Vietnam’s tech unicorn VNG expects 2025 loss to narrow by 47%, plans name change

VNG Corporation, Vietnam’s first tech unicorn, projects a net loss of VND620 billion ($2.38 million) in 2025, down 47% from last year.

VNG (UpCoM: VNZ) targets revenue of VND10.77 trillion ($413.15 million) this year, up 16.2% year-on-year, according to its document for the 2025 AGM.

The company plans no dividend payout for 2024 as it intends to retain all earnings to reinvest in segments including e-wallets, gaming intellectual property, data center infrastructure, and smart cloud services.

VNG is expected to issue 418,807 ESOP shares this year, equivalent to 1.43% of outstanding shares, at a price of VND30,000 ($1.15) each. The shares will be subject to a one-year lock-up period, with issuance slated for Q3/2025.

Besides, the firm plans to change its name to VNG Group to better reflect its broader business scope.

It will pursue a strategy of sustainable growth with selective investments, positioning technology as its foundation and AI as a key strategic pillar.

The company aims to diversify its product and service offerings, expand its footprint domestically and internationally, and restructure its organizational model to improve governance and operational efficiency.

VNG’s new board of directors for the 2025-2030 term will be voted on at the AGM, including Le Hong Minh, Vuong Quang Khai, Christina Gaw, and Edphawin Jetjirawat. All of them are expected to forgo remuneration in 2025.

VNG recorded a pre-tax loss of VND15 billion ($577,723) in Q1, marking the seventh consecutive quarterly loss, according to its Snapshot Q1/2025.

The firm posted revenue of over VND2.23 trillion ($85.9 million) in Q1. Although revenue from online games declined nearly 20% year-on-year, this segment remained the company’s largest contributor, accounting for nearly VND1.4 trillion ($53.9 million).