The financial statements of VNR

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

Item	2025	2024
1. Insurance premium (01=01.1+01.2-01.3)	3,410.1	2,900.6
- Gross written premium	—	3,153.3
- Reinsurance premium assumed	3,660.2	3,153.3
- Increase/(Decrese) in gross unearned premium reserve	250.1	252.7
2. Reinsurance premium ceded	1,473.9	1,351.5
- Reinsurance premium ceded	1,534.3	1,413.3
-Increase/(Decrease) in ceded unearned premium reserve	60.3	61.8
3. Net insurance premium (03=01-02)	1,936.1	1,549.1
4. Commission on reinsurance ceded and other insurance income (04=04.1+04.2)	462.3	354.4
- Commissions on reinsurance ceded	434.6	326.3
5. Total net revenue from insurance business (10=03+04)	2,398.4	1,903.4
6. Claim expenses on retained risks	1,302.5	1,204.8
Total claim expenses	1,302.5	1,204.8
+ Claim and maturity payment expenses	1,302.5	1,204.8
7. Recoveries from reinsurance ceded	623.6	633.0
8. Increase(Decrease) in claim reserves for direct insurance and reinsurance assumed	117.6	300.9
9. Increase(Decrease) in claim reserves related to reinsurance ceded	-34.1	85.3
9.1. Increase in claim reserve	151.7	215.6
Total claim insurance expenses	830.6	787.4
11. Provision for catastrophe reserve	21.3	6.4
12. Other insurance operating expenses	1,370.8	943.4
+ Commission	1,291.1	886.2
Other insurance operating expenses	79.8	57.2
- Other underwriting expenses	79.8	57.2
+ Others	31.8	26.7
13. Total direct insurance operating expenses	2,222.7	1,737.2
14. Gross insurance operating profit	175.7	166.3
18. Revenue from financial activities	472.1	425.2
19. Expenses on financial activities	31.8	26.7
20. Profit from financial activities	440.4	398.5
21. Administrative expenses	129.2	123.3
22. Operating profit	498.9	446.0
23. Other incomes	1.4	2.7
24. Other expenses	1.1	0.9
25. Other profits	0.3	1.7
Share of profitin associates and joint ventures	26.3	33.1
26. Total profit	525.4	480.9
29. Total profit before tax (55=44+50+53+54)	525.4	480.9
Taxable profit	525.4	480.9
27. Current corporate income tax expenses	85.3	76.7
28. Deferred income tax expenses (*)	0.9	-0.2
29. Profit after tax	439.2	404.5
30. Minority interest	2.0	-0.5
31. Profit after tax for shareholders of the parent compan	437.2	404.9
32. Earning per share VND per share	2,112.00	2,157.00

Item	2025	2024
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	6,778.8	5,466.5
I. Cash and cash equivalents	58.4	145.4
1. Cash	7.4	95.4
2. Cash equivalents	51.0	50.0
II. Short-term investments	3,351.1	2,359.3
1. Short-term investments	0.2	0.2
2. Provision for diminution in value of short-term investments	-0.2	-0.2
3. Held to maturity investments	3,351.1	2,359.3
III. Short-term receivables	834.4	765.8
1. Trade accounts receivable	660.6	624.2
1.1. Insurance contract receivables	660.6	624.2
12. Other receivables of customers	—	0.0
2. Prepayments to suppliers	0.2	0.2
5. Other receivables	225.5	187.2
6. Provision for short-term doubtful debts	-52.0	-45.8
IV. Inventories	0.1	0.1
1. Inventories	0.1	0.1
V. Other short-term assets	779.0	497.3
1. Short-term prepayments	777.5	496.2
1.1. Unallocated commissions expenses	777.2	495.9
1.2. Other short-term prepaid expenses	0.3	0.3
2. Value Added Tax to be reclaimed	1.5	1.1
VIII. Reinsurance assets	1,755.9	1,698.7
1. Reinsurance assets from unearned premium reserves	762.3	702.0
2. Reinsurance assets from claim reserves	993.6	996.7
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	2,837.4	3,311.0
I. Long-term receivables	28.5	30.5
6. Other long-term receivables	28.5	30.5
6.2. Other long-term receivables	0.5	2.5
II. Fixed assets	17.4	20.3
1. Tangible fixed assets	8.1	10.2
- Cost	38.7	37.2
- Accumulated depreciation	-30.6	-27.1
3. Intangible fixed assets	9.3	10.2
- Cost	18.7	16.4
- Accumulated depreciation	-9.4	-6.2
III. Investment properties	—	1.0
- Cost	34.1	—
- Accumulated depreciation	-34.1	1.0
IV. Long-term assets in progress	—	6.2
1. Construction in progress	—	6.2
IV. Long-term investments	2,779.7	3,241.7
2. Investments in associates, joint-ventures	391.2	378.5
3. Investments in other entities	303.2	309.3
5. Held to maturity investments	2,085.3	2,553.9
VI. Other long-term assets	11.8	11.3
1. Long-term prepayments	2.2	0.8
2. Deferred income tax assets	1.7	2.7
4. Other long-term assets	7.9	7.9
TOTAL ASSETS (270=100+200)	9,616.2	8,777.6
A. LIABILITIES (300=210+330)	5,428.5	4,833.1
I. Short -term liabilities	5,424.4	4,831.4
2. Trade accounts payable	841.6	758.0
2.1. Insurance contract payable	840.5	756.9
2.2. Other payables to suppliers	1.1	1.1
3. Advances from customers	0.2	0.4
4. Taxes and other payables to state authorities	27.3	16.3
5. Payable to employees	41.3	33.6
6. Accrued expenses	1.1	—
8. Other payables	63.9	66.6
9. Unearned commission revenues	256.0	176.9
11. Bonus and welfare fund	34.2	29.1
131. Unearned premium reserve	1,796.0	1,545.9
132. Claim reserve	2,124.2	1,970.1
133. Catastrophe reserve	238.7	217.4
II. Long-term liabilities	4.0	1.7
3. Other long-term liabilities	1.5	1.7
B. OWNER'S EQUITY (400=410+430)	4,187.7	3,944.5
I. Owner's equity	4,187.7	3,944.5
1. Capital from owners	2,006.3	1,823.9
- Common stock with voting right VND per share	2,006,302,480,000.00	1,823,914,550,000.00
2. Share premium	369.8	369.8
7. Investment and development fund	206.1	—
9. Compulsory reserves	200.6	182.4
11. Undistributed earnings after tax	1,369.5	1,328.8
- Accumulated retained earning at the end of the previous period	964.0	952.0
- Undistributed earnings in this period	405.4	376.8
12. Minority's interest	35.5	33.5
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	9,616.2	8,777.6

Item	2025	2024
Income tax paid	-74.2	-74.9
Other receipts from operating activities	43.1	17.4
Other payments for operating activities	-55.2	-45.0
Net cash flows from operating activities	188.2	326.7
1. Payment for fixed assets, constructions and other long-term assets	-1.8	-6.0
2. Receipts from disposal of fixed assets and other long-term assets	—	0.2
4. Receipts from loan repayments, sale of other entities' debt instruments	1,976.5	2,092.2
5. Payments for investment in other entities	-2,441.7	-2,712.9
7. Dividends, interest and profit received	373.3	541.9
Net cash flows from investing activities	-93.8	-84.6
6. Dividends paid, profits distributed to owners	-182.4	-165.8
Net cash flows from financing activities	-182.4	-165.8
Net cash flows during the period	-88.0	76.3
Cash and cash equivalents at beginning of the period	145.4	67.5
Exchange difference due to re-valuation of ending balances	0.9	1.7
Cash and cash equivalents at end of the period	58.4	145.4

Item	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
1. Insurance premium (01=01.1+01.2-01.3)	892.2	1,201.0	675.6	821.3	821.3	1,092.0	654.6	725.6	729.8	790.6
- Reinsurance premium assumed	889.5	1,486.7	561.2	853.3	854.2	1,391.5	691.4	765.8	785.2	910.9
- Increase/(Decrese) in gross unearned premium reserve	-2.6	285.7	-114.4	32.0	33.0	299.6	36.8	40.3	55.4	120.2
2. Reinsurance premium ceded	355.1	461.8	318.2	461.0	325.1	369.7	294.9	340.5	366.3	349.9
- Reinsurance premium ceded	327.0	540.0	283.9	568.4	296.9	385.0	267.3	359.2	409.9	376.8
-Increase/(Decrease) in ceded unearned premium reserve	-28.1	78.2	-34.4	107.5	-28.1	15.4	-27.6	18.7	43.7	26.9
3. Net insurance premium (03=01-02)	537.1	739.2	357.3	360.3	496.2	722.3	359.7	385.0	363.5	440.8
4. Commission on reinsurance ceded and other insurance income (04=04.1+04.2)	105.4	208.2	80.0	180.1	136.7	131.1	92.9	79.8	85.6	96.0
- Commissions on reinsurance ceded	102.5	203.0	77.1	176.7	83.2	97.7	88.6	77.7	80.1	79.9
5. Total net revenue from insurance business (10=03+04)	642.4	947.4	437.3	540.4	632.9	853.4	452.7	464.8	449.1	536.8
6. Claim expenses on retained risks	342.1	386.9	248.2	315.5	351.1	387.6	254.5	279.3	313.6	357.5
Total claim expenses	342.1	386.9	248.2	315.5	351.1	387.6	254.5	279.3	313.6	357.5
+ Claim and maturity payment expenses	342.1	386.9	248.2	315.5	351.1	387.6	254.5	279.3	313.6	357.5
7. Recoveries from reinsurance ceded	104.5	160.0	147.1	146.6	131.8	198.0	133.9	137.9	177.2	184.0
8. Increase(Decrease) in claim reserves for direct insurance and reinsurance assumed	12.6	132.5	1.4	52.7	59.7	3.8	-43.7	474.9	-66.2	-64.0
9. Increase(Decrease) in claim reserves related to reinsurance ceded	-6.1	84.5	-70.2	23.3	38.6	-25.8	-19.0	194.4	-47.6	-42.5
9.1. Increase in claim reserve	18.7	48.0	71.6	29.3	21.1	29.6	-24.8	280.5	-18.6	-21.5
Total claim insurance expenses	256.3	274.8	172.7	198.2	240.4	219.2	95.9	421.9	117.7	152.0
11. Provision for catastrophe reserve	5.6	9.5	2.8	2.9	5.6	10.1	-6.8	4.1	3.8	5.3
12. Other insurance operating expenses	359.0	612.6	199.0	296.2	347.7	593.6	233.2	199.0	214.2	297.0
+ Commission	357.9	578.5	194.7	275.9	281.2	539.3	226.0	205.1	196.7	258.4
Other insurance operating expenses	1.1	34.1	4.3	20.2	66.5	54.3	7.2	-6.2	17.4	38.6
- Other underwriting expenses	1.1	34.1	4.3	20.2	66.5	54.3	7.2	-6.2	17.4	38.6
+ Others	1.1	34.1	2.4	6.8	13.3	12.4	10.9	7.8	10.6	3.1
13. Total direct insurance operating expenses	620.9	896.9	374.5	497.2	593.7	822.9	322.3	624.9	335.7	454.3
14. Gross insurance operating profit	21.5	50.5	62.9	43.2	39.2	30.5	130.4	-160.1	113.5	82.4
18. Revenue from financial activities	188.2	91.8	116.5	121.6	149.0	85.0	91.5	96.8	110.6	126.3
19. Expenses on financial activities	27.2	-4.4	2.4	6.8	13.3	12.4	10.9	7.8	10.6	3.1
20. Profit from financial activities	161.0	96.1	114.2	114.8	135.7	72.6	80.5	89.1	100.0	123.2
21. Administrative expenses	37.1	27.3	32.5	34.2	28.6	28.4	35.2	-0.9	40.9	42.2
22. Operating profit	145.5	119.4	146.6	126.0	153.1	75.7	176.8	-68.7	173.2	164.8
23. Other incomes	2.4	2.4	0.3	0.3	0.5	0.4	1.5	0.3	0.7	0.2
24. Other expenses	0.4	0.2	0.3	0.3	0.3	0.2	0.2	0.3	0.2	0.2
25. Other profits	2.0	2.1	-0.1	-0.0	0.2	0.2	1.3	-0.0	0.5	-0.0
Share of profitin associates and joint ventures	13.5	8.0	3.0	7.1	8.5	10.3	4.1	4.8	11.6	12.6
26. Total profit	160.9	129.5	146.5	133.1	161.8	86.2	182.2	-63.9	185.4	177.4
29. Total profit before tax (55=44+50+53+54)	160.9	129.5	146.5	133.1	161.8	86.2	182.2	-63.9	185.4	177.4
Taxable profit	160.9	129.5	146.5	133.1	161.8	86.2	182.2	-63.9	185.4	177.4
27. Current corporate income tax expenses	25.7	24.2	26.6	25.0	17.8	15.9	30.7	-15.6	29.2	32.1
28. Deferred income tax expenses (*)	0.9	-0.0	1.1	-0.4	0.9	-0.1	0.3	-2.3	-0.3	2.1
29. Profit after tax	134.3	105.3	118.9	108.5	143.1	70.4	151.3	-46.0	156.4	143.2
30. Minority interest	0.3	0.3	1.6	0.3	2.0	-2.1	0.5	0.1	0.1	-1.1
31. Profit after tax for shareholders of the parent compan	134.1	105.0	117.3	108.2	141.1	72.5	150.8	-46.1	156.4	144.3
32. Earning per share VND per share	649.00	510.00	564.00	420.00	750.00	387.00	691.00	-277.00	915.00	845.00

Item	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	7,502.5	7,408.4	6,778.9	6,799.0	6,959.7	6,605.4	5,466.5	6,288.8	6,315.9	6,110.3
I. Cash and cash equivalents	62.2	70.2	58.4	99.0	184.8	51.1	95.4	77.6	52.2	16.5
1. Cash	32.2	70.2	7.4	99.0	9.3	51.1	95.4	67.9	19.2	16.5
2. Cash equivalents	30.0	—	51.0	—	175.5	—	—	9.7	33.0	—
II. Short-term investments	3,500.3	3,418.0	3,351.1	2,914.2	3,215.3	3,065.0	2,409.3	2,987.2	3,136.9	2,853.7
1. Short-term investments	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2
2. Provision for diminution in value of short-term investments	-0.2	-0.2	-0.2	-0.2	-0.2	-0.2	-0.2	-0.2	-0.2	-0.2
3. Held to maturity investments	3,500.3	3,418.0	3,351.1	2,914.2	3,215.3	3,065.0	2,409.3	2,987.2	3,136.9	2,853.7
III. Short-term receivables	1,122.0	1,035.1	834.4	1,104.0	1,031.2	1,000.2	765.8	1,016.4	1,165.0	1,280.9
1. Trade accounts receivable	924.4	962.6	660.6	878.7	835.6	785.3	624.2	798.6	885.2	975.0
1.1. Insurance contract receivables	924.4	962.6	660.6	878.7	835.6	785.0	624.2	798.5	885.1	974.8
12. Other receivables of customers	—	—	—	—	—	0.3	0.0	0.1	0.0	0.2
2. Prepayments to suppliers	0.5	0.5	0.2	0.6	1.0	0.4	0.2	0.5	0.7	1.0
5. Other receivables	253.0	125.1	225.5	281.1	248.9	267.5	187.2	259.9	324.4	348.4
6. Provision for short-term doubtful debts	-56.0	-53.1	-52.0	-56.4	-54.3	-52.9	-45.8	-42.7	-45.2	-43.5
IV. Inventories	0.1	0.1	0.1	0.1	0.1	0.1	0.1	3.8	3.8	3.8
1. Inventories	0.1	0.1	0.1	0.1	0.1	0.1	0.1	4.0	4.0	4.1
V. Other short-term assets	933.9	966.4	779.0	837.0	814.3	785.9	497.3	458.8	444.2	437.6
1. Short-term prepayments	932.4	964.9	777.5	835.4	812.8	784.0	496.2	441.7	442.7	436.2
1.1. Unallocated commissions expenses	930.7	962.7	777.2	834.3	810.8	782.0	495.9	440.6	441.1	434.4
1.2. Other short-term prepaid expenses	1.7	2.1	0.3	1.1	1.9	2.0	0.3	1.1	1.6	1.8
2. Value Added Tax to be reclaimed	1.6	1.5	1.5	1.6	1.6	1.8	1.1	1.5	1.5	1.4
3. Taxes and other receivables from state authorities	—	—	—	—	—	—	—	15.6	—	—
VIII. Reinsurance assets	1,884.0	1,918.5	1,755.9	1,844.7	1,714.0	1,703.2	1,698.7	1,745.1	1,513.8	1,517.8
1. Reinsurance assets from unearned premium reserves	812.4	840.5	762.3	796.7	689.2	717.4	702.0	729.5	710.8	667.2
2. Reinsurance assets from claim reserves	1,071.6	1,078.0	993.6	1,048.0	1,024.8	985.9	996.7	1,015.6	803.0	850.6
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	2,933.7	2,946.7	2,836.9	3,051.1	2,610.3	2,665.8	3,311.2	2,434.7	2,236.6	2,274.2
I. Long-term receivables	28.0	33.0	28.5	28.4	28.0	28.1	30.5	28.2	31.3	31.7
6. Other long-term receivables	28.0	33.0	28.5	28.4	28.0	28.1	30.5	28.2	31.3	31.7
6.2. Other long-term receivables	—	5.0	0.5	0.4	—	0.1	2.5	0.2	3.3	3.7
II. Fixed assets	13.7	15.3	17.4	15.8	17.5	18.9	20.3	20.8	22.2	23.6
1. Tangible fixed assets	6.2	6.9	8.1	7.9	8.9	9.5	10.2	9.9	10.5	11.1
- Cost	39.1	38.7	38.7	37.4	37.3	37.2	37.3	36.3	36.3	37.5
- Accumulated depreciation	-32.9	-31.8	-30.6	-29.5	-28.4	-27.7	-27.1	-26.4	-25.8	-26.4
3. Intangible fixed assets	7.5	8.4	9.3	7.8	8.6	9.4	10.2	10.9	11.7	12.5
- Cost	17.4	18.7	18.7	16.4	16.4	16.4	16.3	16.4	16.4	16.4
- Accumulated depreciation	-9.8	-10.3	-9.4	-8.6	-7.8	-7.0	-6.2	-5.4	-4.7	-3.9
III. Investment properties	—	—	—	—	0.0	0.5	1.0	1.4	1.9	2.3
- Cost	34.1	34.1	34.1	—	34.1	34.1	34.1	34.1	34.1	34.1
- Accumulated depreciation	-34.1	-34.1	-34.1	—	-34.0	-33.6	-33.1	-32.6	-32.2	-31.7
IV. Long-term assets in progress	—	—	—	16.1	3.1	5.5	6.2	6.0	5.9	6.4
1. Construction in progress	—	—	—	16.1	3.1	5.5	6.2	6.0	5.9	6.4
IV. Long-term investments	2,881.4	2,886.7	2,779.7	2,978.5	2,551.2	2,601.5	3,239.8	2,364.8	2,166.0	2,201.2
2. Investments in associates, joint-ventures	400.9	399.3	391.2	391.0	383.8	388.8	378.5	374.4	369.6	374.9
3. Investments in other entities	303.2	303.2	303.2	303.2	309.3	309.3	309.3	309.3	309.3	309.3
4. Provision for diminution in value of long-term investments	-1.0	—	—	-3.4	-1.5	-2.6	-1.9	-3.0	—	—
5. Held to maturity investments	2,178.2	2,184.3	2,085.3	2,287.8	1,859.6	1,906.0	2,553.9	1,684.1	1,487.1	1,516.9
VI. Other long-term assets	10.6	11.6	11.3	12.3	10.4	11.3	13.3	13.5	9.3	9.1
1. Long-term prepayments	1.9	2.1	2.2	2.1	0.7	0.7	2.8	2.7	0.8	0.9
2. Deferred income tax assets	0.9	1.7	1.2	2.3	1.9	2.7	2.7	2.9	0.6	0.3
4. Other long-term assets	7.9	7.9	7.9	7.9	7.9	7.9	7.9	7.9	7.9	7.9
TOTAL ASSETS (270=100+200)	10,436.2	10,355.0	9,615.7	9,850.1	9,570.0	9,271.2	8,777.7	8,723.5	8,552.5	8,384.5
A. LIABILITIES (300=210+330)	6,216.5	6,265.2	5,426.1	5,775.5	5,600.7	5,258.3	4,832.8	4,925.6	4,710.1	4,528.3
I. Short -term liabilities	6,212.1	6,261.1	5,424.6	5,780.0	5,599.1	5,256.5	4,831.1	4,924.1	4,708.6	4,526.8
2. Trade accounts payable	970.1	1,021.1	842.5	1,086.5	933.4	867.4	758.0	872.7	972.7	965.1
2.1. Insurance contract payable	969.1	1,020.1	840.5	1,078.8	932.3	866.5	756.9	871.7	971.7	964.1
2.2. Other payables to suppliers	1.0	1.0	2.0	7.6	1.1	1.0	1.1	1.0	0.9	1.0
3. Advances from customers	0.2	0.1	0.2	0.2	0.4	0.4	0.4	0.7	0.9	1.2
4. Taxes and other payables to state authorities	27.0	31.1	27.3	26.2	18.7	20.7	15.9	1.1	30.1	37.5
5. Payable to employees	22.9	7.0	41.5	27.9	20.0	3.1	33.7	15.8	38.1	20.1
6. Accrued expenses	1.4	1.7	1.1	0.9	1.4	1.6	—	1.5	4.1	3.2
8. Other payables	243.7	45.7	62.9	76.6	241.4	67.3	66.6	77.6	241.2	74.3
9. Unearned commission revenues	304.3	330.5	256.0	267.6	180.1	185.5	176.9	162.5	158.8	153.1
11. Bonus and welfare fund	37.0	34.3	34.2	34.2	32.6	28.5	29.1	27.9	39.2	35.6
131. Unearned premium reserve	2,079.1	2,081.7	1,796.0	1,910.4	1,878.4	1,845.4	1,545.9	1,509.0	1,468.8	1,413.4
132. Claim reserve	2,269.0	2,259.1	2,124.2	2,104.0	2,051.5	1,991.6	1,970.1	2,013.7	1,517.5	1,583.7
133. Catastrophe reserve	253.8	248.2	238.7	235.9	233.1	227.5	217.4	224.2	220.1	216.4
14. Short-term unearned revenue	3.7	—	—	—	—	—	—	—	—	—
II. Long-term liabilities	4.4	4.1	1.5	-4.5	1.7	1.7	1.7	1.5	1.5	1.5
3. Other long-term liabilities	1.8	1.5	1.5	—	1.7	1.7	1.7	1.5	1.5	1.5
B. OWNER'S EQUITY (400=410+430)	4,219.7	4,089.8	4,189.7	4,074.6	3,969.2	4,012.9	3,944.9	3,797.9	3,842.4	3,856.3
I. Owner's equity	4,219.7	4,089.8	4,189.7	4,074.6	3,969.2	4,012.9	3,944.9	3,797.9	3,842.4	3,856.3
1. Capital from owners	2,006.3	2,006.3	2,006.3	2,006.3	1,823.9	1,823.9	1,823.9	1,658.1	1,658.1	1,658.1
- Common stock with voting right VND per share	2,006,302,480,000.00	2,006,302,480,000.00	2,006,302,480,000.00	2,006,302,480,000.00	1,823,914,550,000.00	1,823,914,550,000.00	1,823,914,550,000.00	1,658,106,170,000.00	1,658,106,170,000.00	1,658,106,170,000.00
2. Share premium	369.8	369.8	369.8	369.8	369.8	369.8	369.8	369.8	369.8	369.8
7. Investment and development fund	396.5	396.5	—	—	206.1	206.1	—	—	—	—
9. Compulsory reserves	200.6	200.6	200.6	198.1	182.4	182.4	182.4	165.8	165.8	165.8
11. Undistributed earnings after tax	1,210.8	1,080.8	1,371.4	1,260.7	1,353.7	1,399.4	1,329.3	1,365.1	1,409.7	1,423.7
- Accumulated retained earning at the end of the previous period	978.4	978.4	964.0	964.0	1,146.4	1,328.8	952.0	1,117.8	1,117.8	1,283.6
- Undistributed earnings in this period	232.5	102.4	407.3	296.6	207.3	70.6	377.3	247.3	291.9	140.1
12. Minority's interest	35.9	35.8	—	33.7	33.4	31.4	33.5	33.0	32.9	32.8
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	10,436.2	10,355.0	9,615.7	9,850.1	9,570.0	9,271.2	8,777.7	8,723.5	8,552.5	8,384.5

Item	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Income tax paid	-24.2	-26.5	-25.2	-49.0	-31.2	-15.4	0.0	-74.9	-45.7	-13.7
Other receipts from operating activities	7.2	2.2	21.6	—	21.6	2.7	10.5	6.9	3.3	1.0
Other payments for operating activities	-13.8	-19.5	-24.2	—	-30.9	-15.3	-10.8	-34.3	-27.5	-12.7
Net cash flows from operating activities	22.3	5.4	34.2	154.0	28.0	-42.7	169.7	157.0	73.0	-65.8
1. Payment for fixed assets, constructions and other long-term assets	0.0	-0.1	-1.4	-0.4	-0.2	-0.1	-1.9	-4.1	-3.8	-4.8
2. Receipts from disposal of fixed assets and other long-term assets	—	—	—	—	—	—	0.0	0.2	—	—
4. Receipts from loan repayments, sale of other entities' debt instruments	318.5	427.5	278.8	1,697.6	723.6	355.7	700.6	1,391.7	1,040.0	641.0
5. Payments for investment in other entities	-392.8	-510.2	-474.7	-1,966.9	-869.8	-393.8	-941.4	-1,771.5	-1,393.8	-680.8
7. Dividends, interest and profit received	44.3	89.4	122.5	250.8	156.7	35.9	140.6	401.3	268.7	119.1
Net cash flows from investing activities	-29.9	6.6	-74.8	-19.0	10.4	-2.2	-102.1	17.5	-88.9	74.5
6. Dividends paid, profits distributed to owners	—	—	0.0	-182.4	—	—	-2.2	-163.6	—	—
Net cash flows from financing activities	-0.5	—	0.0	-182.4	—	—	-2.2	-163.6	—	—
Net cash flows during the period	-8.1	12.0	-40.6	-47.3	38.4	-45.0	65.5	10.8	-15.9	8.8
Cash and cash equivalents at beginning of the period	70.2	58.4	99.0	145.4	145.4	95.4	77.6	67.5	67.5	7.5
Exchange difference due to re-valuation of ending balances	0.1	-0.2	0.0	0.9	1.0	0.6	2.4	-0.7	0.6	0.3
Cash and cash equivalents at end of the period	62.2	70.2	58.4	99.0	184.8	51.1	145.4	77.6	52.2	16.5

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