Stock of Vietnamese tech unicorn VNG hits historic low
VNZ, the ticker of Vietnam’s first tech unicorn VNG, plunged to VND437,800 ($17.8) per share at a time on Friday, its record low since registering on the unlisted public companies market UPCoM early last year.
However, the stock gradually recovered towards the end of the trading session and closed at VND480,000 ($19.5) per share, a decline of over 6.8%.
Notably, VNZ's liquidity surged compared to previous sessions, with more than 15,100 shares changing hands for over VND7.98 billion ($324,190).

The VNG campus. Photo courtesy of the company.
Founded in 2004 by entrepreneur Le Hong Minh, VNG is a leading internet and technology company in Vietnam. A notable milestone for the company was it being valued at $1 billion in 2014 by the World Start-up Report, becoming the first unicorn in Vietnam.
In 2019, VNG was valued at $2.2 billion by Temasek, an investment fund of the Singaporean government.
According to its financial statement, VNG reported a net revenue of VND4,314 billion ($175.26 million) in the first half of this year, up nearly 30% year-on-year. The online gaming segment accounted for 73.25% of total revenue, reaching nearly VND3,162 billion.
However, VNG reported a loss of nearly VND586 billion ($23.8 million), half of the figure in the same period of 2023 (VND1,205 billion).
The loss in H1 has reduced VNG’s undistributed after-tax profit to over VND1,402 billion ($56.96 million), down more than 50.6% against the beginning of the year.
In 2024, VNG aims for VND11,069 billion ($449.7 million) in revenue and VND150 billion ($6.09 million) in after-tax profit. After the first half, the firm had fulfilled only 39% of the year's revenue target and stayed far from its profit goal.
The company’s total assets as of June 30, 2024 hit over VND10,126 billion ($411.4 million), up more than 5.5% compared to the beginning of the year.
During H1, VNG increased long-term financial investments from VND1,181 billion to VND1,310 billion ($53.22 million), which included an investment in VTH Software Development JSC.
VTH Software was previously a subsidiary of VNG, but the unicorn signed an agreement to sell VTH shares to a group of strategic investors on October 23, 2023, and completed the transaction on May 17, 2024. After this, VNG's stake in VTH decreased from 65% to 35%, and VTH is now listed as an associated company of the corporation.
Data shows that among VNG's nine affiliated companies, only Daione posted a profit of nearly VND11 billion ($446,880), while the remaining reported losses, such as Tiki Global with a loss of VND510 billion ($20.72 million) and Telio with VND310.3 billion.
In H1, VNG raised its investments in subsidiaries from VND4,838 billion to VND6,435 billion ($361.43 million). It also increased its stake in Zion JSC, the owner of Zalopay, from 72.65% to 99.99%, with a total investment of more than VND5,141 billion ($208.86 million).
The provision for long-term financial investments in subsidiaries rose from over VND3,297 billion to VND4,778 billion ($194 million).
- Read More
Vietnamese firm lands first $1 mln order on Alibaba after 8-year struggle to export
After five months of operating a virtual storefront on Alibaba’s B2B e-commerce platform, Sukavina Co., Ltd., a Binh Duong province-based manufacturer of metal tables, chairs, and beds, secured its first international order, marking a significant milestone in the company’s eight-year journey to global markets.
Companies - Fri, May 30, 2025 | 9:00 am GMT+7
Vietnam's telco giant Viettel signs deal with France’s John Cockerill Defense
Viettel High Tech, the core military and civilian R&D arm of Vietnam’s military-run telecom giant Viettel, has signed a cooperation agreement with John Cockerill Defense, a leading weapon designer and manufacturer in France.
Companies - Thu, May 29, 2025 | 9:14 pm GMT+7
MB showcases comprehensive financial solution Biz MBBank at Digital Transformation Day event
Vietnam's leading bank MB on Thursday introduced its latest digital technology solutions, notably the Biz MBBank digital financial platform, at the "Smart Digital Ecosystem in the New Era" event organized by the central bank.
Companies - Thu, May 29, 2025 | 8:02 pm GMT+7
Vietnam's auto distributor TMT to launch $3.8 mln charging station firm
Vietnamese auto distributor TMT Motors has announced the establishment of a charging station company with a charter capital of VND100 billion ($3.84 million).
Companies - Thu, May 29, 2025 | 4:45 pm GMT+7
US's Excelerate Energy affirms intention to turn Vietnam into LNG hub for ASEAN
Excelerate Energy wants to make Vietnam a center for LNG distribution to the ASEAN region, president and CEO Steven Kobos told Prime Minister Pham Minh Chinh at a meeting in Hanoi on Thursday.
Energy - Thu, May 29, 2025 | 4:33 pm GMT+7
Bourse shifts to heat up Vietnam's banking stocks
Several Vietnamese banks are planning to move their shares from the Unlisted Public Companies Market (UPCoM) to the Ho Chi Minh Stock Exchange (HoSE) this year, creating new momentum for banking stocks, long dubbed the “king” group.
Finance - Thu, May 29, 2025 | 2:48 pm GMT+7
Dairy giant TH Group proposes 5 projects in southern Vietnam
TH Group, one of Vietnam’s leading dairy producers, has proposed five major projects in the southern province of Binh Phuoc, in the fields of industrial production and urban area, golf course and high-tech agricultural production zone developments.
Industries - Thu, May 29, 2025 | 12:02 pm GMT+7
2024 cyberattack 'a blessing in disguise' for Vietnam's leading broker VNDirect: chairwoman
The cybersecurity breach that major Vietnamese brokerage VNDirect Securities encountered in 2024 was "an unfortunate incident, but also a lucky chance", chairwoman Pham Minh Huong said on Wednesday.
Finance - Thu, May 29, 2025 | 9:48 am GMT+7
Vietnam prioritizes smart, green seaport projects: Deputy PM
Vietnam encourages smart and green seaport investments, as technical barriers related to CO2 emissions and CO2 taxes begin to be tightened up globally.
Infrastructure - Wed, May 28, 2025 | 10:07 pm GMT+7
New Zealand, Vietnam expand timber trade partnership
New Zealand Forestry and Trade Minister Todd McClay on Tuesday unveiled a new bilateral agreement with Vietnam designed to boost timber exports and remove potential trade barriers in the two countries' forestry sectors.
Companies - Wed, May 28, 2025 | 8:53 pm GMT+7
Norway vows to support Vietnam's energy transition
Norway is committed to supporting Vietnam’s energy transition, Norwegian Ambassador to Vietnam Hilde Solbakken said at a technical seminar held in Hanoi on Wednesday.
Companies - Wed, May 28, 2025 | 8:49 pm GMT+7
Thailand expected to become regional luxury retail hub
Thailand's luxury retail market is valued at $4.4 billion and projected to grow by approximately 5% annually through 2028, placing the country at the forefront of luxury retail in Southeast Asia and seventh in Asia-Pacific, according to property consultant CBRE Thailand.
Southeast Asia - Wed, May 28, 2025 | 8:44 pm GMT+7
Indonesia affirms role as leading global maritime hub
The Indonesia Maritime Expo, held as part of Indonesia Maritime Week 2025 on May 26-28, is the first large-scale maritime event in the country, aiming to affirm its role as a global maritime hub and promote the sustainable development of the region’s maritime industry.
Southeast Asia - Wed, May 28, 2025 | 8:41 pm GMT+7
Vietnam benchmark VN-Index hits 3-year high
The VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), recorded a four-day gaining streak on Wednesday, rising 2.06 points, or 0.15%, to 1,341.87 points - the highest since May 2022.
Finance - Wed, May 28, 2025 | 6:37 pm GMT+7
HSBC launches sustainability improvement loan in Vietnam
HSBC has introduced its Sustainability Improvement Loan, a new financing solution tailored for businesses with annual turnover less than $550 million, in Vietnam, after launching it in 12 markets including the UK, Middle East, Hong Kong and Singapore last year.
Banking - Wed, May 28, 2025 | 6:15 pm GMT+7
CMA CGM, Saigon Newport to jointly develop deep-sea terminal in northern Vietnam
France's CMA CGM Group, a global player in sea, land, air, and logistics solutions, has signed a partnership agreement with Vietnam's Saigon Newport Corporation (SNP) to develop a deep-water terminal in Hai Phong city, northern Vietnam.
Infrastructure - Wed, May 28, 2025 | 5:01 pm GMT+7