Billionaire Vuong sponsors 20,500 billion VND for VinFast, VFS stock skyrockets

(Dan Tri) - As of May 31, billionaire Pham Nhat Vuong has sponsored VinFast a total of 20,500 billion VND.

VinFast Auto (Nasdaq stock code: VFS) has just officially announced its unaudited financial results for the first quarter of 2025.

Notably, as of May 31, Mr. Pham Nhat Vuong has disbursed VND20,500 billion in non-refundable grants to VinFast. This amount is part of the VND50,000 billion financial support commitment that billionaire Pham Nhat Vuong announced last year.

During the same period, VinFast received an additional VND30,571 billion loan from its parent company Vingroup . Pham Nhat Vuong's group committed to a new loan of up to VND35,000 billion for the electric car company to support its continued growth.

In the past two months, Vingroup Chairman Pham Nhat Vuong's assets have also increased by about 3 billion USD, exceeding 10 billion USD, according to an update from Forbes as of June 10.

Vingroup Chairman Pham Nhat Vuong (Photo: Vingroup).

Regarding VinFast's business results, the company recorded revenue of VND16,306 billion, up nearly 150% over the same period last year. In the first quarter of the year, VinFast delivered a total of 36,330 electric cars, up 296% over the same period in 2024. Meanwhile, the number of motorbikes and electric bicycles delivered reached 44,904 units, recording an increase of 473% over the same period last year.

Although sales continued to increase, the company still reported a loss of VND17,694 billion, while in the same period last year it lost more than VND14,743 billion.

At the beginning of the trading session on June 9, US time, VinFast Auto's VFS stock jumped sharply as soon as the market opened after the business results were announced. This code recorded an increase of more than 12%, up to over 3.7 USD/share.

"The first quarter is usually a low season, but the number of cars delivered by the company this period has exceeded the total number of cars delivered in the first half of last year," said Le Thi Thu Thuy, Chairwoman of VinFast's Board of Directors, in VinFast's report.

VinFast said it will focus on key markets in Vietnam, Indonesia, the Philippines, India, North America and Europe, while continuing to evaluate potential markets in Europe, Asia, the Middle East and Africa.

Source: https://dantri.com.vn/kinh-doanh/ty-phu-vuong-tai-tro-20500-ty-dong-cho-vinfast-co-phieu-vfs-tang-boc-20250610115218399.htm