After audit, technology unicorn VNG lost another 250 billion VND

After many delays, VNG Corporation has just announced its semi-annual audited financial report for 2023 with many notable points.

Accordingly, VNG's net revenue in the first 6 months of 2023 was VND 4,098 billion, up 11.8% over the same period last year, of which online games accounted for the majority, about VND 3,069 billion, up 18.6%.

As a result, gross profit increased from VND346 billion to VND1,946 billion, not much changed compared to the self-made report.

vng revenue.png — *VNG's semi-annual loss after audit was 293 billion VND, an increase of 250 billion VND compared to self-establishment.*

However, it is worth noting that after deducting the items, VNG's audited after-tax profit lost up to 293.3 billion VND, much higher than the loss of only 40 billion VND in the self-made report. In the same period last year, VNG's loss was more than 509 billion VND.

As of June 30, VNG recorded VND1,980.4 billion invested in 8 affiliated companies, of which the largest was VND515 billion in Telio and VND513 billion in Funding Asia. In the first 6 months of 2023, VNG recorded losses of VND282 billion and VND69 billion from the above 2 affiliated companies.

As of the end of June 2023, VNG's total assets increased by VND 416.32 billion, to VND 9,316 billion, an increase of 4.7% compared to the beginning of the year.

Of which, the main assets are cash and short-term financial investments recorded at VND 3,558.5 billion, accounting for 38.2% of total assets; fixed assets recorded at VND 2,271.85 billion, accounting for 24.4% of total assets.

Long-term financial investments recorded VND 1,274.7 billion, accounting for 13.7% of total assets; short-term receivables recorded VND 1,050.8 billion, accounting for 11.3% of total assets and other items.

On October 24, the Hanoi Stock Exchange (HNX) decided to put VNZ shares on the restricted trading list, starting from October 25 and only allowed to trade on Fridays every week due to the delay in submitting the audited 2023 Semi-Annual Financial Report more than 45 days from the deadline for information disclosure.

At the end of the trading session on October 24 (the last day of restricted trading), VNZ shares reached VND 802,000/share.

The stock has just regained the most expensive position on the stock exchange, VNG founder Le Hong Minh registered to sell nearly 1 million VNZ shares, expected to earn more than 1,000 billion VND.

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