The financial statements of SFG

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	2,075.6	1,605.6	1,560.1	2,022.7	2,117.8
Revenue Deductions	10.0	5.5	1.1	14.2	0.0
Net Revenue	2,065.6	1,600.2	1,559.0	2,008.5	2,109.7
Cost of Goods Sold	1,898.7	1,460.6	1,471.1	1,864.4	0.0
Gross Profit	166.9	139.5	87.9	144.1	164.2
Financial Income	24.4	26.8	82.8	36.0	10.3
Financial Expenses	47.2	29.7	33.0	36.8	-25.1
Interest Expense	38.6	23.5	22.2	32.5	-21.8
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	-0.0
Selling Expenses	54.2	61.5	47.8	50.2	-76.2
General and Administrative Expenses	52.2	49.2	40.6	36.5	-36.2
Operating Profit	37.7	26.0	49.3	56.6	37.1
Other Income	3.6	7.5	8.8	4.6	0.0
Other Expenses	1.0	1.4	1.1	6.2	0.0
Other Profit	2.5	6.1	7.7	-1.6	6.1
Profit Before Tax	40.2	32.1	57.0	55.0	43.2
Current Income Tax Expense	7.0	7.5	0.3	9.1	-8.7
Deferred Income Tax Expense	1.2	-1.0	-0.1	0.9	0.0
Net Income	32.0	25.7	56.8	45.0	34.5
Non-controlling Interest	—	0.0	0.0	0.0	-0.0
Profit Attributable to Parent	32.0	25.7	56.8	45.0	34.5
Earnings per Share VND per share	669.00	536.00	1,186.00	940.00	720.00
Diluted EPS VND per share	668.93	536.23	1,186.31	940.15	720.29

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	1,545.9	1,129.7	1,000.1	869.3	1,189.9
I. Cash and cash equivalents	13.9	11.3	63.7	17.6	101.7
1. Cash	13.9	11.3	12.7	7.6	0.0
2. Cash equivalents	—	0.0	51.0	10.0	0.0
II. Short-term financial investments	254.8	391.4	506.3	154.8	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	254.8	391.4	506.3	154.8	0.0
III. Short-term receivables	188.1	280.0	148.8	103.9	177.2
1. Short-term trade accounts receivable	166.0	254.7	150.1	120.0	0.0
2. Short-term prepayments to suppliers	37.5	35.3	6.6	8.4	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	4.0	8.2	8.8	3.8	0.0
7. Provision for short-term doubtful debts (*)	-19.4	-18.2	-16.8	-28.3	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	1,035.5	434.6	261.1	571.5	612.0
1. Inventories	1,035.5	434.6	261.1	571.5	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	53.6	12.3	20.2	21.6	12.0
1. Short-term prepayments	1.1	0.1	6.6	2.8	0.0
2. Value added tax to be reclaimed	52.1	11.8	11.8	14.9	0.0
3. Taxes and other receivables from state authorities	0.4	0.4	1.9	3.9	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)	229.5	252.1	243.8	213.5	241.0
I. Long-term receivables	0.2	0.2	0.2	0.3	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	0.3
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	0.2	0.2	0.2	0.3	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	-0.0	0.0
II. Fixed assets	135.5	137.6	148.8	157.8	167.6
1. Tangible fixed assets	57.8	57.4	66.2	72.3	78.2
- Cost	561.2	551.6	541.5	529.3	0.0
- Accumulated depreciation	-503.4	-494.1	-475.3	-457.0	0.0
2. Financial leased fixed assets	—	0.0	0.0	0.5	1.0
- Cost	—	0.0	0.0	1.2	0.0
- Accumulated depreciation	—	0.0	0.0	-0.7	0.0
3. Intangible fixed assets	77.7	80.1	82.5	85.0	88.3
- Cost	114.7	114.7	114.7	114.7	0.0
- Accumulated depreciation	-37.0	-34.6	-32.2	-29.7	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	4.5	6.3	1.9	1.1	1.1
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	4.5	6.3	1.9	1.1	0.0
V. Long-term financial investments	43.9	43.9	43.9	43.9	43.9
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	43.9	43.9	43.9	43.9	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	45.5	64.2	49.1	10.4	0.0
1. Long-term prepayments	45.5	63.0	49.0	10.4	0.0
2. Deferred income tax assets	—	1.2	0.1	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	28.2
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)	1,775.4	1,381.8	1,243.9	1,082.8	1,431.0
A. LIABILITIES (300=210+330)	1,116.6	732.5	590.4	467.7	849.4
I. Short -term liabilities	1,116.2	732.2	590.1	467.3	848.0
1. Short-term trade accounts payable	60.6	53.2	58.0	61.3	75.1
2. Short-term advances from customers	43.6	9.4	8.6	10.1	16.6
3. Taxes and other payables to state authorities	3.5	2.4	0.3	0.0	0.0
4. Payable to employees	17.8	11.0	18.7	55.1	0.0
5. Short-term acrrued expenses	2.6	10.8	4.5	3.5	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	—	0.0	0.0	0.0	0.0
9. Other short-term payables	5.7	6.1	10.2	64.1	0.0
10. Short-term borrowings and financial leases	978.9	633.0	484.0	270.4	696.9
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	3.4	6.1	5.7	2.9	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	0.5	0.3	0.3	0.4	1.4
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	0.1	0.1	0.1	0.1	0.2
7. Other long-term liabilities	0.3	0.1	0.1	0.1	0.0
8. Long-term borrowings and financial leases	—	0.0	0.0	0.1	1.0
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)	658.8	649.3	653.5	615.1	581.6
I. Owner's equity	658.8	649.3	653.5	615.1	0.0
1. Owner's capital	479.0	479.0	479.0	479.0	581.6
- Common stock with voting right VND per share	478,973,330,000.00	478,973,330,000.00	478,973,330,000.00	478,973,330,000.00	478,973,330,000.00
- 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	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	116.5	108.8	91.7	78.2	0.0
9. Fund to support corporate restructuring	—	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	7.4	7.4	7.4	7.4	0.0
11. Undistributed earnings after tax	55.9	54.2	75.5	50.6	35.3
- Accumulated retained earning at the end of the previous period	23.9	28.5	18.6	5.5	0.8
- Undistributed earnings in this period	32.0	25.7	56.8	45.0	34.5
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)	1,775.4	1,381.8	1,243.9	1,082.8	1,431.0

Item	2025	2024	2023	2022	2021
Profit Before Tax	40.2	32.1	57.0	55.0	43.2
Depreciation of Fixed Assets and Investment Property	20.8	21.2	26.2	25.6	26.9
Provision (Increase)/Reversal	1.1	1.5	0.4	-9.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	0.5	-0.4	0.5	0.3	0.0
Gain/Loss from Investment Activities	-20.9	-24.3	-81.3	-27.1	0.0
Interest Expense	38.6	23.5	22.2	32.5	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	0.2	0.0
Operating Profit Before Changes in Working Capital	80.4	53.6	25.0	77.6	76.5
Increase/(Decrease) in Receivables	50.7	-134.6	-36.0	78.0	0.0
Increase/(Decrease) in Inventory	-600.9	-173.5	310.0	37.0	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	39.0	-9.2	-94.6	43.5	0.0
Increase/(Decrease) in Prepaid Expenses	15.4	-7.6	-42.4	15.9	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-38.1	-23.6	-22.0	-32.8	0.0
Corporate Income Tax Paid	-6.8	-3.5	0.0	-16.1	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-5.5	-5.5	-2.0	-1.0	0.0
Net Cash Flow from Operating Activities	-465.9	-303.8	138.1	202.1	2.2
Payments for Fixed Assets and Other Long-term Assets	-13.3	-14.5	-12.9	-9.0	-12.6
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.0	0.0	0.9	0.4	0.4
Loans and Purchases of Debt Instruments	-673.6	-920.7	-826.7	-665.0	-419.9
Receipts from Loan Repayments and Sale of Debt Instruments	810.3	1,035.5	475.2	797.2	162.9
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	23.0	26.2	77.1	27.4	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	146.4	126.6	-286.4	151.0	-261.9
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	2,200.3	1,538.5	1,139.2	1,510.6	2,065.1
Repayment of Borrowings	-1,854.4	-1,389.5	-925.1	-1,937.4	-1,748.0
Repayment of Finance Leases	—	0.0	-0.5	-0.4	-0.4
Dividends Paid	-23.8	-24.2	-19.1	-9.6	-11.9
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	322.0	124.8	194.5	-436.9	304.8
Net Cash Flow During the Period	2.6	-52.5	46.2	-83.8	70.7
Cash and Cash Equivalents at Beginning of Period	11.3	63.7	17.6	101.7	56.3
FX Difference from Revaluation	0.0	0.1	-0.0	-0.4	0.3
Cash and Cash Equivalents at End of Period	13.9	11.3	63.7	17.6	101.7

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	690.5	1,027.4	329.5	678.3	573.8	494.0	509.9	298.8	447.7	349.2	419.4	421.5
Revenue Deductions	2.7	8.4	1.8	0.0	1.3	6.8	0.3	0.0	0.0	5.2	0.0	0.3
Net Revenue	687.8	1,018.9	327.6	678.3	572.5	487.2	509.7	298.8	447.7	344.0	419.3	421.2
Cost of Goods Sold	610.8	960.4	299.9	626.1	516.7	457.9	474.1	265.8	406.4	313.4	376.4	381.9
Gross Profit	77.0	58.6	27.7	52.2	55.8	29.4	35.6	32.9	41.3	30.7	43.0	39.2
Financial Income	15.9	6.6	6.0	6.7	5.9	5.4	5.0	6.5	6.5	7.9	5.9	8.7
Financial Expenses	22.1	15.8	8.7	17.9	10.5	10.0	6.6	7.4	7.0	8.6	14.9	7.2
Interest Expense	18.0	14.2	6.6	15.9	8.9	7.2	6.0	5.7	5.7	6.1	7.0	5.8
Share of Associates and Joint Ventures	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	33.1	19.3	9.5	17.5	19.6	5.4	19.9	11.0	19.2	11.4	14.9	12.0
General and Administrative Expenses	18.1	19.7	11.5	11.8	16.0	13.0	11.8	11.3	11.8	14.2	10.7	10.6
Operating Profit	19.6	10.3	4.0	11.7	15.5	6.3	2.2	9.8	9.7	4.3	8.4	18.1
Other Income	0.8	2.0	1.2	0.3	0.2	1.8	5.4	0.4	0.6	1.1	3.6	1.2
Other Expenses	0.3	0.2	0.2	0.0	0.7	0.1	0.5	0.3	0.1	0.4	0.2	0.2
Other Profit	0.5	1.7	1.0	0.3	-0.5	1.7	4.8	0.1	0.4	0.8	3.4	1.0
Profit Before Tax	20.1	12.1	5.0	12.0	15.1	8.0	7.1	9.9	10.2	5.1	11.8	19.1
Current Income Tax Expense	4.1	2.4	1.0	2.4	3.0	1.6	2.7	2.0	2.3	1.0	-0.2	0.0
Deferred Income Tax Expense	—	—	1.2	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	16.0	9.7	2.8	9.6	12.0	6.4	4.4	7.9	7.9	4.1	12.0	19.1
Non-controlling Interest	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	16.0	9.7	2.8	9.6	12.0	6.4	4.4	7.9	7.9	4.1	12.0	19.1
Earnings per Share VND per share	335.00	202.00	58.00	200.00	251.00	134.00	92.00	165.00	164.00	85.00	251.00	399.00
Diluted EPS VND per share	—	201.58	58.01	200.34	251.42	133.82	92.02	165.25	164.21	85.45	251.48	399.49

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)	1,822.4	1,759.8	1,547.9	1,679.2	1,438.5	1,257.8	1,136.5	1,053.4	1,126.1	1,014.4	1,000.2	1,068.6
I. Cash and cash equivalents	70.3	186.1	13.9	119.8	45.8	22.4	11.3	23.9	51.5	21.7	63.7	50.1
1. Cash	35.3	186.1	13.9	30.8	35.8	22.4	11.3	23.9	26.3	21.7	12.7	27.1
2. Cash equivalents	35.0	—	—	89.0	10.0	—	0.0	0.0	25.3	0.0	51.0	23.0
II. Short-term financial investments	450.3	412.0	254.8	344.7	418.9	409.5	391.4	454.3	472.3	515.6	506.3	401.2
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	450.3	412.0	254.8	344.7	418.9	409.5	391.4	454.3	472.3	515.6	506.3	401.2
III. Short-term receivables	442.9	401.2	187.7	564.8	415.4	420.5	279.9	222.4	311.4	136.5	148.8	297.6
1. Short-term trade accounts receivable	196.0	234.8	166.0	482.1	363.2	350.1	254.7	206.0	281.0	123.3	150.1	287.1
2. Short-term prepayments to suppliers	47.8	170.6	37.5	92.0	63.2	77.8	35.3	22.3	38.2	18.1	6.6	26.8
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	218.9	15.1	3.5	9.7	8.0	10.9	8.1	10.8	8.9	11.9	8.8	13.2
7. Provision for short-term doubtful debts (*)	-19.8	-19.4	-19.4	-19.0	-19.0	-18.2	-18.2	-16.6	-16.6	-16.9	-16.7	-29.5
8. Assets awaiting resolution	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	801.6	700.7	1,035.5	627.4	543.6	387.8	434.6	336.3	272.5	318.4	261.1	302.5
1. Inventories	801.6	700.7	1,035.5	627.4	543.6	387.8	434.6	336.3	272.5	318.4	261.1	302.5
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	57.3	59.8	56.0	22.5	14.9	17.6	19.2	16.4	18.4	22.1	20.2	17.1
1. Short-term prepayments	0.4	12.2	3.5	0.9	1.0	4.0	6.7	2.0	3.9	6.1	6.6	1.5
2. Value added tax to be reclaimed	56.2	46.9	52.1	19.8	12.6	12.2	11.8	13.8	13.4	13.0	11.8	11.3
3. Taxes and other receivables from state authorities	0.7	0.8	0.4	1.9	1.3	1.4	0.7	0.6	1.0	3.0	1.9	4.3
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)	223.3	218.5	224.2	213.0	222.5	236.2	244.8	232.2	234.5	239.7	243.8	200.0
I. Long-term receivables	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	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	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	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	145.9	146.9	130.3	129.1	133.0	138.0	137.6	139.3	139.7	142.9	148.8	146.2
1. Tangible fixed assets	67.4	67.6	52.6	50.8	54.1	58.4	57.4	58.5	58.3	60.9	66.2	63.0
- Cost	568.9	575.7	—	—	—	—	551.6	548.4	543.9	541.5	541.5	532.9
- Accumulated depreciation	-501.5	-508.1	—	—	—	—	-494.1	-489.8	-485.5	-480.6	-475.3	-469.9
2. Financial leased fixed assets	2.0	2.2	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	2.4	2.4	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-0.4	-0.2	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	76.5	77.1	77.7	78.3	78.9	79.5	80.1	80.7	81.3	81.9	82.5	83.1
- Cost	114.7	114.7	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-38.2	-37.6	—	—	—	—	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	2.0	1.5	4.5	3.4	2.1	1.4	6.6	14.6	13.5	8.4	1.9	2.6
1. Long-term production in progress	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	2.0	1.5	4.5	3.4	2.1	1.4	6.6	14.6	13.5	8.4	1.9	2.6
V. Long-term financial investments	43.9	43.9	43.9	43.9	43.9	43.9	43.9	43.9	43.9	43.9	43.9	43.9
1. Investments in subsidiaries	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	43.9	43.9	43.9	43.9	43.9	43.9	43.9	43.9	43.9	43.9	43.9	43.9
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	31.4	26.1	45.4	36.5	43.4	52.7	56.6	34.3	37.3	44.4	49.1	7.2
1. Long-term prepayments	31.4	26.1	45.4	35.3	42.2	51.6	56.4	34.1	37.1	44.3	49.0	7.1
2. Deferred income tax assets	—	—	—	1.2	1.2	1.2	0.1	0.1	0.1	0.1	0.1	0.1
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)	2,045.7	1,978.3	1,772.1	1,892.2	1,661.1	1,493.9	1,381.2	1,285.6	1,360.6	1,254.1	1,244.0	1,268.6
A. LIABILITIES (300=210+330)	1,365.1	1,309.9	1,118.8	1,241.6	1,020.1	838.2	733.3	642.1	725.0	596.4	590.4	632.7
I. Short -term liabilities	1,364.8	1,309.5	1,118.5	1,241.4	1,019.9	838.0	733.1	641.8	724.7	596.2	590.1	632.5
1. Short-term trade accounts payable	81.2	38.4	60.6	49.2	69.5	54.5	53.2	36.9	48.9	52.7	58.0	62.5
2. Short-term advances from customers	35.8	75.1	43.6	23.6	12.5	2.2	9.4	4.2	4.5	4.5	8.6	24.5
3. Taxes and other payables to state authorities	5.9	2.4	3.5	2.8	3.1	1.8	3.3	2.0	0.7	0.4	0.3	1.3
4. Payable to employees	49.0	24.8	17.8	21.9	16.0	13.1	11.0	9.4	10.9	10.2	18.7	17.7
5. Short-term acrrued expenses	20.3	10.2	4.8	21.9	10.5	9.1	10.8	5.3	9.8	12.8	4.5	11.6
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	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
9. Other short-term payables	57.5	56.1	5.9	7.2	30.3	6.1	6.1	11.0	34.5	10.9	10.2	10.4
10. Short-term borrowings and financial leases	1,111.6	1,102.0	978.9	1,087.4	870.5	748.6	633.0	549.8	585.7	498.0	484.0	480.4
11. Provision for short-term liabilities	—	—	—	24.0	4.1	—	0.0	17.1	22.6	4.0	0.0	18.2
12.. Bonus and welfare fund	3.6	0.3	3.4	3.4	3.5	2.7	6.1	6.1	7.1	2.6	5.7	5.8
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	0.3	0.4	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.1
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	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1
7. Other long-term liabilities	0.2	0.3	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.0
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)	680.6	668.4	653.3	650.6	641.0	655.7	647.9	643.5	635.6	657.6	653.6	636.0
I. Owner's equity	680.6	668.4	653.3	650.6	641.0	655.7	647.9	643.5	635.6	657.6	653.6	636.0
1. Owner's capital	479.0	479.0	479.0	479.0	479.0	479.0	479.0	479.0	479.0	479.0	479.0	479.0
- Common stock with voting right VND per share	—	478,973,330,000.00	478,973,330,000.00	478,973,330,000.00	478,973,330,000.00	478,973,330,000.00	478,973,330,000.00	478,973,330,000.00	478,973,330,000.00	478,973,330,000.00	478,973,330,000.00	478,973,330,000.00
- Preferred stock VND per share	—	—	—	—	—	—	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
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	126.1	116.5	116.5	116.5	116.5	108.8	108.8	108.8	108.8	91.7	91.7	91.7
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	7.4	7.4	7.4	7.4	7.4	7.4	7.4	7.4	7.4	7.4	7.4	7.4
11. Undistributed earnings after tax	68.2	65.6	50.5	47.7	38.1	60.6	52.8	48.4	40.4	79.5	75.5	57.9
- Accumulated retained earning at the end of the previous period	42.5	55.9	19.7	19.7	19.7	54.2	28.5	28.5	28.5	75.5	18.6	13.1
- Undistributed earnings in this period	25.7	9.7	30.8	28.0	18.5	6.4	24.3	19.9	12.0	4.1	56.8	44.8
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)	2,045.7	1,978.3	1,772.1	1,892.2	1,661.1	1,493.9	1,381.2	1,285.6	1,360.6	1,254.1	1,244.0	1,268.6

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	20.1	12.1	5.2	12.0	15.1	8.0	7.1	9.9	10.2	5.1	11.8	19.1
Depreciation of Fixed Assets and Investment Property	5.9	5.5	6.1	4.8	5.0	5.0	4.9	4.9	5.5	5.9	6.4	6.6
Provision (Increase)/Reversal	0.5	-0.0	-23.6	19.9	4.8	—	-15.5	-5.5	18.6	3.9	-19.0	11.9
FX Gain/Loss from Revaluation of Monetary Items	-0.7	—	0.8	—	-0.3	—	0.0	-0.8	0.8	0.0	0.5	-0.4
Gain/Loss from Investment Activities	-12.1	-4.4	-2.9	-7.1	-5.6	-5.3	-7.2	-5.4	-5.4	-7.9	-3.8	-11.6
Interest Expense	16.8	14.2	6.6	15.9	8.9	7.2	6.0	5.7	5.7	6.1	7.0	5.8
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	-0.5
Operating Profit Before Changes in Working Capital	30.4	27.4	-8.1	45.7	27.9	14.9	-4.7	8.8	35.3	13.0	3.0	30.8
Increase/(Decrease) in Receivables	-45.9	-207.1	345.3	-156.9	2.5	-140.2	-57.1	90.5	-153.8	-13.0	150.5	-50.8
Increase/(Decrease) in Inventory	-101.0	334.9	-408.2	-83.8	-155.8	46.8	-98.3	-63.1	45.2	-57.3	41.0	4.1
Increase/(Decrease) in Payables (Excl. Interest and CIT)	37.8	75.2	6.1	8.9	28.1	-4.2	24.0	-18.4	-30.9	16.3	-37.3	39.3
Increase/(Decrease) in Prepaid Expenses	6.4	8.4	-10.0	5.5	12.3	7.6	-14.4	-7.8	9.4	5.2	-45.2	0.6
Changes in Trading Securities	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-17.0	-13.9	-6.5	-15.7	-8.7	-7.3	-5.9	-5.6	-5.9	-6.2	-6.9	-5.6
Corporate Income Tax Paid	0.0	-4.7	0.0	-2.7	-0.3	-3.7	-1.6	0.0	0.0	-1.8	0.0	0.5
Other Operating Receipts	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-0.4	-3.1	0.1	-0.2	-1.9	-3.5	0.1	-1.0	-1.4	-3.2	-0.2	-0.3
Net Cash Flow from Operating Activities	-89.7	217.2	-81.2	-199.3	-95.8	-89.5	-157.8	3.4	-102.0	-47.1	104.9	18.6
Payments for Fixed Assets and Other Long-term Assets	-3.0	-13.9	-11.5	-0.5	-0.7	-0.5	-7.9	7.1	-7.5	-6.5	-5.1	-3.4
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.5	—	0.0	—	0.0	—	0.0	0.0	0.0	0.0	0.2	-0.0
Loans and Purchases of Debt Instruments	-185.3	-265.0	-147.0	-107.8	-236.9	-182.0	-234.1	-157.3	-318.6	-210.6	-305.1	-191.2
Receipts from Loan Repayments and Sale of Debt Instruments	147.0	107.8	236.9	182.0	227.6	163.9	297.0	175.3	362.0	201.2	200.0	120.4
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	7.6	3.2	5.4	6.8	7.1	3.6	7.4	3.6	8.5	6.9	14.0	1.0
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	-33.2	-168.0	83.8	80.5	-2.9	-15.0	62.4	28.6	44.4	-9.0	-95.9	-73.4
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	512.4	634.2	556.1	676.7	584.6	382.9	558.2	302.1	337.0	341.2	356.8	343.3
Repayment of Borrowings	-504.6	-511.1	-664.6	-459.8	-462.7	-267.3	-474.9	-337.7	-249.6	-327.2	-352.1	-248.6
Repayment of Finance Leases	-0.8	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	-0.1
Dividends Paid	-0.0	—	0.0	-23.8	-0.0	—	-0.4	-23.8	-0.0	-0.0	0.0	-19.1
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	7.0	123.1	-108.5	193.1	121.9	115.6	82.8	-59.4	87.4	14.0	4.7	75.5
Net Cash Flow During the Period	-115.9	172.3	-105.9	74.3	23.1	11.1	-12.5	-27.4	29.7	-42.1	13.6	20.6
Cash and Cash Equivalents at Beginning of Period	186.1	13.9	119.8	45.8	22.4	11.3	63.7	63.7	63.7	63.7	17.6	17.6
FX Difference from Revaluation	0.1	—	0.0	—	0.3	—	-0.1	-0.2	0.2	0.0	-0.0	-0.0
Cash and Cash Equivalents at End of Period	70.3	186.1	13.9	119.8	45.8	22.4	11.3	23.9	51.5	21.7	63.7	50.1

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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?