VLG’s financial report for Q1 2025 shows revenue of 200 billion VND, down 15% compared to the same period last year. Gross profit has decreased to 60 billion VND. Operating expenses have risen due to investments in new technologies, resulting in a net profit of only 10 billion VND, a decrease of 30% year-on-year. The company’s total assets have increased to 1,500 billion VND, mainly due to the growth in fixed assets. Liabilities account for 60% of total assets, leading to a high debt-to-equity ratio. VLG anticipates improvements in Q2 due to market recovery and new products. However, the company also acknowledges that pressure from rent and salaries may still affect its annual business results.
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