As of September 30, 2025, Vingroup’s total assets reached nearly VND 1,088 trillion, marking a VND 251 trillion increase (30%) compared to the beginning of the year.
Data Source: Vingroup’s Financial Statements
This massive capital mobilization is evident in the significant growth of various asset categories. Notably, cash and cash equivalents surged by 69% year-to-date, reaching VND 72.15 trillion.
The majority of the remaining capital has been allocated to bolster core business operations. Specifically, the “properties under construction for sale” category rose by 68%, totaling over VND 122.5 trillion. This aligns closely with Vinhomes’ unrecorded sales revenue, which stood at VND 223.937 trillion by the end of September—a 93% increase from Q3 2024 and a record high, underscoring its market-leading sales velocity.
Additionally, “short-term receivables” climbed by VND 77.2 trillion (41%) to VND 267 trillion, including substantial land clearance advances.
Beyond land acquisition and construction, the financial statements reveal significant capital injection into strategic projects. Notably, VND 17.7 trillion is allocated to “construction in progress” for VinFast Group’s integrated projects.
The conglomerate also invested VND 1.9 trillion in VinEnergo Energy JSC and VND 1.5 trillion in VinSpeed High-Speed Rail Development JSC.
Data Source: Vingroup’s Financial Statements
According to the financial statements’ breakdown, Vingroup’s assets are primarily concentrated in Real Estate (Vinhomes) with VND 688 trillion (71%) and Manufacturing (VinFast) with VND 214 trillion (22%). Other segments—Rental Properties (VND 65.3 trillion), Healthcare (VND 21 trillion), and Hospitality (VND 9.6 trillion)—hold significantly smaller asset shares.
Despite total liabilities reaching VND 926 trillion, financial debt (bank loans and bonds) stands at VND 325 trillion, equivalent to 30% of total assets and 1.9 times equity—a level deemed safe. Vingroup’s debt structure is diversified, supporting core operations.
Source: Vingroup’s 9-Month Business Results Report
Funding sources include domestic bonds (32%), syndicated loans (27%), and bank loans (22%). Risk management is enhanced with 82% of debt denominated in VND, mitigating exchange rate exposure. Notably, 57% of loans carry fixed interest rates, stabilizing financing costs amid rate volatility. The average debt maturity is 3.1 years.
Long-term debt has doubled (107% increase) to VND 368 trillion in 9 months, reflecting optimized debt maturity management.
For the first 9 months of 2025, Vingroup reported VND 170 trillion in net revenue and VND 7.6 trillion in post-tax profit. Additional major revenue streams include VND 39.9 trillion from financial activities and VND 19.4 trillion from other income.
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