VNG's profit growth is strong, contributing 700 billion VND to the budget

VNG Corporation has just announced its Financial Report as of September 30, 2024 with many positive figures: accumulated revenue in the first 9 months of the year reached VND 6,892 billion, adjusted net profit from business operations reached VND 424 billion, a strong growth compared to the loss of VND 123 billion in the same period in 2023. In the first nine months of 2024, VNG 's core segments all made efforts to stick to the business plan, in which, Zalo recorded good performance from Value-Added Services; Zalopay continuously expanded its platform scale; VNG Digital Business (VNG DB) had positive growth in revenue from corporate customers; Revenue from international markets continued to increase, although revenue from the Online Games segment decreased slightly. The company continued to promote strategic spearheads such as AI; continuously announced cooperation with large, reputable partners at home and abroad; At the same time, always ensuring social responsibilities, persistently pursuing the goal of developing valuable technology for Vietnamese users. - Total bookings of the Online Games segment reached VND 5,606 billion, a slight decrease compared to the same period in 2023, of which 26% were bookings from the international market. This segment also recorded numbers. - Zalo recorded 77.6 million monthly active users (MAU), an increase of 3% over the same period and nearly 1.97 billion messages sent per day, growth in both users and revenue from services. - Zalopay grew 38% in total payment volume and revenue from financial services increased 196% compared to the first 9 months of 2023. - VNG DB recorded revenue growth of 58% over the same period in 2023, of which revenue from the global market increased 14 times and accounted for 38% of total revenue. - By the end of September 2024, VNG's total contributions to the state budget reached more than 700 billion VND. In 2023, VNG ranked 28th out of 100 private enterprises with the largest budget contributions in Vietnam (according to CafeF). "The numbers of the third quarter have special significance for VNG, when all business segments have made great efforts to reach the finish line in a challenging context. The spirit of "embracing challenges" has truly helped VNG mature, adapt flexibly to all conditions on the journey of creating technology, developing people and becoming a global technology enterprise", affirmed Mr. Le Hong Minh, Founder and General Director of VNG. Actively applying technology to support the community With 77.6 million regular users and widespread coverage, Zalo has become an effective, fast, and free connection tool between people and State agencies and public utilities, including: public administration, security, education , health... By the end of the third quarter of 2024, Zalo has supported the deployment of more than 16,000 Zalo Official Accounts of State agencies and public utilities units.

Zalo and Zalopay contribute to support people in the North to fight floods.

During Typhoon Yagi alone, Zalo supported the Department of Dyke Management and Natural Disaster Prevention and Control to send more than 143 million messages updating information and instructions on storm and flood prevention. Zalo also quickly turned on the Zalo SOS feature to help people in provinces affected by the storm update their personal status. In just 10 days, Zalo SOS recorded about 1 million people updating their safety status, 151,000 people connecting for support, and 87,000 people making emergency contacts. With Typhoon No. 6 (Typhoon Trami), Zalo continued to support the National Steering Committee for Natural Disaster Prevention and Control to send more than 14 million messages to prevent and avoid storms. Focusing on commercializing AI After the success of the first AI Cloud Data Center in Southeast Asia in Bangkok, bringing in tens of millions of USD in revenue, GreenNode - a unit of VNG Digital Business - has continued to launch innovative AI business models for regional businesses. GreenNode's solutions, from infrastructure to platform, help small businesses save significant costs in AI training. Zalo AI has also continuously made its mark with AI products with high commercial applications. In October 2024, the generative artificial intelligence (genAI) technology developed by Zalo AI supported VIB International Bank to issue credit cards with personalized design features, reaching more than 4,000 cards applied after only 2 days. More than 5 million Zalo AI cards have also been created and sent by users on occasions such as Vietnamese Women's Day October 20, showing the great potential of personalized AI products in the Vietnamese market. In addition, the AI Artian graphics platform developed by the VNGGames team has just launched version 2.0, providing more accurate and suitable results, shortening the time to create visual ideas by 30%, reducing the time to create illustration models by 50% and allowing video trailers to be created in just a few minutes. Announced cooperation with many major partners In the Online Games segment, VNGGames has continuously cooperated with leading names in the global gaming industry, consolidating its position as one of the leading game publishers in the region. Specifically, in August 2024, VNGGames announced the establishment of a joint venture with NCSOFT (Korea) to exclusively release NCSOFT's blockbuster games throughout Southeast Asia; officially released Roblox - VNG and aimed to build a creative and safe gaming community in Vietnam. VNGGames also signed a cooperation agreement with Riot Games on the implementation of the League of Legends (LMHT) eSports plan in 2025, aiming for a large-scale LMHT tournament across Asia -Pacific , gathering the top teams in the region, including Vietnam. In September 2024, Zalopay deployed the Zalopay QR Multi-function payment code for COD orders of BEST Express in 63 provinces and cities across the country, bringing convenience and safety in payment for both users, retailers and delivery drivers. Source: https://nhandan.vn/vng-tang-truong-manh-ve-loi-nhuan-nop-ngan-sach-700-ty-dong-post842267.html