The financial statements of HMC

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	5,765.9	4,236.0	3,120.7	3,414.3	3,830.6
Revenue Deductions	1.4	0.5	1.2	2.8	0.0
Net Revenue	5,764.5	4,235.5	3,119.5	3,411.5	3,830.6
Cost of Goods Sold	5,621.7	4,143.1	3,036.7	3,337.6	0.0
Gross Profit	142.8	92.3	82.9	73.8	251.8
Financial Income	44.9	37.0	36.0	26.0	18.9
Financial Expenses	36.0	28.7	32.4	36.4	-5.8
Interest Expense	33.5	21.1	21.8	17.7	-10.9
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	-0.0
Selling Expenses	78.7	51.6	45.9	44.4	-56.3
General and Administrative Expenses	32.1	20.1	15.7	15.1	-32.5
Operating Profit	41.0	28.9	24.8	4.0	176.1
Other Income	0.7	1.1	1.0	1.6	0.0
Other Expenses	0.7	0.3	0.0	0.0	0.0
Other Profit	0.1	0.9	1.0	1.5	1.7
Profit Before Tax	41.0	29.8	25.8	5.5	177.8
Current Income Tax Expense	9.8	4.2	4.7	2.4	-35.7
Deferred Income Tax Expense	—	0.0	0.0	0.0	0.0
Net Income	31.2	25.6	21.1	3.1	142.1
Non-controlling Interest	—	0.0	0.0	0.0	-0.0
Profit Attributable to Parent	31.2	25.6	21.1	3.1	142.1
Earnings per Share VND per share	1,143.59	937.00	775.00	115.00	6,767.00
Diluted EPS VND per share	1,143.59	936.57	774.70	114.55	6,766.27

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	1,627.3	1,253.7	1,167.0	1,023.6	1,136.2
I. Cash and cash equivalents	65.2	96.6	19.9	51.3	20.8
1. Cash	65.2	96.6	19.9	41.3	0.0
2. Cash equivalents	—	0.0	0.0	10.0	0.0
II. Short-term financial investments	310.0	172.5	427.3	9.5	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	310.0	172.5	427.3	9.5	0.0
III. Short-term receivables	436.7	443.7	350.7	334.0	286.5
1. Short-term trade accounts receivable	476.4	470.6	339.5	350.0	0.0
2. Short-term prepayments to suppliers	1.3	8.5	54.5	25.7	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	12.4	17.6	11.7	15.9	0.0
7. Provision for short-term doubtful debts (*)	-53.4	-53.0	-55.0	-57.6	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	775.0	509.5	344.8	594.8	814.2
1. Inventories	813.3	548.4	384.5	689.6	0.0
2. Provision for decline in value of inventories	-38.3	-38.9	-39.8	-94.8	0.0
V. Other short-term assets	40.3	31.5	24.3	33.9	5.2
1. Short-term prepayments	0.5	0.4	0.4	0.4	0.0
2. Value added tax to be reclaimed	39.4	22.2	10.8	15.8	0.0
3. Taxes and other receivables from state authorities	0.3	8.9	13.1	17.7	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)	99.4	105.8	112.9	121.3	125.4
I. Long-term receivables	0.1	0.1	0.2	0.2	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	0.1
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	0.1	0.2	0.2	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	20.9	24.7	29.1	29.9	25.0
1. Tangible fixed assets	11.9	15.4	19.7	20.3	15.1
- Cost	79.6	79.6	79.6	75.8	0.0
- Accumulated depreciation	-67.7	-64.1	-59.9	-55.6	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	9.1	9.3	9.5	9.6	9.8
- Cost	12.3	12.3	12.3	12.3	0.0
- Accumulated depreciation	-3.3	-3.1	-2.9	-2.7	0.0
III. Investment properties	61.5	65.1	68.7	72.3	77.1
- Cost	145.5	145.5	145.5	145.5	0.0
- Accumulated depreciation	-84.0	-80.4	-76.8	-73.2	0.0
IV. Long-term assets in progress	0.0	0.0	0.0	0.7	0.2
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	0.0	0.0	0.0	0.7	0.0
V. Long-term financial investments	16.9	15.9	14.9	18.3	23.0
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	37.0	37.0	37.0	37.0	0.0
4. Provision for diminution in value of long-term investments	-20.1	-21.1	-22.1	-18.7	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	—	0.0	0.0	0.0	0.0
1. Long-term prepayments	—	0.0	0.0	0.0	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	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)	1,726.7	1,359.5	1,279.9	1,144.9	1,261.6
A. LIABILITIES (300=210+330)	1,311.8	955.3	876.2	762.3	777.4
I. Short -term liabilities	1,283.2	931.1	850.7	739.0	754.5
1. Short-term trade accounts payable	353.3	168.8	141.2	203.3	58.8
2. Short-term advances from customers	43.0	2.4	2.8	1.7	8.1
3. Taxes and other payables to state authorities	1.2	0.2	0.1	0.1	0.0
4. Payable to employees	19.7	11.6	16.9	8.6	0.0
5. Short-term acrrued expenses	5.7	3.2	3.8	2.3	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	1.8	1.8	1.8	1.8	0.1
9. Other short-term payables	3.0	3.0	150.6	47.8	0.0
10. Short-term borrowings and financial leases	854.4	738.6	530.7	468.2	193.8
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	1.0	1.6	3.1	5.2	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	28.7	24.2	25.5	23.3	22.9
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	28.7	24.2	25.5	23.3	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	—	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)	414.9	404.2	403.7	382.5	484.2
I. Owner's equity	414.9	404.2	403.7	382.5	0.0
1. Owner's capital	273.0	273.0	273.0	273.0	484.2
- Common stock with voting right VND per share	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	210,000,000,000.00
- Preferred stock VND per share	—	0.00	0.00	0.00	0.00
2. Share premium	37.2	37.2	37.2	37.2	37.2
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	11.1	11.1	11.1	7.6	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	51.3	51.3	51.3	54.8	0.0
9. Fund to support corporate restructuring	—	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	1.8	1.8	1.8	1.8	0.0
11. Undistributed earnings after tax	40.4	29.8	29.3	8.1	172.8
- Accumulated retained earning at the end of the previous period	9.2	4.2	8.1	5.0	30.7
- Undistributed earnings in this period	31.2	25.6	21.1	3.1	142.1
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)	1,726.7	1,359.5	1,279.9	1,144.9	1,261.6

Item	2025	2024	2023	2022	2021
Profit Before Tax	41.0	29.8	25.8	5.5	177.8
Depreciation of Fixed Assets and Investment Property	7.4	8.0	8.3	8.6	8.9
Provision (Increase)/Reversal	5.8	-3.9	-54.3	40.4	0.0
FX Gain/Loss from Revaluation of Monetary Items	-0.2	0.0	-1.6	-0.9	0.0
Gain/Loss from Investment Activities	-14.1	-21.0	-14.4	-2.9	0.0
Interest Expense	33.5	21.1	21.8	17.7	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	73.5	34.0	-14.4	68.4	238.8
Increase/(Decrease) in Receivables	-9.8	-103.8	-3.4	-65.7	0.0
Increase/(Decrease) in Inventory	-264.9	-163.9	305.1	178.4	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	239.2	-127.6	55.3	-289.7	0.0
Increase/(Decrease) in Prepaid Expenses	-0.2	0.1	-0.0	-0.1	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-32.9	-21.0	-21.9	-17.3	0.0
Corporate Income Tax Paid	-1.3	-0.1	-0.1	-10.0	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-4.5	-4.6	-2.1	-7.3	0.0
Net Cash Flow from Operating Activities	-0.7	-386.8	318.5	-143.3	17.6
Payments for Fixed Assets and Other Long-term Assets	-0.0	0.0	-3.2	-9.1	-0.5
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.0	0.1	0.5	0.0
Loans and Purchases of Debt Instruments	-554.0	-545.5	-597.3	-9.0	-34.5
Receipts from Loan Repayments and Sale of Debt Instruments	416.5	800.3	179.5	9.0	34.5
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	12.8	22.6	8.6	2.4	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	-124.7	277.4	-412.3	-6.2	1.9
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	5,260.2	4,308.9	2,780.8	3,546.9	3,836.8
Repayment of Borrowings	-5,144.4	-4,100.9	-2,718.3	-3,272.4	-3,813.7
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-21.8	-21.8	-0.1	-94.5	-35.7
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	94.0	186.1	62.4	180.0	-12.6
Net Cash Flow During the Period	-31.5	76.6	-31.4	30.5	10.6
Cash and Cash Equivalents at Beginning of Period	96.6	19.9	51.3	20.8	13.9
FX Difference from Revaluation	0.2	0.0	0.0	0.0	-0.0
Cash and Cash Equivalents at End of Period	65.2	96.6	19.9	51.3	20.8

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	2,475.8	2,344.0	1,746.3	1,402.7	1,422.8	1,194.1	1,258.2	1,075.1	1,074.1	828.5	773.3	691.0
Revenue Deductions	—	—	0.6	0.2	0.4	0.2	0.4	0.0	0.1	0.0	1.1	0.0
Net Revenue	2,475.8	2,344.0	1,745.7	1,402.6	1,422.4	1,193.9	1,257.8	1,075.1	1,074.0	828.5	772.2	691.0
Cost of Goods Sold	2,404.5	2,272.1	1,701.2	1,377.3	1,378.2	1,165.0	1,229.6	1,052.3	1,049.2	812.3	745.9	677.0
Gross Profit	71.4	72.0	44.5	25.2	44.2	28.9	28.3	22.8	24.8	16.2	26.3	14.0
Financial Income	11.0	11.6	14.2	10.3	9.4	11.1	9.2	8.8	8.8	10.3	13.7	9.1
Financial Expenses	16.9	19.4	13.1	7.3	10.5	5.1	6.3	2.6	11.2	8.5	5.1	6.7
Interest Expense	18.6	17.7	9.9	7.8	8.3	7.5	6.7	4.8	3.9	5.7	3.7	4.6
Share of Associates and Joint Ventures	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	37.0	37.2	22.5	14.7	24.3	17.2	14.9	16.4	11.2	9.0	14.7	9.8
General and Administrative Expenses	10.4	10.4	12.0	5.0	7.5	7.7	6.1	4.7	4.8	4.4	4.6	3.5
Operating Profit	18.1	16.6	11.2	8.6	11.3	9.9	10.2	7.8	6.4	4.5	15.6	3.0
Other Income	1.0	0.9	0.4	0.1	0.1	0.2	0.1	0.1	0.8	0.2	0.4	0.0
Other Expenses	—	0.0	0.7	0.0	—	0.0	0.0	0.1	0.1	0.0	0.0	0.0
Other Profit	1.0	0.9	-0.3	0.1	0.1	0.2	0.1	-0.0	0.7	0.1	0.4	0.0
Profit Before Tax	19.1	17.5	10.9	8.7	11.4	10.1	10.3	7.8	7.1	4.7	15.9	3.0
Current Income Tax Expense	5.6	4.3	3.6	1.8	2.3	2.1	0.0	1.6	1.5	1.1	2.1	0.9
Deferred Income Tax Expense	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	13.6	13.2	7.3	6.9	9.0	8.0	10.2	6.2	5.6	3.6	13.8	2.0
Non-controlling Interest	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	13.6	13.2	7.3	6.9	9.0	8.0	10.2	6.2	5.6	3.6	13.8	2.0
Earnings per Share VND per share	497.00	482.00	269.00	253.00	331.00	292.00	374.00	227.00	205.00	132.00	507.00	74.00
Diluted EPS VND per share	497.02	482.42	268.98	252.54	331.09	292.35	374.15	227.31	205.18	132.11	506.84	74.26

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)	1,570.5	1,583.3	1,599.8	1,229.0	1,311.7	1,355.3	1,253.7	1,114.9	1,006.7	1,152.7	1,167.0	905.5
I. Cash and cash equivalents	91.7	75.7	65.2	60.3	37.5	28.8	96.6	39.5	10.7	57.1	19.9	20.5
1. Cash	91.7	75.7	65.2	60.3	37.5	28.8	96.6	39.5	10.7	57.1	19.9	20.5
2. Cash equivalents	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
II. Short-term financial investments	315.4	170.0	310.0	302.0	259.0	187.0	172.5	370.0	363.0	437.7	427.3	256.1
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	315.4	170.0	310.0	302.0	259.0	187.0	172.5	370.0	363.0	437.7	427.3	256.1
III. Short-term receivables	598.0	688.7	436.5	547.3	466.8	548.8	443.7	407.8	384.3	366.6	350.6	352.0
1. Short-term trade accounts receivable	612.9	586.2	476.4	526.5	493.8	581.8	470.6	432.4	387.1	357.1	339.5	389.3
2. Short-term prepayments to suppliers	30.2	142.7	1.5	57.3	9.0	6.5	8.5	10.5	42.5	52.1	54.5	0.7
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	8.2	12.7	12.1	15.0	16.3	13.6	17.6	16.5	7.9	11.8	11.6	16.9
7. Provision for short-term doubtful debts (*)	-53.2	-52.9	-53.4	-51.5	-52.3	-53.1	-53.0	-51.6	-53.2	-54.4	-55.0	-54.9
8. Assets awaiting resolution	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	552.7	625.1	747.7	311.8	513.6	558.0	509.5	279.9	226.3	274.8	344.8	257.4
1. Inventories	607.7	663.4	786.0	357.7	551.5	601.3	548.6	315.7	265.0	323.7	384.5	313.3
2. Provision for decline in value of inventories	-54.9	-38.3	-38.3	-45.9	-37.8	-43.3	-39.1	-35.9	-38.6	-48.9	-39.8	-55.9
V. Other short-term assets	12.7	23.7	40.3	7.7	34.8	32.8	31.5	17.7	22.4	16.5	24.4	19.5
1. Short-term prepayments	7.8	1.0	0.5	4.7	9.3	0.6	0.4	3.7	7.3	0.6	0.4	3.6
2. Value added tax to be reclaimed	4.6	17.8	39.4	0.2	21.0	25.3	22.2	5.0	4.5	3.9	10.8	0.6
3. Taxes and other receivables from state authorities	0.3	4.9	0.3	2.7	4.5	6.8	8.9	9.0	10.5	12.0	13.2	15.3
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)	97.1	96.6	99.4	101.1	102.4	106.4	105.9	107.4	107.2	113.7	113.0	114.1
I. Long-term receivables	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.2	0.2
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	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.2	0.2
7. Provision for long-term doubtful debts	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	19.2	20.1	20.9	21.8	22.7	23.7	24.7	25.8	26.9	28.0	29.1	30.3
1. Tangible fixed assets	10.3	11.1	11.9	12.7	13.6	14.5	15.4	16.5	17.5	18.6	19.7	20.8
- Cost	79.6	79.6	—	—	—	—	79.6	79.6	79.6	79.6	79.6	79.7
- Accumulated depreciation	-69.3	-68.5	—	—	—	—	-64.1	-63.1	-62.0	-61.0	-59.9	-58.9
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	9.0	9.0	9.1	9.1	9.2	9.2	9.3	9.3	9.4	9.4	9.5	9.5
- Cost	12.3	12.3	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-3.4	-3.3	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	60.1	61.1	61.5	62.4	63.3	64.2	65.1	66.0	66.9	67.8	68.7	69.6
- Cost	146.0	146.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-85.8	-84.9	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.4
1. Long-term production in progress	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.4
V. Long-term financial investments	17.6	15.4	16.9	16.9	16.3	18.4	16.0	15.6	13.3	17.8	14.9	13.6
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	37.0	37.0	37.0	37.0	37.0	37.0	37.0	37.0	37.0	37.0	37.0	37.0
4. Provision for diminution in value of long-term investments	-19.4	-21.6	-20.1	-20.1	-20.7	-18.6	-21.0	-21.4	-23.7	-19.2	-22.1	-23.4
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	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
1. Long-term prepayments	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
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)	1,667.6	1,679.8	1,699.2	1,330.2	1,414.1	1,461.7	1,359.6	1,222.3	1,113.9	1,266.3	1,280.0	1,019.6
A. LIABILITIES (300=210+330)	1,252.5	1,251.8	1,284.3	927.7	1,018.5	1,049.5	955.3	828.2	726.0	859.0	876.3	629.8
I. Short -term liabilities	1,219.5	1,219.8	1,255.7	901.7	993.1	1,024.2	931.1	804.0	701.3	833.8	850.7	604.4
1. Short-term trade accounts payable	167.9	156.4	321.9	156.6	133.4	214.1	168.8	157.8	143.7	101.7	141.2	177.5
2. Short-term advances from customers	38.3	73.1	43.0	32.2	30.4	8.5	2.4	6.5	4.4	6.3	2.8	2.1
3. Dividends and profits payable	0.1	0.1	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	12.9	3.5	1.2	9.0	9.3	0.2	0.2	7.3	6.9	0.7	0.1	24.7
4. Payable to employees	37.2	19.9	19.6	19.2	20.7	10.1	11.6	17.6	11.5	4.9	16.9	11.8
5. Short-term acrrued expenses	10.1	10.9	9.6	8.1	11.9	12.3	3.2	5.3	5.3	7.9	3.8	3.8
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	1.9	0.0	1.8	0.0	1.8	0.0	1.8	0.0	1.8	0.0	1.8	0.1
9. Other short-term payables	4.7	4.6	3.0	3.1	3.2	4.2	3.0	3.3	24.9	181.9	150.6	93.1
10. Short-term borrowings and financial leases	941.2	950.6	854.4	669.8	778.5	774.4	738.6	603.4	499.9	529.6	530.7	287.4
11. Provision for short-term liabilities	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	5.3	0.7	1.0	3.5	3.9	0.4	1.6	2.7	3.0	0.7	3.1	4.1
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	33.1	32.0	28.7	26.0	25.4	25.2	24.2	24.2	24.7	25.2	25.6	25.3
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	—	32.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
7. Other long-term liabilities	33.1	—	28.7	26.0	25.4	25.2	24.2	24.2	24.7	25.2	25.6	25.3
8. Long-term borrowings and financial leases	—	—	—	—	—	—	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	—	—	—	—	—	—	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
B. OWNER'S EQUITY (400=410+430)	415.1	428.0	414.9	402.5	395.6	412.2	404.3	394.1	387.9	407.3	403.7	389.8
I. Owner's equity	415.1	428.0	414.9	402.5	395.6	412.2	404.3	394.1	387.9	407.3	403.7	389.8
1. Owner's capital	273.0	273.0	273.0	273.0	273.0	273.0	273.0	273.0	273.0	273.0	273.0	273.0
- Common stock with voting right VND per share	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00
- Preferred stock VND per share	—	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	37.2	37.2	37.2	37.2	37.2	37.2	37.2	37.2	37.2	37.2	37.2	37.2
3. Convertible bond option	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	11.1	11.1	11.1	11.1	11.1	11.1	11.1	11.1	11.1	11.1	11.1	11.1
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	51.3	51.3	51.3	51.3	51.3	51.3	51.3	51.3	51.3	51.3	51.3	51.3
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	1.8	1.8	1.8	1.8	1.8	1.8	1.8	1.8	1.8	1.8	1.8	1.8
11. Undistributed earnings after tax	40.6	53.6	40.5	28.0	21.2	37.8	29.9	19.7	13.5	32.9	29.2	15.4
- Accumulated retained earning at the end of the previous period	13.9	40.4	9.2	4.1	4.1	29.8	4.2	4.2	4.2	29.3	8.1	8.1
- Undistributed earnings in this period	26.7	13.2	31.3	23.9	17.0	8.0	25.6	15.4	9.2	3.6	21.1	7.3
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	—	—	—	—	—	—	0.0	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
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)	1,667.6	1,679.8	1,699.2	1,330.2	1,414.1	1,461.7	1,359.6	1,222.3	1,113.9	1,266.3	1,280.0	1,019.6

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
Profit Before Tax	19.1	17.5	10.9	8.7	11.4	10.1	10.3	7.8	7.1	4.7	16.0	3.0
Depreciation of Fixed Assets and Investment Property	1.8	1.8	1.8	1.8	1.9	1.9	2.0	2.0	2.0	2.1	2.1	2.1
Provision (Increase)/Reversal	14.7	1.0	1.3	6.6	-4.2	2.1	4.2	-6.6	-6.9	5.6	-17.3	-9.5
FX Gain/Loss from Revaluation of Monetary Items	-0.1	-0.3	0.1	0.0	-0.0	-0.2	0.1	-0.1	-2.1	2.2	-2.6	0.9
Gain/Loss from Investment Activities	-4.4	-4.1	-4.5	-4.0	-3.0	-2.7	-4.9	-5.0	-4.7	-6.3	-5.4	-5.2
Interest Expense	18.6	17.7	9.9	7.8	8.3	7.5	6.7	4.8	3.9	5.7	3.7	4.6
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	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	49.7	33.6	19.5	21.0	14.4	18.6	18.3	2.8	-0.9	13.9	-3.6	-4.1
Increase/(Decrease) in Receivables	105.1	-237.0	71.1	-60.1	89.6	-110.3	-55.2	-21.1	-20.5	-7.0	-8.9	13.1
Increase/(Decrease) in Inventory	55.8	149.9	-455.6	193.8	49.8	-52.8	-232.9	-50.8	58.7	60.9	-71.2	-14.4
Increase/(Decrease) in Payables (Excl. Interest and CIT)	3.5	-158.9	199.9	18.3	-38.5	59.6	-7.3	20.8	-125.2	-15.9	6.6	58.8
Increase/(Decrease) in Prepaid Expenses	-6.7	-0.5	4.1	4.6	-8.7	-0.2	3.3	3.7	-6.8	-0.1	3.2	3.3
Changes in Trading Securities	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-18.6	-17.3	-9.2	-7.9	-8.4	-7.4	-6.5	-4.7	-3.9	-5.8	-3.6	-4.6
Corporate Income Tax Paid	-3.5	-1.7	-1.3	—	—	—	0.0	-0.1	0.0	0.0	0.0	-0.1
Other Operating Receipts	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-0.2	-0.3	-2.5	-0.4	-0.3	-1.3	-1.0	-0.3	-0.9	-2.4	-1.0	-0.1
Net Cash Flow from Operating Activities	185.1	-232.1	-174.0	169.2	97.9	-93.8	-281.3	-49.7	-99.4	43.5	-78.4	51.9
Payments for Fixed Assets and Other Long-term Assets	-0.0	-0.5	-0.0	—	—	—	0.0	0.0	0.0	0.0	0.4	-0.1
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.1	0.0
Loans and Purchases of Debt Instruments	-202.3	-70.0	-90.0	-212.5	-82.0	-169.5	-12.5	-175.0	-210.0	-148.0	-284.7	-137.6
Receipts from Loan Repayments and Sale of Debt Instruments	62.5	210.0	82.0	169.5	10.0	155.0	210.0	168.0	284.7	137.6	113.5	61.5
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	1.8	6.7	2.5	5.2	0.5	4.6	5.7	3.7	8.1	5.0	5.2	2.9
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	-138.0	146.2	-5.6	-37.8	-71.5	-9.9	203.2	-3.3	82.8	-5.4	-165.4	-73.2
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	1,863.8	1,921.3	1,698.9	1,154.0	1,336.5	1,070.9	1,369.3	1,068.6	1,104.2	766.8	820.4	672.0
Repayment of Borrowings	-1,873.3	-1,825.1	-1,514.3	-1,262.6	-1,332.4	-1,035.1	-1,234.0	-965.1	-1,133.9	-767.9	-577.1	-643.7
Repayment of Finance Leases	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	-21.8	-0.0	0.0	0.0	-21.8	-0.0	-0.0	-21.8	0.0	0.0	0.0	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	-31.3	96.2	184.6	-108.6	-17.8	35.8	135.2	81.6	-29.6	-1.1	243.3	28.3
Net Cash Flow During the Period	15.9	10.2	5.0	22.8	8.7	-68.0	57.1	28.6	-46.2	37.1	-0.5	7.0
Cash and Cash Equivalents at Beginning of Period	75.7	65.2	60.3	37.5	28.8	96.6	19.9	19.9	19.9	19.9	51.3	51.3
FX Difference from Revaluation	0.1	0.3	0.2	0.2	0.3	0.2	-0.1	0.1	-0.2	0.1	0.0	0.0
Cash and Cash Equivalents at End of Period	91.7	75.7	65.2	60.3	37.5	28.8	96.6	39.5	10.7	57.1	19.9	20.5

From one stock to the whole portfolio

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

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How much does this stock
contribute to the portfolio?

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well balanced?

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What other opportunities
or risks may be present?

What becomes visible only when investments are viewed together rather than one ticker at a time.

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Where does this stock standamong the rest of your investments?

How much does this stockcontribute to the portfolio?

Is the portfoliowell balanced?

What other opportunitiesor risks may be present?

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?