VNG Targets 2025 Profit of 300-450B VND, Aims to End Loss Streak Since 2021
This Aveluro analysis covers VNZ (Tập đoàn VNG) in the Truyền thông sector. The classified event type is guidance raise, with positive sentiment and a deterministic market-impact score of 6.9/10. Aveluro classifies this story as a positive catalyst in the stock's news coverage. Source coverage came from VnExpress - Kinh doanh, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
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Overview
VNG Corporation (VNZ) has set a 2025 revenue target of 12,500-13,500 billion VND and a pre-tax profit target of 300-450 billion VND, according to documents prepared for its upcoming annual general meeting. If achieved, this would mark the company’s first profitable year since its listing on the Ho Chi Minh Stock Exchange (HOSE) and break a loss streak that began in 2021. The guidance follows a strong Q1 2025 performance, with net profit reaching 1,100 billion VND, the highest quarterly figure in four years.
Key Facts
- VNG targets 2025 revenue of 12,500-13,500 billion VND and pre-tax profit of 300-450 billion VND.
- The company has reported net losses every year since 2021, with a peak loss of over 2,300 billion VND in one year.
- Q1 2025 net profit reached 1,100 billion VND, the highest quarterly profit in four years; after-tax profit was 125 billion VND.
- CEO Kelly Wong attributed Q1 results to double-digit growth in three of four core business segments, plus operational discipline and cost control.
- VNG plans no dividend for 2025; retained earnings of 558 billion VND will be used for investment and product development.
- Key strategic priorities for 2025 include AI services, expanding overseas markets, monetizing intellectual property from games, and investing in cloud computing infrastructure.
- VNG expects at least 20% of revenue to come from AI products and services by 2030.
- The company has 37 direct and indirect subsidiaries and over 3,300 employees; total assets exceeded 10,730 billion VND as of end-Q1 2025.
What Happened
In documents prepared for its annual general meeting in early April, VNG’s board of directors, chaired by Le Hong Minh, outlined a 2025 business plan targeting revenue of 12,500-13,500 billion VND and pre-tax profit of 300-450 billion VND. This is the first time VNG has set a profit target since listing. The company has been loss-making since 2021, with planned losses of 150-600 billion VND in recent years and actual losses exceeding 2,300 billion VND in one year.
The guidance follows a strong Q1 2025 performance. VNG reported a net profit of 1,100 billion VND and after-tax profit of 125 billion VND for the first quarter, the highest quarterly profit in four years. CEO Kelly Wong explained that three of the company’s four core business segments achieved double-digit growth, while operational discipline and cost control also positively impacted financial results.
Market Context
VNG shares (VNZ) closed at 358,000 VND on May 18, 2026, down 0.08% with low volume of 4,600 shares. The stock trades on HOSE. The technology sector in Vietnam has seen mixed performance, with investors focusing on profitability and cash flow generation. VNG’s shift to a profit target marks a significant inflection point for a company that has been a high-growth but loss-making name in the Vietnamese tech space.
Strategic Significance
VNG’s 2025 profit target signals a strategic pivot from growth-at-all-costs to sustainable profitability. The company is leveraging its core strengths in gaming, messaging, and payments while investing heavily in AI and cloud computing. The focus on overseas expansion and AI monetization aligns with Vietnam’s broader push into digital transformation. Retaining earnings for investment rather than paying dividends underscores management’s commitment to long-term value creation. If successful, VNG could emerge as a rare profitable Vietnamese tech platform, potentially attracting more institutional and foreign investor interest.
What to Watch
- Q2 2025 earnings release to confirm sustained profitability and revenue growth trajectory.
- Updates on AI product launches and overseas market expansion, particularly in Southeast Asia.
- Any changes in foreign ownership limits or investor sentiment following the profit turnaround.
- Progress on monetizing intellectual property from gaming titles and cloud computing services.
- Annual general meeting outcomes, including any strategic updates or capital allocation plans.