According to the financial report dated June 30, 2025, Vingroup has total liabilities of approximately 800 trillion VND, but only 283 trillion VND is actual debt. About 44% of total liabilities are not loans but future revenue from advance payments by customers and partners. Specifically, there are nearly 110 trillion VND in advance payments from customers for purchasing products, and another 243 trillion VND is deposits from partners for real estate projects. This shows that 86% of the liabilities do not mean a bank debt burden, but primarily stem from normal business operations. Vingroup also reported 7.7 trillion VND in interest expenses in Q2 2025, yet has 74.76 trillion VND in cash and equivalents, indicating stable payment capability. Regarding some investors, such as SK Group, withdrawing capital, this is part of a restructuring investment plan and does not affect trust in Vingroup, but may open opportunities for attracting new investors.
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