The financial statements of GTS

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	2,463.8	1,501.9	1,288.3	1,319.7	1,242.5
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	2,463.8	1,501.9	1,288.3	1,319.7	1,242.5
Cost of Goods Sold	2,350.6	1,401.9	1,183.8	1,220.0	0.0
Gross Profit	113.2	100.0	104.5	99.7	95.8
Financial Income	7.4	3.1	4.0	1.8	2.8
Financial Expenses	0.0	0.1	0.0	0.0	-0.0
Interest Expense	0.0	0.1	0.0	0.0	-0.0
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	-0.0
Selling Expenses	—	0.0	0.0	0.0	-0.0
General and Administrative Expenses	63.7	53.6	76.1	70.5	-65.1
Operating Profit	57.0	49.4	32.4	31.1	33.4
Other Income	0.6	1.6	2.1	3.1	0.0
Other Expenses	0.5	0.5	0.5	0.4	0.0
Other Profit	0.1	1.1	1.6	2.7	0.5
Profit Before Tax	57.1	50.5	34.0	33.8	34.0
Current Income Tax Expense	11.5	10.1	6.8	6.8	-7.0
Deferred Income Tax Expense	—	0.0	0.0	0.0	0.0
Net Income	45.6	40.4	27.2	27.0	26.9
Non-controlling Interest	—	0.0	0.0	0.0	-0.0
Profit Attributable to Parent	45.6	40.4	27.2	27.0	26.9
Earnings per Share VND per share	1,644.00	1,604.00	807.00	811.00	844.00
Diluted EPS VND per share	1,644.00	1,604.00	807.00	811.00	945.01

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	1,178.3	885.0	939.4	841.5	690.1
I. Cash and cash equivalents	268.4	276.3	176.2	137.4	179.7
1. Cash	128.4	56.3	141.2	137.4	0.0
2. Cash equivalents	140.0	220.0	35.0	0.0	0.0
II. Short-term financial investments	0.8	0.8	0.7	0.7	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	0.8	0.8	0.7	0.7	0.0
III. Short-term receivables	756.8	484.7	721.7	618.2	408.4
1. Short-term trade accounts receivable	688.0	369.1	583.9	600.8	0.0
2. Short-term prepayments to suppliers	101.7	162.0	165.3	48.8	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	23.5	18.7	49.9	32.2	0.0
7. Provision for short-term doubtful debts (*)	-56.3	-65.2	-77.3	-63.7	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	127.2	98.2	39.6	80.1	101.8
1. Inventories	127.2	98.2	39.6	80.1	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	25.1	24.9	1.2	5.0	0.2
1. Short-term prepayments	—	0.0	0.0	0.0	0.0
2. Value added tax to be reclaimed	—	0.8	0.0	0.0	0.0
3. Taxes and other receivables from state authorities	25.1	24.1	1.2	5.0	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)	264.9	188.1	184.2	199.3	219.9
I. Long-term receivables	3.4	5.9	6.1	15.9	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	31.3
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	3.4	5.9	6.1	15.9	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	172.0	175.2	164.1	162.5	160.7
1. Tangible fixed assets	171.8	174.9	164.1	162.5	160.7
- Cost	396.2	383.6	365.2	355.2	0.0
- Accumulated depreciation	-224.4	-208.8	-201.1	-192.7	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	0.4	0.0	0.0	0.0
- Cost	1.2	1.2	0.8	0.8	0.0
- Accumulated depreciation	-1.0	-0.9	-0.8	-0.8	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	89.5	0.0	0.0	0.0	0.0
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	89.5	0.0	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	—	7.0	14.0	20.9	0.0
1. Long-term prepayments	—	7.0	14.0	20.9	0.0
2. Deferred income tax assets	—	0.0	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	27.9
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)	1,443.2	1,073.1	1,123.7	1,040.7	910.0
A. LIABILITIES (300=210+330)	1,089.1	737.7	800.6	729.1	587.4
I. Short -term liabilities	1,083.4	733.6	794.9	723.4	581.3
1. Short-term trade accounts payable	398.9	200.6	207.3	225.5	221.7
2. Short-term advances from customers	278.2	348.1	333.0	222.4	135.7
3. Taxes and other payables to state authorities	4.7	6.5	7.5	2.0	0.0
4. Payable to employees	44.9	38.8	41.5	34.1	0.0
5. Short-term acrrued expenses	—	0.0	0.0	0.0	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	95.4	0.0	0.0	0.0	0.0
9. Other short-term payables	236.0	128.6	196.0	230.6	0.0
10. Short-term borrowings and financial leases	—	0.0	0.0	0.0	0.0
11. Provision for short-term liabilities	18.1	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	7.3	11.1	9.6	8.7	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	5.7	4.1	5.6	5.8	6.1
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	—	0.0	0.0	0.0	0.0
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	—	0.0	0.0	0.0	0.0
13. Fund for technology development	5.7	4.1	5.6	5.8	0.0
14. Provision for severance allowances	—	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	354.0	335.3	323.1	311.6	322.6
I. Owner's equity	353.1	334.4	322.2	310.7	0.0
1. Owner's capital	285.0	285.0	285.0	285.0	321.7
- Common stock with voting right VND per share	284,997,640,000.00	284,997,640,000.00	284,997,640,000.00	284,997,640,000.00	284,997,640,000.00
- Preferred stock VND per share	—	0.00	0.00	0.00	0.00
2. Share premium	0.7	0.7	0.7	0.7	0.7
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	—	0.0	0.0	0.0	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	21.1	13.0	13.0	13.0	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	46.3	35.7	23.5	12.0	23.0
- Accumulated retained earning at the end of the previous period	0.7	0.3	0.3	0.2	0.2
- Undistributed earnings in this period	45.6	35.4	23.2	11.8	22.8
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	0.9	0.9	0.9	0.9	0.9
1. Subsidized not-for-profit funds	0.9	0.9	0.9	0.9	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)	1,443.2	1,073.1	1,123.7	1,040.7	910.0

Item	2025	2024	2023	2022	2021
Profit Before Tax	57.1	50.5	34.0	33.8	34.0
Depreciation of Fixed Assets and Investment Property	19.4	19.7	18.7	18.1	18.8
Provision (Increase)/Reversal	-8.8	-12.1	13.6	11.6	0.0
FX Gain/Loss from Revaluation of Monetary Items	—	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-7.4	-3.1	-4.8	-3.1	0.0
Interest Expense	0.0	0.1	0.0	0.0	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	1.6	-1.4	-0.2	-0.3	0.0
Operating Profit Before Changes in Working Capital	61.8	53.7	61.3	60.2	57.6
Increase/(Decrease) in Receivables	-303.3	218.5	-105.6	-210.8	0.0
Increase/(Decrease) in Inventory	-29.0	-62.3	40.5	21.4	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	402.7	-54.8	83.0	131.8	0.0
Increase/(Decrease) in Prepaid Expenses	7.0	6.2	7.0	7.0	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-0.0	-0.1	0.0	0.0	0.0
Corporate Income Tax Paid	-13.4	-7.4	-5.6	-6.6	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-6.2	-3.6	-3.6	-5.4	0.0
Net Cash Flow from Operating Activities	119.6	150.3	77.0	-2.4	48.1
Payments for Fixed Assets and Other Long-term Assets	-106.2	-30.8	-20.4	-19.9	-34.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.3	0.5	0.8	1.4	0.4
Loans and Purchases of Debt Instruments	-0.0	-0.0	-0.0	-0.7	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	0.0	0.0	0.0	0.0
Investments in Other Entities	-3.5	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	7.4	3.1	4.1	1.9	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	-102.0	-27.3	-15.5	-17.3	-30.8
Proceeds from Equity Issuance and Capital Contributions VND per share	—	0.00	0.00	0.00	0.00
Share Repurchases VND per share	—	0.00	0.00	0.00	0.00
Proceeds from Borrowings	7.6	17.1	0.0	0.0	0.0
Repayment of Borrowings	-7.6	-17.1	0.0	0.0	0.0
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-25.6	-22.8	-22.8	-22.5	-34.1
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	-25.6	-22.8	-22.8	-22.5	-34.1
Net Cash Flow During the Period	-8.0	100.2	38.7	-42.2	75.6
Cash and Cash Equivalents at Beginning of Period	276.3	176.2	137.4	179.7	196.5
FX Difference from Revaluation	—	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	268.4	276.3	176.2	137.4	179.7

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	529.1	212.1	1,388.9	526.6	427.6	129.9	918.8	206.2	344.2	32.7	728.5	131.6
Revenue Deductions	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	529.1	212.1	1,388.9	526.6	427.6	129.9	918.8	206.2	344.2	32.7	728.5	131.6
Cost of Goods Sold	488.4	206.2	1,345.8	496.1	391.0	125.9	865.2	198.0	307.9	31.4	665.4	127.3
Gross Profit	40.7	5.9	43.1	30.5	36.6	4.0	53.6	8.2	36.3	1.3	63.1	4.3
Financial Income	1.1	1.9	2.1	1.1	1.9	2.2	0.7	0.8	0.9	0.5	1.2	1.2
Financial Expenses	0.0	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Interest Expense	0.0	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Share of Associates and Joint Ventures	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
General and Administrative Expenses	28.6	1.7	21.3	15.5	24.4	2.3	31.4	3.4	25.8	1.4	47.6	2.0
Operating Profit	13.1	6.0	23.9	16.1	14.1	3.9	22.9	5.6	11.4	0.3	16.6	3.5
Other Income	1.4	0.0	0.3	0.1	0.0	0.2	0.2	0.4	0.2	0.8	0.5	0.6
Other Expenses	0.2	0.0	0.7	0.0	0.2	0.0	0.0	0.1	0.2	0.0	0.2	0.1
Other Profit	1.3	0.0	-0.4	0.1	-0.2	0.2	0.1	0.3	0.1	0.8	0.3	0.5
Profit Before Tax	14.3	6.1	23.5	16.2	13.8	4.1	23.0	5.9	11.5	1.2	17.0	4.0
Current Income Tax Expense	2.9	1.3	4.5	3.2	2.8	0.8	4.8	1.2	2.3	0.2	3.4	0.8
Deferred Income Tax Expense	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	11.5	4.8	19.1	12.9	11.1	3.3	18.2	4.7	9.2	0.9	13.6	3.2
Non-controlling Interest	—	—	—	—	—	—	0.1	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	11.5	4.8	19.1	12.9	11.1	3.3	18.1	4.7	9.2	0.9	13.6	3.2
Earnings per Share VND per share	402.00	167.00	669.00	454.00	389.00	115.00	635.00	166.00	322.00	32.00	476.00	111.00
Diluted EPS VND per share	401.99	167.50	668.61	454.18	388.54	114.54	635.49	165.84	322.19	32.41	475.97	111.29

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)	988.2	893.6	1,178.7	916.2	931.7	769.3	875.2	807.5	732.7	823.6	939.4	680.7
I. Cash and cash equivalents	158.4	214.8	268.4	242.3	291.9	194.2	276.3	87.7	181.7	210.1	176.2	107.4
1. Cash	103.4	84.8	128.4	62.3	136.9	34.2	56.3	63.7	43.7	57.1	141.2	24.4
2. Cash equivalents	55.0	130.0	140.0	180.0	155.0	160.0	220.0	24.0	138.0	153.0	35.0	83.0
II. Short-term financial investments	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.7	0.7	10.7
1. Available for sale securities	—	—	—	—	—	—	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
3. Held to maturity investments	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.7	0.7	10.7
III. Short-term receivables	432.7	363.5	757.2	371.5	350.7	334.8	475.4	375.2	388.4	456.6	721.7	383.9
1. Short-term trade accounts receivable	279.7	224.7	688.5	197.2	201.0	192.8	369.1	162.3	181.8	177.0	583.9	215.9
2. Short-term prepayments to suppliers	188.4	168.1	101.7	218.5	192.4	175.7	162.0	241.0	224.3	290.6	165.3	177.6
3. Short-term inter-company receivables	—	—	—	—	—	—	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
5. Short-term loan receivables	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
6. Other short-term receivables	21.0	27.0	23.3	20.2	21.7	31.4	18.7	49.7	59.6	66.3	49.8	53.6
7. Provision for short-term doubtful debts (*)	-56.3	-56.3	-56.3	-64.4	-64.4	-65.2	-74.5	-77.8	-77.3	-77.3	-77.3	-63.2
8. Assets awaiting resolution	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	347.6	251.6	127.2	254.2	242.8	189.5	97.8	293.9	139.5	124.1	39.6	162.3
1. Inventories	347.6	251.6	127.2	254.2	242.8	189.5	97.8	293.9	139.5	124.1	39.6	162.3
2. Provision for decline in value of inventories	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
V. Other short-term assets	48.6	62.9	25.1	47.5	45.5	50.0	24.9	49.9	22.4	32.1	1.2	16.4
1. Short-term prepayments	—	9.4	—	0.2	—	7.7	0.0	11.1	0.0	8.4	0.0	7.3
2. Value added tax to be reclaimed	0.3	1.3	—	0.3	—	0.3	0.8	0.0	0.0	0.2	0.2	0.0
3. Taxes and other receivables from state authorities	48.2	52.2	25.1	47.0	45.5	42.1	24.2	38.8	22.4	23.5	1.0	9.1
4. Government bonds	—	—	—	—	—	—	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
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	271.3	262.8	264.9	181.2	186.3	185.0	188.1	182.8	189.9	183.4	184.2	187.3
I. Long-term receivables	4.2	4.1	3.4	1.5	3.7	7.2	5.9	5.8	6.1	7.3	6.1	16.7
1. Long-term trade receivables	—	—	—	—	—	—	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
3. Capital at inter-company	—	—	—	—	—	—	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
5. Long-term loan receivables	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	4.2	4.1	3.4	1.5	3.7	7.2	5.9	5.8	6.1	7.3	6.1	16.7
7. Provision for long-term doubtful debts	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	266.9	173.3	172.0	177.0	178.4	172.6	175.2	168.4	173.4	163.9	164.1	154.9
1. Tangible fixed assets	266.7	173.1	171.8	176.8	178.1	172.2	174.9	168.0	172.9	163.4	164.1	154.9
- Cost	494.6	402.6	—	—	—	—	383.7	371.8	371.8	357.4	365.2	351.3
- Accumulated depreciation	-227.9	-229.5	—	—	—	—	-208.9	-203.8	-198.8	-194.0	-201.1	-196.4
2. Financial leased fixed assets	—	—	—	—	—	—	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
- Accumulated depreciation	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	0.2	0.2	0.2	0.3	0.3	0.3	0.4	0.4	0.4	0.5	0.0	0.0
- Cost	1.2	1.2	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-1.1	-1.0	—	—	—	—	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
- Cost	—	—	—	—	—	—	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
IV. Long-term assets in progress	0.2	85.4	89.5	1.0	0.7	—	0.0	0.0	0.0	0.0	0.0	0.0
1. Long-term production in progress	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	0.2	85.4	89.5	1.0	0.7	—	0.0	0.0	0.0	0.0	0.0	0.0
V. Long-term financial investments	—	—	—	—	—	—	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
2. Investments in associates, joint-ventures	—	—	—	—	—	—	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
4. Provision for diminution in value of long-term investments	—	—	—	—	—	—	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
6. Other long-term investments	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
VI. Other long-term assets	—	—	—	1.7	3.5	5.2	7.0	8.7	10.5	12.2	14.0	15.7
1. Long-term prepayments	—	—	—	1.7	3.5	5.2	7.0	8.7	10.5	12.2	14.0	15.7
2. Deferred income tax assets	—	—	—	—	—	—	0.0	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
4. Other long-term assets	—	—	—	—	—	—	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
VII. Goodwill (before 2015)	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	1,259.5	1,156.4	1,443.6	1,097.4	1,118.0	954.3	1,063.3	990.3	922.6	1,007.1	1,123.6	868.0
A. LIABILITIES (300=210+330)	897.7	805.4	1,088.8	761.7	795.2	615.7	735.7	675.5	612.3	683.0	800.5	554.4
I. Short -term liabilities	855.5	798.8	1,083.1	757.7	791.2	611.6	731.9	670.0	606.8	677.4	794.9	548.6
1. Short-term trade accounts payable	230.0	157.9	399.1	138.4	127.2	128.2	200.5	115.9	91.2	101.5	207.3	102.0
2. Short-term advances from customers	231.4	334.8	278.2	473.5	512.3	367.9	348.1	426.7	359.4	419.5	333.0	273.3
3. Dividends and profits payable	0.1	0.1	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	2.8	1.2	4.4	6.5	4.0	0.5	4.8	2.7	2.2	0.1	7.4	3.5
4. Payable to employees	12.2	1.4	44.6	16.3	6.4	0.7	38.8	8.8	6.0	0.6	41.5	0.6
5. Short-term acrrued expenses	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
6. Short-term inter-company payables	—	—	—	—	—	—	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
8. Short-term unearned revenue	170.8	159.3	95.4	1.0	1.0	1.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Other short-term payables	180.9	116.2	236.1	117.2	134.3	105.8	128.6	110.0	141.9	149.1	196.0	163.6
10. Short-term borrowings and financial leases	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
11. Provision for short-term liabilities	18.1	18.1	18.1	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	9.3	9.7	7.3	4.8	5.9	7.6	11.1	6.0	6.1	6.5	9.6	5.6
13. Price stabilization fund	—	—	—	—	—	—	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
II. Long-term liabilities	42.3	6.6	5.7	4.1	4.1	4.1	3.8	5.5	5.5	5.6	5.6	5.8
1. Long-term trade payables	—	—	—	—	—	—	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
3. Long-term acrrued expenses	—	—	—	—	—	—	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
5. Long-term inter-company payables	—	—	—	—	—	—	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
7. Other long-term liabilities	0.9	0.9	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	35.7	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
9. Convertible bonds	—	—	—	—	—	—	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
11. Deferred income tax liabilities	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
13. Fund for technology development	5.7	5.7	5.7	4.1	4.1	4.1	3.8	5.5	5.5	5.6	5.6	5.8
14. Provision for severance allowances	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	361.8	351.0	354.8	335.7	322.8	338.6	327.6	314.8	310.3	324.0	323.0	313.7
I. Owner's equity	361.8	351.0	353.8	334.8	321.8	337.7	326.7	313.9	309.4	323.1	322.1	312.7
1. Owner's capital	285.0	285.0	285.0	285.0	285.0	285.0	285.0	285.0	285.0	285.0	285.0	285.0
- Common stock with voting right VND per share	284,997,640,000.00	284,997,640,000.00	284,997,640,000.00	284,997,640,000.00	284,997,640,000.00	284,997,640,000.00	284,997,640,000.00	284,997,640,000.00	284,997,640,000.00	284,997,640,000.00	284,997,640,000.00	284,997,640,000.00
- Preferred stock VND per share	—	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	0.7	0.7	0.7	0.7	0.7	0.7	0.7	0.7	0.7	0.7	0.7	0.7
3. Convertible bond option	—	—	—	—	—	—	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
5. Treasury shares VND per share	—	—	—	—	—	—	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
7. Foreign exchange differences	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	21.1	21.1	21.1	21.1	21.1	13.0	13.0	13.0	13.0	13.0	13.0	13.0
9. Fund to support corporate restructuring	—	—	—	—	—	—	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
11. Undistributed earnings after tax	54.9	44.2	47.0	27.9	15.0	39.0	28.0	15.2	10.7	24.4	23.4	14.1
- Accumulated retained earning at the end of the previous period	38.3	39.0	0.7	0.7	0.7	35.7	0.3	0.6	0.6	23.5	0.3	0.5
- Undistributed earnings in this period	16.6	5.1	46.3	27.3	14.3	3.3	27.7	14.6	10.1	0.9	23.1	13.6
12. Reserves for investment in construction	—	—	—	—	—	—	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
14. Financial reserves	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
II. Other resources and funds	—	—	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9
1. Subsidized not-for-profit funds	—	—	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9
2. Funds invested in fixed assets	—	—	—	—	—	—	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
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	1,259.5	1,156.4	1,443.6	1,097.4	1,118.0	954.3	1,063.3	990.3	922.6	1,007.1	1,123.6	868.0

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	14.3	6.1	23.0	16.2	13.8	4.1	22.9	5.9	11.2	1.2	17.1	4.0
Depreciation of Fixed Assets and Investment Property	6.6	5.1	5.0	5.0	4.7	4.6	5.1	5.0	4.9	4.7	4.8	4.6
Provision (Increase)/Reversal	—	—	-8.1	0.0	-0.8	—	-3.3	0.0	0.5	0.0	14.1	0.0
FX Gain/Loss from Revaluation of Monetary Items	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-2.3	-1.9	-2.2	-1.2	-1.7	-2.4	-0.7	-2.0	-0.3	-1.3	-0.1	-2.2
Interest Expense	—	—	0.0	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Gain/Loss on Disposal of Fixed Assets	—	—	—	—	—	—	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
Amortization of Goodwill	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Other Adjustments	—	—	—	—	—	—	-1.7	-0.1	0.0	0.0	-0.2	0.0
Operating Profit Before Changes in Working Capital	18.6	9.3	19.4	20.0	16.1	6.3	22.3	8.8	16.3	4.6	35.6	6.3
Increase/(Decrease) in Receivables	-64.3	364.1	-399.3	-31.0	-4.1	131.1	-83.1	-0.7	68.1	241.4	-335.5	-161.9
Increase/(Decrease) in Inventory	-96.0	-124.4	126.9	10.5	-75.1	-91.3	196.1	-154.4	-15.3	-84.5	122.7	-72.6
Increase/(Decrease) in Payables (Excl. Interest and CIT)	55.1	-283.1	378.3	-26.1	166.9	-116.5	59.9	60.4	-70.2	-114.3	258.7	218.6
Increase/(Decrease) in Prepaid Expenses	—	-9.4	1.9	1.6	9.4	-5.9	12.8	-9.3	10.1	-6.6	9.1	-5.6
Changes in Trading Securities	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	—	—	-0.0	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Corporate Income Tax Paid	-1.3	-2.9	-6.2	-0.6	-0.3	-6.4	-2.9	-0.7	-0.3	-3.4	-3.2	-0.5
Other Operating Receipts	85.9	4.1	—	—	—	—	0.2	0.4	0.2	0.4	-1.3	1.3
Other Operating Payments	-0.9	-6.8	-3.7	2.3	-4.8	-0.0	-5.3	-0.1	-0.3	-0.0	-3.1	2.6
Net Cash Flow from Operating Activities	6.5	-49.1	117.0	-23.2	108.2	-82.4	200.0	-95.7	8.6	37.5	82.8	-11.6
Payments for Fixed Assets and Other Long-term Assets	-100.2	-6.4	-90.0	-2.9	-11.3	-2.0	-12.0	0.0	-14.4	-4.5	-14.0	-5.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.6	—	0.3	—	—	—	0.0	0.0	0.0	0.5	-0.0	-0.0
Loans and Purchases of Debt Instruments	-0.0	—	0.0	-0.0	-0.0	—	-0.0	0.7	-0.8	0.0	10.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Investments in Other Entities	—	—	—	—	—	—	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
Dividends and Interest Income Received	1.0	1.9	2.2	1.1	1.9	2.2	0.6	1.0	0.9	0.5	1.3	1.2
Increase/(Decrease) in Term Deposits	—	—	—	—	—	—	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
Other Investing Receipts	—	—	—	—	—	—	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
Net Cash Flow from Investing Activities	-98.5	-4.5	-91.0	-1.8	-9.4	0.2	-11.4	1.8	-14.2	-3.5	-2.7	-3.9
Proceeds from Equity Issuance and Capital Contributions VND per share	—	—	—	—	—	—	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
Proceeds from Borrowings	35.7	—	7.6	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Repayment of Borrowings	—	—	1.6	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Repayment of Finance Leases	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	—	—	0.0	-25.6	—	—	0.0	0.0	-22.8	-0.0	-11.4	0.0
Other Financing Receipts	—	—	—	—	—	—	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
Net Cash Flow from Financing Activities	35.7	—	0.0	-25.6	—	—	0.0	0.0	-22.8	-0.0	-11.4	0.0
Net Cash Flow During the Period	-56.4	-53.6	26.1	-50.6	98.8	-82.2	188.6	-93.9	-28.4	33.9	68.7	-15.5
Cash and Cash Equivalents at Beginning of Period	214.8	268.4	242.3	291.9	194.2	276.3	176.2	176.2	176.2	176.2	137.4	137.4
FX Difference from Revaluation	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	158.4	214.8	268.4	242.3	291.9	194.2	276.3	87.7	181.7	210.1	176.2	107.4

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Is the portfolio
well balanced?

What other opportunities
or risks may be present?