864.3	982.9	755.2
- Cost	2,124.1	1,793.2	1,468.4	1,468.0	0.0
- Accumulated depreciation	-913.0	-733.4	-604.1	-485.0	0.0
2. Financial leased fixed assets	—	0.0	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0	0.0
3. Intangible fixed assets	0.2	0.1	0.2	0.0	0.0
- Cost	0.8	0.6	0.6	0.4	0.0
- Accumulated depreciation	-0.6	-0.5	-0.4	-0.4	0.0
III. Investment properties	—	0.0	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	0.1	0.1	0.0	0.0	0.0
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	0.1	0.1	0.0	0.0	0.0
V. Long-term financial investments	—	0.0	0.0	0.0	0.0
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	—	0.0	0.0	0.0	0.0
3. Investments in other entities	—	0.0	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	—	0.0	0.0	0.0	0.0
5. Held to maturity investments	—	0.0	0.0	0.0	0.0
6. Other long-term investments	—	0.0	0.0	0.0	0.0
VI. Other long-term assets	3.6	4.0	1.7	2.6	0.0
1. Long-term prepayments	0.6	1.1	1.7	2.6	0.0
2. Deferred income tax assets	2.9	2.9	0.0	0.0	0.0
3. Long-term equipment, supplies, spare parts	—	0.0	0.0	0.0	0.0
4. Other long-term assets	—	0.0	0.0	0.0	0.0
5. Goodwill	—	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	2,032.5	1,692.3	1,521.5	1,493.9	1,306.4
A. LIABILITIES (300=210+330)	1,122.8	839.5	762.5	758.1	648.8
I. Short -term liabilities	653.1	444.9	461.2	329.5	336.8
1. Short-term trade accounts payable	393.0	189.3	271.3	133.8	166.6
2. Short-term advances from customers	1.4	0.9	19.7	0.2	0.0
3. Taxes and other payables to state authorities	11.6	6.5	4.4	12.3	0.0
4. Payable to employees	42.0	32.0	27.5	17.2	0.0
5. Short-term acrrued expenses	6.5	40.7	4.7	10.8	0.0
6. Short-term inter-company payables	—	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	0.1	14.5	7.4	17.4	12.1
9. Other short-term payables	2.8	2.2	2.0	1.0	0.0
10. Short-term borrowings and financial leases	126.5	112.9	88.6	124.0	89.5
11. Provision for short-term liabilities	65.2	43.8	32.9	11.5	0.0
12.. Bonus and welfare fund	4.0	2.2	2.7	1.2	0.0
13. Price stabilization fund	—	0.0	0.0	0.0	0.0
14. Government bonds	—	0.0	0.0	0.0	0.0
II. Long-term liabilities	469.7	394.6	301.3	428.6	312.1
1. Long-term trade payables	—	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	0.0	0.0	0.0	0.0
7. Other long-term liabilities	—	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	462.2	380.9	295.8	410.3	309.6
9. Convertible bonds	—	0.0	0.0	0.0	0.0
10. Preferred stock (Debts) VND per share	—	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	7.5	13.7	5.5	18.4	0.0
13. Fund for technology development	—	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	909.7	852.8	759.0	735.8	657.6
I. Owner's equity	909.7	852.8	759.0	735.8	0.0
1. Owner's capital	675.2	613.8	558.0	558.0	657.6
- Common stock with voting right VND per share	675,170,500,000.00	613,792,650,000.00	557,994,450,000.00	557,994,450,000.00	557,994,450,000.00
- Preferred stock VND per share	—	0.00	0.00	0.00	0.00
2. Share premium	—	0.0	0.0	0.0	0.0
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	—	0.0	0.0	1.7	0.0
5. Treasury shares VND per share	—	0.00	0.00	0.00	0.00
6. Assets revaluation differences	—	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	0.0	0.0	0.0	0.0
8. Investment and development fund	137.6	137.6	113.9	39.1	0.0
9. Fund to support corporate restructuring	—	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	—	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	96.9	101.4	87.1	137.0	58.8
- Accumulated retained earning at the end of the previous period	0.0	0.7	2.5	55.8	2.7
- Undistributed earnings in this period	96.9	100.7	84.7	81.2	56.0
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	—	0.0	0.0	0.0	0.0
14. Financial reserves	—	0.0	0.0	0.0	0.0
II. Other resources and funds	—	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	2,032.5	1,692.3	1,521.5	1,493.9	1,306.4

Item	2025	2024	2023	2022	2021
Profit Before Tax	121.8	126.1	105.7	101.9	70.3
Depreciation of Fixed Assets and Investment Property	179.6	129.3	119.1	93.4	62.9
Provision (Increase)/Reversal	15.3	19.0	40.9	26.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	0.4	2.0	0.6	3.6	0.0
Gain/Loss from Investment Activities	-8.9	-13.8	-14.0	-10.7	0.0
Interest Expense	34.3	28.1	35.5	26.5	0.0
Gain/Loss on Disposal of Fixed Assets	—	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	0.0	0.0	0.0	0.0
Other Adjustments	—	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	342.5	290.8	287.8	240.6	167.7
Increase/(Decrease) in Receivables	-213.0	27.1	-114.1	27.5	0.0
Increase/(Decrease) in Inventory	-4.9	6.8	-20.6	-4.8	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	205.7	-54.0	153.4	-10.3	0.0
Increase/(Decrease) in Prepaid Expenses	1.1	-0.0	0.6	-2.8	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-34.5	-28.1	-36.6	-22.4	0.0
Corporate Income Tax Paid	-20.6	-26.3	-28.9	-10.8	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-7.5	-7.3	-36.6	-34.5	0.0
Net Cash Flow from Operating Activities	268.8	209.1	205.0	182.5	54.5
Payments for Fixed Assets and Other Long-term Assets	-369.4	-324.8	-0.6	-336.2	-336.7
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	-140.0	-292.0	-81.9	-140.0	-133.0
Receipts from Loan Repayments and Sale of Debt Instruments	234.0	233.0	161.9	105.0	157.5
Investments in Other Entities	—	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	10.6	13.9	15.0	8.3	0.0
Increase/(Decrease) in Term Deposits	—	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	0.0	0.0	0.0	0.0
Other Investing Receipts	—	0.0	0.0	0.0	0.0
Other Investing Payments	—	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	-264.7	-369.8	94.3	-362.9	-302.6
Proceeds from Equity Issuance and Capital Contributions VND per share	—	0.00	0.00	0.00	197,994,450,000.00
Share Repurchases VND per share	—	0.00	0.00	0.00	0.00
Proceeds from Borrowings	223.4	204.4	0.0	228.9	230.0
Repayment of Borrowings	-128.6	-96.5	-150.6	-98.4	-65.1
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-30.7	0.0	-55.8	0.0	-54.0
Other Financing Receipts	—	0.0	0.0	0.0	0.0
Other Financing Payments	—	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	64.1	107.9	-206.4	130.5	308.9
Net Cash Flow During the Period	68.2	-52.9	92.9	-49.9	66.3
Cash and Cash Equivalents at Beginning of Period	129.2	182.2	89.6	139.6	78.8
FX Difference from Revaluation	-0.3	-0.1	-0.3	-0.1	-0.0
Cash and Cash Equivalents at End of Period	197.1	129.2	182.2	89.6	139.6

Item	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	1,488.2	713.5	797.5	837.8	1,475.4	474.0	565.2	606.4	639.8	435.9	490.8	403.8
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.3	0.0	0.0	0.0
Net Revenue	1,488.2	713.5	797.5	837.8	1,475.4	474.0	565.2	606.4	639.5	435.9	490.8	403.8
Cost of Goods Sold	1,435.1	682.7	729.1	825.2	1,431.5	418.3	529.1	560.6	588.0	378.8	472.2	356.9
Gross Profit	53.0	30.9	68.3	12.6	44.0	55.7	36.1	45.8	51.5	57.1	18.7	46.9
Financial Income	2.2	4.7	4.3	8.3	8.0	6.1	8.0	6.3	8.1	6.0	5.5	5.0
Financial Expenses	14.3	11.0	10.5	14.1	11.8	9.6	11.4	7.6	7.9	10.1	9.1	8.9
Interest Expense	10.9	9.2	9.3	9.9	7.6	7.6	8.2	6.5	5.9	7.5	7.5	8.2
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	0.2	0.3	0.2	1.1	0.6	0.2	2.7	1.1	1.0	0.7	1.1	2.0
General and Administrative Expenses	19.5	16.9	20.5	20.6	16.3	14.5	23.4	14.9	14.3	16.1	10.8	14.9
Operating Profit	21.1	7.4	41.4	-14.8	23.2	37.5	6.5	28.5	36.3	36.2	3.1	26.1
Other Income	-2.6	25.9	6.7	18.4	10.7	-0.5	9.7	6.8	2.8	0.0	18.7	1.8
Other Expenses	0.0	0.5	0.0	0.0	—	0.0	0.0	0.8	0.2	0.0	0.0	0.0
Other Profit	-2.6	25.4	6.7	18.4	10.7	-0.5	9.7	6.0	2.6	-0.0	18.7	1.8
Profit Before Tax	18.5	32.8	48.1	3.5	33.9	37.0	16.3	34.5	39.0	36.2	21.8	28.0
Current Income Tax Expense	3.9	6.5	9.9	0.7	3.5	7.4	6.2	6.9	7.9	7.4	4.2	5.6
Deferred Income Tax Expense	—	—	—	—	2.9	0.0	-2.9	0.0	0.0	0.0	0.0	0.0
Net Income	14.6	26.4	38.2	2.9	27.4	29.6	13.1	27.6	31.0	28.8	17.6	22.4
Non-controlling Interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	14.6	26.4	38.2	2.9	27.4	29.6	13.1	27.6	31.0	28.8	17.6	22.4
Earnings per Share VND per share	112.00	391.00	566.00	42.00	295.00	483.00	212.00	450.00	556.00	517.00	316.00	401.00
Diluted EPS VND per share	216.00	390.58	565.63	42.25	447.07	482.72	212.65	449.86	556.38	516.67	315.59	401.07

Item	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	805.6	758.3	811.6	826.4	1,560.3	683.0	624.5	769.8	742.6	771.2	651.5	564.5
I. Cash and cash equivalents	72.6	142.6	197.1	116.4	111.9	183.4	129.4	168.6	202.3	252.6	182.2	161.1
1. Cash	67.6	117.6	137.1	46.4	56.9	103.0	54.0	113.6	63.3	56.6	75.2	46.1
2. Cash equivalents	5.0	25.0	60.0	70.0	55.0	80.4	75.4	55.0	139.0	196.0	107.0	115.0
II. Short-term financial investments	128.0	108.0	73.0	62.0	129.0	129.0	167.0	238.0	208.0	143.0	108.0	139.9
1. Available for sale securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Held to maturity investments	128.0	108.0	73.0	62.0	129.0	129.0	167.0	238.0	208.0	143.0	108.0	139.9
III. Short-term receivables	421.0	357.6	394.5	502.8	1,175.5	238.0	190.3	256.7	228.8	286.1	253.2	176.2
1. Short-term trade accounts receivable	264.7	289.1	351.3	490.7	1,164.8	223.7	159.5	233.6	191.6	255.0	224.5	164.7
2. Short-term prepayments to suppliers	141.1	44.0	39.8	2.2	3.3	1.9	4.9	3.1	22.9	16.0	10.2	7.2
3. Short-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Short-term loan receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other short-term receivables	15.1	24.5	3.4	9.9	7.4	12.4	25.8	20.1	14.3	15.2	18.5	4.3
7. Provision for short-term doubtful debts (*)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	75.8	48.3	45.4	44.6	44.8	30.4	40.6	40.8	44.5	29.8	47.3	28.7
1. Inventories	75.8	48.3	45.4	44.6	44.8	30.4	40.6	40.8	44.5	29.8	47.3	28.7
2. Provision for decline in value of inventories	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
V. Other short-term assets	108.3	101.9	101.5	100.5	99.1	102.1	97.3	65.7	59.0	59.7	60.8	58.6
1. Short-term prepayments	9.1	4.0	4.7	3.6	5.0	9.4	5.4	8.5	2.6	3.3	4.8	3.7
2. Value added tax to be reclaimed	99.1	97.9	96.8	96.9	94.0	92.8	91.9	57.2	56.4	56.3	56.0	54.8
3. Taxes and other receivables from state authorities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Government bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Other short-term assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	1,523.8	1,166.5	1,222.3	1,266.4	1,308.6	1,025.4	1,065.6	1,100.9	814.1	837.6	867.6	895.9
I. Long-term receivables	1.5	0.1	1.4	1.5	1.6	1.6	1.6	1.5	1.5	1.5	1.5	1.5
1. Long-term trade receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	1.5	0.1	1.4	1.5	1.6	1.6	1.6	1.5	1.5	1.5	1.5	1.5
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	1,512.0	1,162.5	1,211.4	1,258.8	1,304.0	1,019.4	1,059.9	1,097.7	805.0	834.7	864.5	893.6
1. Tangible fixed assets	1,511.8	1,162.3	1,211.2	1,258.7	1,303.9	1,019.3	1,059.8	1,097.5	804.8	834.5	864.3	893.6
- Cost	2,526.2	2,124.1	—	—	—	1,793.2	1,793.2	1,793.0	1,468.5	1,468.4	1,468.4	1,468.0
- Accumulated depreciation	-1,014.4	-961.8	—	—	—	-773.9	-733.4	-695.5	-663.7	-633.9	-604.1	-574.3
2. Financial leased fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.1	0.2	0.2	0.2	0.0
- Cost	0.8	0.8	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-0.6	-0.6	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	—	0.4	6.0	2.3	2.1	0.5	0.1	0.3	6.3	0.0	0.0	0.0
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	—	0.4	6.0	2.3	2.1	0.5	0.1	0.3	6.3	0.0	0.0	0.0
V. Long-term financial investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Investments in other entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Held to maturity investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VI. Other long-term assets	10.4	3.4	3.6	3.8	1.0	3.9	4.0	1.4	1.3	1.4	1.7	0.8
1. Long-term prepayments	7.5	0.5	0.6	0.8	1.0	1.0	1.1	1.4	1.3	1.4	1.7	0.8
2. Deferred income tax assets	2.9	2.9	2.9	2.9	—	2.9	2.9	0.0	0.0	0.0	0.0	0.0
3. Long-term equipment, supplies, spare parts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other long-term assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Goodwill	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	2,329.5	1,924.8	2,033.9	2,092.7	2,868.9	1,708.3	1,690.1	1,870.7	1,556.6	1,608.8	1,519.1	1,460.4
A. LIABILITIES (300=210+330)	1,385.8	988.7	1,123.7	1,220.7	1,968.4	825.9	837.4	1,030.9	800.4	820.9	760.0	718.9
I. Short -term liabilities	753.3	550.6	653.6	713.9	1,420.6	445.3	442.8	608.1	542.3	553.5	458.7	383.7
1. Short-term trade accounts payable	341.8	312.5	393.0	432.1	1,139.0	214.6	187.1	322.5	247.9	362.8	271.3	109.3
2. Short-term advances from customers	139.0	0.8	1.9	4.0	27.1	0.1	0.9	0.2	0.1	0.1	17.3	0.0
3. Dividends and profits payable	0.0	0.0	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	4.4	6.0	11.1	4.0	3.6	7.1	6.5	36.4	7.9	7.3	4.4	12.5
4. Payable to employees	35.9	29.7	42.0	43.3	37.4	31.8	32.0	47.6	43.4	30.2	27.5	45.1
5. Short-term acrrued expenses	12.0	8.1	6.5	12.3	12.6	13.7	40.7	11.5	23.6	3.9	4.7	13.6
6. Short-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	0.1	0.1	0.1	5.0	—	6.8	14.5	7.8	8.0	19.2	7.4	18.0
9. Other short-term payables	4.1	3.7	2.8	2.4	2.1	1.9	2.2	2.0	57.4	2.0	2.0	38.9
10. Short-term borrowings and financial leases	157.8	126.7	126.1	117.8	116.2	106.9	112.9	118.1	89.6	89.1	88.6	88.6
11. Provision for short-term liabilities	48.2	59.2	66.1	84.0	72.4	60.3	43.8	56.1	57.1	37.4	32.9	54.7
12.. Bonus and welfare fund	9.8	3.9	4.0	9.1	10.2	1.9	2.2	5.9	7.3	1.4	2.7	2.9
13. Price stabilization fund	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Government bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Long-term liabilities	632.6	438.1	470.1	506.8	547.7	380.5	394.6	422.9	258.1	267.5	301.3	335.3
1. Long-term trade payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Other long-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	625.0	430.5	462.6	489.2	520.3	357.2	380.9	404.6	243.6	267.5	295.8	318.0
9. Convertible bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Preferred stock (Debts) VND per share	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	7.5	7.5	7.5	17.5	27.4	23.3	13.7	18.3	14.5	0.0	5.5	17.2
13. Fund for technology development	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	943.7	936.1	910.3	872.1	900.5	882.4	852.8	839.7	756.2	787.9	759.1	741.5
I. Owner's equity	943.7	936.1	910.3	872.1	900.5	882.4	852.8	839.7	756.2	787.9	759.1	741.5
1. Owner's capital	675.2	675.2	675.2	675.2	613.8	613.8	613.8	613.8	558.0	558.0	558.0	558.0
- Common stock with voting right VND per share	675,170,500,000.00	675,170,500,000.00	675,170,500,000.00	675,170,500,000.00	613,792,650,000.00	613,792,650,000.00	613,792,650,000.00	613,792,650,000.00	557,994,450,000.00	557,994,450,000.00	557,994,450,000.00	557,994,450,000.00
- Preferred stock VND per share	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Treasury shares VND per share	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
6. Assets revaluation differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	157.6	137.6	137.6	137.6	137.6	137.6	137.6	137.6	137.6	113.9	113.9	113.9
9. Fund to support corporate restructuring	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	110.9	123.3	97.5	59.3	149.1	131.0	101.4	88.3	60.6	116.0	87.2	69.6
- Accumulated retained earning at the end of the previous period	69.9	96.9	0.0	0.0	92.1	101.4	0.7	0.7	0.7	87.1	2.5	2.5
- Undistributed earnings in this period	41.0	26.4	97.5	59.3	57.1	29.6	100.6	87.6	59.9	28.8	84.8	67.2
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Financial reserves	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Other resources and funds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	2,329.5	1,924.8	2,033.9	2,092.7	2,868.9	1,708.3	1,690.1	1,870.7	1,556.6	1,608.8	1,519.1	1,460.4

Item	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Profit Before Tax	18.5	32.8	48.1	3.5	33.1	37.0	16.3	34.5	39.1	36.2	21.7	28.0
Depreciation of Fixed Assets and Investment Property	52.7	48.9	48.8	48.7	41.7	40.5	37.9	31.8	29.8	29.8	29.8	29.8
Provision (Increase)/Reversal	16.9	-0.1	-43.8	17.7	18.2	23.2	-16.9	9.1	17.3	9.5	-1.5	7.8
FX Gain/Loss from Revaluation of Monetary Items	0.1	-0.8	-0.1	0.3	-2.3	2.5	0.7	-1.4	0.5	1.6	0.5	1.0
Gain/Loss from Investment Activities	-1.9	-1.7	-1.5	-2.3	-2.4	-2.7	-15.3	-17.4	-11.2	4.6	-3.3	-3.8
Interest Expense	10.9	9.2	9.3	9.9	7.6	7.6	2.6	12.1	5.9	7.5	7.5	8.2
Gain/Loss on Disposal of Fixed Assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Adjustments	-0.7	0.2	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	96.4	88.5	60.7	77.9	95.8	108.1	25.3	68.7	81.3	89.2	54.6	70.9
Increase/(Decrease) in Receivables	-106.3	44.5	114.6	630.3	-913.7	-44.2	32.4	-50.4	75.0	-30.1	-79.7	-52.2
Increase/(Decrease) in Inventory	-29.3	-3.1	-0.9	0.2	-14.4	10.2	0.3	3.7	-14.7	17.5	-18.6	-2.6
Increase/(Decrease) in Payables (Excl. Interest and CIT)	192.6	-98.0	-8.6	-698.1	924.2	-11.8	-143.6	100.4	-110.1	85.8	145.4	42.3
Increase/(Decrease) in Prepaid Expenses	-12.1	0.8	-0.9	3.0	2.9	-3.9	3.5	-4.5	-0.7	1.7	-1.9	2.7
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-9.4	-9.2	-9.3	-9.9	-7.1	-8.1	-3.4	-11.5	-11.2	-2.8	-7.6	-8.0
Corporate Income Tax Paid	-6.0	-10.9	-3.4	-3.6	-7.1	-6.5	-4.1	-10.8	-7.3	-4.2	-11.7	-4.8
Other Operating Receipts	—	—	—	—	—	0.0	0.3	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-1.1	-1.1	-2.7	-3.4	-0.2	-1.2	-5.5	-1.9	15.8	-18.1	-32.2	-1.0
Net Cash Flow from Operating Activities	124.8	11.3	149.5	-3.6	80.3	42.6	-94.9	93.8	28.2	139.1	48.2	47.2
Payments for Fixed Assets and Other Long-term Assets	-401.7	-0.4	-40.7	-2.4	-326.3	0.0	7.5	-302.7	-0.2	0.0	-0.6	0.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	46.9
Loans and Purchases of Debt Instruments	-45.0	-35.0	-25.0	-23.0	-25.0	-67.0	-14.0	-128.0	-90.0	-60.0	0.0	-81.9
Receipts from Loan Repayments and Sale of Debt Instruments	25.0	—	14.0	90.0	25.0	105.0	85.0	83.0	40.0	25.0	31.9	85.0
Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	1.7	0.4	1.5	3.5	2.1	3.5	6.9	14.5	1.1	4.7	2.8	7.0
Increase/(Decrease) in Term Deposits	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	-420.0	-35.0	-50.2	68.2	-324.2	41.5	85.4	-333.2	-49.2	-30.3	34.1	57.0
Proceeds from Equity Issuance and Capital Contributions VND per share	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Share Repurchases VND per share	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Proceeds from Borrowings	265.5	—	5.0	0.0	218.4	0.0	0.0	204.4	0.0	0.0	0.0	114.7
Repayment of Borrowings	-39.8	-31.5	-23.3	-29.3	-46.4	-29.7	-29.7	-14.0	-14.2	-38.6	-22.0	-128.5
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	—	—	0.0	-30.7	—	0.0	0.0	0.0	0.0	0.0	-38.8	-17.0
Other Financing Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Financing Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	225.6	-31.5	-18.3	-60.0	172.0	-29.7	-29.7	190.4	-14.2	-38.6	-60.9	-30.8
Net Cash Flow During the Period	-69.6	-55.2	81.0	4.6	-71.8	54.5	-39.1	-49.0	-35.2	70.3	21.4	73.4
Cash and Cash Equivalents at Beginning of Period	142.6	197.1	116.4	111.9	183.4	129.2	182.2	182.2	182.2	182.2	89.6	89.6
FX Difference from Revaluation	-0.4	0.7	-0.3	-0.0	0.1	-0.2	-0.0	0.3	-0.2	0.2	-0.3	-0.0
Cash and Cash Equivalents at End of Period	72.6	142.6	197.1	116.4	111.9	183.4	129.4	168.6	217.3	252.6	182.2	161.1

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Where does this stock standamong the rest of your investments?

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Where does this stock stand
among the rest of your investments?

How much does this stock
contribute to the portfolio?

Is the portfolio
well balanced?

What other opportunities
or risks may be present?