Vingroup’s Chairman, Pham Nhat Vuong, speaks at the 2025 Annual General Meeting of Shareholders
According to Vingroup’s (VIC) reviewed financial report for the first half of 2025, the corporation has executed significant equity transfer transactions during this period.
Specifically, in March 2025, Vingroup divested 65% of its ownership in Movian AI Joint Stock Company. The total transaction value amounted to VND 1,684 billion, resulting in a gain of VND 1,765 billion. Following this transaction, Vingroup no longer holds controlling rights in Movian AI.
Movian AI, with a charter capital of VND 226,766 billion, was a subsidiary of VinAI Research and Application Joint Stock Company, in which Vingroup held a 65% stake. The buyer of Movian AI’s shares is Qualcomm, an American chip company.
Additionally, in April 2025, Vingroup completed the divestment of 100% of its ownership in Lighthouse 2, generating a transaction value of VND 2,612 billion and a gain of VND 391 billion.
In late 2024, Vingroup also sold VinBrain to Nvidia.
At the 2025 Annual General Meeting of Shareholders, when asked about the decision to divest from VinBrain and VinAI without retaining and further developing these companies, Vingroup’s Chairman, billionaire Pham Nhat Vuong, provided two main reasons.
Firstly, foreign investors are required to invest and vigorously develop their businesses in Vietnam, which will attract leading technology enterprises to the country. They must establish research centers in Vietnam and employ Vietnamese talent.
Secondly, Vingroup’s focus is not on creating companies or assets for retention but for development. Mr. Vuong emphasized that the divestment led to the establishment of a $150 million fund to boost technology projects. While these projects may not always succeed, and Vingroup may not directly benefit, the country will gain. Vietnamese tech enterprises will have more opportunities to grow and learn from their failures, leading to greater success.
In terms of financial performance, Vingroup reported a consolidated revenue of VND 130,476 billion for the first six months of 2025, doubling the figure from the same period last year. After expenses, the corporation’s pre-tax profit reached VND 11,159 billion, a 69% increase year-on-year.
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