VNG announced this information on May 21. Kelly Yin Hon Wong, formerly Vice President of VNG and President of VNGGames, has been introduced as the new President of VNG, according to the announcement. With nearly two decades of experience in various business sectors in Vietnam, Mr. Wong has held prominent positions such as Vice President of KIDO Group, Chairman of Red Wok Investment (RWI), and Enterprise Advisory Director of Ho Chi Minh City Securities Corporation (HSC).
Last September, Mr. Wong was appointed as the Acting President of the company.
Mr. Kelly Yin Hon Wong, President of VNG since May 20.
Established in 2004 as VinaGame, VNG has undergone several name changes and now boasts a capital scale of over 287 billion VND as of Q2 2024. The founder, Le Hong Minh, served as Chairman and President from 2004 and is also one of the largest shareholders.
In early 2023, Mr. Minh transitioned the role of Chairman to Vo Sy Nhan, an independent member elected in 2022. Subsequently, the founder resumed the position of President and Board member. However, when Mr. Nhan resigned in November 2024, Mr. Minh returned as Chairman.
Le Hong Minh, Founder and Chairman of VNG.
VNG’s diverse business interests include online games, connection platforms, payment and financial services, and cloud services. The online gaming segment has been the most significant revenue generator, accounting for 70-80% of total revenue in recent years. The company also has a presence in Hong Kong, Thailand, Singapore, the Philippines, Myanmar, Taiwan, and Indonesia.
In 2024, VNG reported a net revenue of 9,273 billion VND, a 22% increase from 2023. The company turned a corner with an adjusted business profit of 302 billion VND after incurring a loss of 23 billion VND the previous year. However, VNG still posted a net loss of 1,180 billion VND, although this represented a significant improvement over previous years.
The Ultimate Profit Surge: A Construction Materials Company’s Triumph with a 172-fold Pre-tax Profit Increase in Q4 2024
VNG has incurred losses exceeding 1 trillion VND after tax for three consecutive years. In contrast, DNP Holding’s cumulative full-year profit after tax was nearly 193 billion VND, a 51% increase compared to 2023.
“Luxury Hospitality Group Pledges Two 5-Star Hotels as Collateral for $20 Million Bond Issue”
The announcement submitted to HNX on November 26 revealed that TTC Hospitality Joint Stock Company (HOSE: VNG) had successfully completed a private placement of 5,000 bonds at a face value of VND 100 million per bond. This issuance allowed the company to raise VND 500 billion in corporate bonds, with a three-year maturity, extending to November 25, 2027.
The Unexpected New Chair of VNG: Unveiling the Mystery
In early 2023, Le Hong Minh stepped down as Chairman of the Board of VNG, with Vo Sy Nhan taking his place. Now, with Nhan’s resignation, Minh has returned to the chairmanship. The position of CEO of this company is currently vacant.
The Return of Lê Hồng Minh as Chairman: A Retrospective on the Ownership Shift at VNG with a Focus on Foreign Investors, Tencent, and GIC.
In a statement released on November 25th, VNG Corporation (VNZ on UPCoM) announced the resignation of its Chairman of the Board, Vo Sy Nhan, due to personal reasons. Taking on the role of Chairman is Le Hong Minh, the CEO and founder of the company.
The Unexpected Movement of the Stock Exchange’s ‘Most Expensive’ Shares
The VN-Index rebounded into the green today (September 12th), with the recovery’s momentum hinging on a select few stocks. Notably, VNG’s shares soared to the ceiling price after the company clarified Le Hong Minh’s current role within the organization.
