The financial statements of TAL

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
Revenue	3,730.1	1,684.5	3,237.6	2,829.0
Revenue Deductions	—	0.0	0.0	0.0
Net Revenue	3,730.1	1,684.5	3,237.6	2,829.0
Cost of Goods Sold	2,337.3	1,264.5	2,347.5	2,055.1
Gross Profit	1,392.9	419.9	890.2	773.9
Financial Income	39.8	921.8	85.1	66.1
Financial Expenses	178.5	201.2	99.2	19.4
Interest Expense	159.0	171.9	75.9	15.0
Share of Associates and Joint Ventures	0.4	0.3	0.2	0.7
Selling Expenses	159.4	56.7	85.1	209.0
General and Administrative Expenses	252.3	195.8	178.2	140.4
Operating Profit	842.8	888.3	612.9	471.9
Other Income	45.4	4.5	22.1	11.0
Other Expenses	17.9	17.2	7.6	9.2
Other Profit	27.5	-12.7	14.4	1.9
Profit Before Tax	870.3	875.6	627.3	473.7
Current Income Tax Expense	238.3	194.7	151.6	108.7
Deferred Income Tax Expense	-41.3	-4.2	3.1	-4.7
Net Income	673.2	685.1	472.7	369.7
Non-controlling Interest	30.5	20.3	15.9	12.7
Profit Attributable to Parent	642.8	664.8	456.8	357.0
Earnings per Share VND per share	1,939.00	2,147.00	1,522.00	1,322.29
Diluted EPS VND per share	1,939.00	2,147.00	1,522.00	1,322.29

Item	2025	2024	2023	2022
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	12,572.4	6,174.1	5,706.2	4,165.1
I. Cash and cash equivalents	1,261.5	459.7	289.0	466.2
1. Cash	227.1	142.3	75.8	268.2
2. Cash equivalents	1,034.4	317.4	213.3	198.0
II. Short-term financial investments	276.4	113.3	77.9	76.6
1. Available for sale securities	—	0.0	0.0	13.9
2. Provision for diminution in value of available for sale securities (*)	—	0.0	0.0	-2.1
3. Held to maturity investments	276.4	113.3	77.9	64.8
III. Short-term receivables	3,526.2	1,402.2	1,357.9	1,018.1
1. Short-term trade accounts receivable	1,645.8	597.0	872.5	449.8
2. Short-term prepayments to suppliers	1,211.7	362.8	308.6	182.1
3. Short-term inter-company receivables	—	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	0.0	0.0	0.0
5. Short-term loan receivables	300.6	141.0	117.6	336.5
6. Other short-term receivables	376.3	313.5	69.0	58.8
7. Provision for short-term doubtful debts (*)	-8.0	-12.1	-9.8	-9.1
8. Assets awaiting resolution	—	0.0	0.0	0.0
IV. Inventories	7,305.5	4,078.8	3,841.0	2,440.4
1. Inventories	7,305.5	4,078.8	3,841.0	2,440.4
2. Provision for decline in value of inventories	—	0.0	0.0	0.0
V. Other short-term assets	202.7	120.1	140.4	163.9
1. Short-term prepayments	118.7	17.6	21.5	30.5
2. Value added tax to be reclaimed	77.7	102.4	116.0	133.4
3. Taxes and other receivables from state authorities	6.3	0.1	2.9	0.0
4. Government bonds	—	0.0	0.0	0.0
5. Other short-term assets	—	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	2,740.7	3,150.0	4,231.6	3,676.6
I. Long-term receivables	419.9	620.0	1,033.6	813.8
1. Long-term trade receivables	—	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	0.0	0.0	0.0
3. Capital at inter-company	—	0.0	0.0	0.0
4. Long-term inter-company receivables	—	0.0	0.0	0.0
5. Long-term loan receivables	—	128.1	831.2	664.1
6. Other long-term receivables	434.2	506.2	216.7	156.9
7. Provision for long-term doubtful debts	-14.3	-14.3	-14.3	-7.1
II. Fixed assets	835.8	853.9	571.0	125.8
1. Tangible fixed assets	557.7	566.4	554.6	124.8
- Cost	687.0	663.2	623.6	175.6
- Accumulated depreciation	-129.4	-96.8	-69.0	-50.8
2. Financial leased fixed assets	—	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0
3. Intangible fixed assets	278.1	287.4	16.5	1.1
- Cost	300.5	300.0	18.8	3.0
- Accumulated depreciation	-22.4	-12.6	-2.3	-1.9
III. Investment properties	306.3	318.9	330.7	296.7
- Cost	392.6	392.6	392.6	369.2
- Accumulated depreciation	-86.3	-73.8	-62.0	-72.5
IV. Long-term assets in progress	1,016.8	1,191.8	1,955.5	2,329.7
1. Long-term production in progress	—	0.0	316.0	305.5
2. Construction in progress	1,016.8	1,191.8	1,639.5	2,024.2
V. Long-term financial investments	14.2	36.5	45.0	32.4
1. Investments in subsidiaries	—	0.0	0.0	0.0
2. Investments in associates, joint-ventures	3.4	2.6	7.7	16.5
3. Investments in other entities	17.1	40.2	45.3	23.9
4. Provision for diminution in value of long-term investments	-6.3	-6.3	-8.0	-8.0
5. Held to maturity investments	—	0.0	0.0	0.0
6. Other long-term investments	—	0.0	0.0	0.0
VI. Other long-term assets	147.7	129.0	295.8	78.3
1. Long-term prepayments	55.5	68.4	96.3	15.8
2. Deferred income tax assets	59.6	21.0	21.9	25.5
3. Long-term equipment, supplies, spare parts	—	0.0	0.0	0.0
4. Other long-term assets	—	0.0	0.0	0.0
5. Goodwill	32.6	39.7	177.7	36.9
VII. Goodwill (before 2015)	—	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	15,313.0	9,324.1	9,937.8	7,841.8
A. LIABILITIES (300=210+330)	8,799.0	5,099.9	5,949.7	4,058.6
I. Short -term liabilities	5,249.4	2,084.2	3,468.3	3,576.6
1. Short-term trade accounts payable	444.7	426.4	474.4	1,242.3
2. Short-term advances from customers	2,446.2	132.8	25.7	215.0
3. Taxes and other payables to state authorities	397.8	220.8	457.2	170.1
4. Payable to employees	38.1	32.2	32.6	25.0
5. Short-term acrrued expenses	525.6	119.8	230.0	364.0
6. Short-term inter-company payables	—	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	0.0	0.0	0.0
8. Short-term unearned revenue	9.5	9.4	9.0	4.5
9. Other short-term payables	247.3	309.3	1,105.9	611.5
10. Short-term borrowings and financial leases	1,103.5	805.0	1,126.2	939.3
11. Provision for short-term liabilities	—	0.0	0.0	0.0
12.. Bonus and welfare fund	36.5	28.6	7.3	5.0
13. Price stabilization fund	—	0.0	0.0	0.0
14. Government bonds	—	0.0	0.0	0.0
II. Long-term liabilities	3,549.6	3,015.7	2,481.4	482.0
1. Long-term trade payables	—	0.0	0.0	0.0
2. Long-term advances from customers	—	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	26.1
4. Inter-company payables on business capital	—	0.0	0.0	0.0
5. Long-term inter-company payables	—	0.0	0.0	0.0
6. Long-term unearned revenue	22.3	25.9	29.4	0.0
7. Other long-term liabilities	142.4	127.9	214.6	136.8
8. Long-term borrowings and financial leases	3,223.8	2,694.7	2,136.7	226.5
9. Convertible bonds	—	0.0	0.0	0.0
10. Preferred stock (Debts) VND per share	—	0.00	0.00	0.00
11. Deferred income tax liabilities	140.7	143.3	90.4	91.3
12. Provision for long-term liabilities	20.4	23.9	10.3	1.3
13. Fund for technology development	—	0.0	0.0	0.0
14. Provision for severance allowances	—	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	6,514.1	4,224.2	3,988.1	3,783.2
I. Owner's equity	6,514.1	4,224.2	3,988.1	3,783.2
1. Owner's capital	3,600.0	2,970.0	2,970.0	2,700.0
- Common stock with voting right VND per share	3,600,000,000,000.00	2,970,000,000,000.00	2,970,000,000,000.00	2,700,000,000,000.00
- Preferred stock VND per share	—	0.00	0.00	0.00
2. Share premium	1,120.2	109.5	109.5	109.5
3. Convertible bond option	—	0.0	0.0	0.0
4. Other capital of owners	—	0.0	0.0	0.0
5. Treasury shares VND per share	—	0.00	0.00	0.00
6. Assets revaluation differences	—	0.0	0.0	0.0
7. Foreign exchange differences	—	0.0	0.0	0.0
8. Investment and development fund	—	0.0	0.0	0.0
9. Fund to support corporate restructuring	—	0.0	0.0	0.0
10. Other funds from owner's equity	6.3	6.3	6.3	6.3
11. Undistributed earnings after tax	801.9	639.9	447.8	403.3
- Accumulated retained earning at the end of the previous period	172.4	2.4	79.3	50.5
- Undistributed earnings in this period	629.4	637.6	368.5	352.8
12. Reserves for investment in construction	—	0.0	0.0	0.0
13. Minority's interest	985.7	498.5	454.6	564.1
14. Financial reserves	—	0.0	0.0	0.0
II. Other resources and funds	—	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	0.0	0.0	0.0
2. Funds invested in fixed assets	—	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	15,313.0	9,324.1	9,937.8	7,841.8

Item	2025	2024	2023	2022
Profit Before Tax	870.3	875.6	627.3	473.7
Depreciation of Fixed Assets and Investment Property	64.1	59.6	36.7	29.3
Provision (Increase)/Reversal	-7.1	15.3	5.8	16.3
FX Gain/Loss from Revaluation of Monetary Items	—	0.0	0.0	0.0
Gain/Loss from Investment Activities	-40.2	-922.1	-78.4	-66.5
Interest Expense	163.2	171.9	75.9	15.0
Gain/Loss on Disposal of Fixed Assets	—	0.0	0.0	0.0
Interest Income and Dividends	—	0.0	0.0	0.0
Amortization of Goodwill	—	0.0	0.0	0.0
Other Adjustments	—	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	1,050.3	200.3	667.2	467.8
Increase/(Decrease) in Receivables	-2,072.8	89.5	-436.5	105.0
Increase/(Decrease) in Inventory	-2,847.2	-497.2	-1,287.8	-202.7
Increase/(Decrease) in Payables (Excl. Interest and CIT)	2,827.8	-1,210.9	67.9	-451.9
Increase/(Decrease) in Prepaid Expenses	-89.3	23.0	-36.2	36.1
Changes in Trading Securities	—	0.0	13.9	-13.9
Interest Paid	-319.2	-313.8	-123.3	-111.9
Corporate Income Tax Paid	-194.7	-80.0	-173.4	-44.4
Other Operating Receipts	—	0.0	0.0	0.0
Other Operating Payments	-9.1	-5.9	-3.2	-2.6
Net Cash Flow from Operating Activities	-1,654.2	-1,795.0	-1,311.6	-218.5
Payments for Fixed Assets and Other Long-term Assets	-58.9	-791.0	-610.7	-153.8
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.3	0.1	0.0	0.8
Loans and Purchases of Debt Instruments	-510.5	-155.5	-280.7	-591.8
Receipts from Loan Repayments and Sale of Debt Instruments	316.0	799.8	225.4	344.2
Investments in Other Entities	-2.1	-16.8	-268.3	-115.3
Proceeds from Investments in Other Entities	148.5	2,217.1	4.0	147.3
Dividends and Interest Income Received	153.6	99.7	26.2	21.0
Increase/(Decrease) in Term Deposits	—	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	0.0	0.0	0.0
Other Investing Receipts	—	0.0	0.0	0.0
Other Investing Payments	—	0.0	0.0	0.0
Net Cash Flow from Investing Activities	47.0	2,153.4	-904.1	-347.6
Proceeds from Equity Issuance and Capital Contributions VND per share	2,088,773,680,000.00	642,590,000.00	11,502,000,000.00	759,427,504,950.00
Share Repurchases VND per share	—	-14,148,006,023.00	0.00	0.00
Proceeds from Borrowings	4,569.0	2,018.7	4,167.9	1,661.9
Repayment of Borrowings	-3,742.6	-1,736.4	-2,067.8	-1,657.0
Repayment of Finance Leases	—	0.0	0.0	0.0
Dividends Paid	-506.1	-456.5	-73.1	-3.3
Other Financing Receipts	—	0.0	0.0	0.0
Other Financing Payments	—	0.0	0.0	0.0
Net Cash Flow from Financing Activities	2,409.0	-187.7	2,038.5	761.0
Net Cash Flow During the Period	801.8	170.7	-177.2	194.8
Cash and Cash Equivalents at Beginning of Period	459.7	289.0	466.2	271.3
FX Difference from Revaluation	—	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	1,261.5	459.7	289.0	466.2

Item	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	886.3	692.8	1,559.2	1,238.2	556.9	375.9	435.1	310.7	599.3	309.0	2,550.1
Revenue Deductions	—	—	—	—	—	—	-0.1	0.1	-0.0	0.0	0.0
Net Revenue	886.3	692.8	1,559.2	1,238.2	556.9	375.9	435.3	310.6	599.3	309.0	2,550.1
Cost of Goods Sold	592.8	416.7	920.5	801.5	371.8	245.9	318.3	242.4	451.7	251.1	1,822.1
Gross Profit	293.5	276.1	638.6	436.7	185.2	129.9	116.9	68.2	147.6	57.9	728.0
Financial Income	28.3	17.0	10.7	16.9	12.5	6.0	543.2	258.1	9.6	14.1	28.7
Financial Expenses	30.2	32.2	41.0	43.0	51.2	42.7	69.8	36.4	64.8	16.7	60.1
Interest Expense	27.4	26.6	34.2	39.7	46.3	39.0	55.0	51.1	40.4	15.4	56.6
Share of Associates and Joint Ventures	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.0	0.1	0.1	0.6
Selling Expenses	33.8	4.5	58.9	54.8	34.3	11.5	22.7	17.6	11.0	2.6	69.2
General and Administrative Expenses	54.1	56.2	84.0	73.7	51.8	45.5	78.5	50.5	55.5	35.1	66.4
Operating Profit	203.8	200.3	465.5	282.2	60.3	36.3	489.2	221.8	26.0	17.7	561.4
Other Income	3.1	7.6	57.0	5.2	4.1	0.2	2.2	0.2	3.3	0.3	58.8
Other Expenses	4.3	3.8	31.6	2.9	3.8	1.1	3.1	7.7	3.0	1.1	2.9
Other Profit	-1.2	3.8	25.4	2.3	0.3	-0.9	-0.9	-7.6	0.3	-0.8	55.9
Profit Before Tax	202.6	204.2	490.9	284.5	60.7	35.3	488.3	214.3	26.4	16.9	617.4
Current Income Tax Expense	58.4	46.6	128.8	67.8	29.1	13.0	18.9	137.2	20.0	7.2	138.5
Deferred Income Tax Expense	-13.9	0.9	-29.4	-6.0	-6.1	0.1	-6.8	-108.0	-0.0	-0.4	2.5
Net Income	158.0	156.6	391.5	222.7	37.6	22.3	476.2	185.1	6.4	10.2	476.4
Non-controlling Interest	16.5	4.5	2.0	10.2	2.5	2.1	3.8	3.7	11.2	3.5	-6.7
Profit Attributable to Parent	141.5	152.1	389.5	212.5	35.1	20.2	472.5	181.4	-4.7	6.7	483.1
Earnings per Share VND per share	281.00	423.00	1,207.00	692.00	122.00	67.00	1,512.00	611.00	-15.95	23.00	1,626.47
Diluted EPS VND per share	281.00	423.00	1,207.00	692.00	122.00	67.00	2,122.00	611.00	-15.95	23.00	1,626.47

Item	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	18,165.0	14,151.9	12,568.8	10,260.5	9,595.4	6,301.9	6,213.1	6,531.1	5,521.5	5,492.9	5,672.3
I. Cash and cash equivalents	2,207.3	1,394.1	1,261.5	406.5	367.7	526.3	456.1	63.8	146.4	110.8	288.3
1. Cash	295.1	214.0	227.1	292.6	287.4	300.4	142.3	35.0	74.5	34.5	75.0
2. Cash equivalents	1,912.2	1,180.1	1,034.4	113.9	80.4	225.9	313.8	28.8	71.8	76.3	213.3
II. Short-term financial investments	563.1	651.8	276.4	124.9	334.1	153.4	116.9	116.9	61.8	71.8	77.9
1. Available for sale securities	—	—	—	—	—	—	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
3. Held to maturity investments	563.1	651.8	276.4	124.9	334.1	153.4	116.9	116.9	61.8	71.8	77.9
III. Short-term receivables	3,390.4	3,773.6	3,522.8	2,307.2	1,441.8	1,508.8	1,414.2	1,263.9	1,429.7	1,258.9	1,352.6
1. Short-term trade accounts receivable	927.0	1,403.0	1,645.8	1,136.0	408.6	488.8	592.6	581.0	761.1	549.9	877.0
2. Short-term prepayments to suppliers	1,530.2	1,869.6	961.7	620.7	530.3	498.4	380.9	287.5	280.5	272.7	308.6
3. Short-term inter-company receivables	—	—	—	—	—	—	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
5. Short-term loan receivables	—	—	300.5	300.1	245.0	144.0	141.1	184.0	159.5	82.8	117.6
6. Other short-term receivables	941.3	509.0	622.9	260.9	268.9	389.8	311.7	221.2	238.4	363.3	68.6
7. Provision for short-term doubtful debts (*)	-8.0	-8.0	-8.0	-10.5	-10.9	-12.1	-12.1	-9.8	-9.8	-9.8	-19.2
8. Assets awaiting resolution	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
IV. Inventories	11,648.2	8,043.6	7,305.4	7,263.6	7,306.5	3,968.3	4,096.8	4,964.5	3,754.4	3,903.5	3,813.7
1. Inventories	11,648.2	8,043.6	7,305.4	7,263.6	7,306.5	3,968.3	4,096.8	4,964.5	3,754.4	3,903.5	3,813.7
2. Provision for decline in value of inventories	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
V. Other short-term assets	356.0	288.9	202.7	158.3	145.3	145.2	129.0	122.0	129.2	148.0	139.8
1. Short-term prepayments	236.6	165.1	118.7	83.6	33.9	33.7	18.7	13.7	17.3	19.0	20.3
2. Value added tax to be reclaimed	100.2	85.2	77.7	70.1	108.3	110.5	110.2	108.2	111.9	128.9	115.7
3. Taxes and other receivables from state authorities	11.7	9.9	6.3	4.6	3.1	1.0	0.1	0.1	0.1	0.1	3.9
4. Government bonds	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
5. Other short-term assets	7.6	28.6	—	—	—	—	0.0	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	3,558.8	2,785.3	2,743.3	2,835.8	2,818.3	3,262.7	3,131.2	2,895.0	4,147.3	4,040.6	4,503.7
I. Long-term receivables	1,091.1	419.9	423.3	512.0	511.9	658.4	619.9	565.7	519.0	795.1	1,040.2
1. Long-term trade receivables	—	—	—	—	—	—	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
3. Capital at inter-company	—	—	—	—	—	—	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
5. Long-term loan receivables	—	—	0.1	0.1	0.1	128.1	128.0	128.0	318.2	597.9	831.2
6. Other long-term receivables	1,105.4	434.2	437.5	526.1	526.1	544.6	506.2	452.0	215.0	211.5	216.2
7. Provision for long-term doubtful debts	-14.3	-14.3	-14.3	-14.3	-14.3	-14.3	-14.3	-14.3	-14.3	-14.3	-7.1
II. Fixed assets	831.7	835.9	835.0	842.3	842.3	847.1	853.6	582.0	589.3	583.9	830.3
1. Tangible fixed assets	557.8	560.3	557.7	561.8	559.3	562.0	566.4	563.7	571.5	567.7	812.2
- Cost	706.6	698.8	—	—	—	—	663.2	654.7	654.7	643.8	944.4
- Accumulated depreciation	-148.8	-138.6	—	—	—	—	-96.8	-91.0	-83.1	-76.1	-132.2
2. Financial leased fixed assets	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
- Cost	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	273.9	275.7	277.4	280.5	283.0	285.1	287.2	18.4	17.8	16.2	18.1
- Cost	300.7	300.6	—	—	—	—	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-26.8	-24.9	—	—	—	—	0.0	0.0	0.0	0.0	0.0
III. Investment properties	309.4	303.2	306.3	309.5	312.6	315.7	318.9	322.0	325.2	328.3	280.2
- Cost	401.7	392.6	—	—	—	—	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-92.3	-89.4	—	—	—	—	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	1,154.6	1,070.2	1,016.8	1,031.2	1,013.4	1,307.1	1,173.9	1,026.0	2,397.2	2,001.4	2,172.5
1. Long-term production in progress	—	—	—	—	—	—	0.0	0.0	317.4	316.9	316.0
2. Construction in progress	1,154.6	1,070.2	1,016.8	1,031.2	1,013.4	1,307.1	1,173.9	1,026.0	2,079.7	1,684.5	1,856.5
V. Long-term financial investments	14.2	14.1	14.2	14.2	14.1	13.3	36.5	36.4	47.8	45.0	45.0
1. Investments in subsidiaries	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	3.5	3.3	3.4	3.5	3.4	2.6	2.6	2.5	7.8	7.8	7.7
3. Investments in other entities	17.1	17.1	17.1	17.1	17.1	17.1	40.2	41.3	47.9	45.3	45.3
4. Provision for diminution in value of long-term investments	-6.3	-6.3	-6.3	-6.3	-6.3	-6.3	-6.3	-7.4	-8.0	-8.0	-8.0
5. Held to maturity investments	—	—	—	—	—	—	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
VI. Other long-term assets	157.7	142.0	147.7	126.7	124.0	121.1	128.5	362.8	269.0	112.2	103.4
1. Long-term prepayments	56.7	52.9	55.5	61.6	61.7	62.6	68.4	74.0	80.3	90.1	81.6
2. Deferred income tax assets	71.4	58.0	59.6	31.0	25.7	20.3	20.4	126.9	21.9	22.1	21.8
3. Long-term equipment, supplies, spare parts	—	—	—	—	—	—	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
5. Goodwill	29.6	31.1	32.6	34.1	36.6	38.2	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	—	—	—	—	—	39.7	161.9	166.8	174.6	32.1
TOTAL ASSETS (280=100+200)	21,723.8	16,937.2	15,312.1	13,096.4	12,413.7	9,564.6	9,344.2	9,426.1	9,668.8	9,533.5	10,176.0
A. LIABILITIES (300=210+330)	15,145.0	10,266.5	8,783.6	6,951.6	8,119.6	5,169.6	5,126.8	5,715.2	5,688.8	5,544.9	6,039.0
I. Short -term liabilities	11,335.0	6,390.9	5,232.8	3,702.0	3,870.4	2,070.0	1,986.0	2,447.2	2,877.0	2,794.8	3,288.8
1. Short-term trade accounts payable	558.9	388.3	444.7	324.5	373.0	371.6	408.1	376.3	439.8	430.1	476.7
2. Short-term advances from customers	4,572.9	3,304.1	2,446.2	1,215.8	295.6	199.3	132.7	74.8	135.9	63.3	25.9
3. Dividends and profits payable	5.3	2.2	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	3,835.7	410.8	398.1	402.5	1,316.7	196.7	219.2	204.3	225.3	197.0	481.1
4. Payable to employees	21.5	16.7	34.2	20.1	19.0	15.3	30.6	18.8	18.7	14.5	31.8
5. Short-term acrrued expenses	642.4	888.9	530.7	414.0	147.6	103.7	146.9	177.1	197.6	127.5	227.9
6. Short-term inter-company payables	—	—	—	—	—	—	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
8. Short-term unearned revenue	8.4	8.7	9.5	9.7	9.5	9.4	9.4	9.7	9.3	8.4	9.6
9. Other short-term payables	284.3	287.4	246.3	440.1	809.3	332.9	214.6	727.7	1,103.5	1,089.3	888.6
10. Short-term borrowings and financial leases	1,363.6	1,042.2	1,103.5	855.6	880.0	821.4	766.8	846.6	744.9	863.0	1,126.2
11. Provision for short-term liabilities	15.4	15.1	—	—	—	—	28.8	10.1	0.0	0.0	0.0
12.. Bonus and welfare fund	26.5	26.5	19.5	19.7	19.7	19.7	28.9	1.8	1.8	1.8	20.9
13. Price stabilization fund	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
14. Government bonds	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
II. Long-term liabilities	3,810.1	3,875.7	3,550.8	3,249.6	4,249.3	3,099.6	3,140.8	3,268.0	2,811.8	2,750.2	2,750.2
1. Long-term trade payables	—	—	—	—	—	—	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
3. Long-term acrrued expenses	—	—	—	—	—	—	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
5. Long-term inter-company payables	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	20.0	21.4	22.3	23.2	24.1	25.0	25.9	26.8	27.7	29.4	28.9
7. Other long-term liabilities	303.4	152.7	143.8	130.1	131.6	127.9	224.5	223.6	224.8	220.3	411.6
8. Long-term borrowings and financial leases	3,343.6	3,557.9	3,223.8	2,930.8	3,925.8	2,778.3	2,732.9	2,917.5	2,449.0	2,400.0	2,136.7
9. Convertible bonds	—	—	—	—	—	—	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
11. Deferred income tax liabilities	139.5	140.0	140.5	141.3	142.0	142.7	143.3	89.7	90.0	90.2	172.8
12. Provision for long-term liabilities	3.7	3.7	20.4	24.1	25.8	25.8	14.2	10.4	20.4	10.2	0.3
13. Fund for technology development	—	—	—	—	—	—	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
B. OWNER'S EQUITY (400=410+430)	6,578.8	6,670.7	5,555.6	6,144.8	4,294.1	4,395.0	4,217.5	3,710.9	3,980.0	3,988.6	4,137.1
I. Owner's equity	6,578.8	6,670.7	5,555.6	6,144.8	4,294.1	4,395.0	4,217.5	3,710.9	3,980.0	3,988.6	4,137.1
1. Owner's capital	5,040.0	3,600.0	3,600.0	3,600.0	3,118.5	3,118.5	2,970.0	2,970.0	2,970.0	2,970.0	2,970.0
- Common stock with voting right VND per share	5,039,997,080,000.00	3,600,000,000,000.00	3,600,000,000,000.00	3,600,000,000,000.00	3,118,500,000,000.00	3,118,500,000,000.00	2,970,000,000,000.00	2,970,000,000,000.00	2,970,000,000,000.00	2,970,000,000,000.00	2,970,000,000,000.00
- Preferred stock VND per share	—	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00
2. Share premium	40.2	1,120.2	1,120.2	1,120.2	109.5	109.5	109.5	109.5	109.5	109.5	109.5
3. Convertible bond option	—	—	—	—	—	—	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
5. Treasury shares VND per share	—	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00
6. Assets revaluation differences	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
9. Fund to support corporate restructuring	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	6.3	6.3	6.3	6.3	6.3	6.3	6.3	6.3	6.3	6.3	6.3
11. Undistributed earnings after tax	527.5	954.0	829.1	440.1	227.5	660.2	621.2	187.2	450.1	484.4	467.9
- Accumulated retained earning at the end of the previous period	233.8	801.9	187.4	172.4	172.2	639.9	-8.5	2.4	448.5	478.1	99.3
- Undistributed earnings in this period	293.7	152.1	641.7	267.7	55.4	20.2	629.7	184.8	1.6	6.3	368.6
12. Reserves for investment in construction	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	964.7	990.2	—	978.3	832.2	500.5	510.5	437.9	444.1	418.4	583.4
14. Financial reserves	—	—	—	—	—	—	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
1. Subsidized not-for-profit funds	—	—	—	—	—	—	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
C. MINORITY'S INTEREST	—	—	972.9	—	—	—	0.0	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	21,723.8	16,937.2	15,312.1	13,096.4	12,413.7	9,564.6	9,344.2	9,426.1	9,668.8	9,533.5	10,176.0

Item	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Profit Before Tax	202.6	204.2	488.7	284.5	61.8	35.3	488.3	214.3	28.3	16.9	627.3
Depreciation of Fixed Assets and Investment Property	16.5	16.3	13.0	19.2	16.4	15.5	11.5	16.4	17.3	14.5	36.7
Provision (Increase)/Reversal	0.4	15.1	-5.7	0.1	-3.4	1.9	23.7	0.1	9.5	0.0	5.8
FX Gain/Loss from Revaluation of Monetary Items	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-28.3	-17.0	-5.8	-17.1	-11.2	-6.1	-543.3	-258.2	-9.6	-14.2	-78.4
Interest Expense	27.4	26.6	37.6	39.7	46.8	39.0	51.5	48.8	56.5	15.4	75.9
Gain/Loss on Disposal of Fixed Assets	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
Other Adjustments	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	218.6	245.1	527.8	326.5	110.4	85.6	31.7	21.4	102.0	32.6	667.2
Increase/(Decrease) in Receivables	-285.7	-615.7	-1,363.2	-626.9	30.8	-113.6	155.0	227.4	-319.7	26.3	-436.5
Increase/(Decrease) in Inventory	-3,552.2	-689.0	5.1	116.1	-3,078.9	110.5	-1,097.0	-821.9	92.5	53.4	-1,287.8
Increase/(Decrease) in Payables (Excl. Interest and CIT)	4,635.3	1,249.8	1,323.7	102.6	1,400.3	1.2	164.7	-39.7	-233.2	-120.6	67.9
Increase/(Decrease) in Prepaid Expenses	-75.3	-43.7	-26.1	-55.8	3.1	-10.4	0.6	9.6	3.2	8.5	-36.2
Changes in Trading Securities	—	—	—	—	—	—	0.0	0.0	0.0	0.0	13.9
Interest Paid	-81.3	-71.4	-77.0	-98.9	-74.7	-68.6	-64.9	-90.1	-54.5	-104.1	-123.3
Corporate Income Tax Paid	-185.1	-14.4	-1.0	-0.1	-149.5	-44.1	-0.7	-51.3	-11.4	-16.7	-173.4
Other Operating Receipts	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	0.0	-10.0	-0.2	0.0	0.0	-8.9	0.0	0.0	-0.7	-4.8	-3.2
Net Cash Flow from Operating Activities	674.2	50.6	389.0	-236.4	-1,758.5	-48.2	-810.5	-744.7	-421.8	-125.5	-1,311.6
Payments for Fixed Assets and Other Long-term Assets	159.6	-161.7	-24.7	-16.0	82.3	-100.5	-23.2	-439.5	310.0	-354.6	-610.7
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	—	0.0	0.2	0.0	0.0	2.3	0.0	0.6	-0.6	0.0
Loans and Purchases of Debt Instruments	-170.9	-80.1	-278.1	142.9	-330.7	-44.6	8.9	-52.9	-78.1	0.0	-280.7
Receipts from Loan Repayments and Sale of Debt Instruments	264.4	39.5	254.2	-116.8	177.0	1.6	16.2	181.4	290.4	274.8	225.4
Investments in Other Entities	-90.1	—	—	—	—	—	3.7	-24.7	-2.6	0.0	-268.3
Proceeds from Investments in Other Entities	—	—	125.5	-0.2	23.1	—	1,452.1	772.4	0.0	-5.3	4.0
Dividends and Interest Income Received	25.9	11.6	5.9	7.7	136.4	3.6	17.6	58.9	6.8	25.4	26.2
Increase/(Decrease) in Term Deposits	—	—	—	—	—	—	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
Other Investing Receipts	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
Other Investing Payments	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	188.9	-190.7	82.8	16.5	64.5	-116.9	1,477.7	495.7	527.1	-60.3	-904.1
Proceeds from Equity Issuance and Capital Contributions VND per share	20,000,000,000.00	—	—	—	—	—	221,910,000.00	330,680,000.00	0.00	0.00	11,502,000,000.00
Share Repurchases VND per share	—	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00
Proceeds from Borrowings	361.2	474.7	860.1	1,551.8	1,817.8	339.2	303.9	1,079.8	491.9	493.7	4,167.9
Repayment of Borrowings	-254.1	-202.0	-319.3	-2,571.7	-611.7	-240.0	-569.5	-470.4	-560.8	-486.0	-2,067.8
Repayment of Finance Leases	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
Dividends Paid	-177.0	—	-157.6	-330.5	-2.5	-15.6	-9.6	-443.3	-0.8	-0.2	-73.1
Other Financing Receipts	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
Other Financing Payments	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	-49.9	272.7	383.2	258.6	1,535.5	231.7	-274.9	166.5	-69.7	7.5	2,038.5
Net Cash Flow During the Period	813.2	132.6	855.0	38.7	-158.6	66.6	392.3	-82.5	35.6	-178.3	-177.2
Cash and Cash Equivalents at Beginning of Period	1,394.1	1,261.5	406.5	367.7	526.3	459.7	289.0	289.0	289.0	289.0	466.2
FX Difference from Revaluation	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	2,207.3	1,394.1	1,261.5	406.5	367.7	526.3	456.1	63.8	146.4	110.8	289.0

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