BALANCE SH

2019
 I - Current Assets 35,011,896,908,246 83.95%
Cash 3,115,236,816,468 7.47%
Short-term financial investments 3,137,000,000,000 7.52%
Accounts Receivable 1,815,085,561,979 4.35%
Inventory 25,745,428,436,580 61.73%
Other Current Assets 1,199,146,093,219 2.88%
II - Long term Assets 6,696,198,636,637 16.05%
Long-term receivables 374,563,598,474 0.90%
Fixed assets 5,403,776,988,921 12.96%
0.00%
Long-term unfinished assets 87,430,438,310 0.21%
Long-term financial investment 56,464,479,744 0.14%
Other long-term assets 773,963,131,188 1.86%
Total Asset 41,708,095,544,883 100.00%
I - Total Liabilities 29,564,503,350,530 70.88%
Current Liabilities 28,442,366,683,873 68.19%
Long term debt 1,122,136,666,657 2.69%
II - Total Equity 12,143,592,194,353 29.12%
Owner Capital 12,143,592,194,353 29.12%
Total funding 41,708,095,544,883 100.00%

INCOME STAT
2019
Revenue 103,485,046,672,447

Revenue deductions 1,310,802,695,724

Net Revenue 102,174,243,976,723

Cost of good sold 82,686,444,673,012

Gross Profit 19,487,799,303,711

Revenue from financial activities 631,177,854,351

Financial expenses 569,754,844,844

Including: Interest Expense 568,136,717,134

Share of profit or loss in a joint venture company -3,473,283,371

Cost of Sale 12,437,282,718,212

 Business administration expenses 2,073,782,880,058

Net profit from business activities 5,034,683,431,577

Other Revenue 41,557,041,541

Other Expense 22,793,268,422

Other Income 18,763,773,119

EBT 5,053,447,204,696

Current Corporate Income Tax Expense 1,248,353,081,834

Deferred Corporate Income Tax expense -31,145,964,165

Net Income 3,836,240,087,027

CASH FLOW STA

2,018 2,019
I. CASH FLOW FROM BUSINESS ACTIVITIES
Profit (loss) before tax 5,053,447,204,696 5,409,735,407,353

Adjustments for:
Depreciation 1,442,826,938,954 2,195,583,071,035

Provisions 90,495,782,206 58,366,659,387

Unrealized exchange rate difference (gain) loss -27,160,364 -36,874,578

(Profit)/loss from investment/liquidation of fixed assets -341,194,613,832 -557,627,148,536

Interest expenses 568,136,717,134 594,003,821,021

Other deductions
Profit (loss) from operating activities before changes in
6,813,684,868,794 7,700,024,935,682
working capital
(Increase) decrease in accounts receivable -675,979,882,201 850,493,238,036

Increase or decrease in self-trading securities -8,374,797,030,131 6,269,571,171,518

(Increase) decrease in inventory 2,823,942,311,184 -1,894,206,905,085

Increase/(decrease) payables (excluding interest on
-227,805,034,461 -75,119,169,600
corporate income tax payable)
(Increase or decrease the upfront cost
Interest paid -537,997,464,046 -563,748,612,045

Corporate income tax paid -1,092,128,547,184 -1,494,585,439,732

Other income from business activities

Other expenses for business activities -15,000,000,000

Net cash flow from operating activities -1,286,080,778,045 10,792,429,218,774

II. CASH FLOW FROM INVESTMENT ACTIVITIES

Money spent to buy and build fixed assets -3,066,921,164,140 -3,911,358,160,002
 Proceeds from liquidation and sale of fixed assets and
1,290,807,344 2,018,075,304
other long-term assets
Money spent on loans to buy debt instruments of other
-8,997,469,863,015 -11,512,468,958,904
entities
Money recovered from loans to resell debt instruments of
5,911,392,314,754 6,512,150,136,986
other entities
Money spent on capital contribution to other units

Recovery of capital contribution to other entities

Profit dividends paid to owners 278,946,264,804 335,398,013,989

Net cash flow from investing activities -5,872,761,640,253 -8,574,260,892,627

III. CASH FLOW FROM FINANCIAL ACTIVITIES

Proceeds from issuing shares to receive capital contribution
90,454,820,000 105,200,450,000
from owners
Short-term and long-term loans received -4,850,060,000 -6,040,930,000

Loan principal repayment amount 45,905,952,301,242 51,168,161,383,884

Payment of finance lease debt -38,801,961,791,867 -48,573,996,682,152

Profit dividends paid to owners

6. Cổ tức lợi nhuận đã trả cho chủ sở hữu -665,093,453,185 -678,908,841,000

Net cash flows from/(used into) financing activities 6,524,501,816,190 2,014,415,380,732

Net cash flow -634,340,602,108 4,232,583,706,879

Cash and cash equivalents at the beginning of the year 3,749,550,258,212 3,115,236,816,468

Effects of exchange rate changes on foreign currency

27,160,364 36,874,578
conversion
Cash and cash equivalents at the end of the year 3,115,236,816,468 7,347,857,397,925
 BALANCE SHEET
2020 2021
37,317,233,970,267 81.07% 51,955,257,770,657 82.51%
7,347,857,397,925 15.96% 4,142,015,762,555 6.58%
8,057,318,821,918 17.50% 14,236,626,334,707 22.61%
1,595,251,018,496 3.47% 3,162,121,971,586 5.02%
19,422,177,452,674 42.19% 29,167,232,293,922 46.32%
894,629,279,254 1.94% 1,247,261,407,887 1.98%
8,713,645,982,187 18.93% 11,016,147,044,285 17.49%
439,493,257,757 0.95% 482,389,179,464 0.77%
7,294,961,666,136 15.85% 9,647,168,873,232 15.32%
0.00% 0.00%
132,620,362,470 0.29% 79,697,939,172 0.13%
52,757,540,273 0.11% 0.00%
793,813,155,551 1.72% 806,891,052,417 1.28%
46,030,879,952,454 100.00% 62,971,404,814,942 100.00%
30,549,190,106,022 66.37% 42,593,158,815,096 67.64%
29,422,513,439,369 63.92% 42,593,158,815,096 67.64%
1,126,676,666,653 2.45% 0.00%
15,481,689,846,432 33.63% 20,378,245,999,846 32.36%
15,481,689,846,432 33.63% 20,378,245,999,846 32.36%
46,030,879,952,454 100.00% 62,971,404,814,942 100.00%

INCOME STATEMENT
2020 2021
109,801,253,690,656 124,141,525,689,948

1,255,234,025,244 1,183,419,586,774

108,546,019,665,412 122,958,106,103,174

84,591,522,392,949 95,325,974,107,640

23,954,497,272,463 27,632,131,995,534

794,121,782,667 1,287,956,026,163

594,151,513,751 714,707,225,745

594,003,821,021 -674,427,746,189

-3,706,939,471 -2,210,500,486

15,333,798,830,787 17,914,173,302,345
 3,404,431,838,167 3,823,390,074,765

5,412,529,932,954 6,465,606,918,356

43,512,695,471 54,872,797,433

46,307,221,072 48,895,965,246

-2,794,525,601 5,976,832,187

5,409,735,407,353 6,471,583,750,543

1,598,413,821,219 1,632,975,695,694

-108,551,123,373 -62,818,619,041

3,919,872,709,507 4,901,426,673,890

CASH FLOW STATEMENT

2,020

6,471,583,750,543

2,920,713,608,410

179,550,717,177

-146,653,994

-959,323,580,633

674,427,746,189

9,286,805,587,692

-827,596,105,467

-9,923,705,315,353

3,781,614,904,801

-27,490,477,725

-585,136,035,219

-1,533,102,122,807

171,390,435,922

-4,976,876,590,016
 1,107,020,670

-19,225,219,180,045

12,163,993,969,618

-16,385,001,737

796,626,468,011

1,883,709,063

-11,254,869,604,436

228,253,030,000

-2,320,000,000

63,936,208,247,950

-56,045,130,957,737

-239,519,441,063

7,877,490,879,150

-3,205,988,289,364

7,347,857,397,925

146,653,994

4,142,015,762,555
 2022 RATIOS
44,577,607,228,189 LIQUIDITY RATIOS
5,061,020,547,422 CURRENT RATIO
10,069,249,605,640 QUICK RATIO
3,000,817,466,182 CASH TO TOTAL ASSETS
25,696,077,735,282 SALES TO RECEIVABLES
750,441,873,663

11,256,488,385,860 EFFICIENCY RATIOS

503,486,573,563 INVENTORY TURNOVER
9,727,502,911,440 ACCOUNT RECEIVABLE TURNOVER
DAY'S SALE IN INVENTORY
123,873,978,878 DAY'S SALES OUTSTANDING
231,034,840,000 TOTAL ASSET TURNOVER
670,590,081,979 FIXED ASSET TURNOVER
55,834,095,614,049

31,901,514,096,473 LEVERAGE RATIOS

26,000,264,096,473 DEBT TO EQUITY RATIO (D/E)
5,901,250,000,000 TOTAL DEBT RATIO (DT)
23,932,581,517,576 EQUITY MULTIPLIER
23,932,581,517,576

55,834,095,614,049 PROFITABILITY RATIOS

GROSS PROFIT MARGIN
OPERATING PROFIT MARGIN
NET PROFIT MARGIN
2022 RETURN ON ASSETS
134,722,248,887,557 RETURN ON EQUITY
1,317,471,297,033

133,404,777,590,524 MARKET VALUE RATIOS

102,542,735,094,343 EPS
30,862,042,496,181 P/E
1,313,137,304,323

1,382,620,454,532

1,362,143,909,103 CASH FLOW TO INVESTOR

CFOA
22,336,838,067,678 NWC
 1,881,027,579,714 CFNWC
6,574,693,698,580 CFLTA
61,606,712,681 CFI
579,945,037,703

-518,338,325,022

6,056,355,373,558

1,792,998,810,102

161,642,138,517

4,101,714,424,939

2,021

6,056,355,373,558

3,540,324,726,294

-321,799,366,884

284,374,414

-348,599,792,355

1,362,143,909,103

10,288,709,224,130

-588,827,639,446

3,791,937,421,033

-2,286,756,979,213

-101,041,271,147

-1,322,381,109,404

-1,805,340,844,308

7,976,298,801,645

-4,465,359,523,505
 5,331,159,526

-20,799,334,065,331

25,851,966,071,069

-181,034,840,000

1,137,542,621,557

1,549,111,423,316

192,628,370,000

-5,025,640,000

65,251,647,851,081

-73,313,739,286,999

-731,854,815,000

-8,606,343,520,918

919,066,704,043

4,142,015,762,555

-61,919,176

5,061,020,547,422
 2018 2019 2020

2018 2019 2020 2022

1.23 1.27 1.22 1.71

0.33 0.61 0.54 0.73

0.07 0.16 0.07 0.09

2.11 2.46 1.55 1.37

2018 2019 2020 2022

3.21 4.36 3.27 3.99

56.29 68.04 38.88 44.46

113.65 83.80 111.68 91.46

6.48 5.36 9.39 8.21

2.45 2.36 1.95 2.39

25.80 21.29 18.28 21.56

2018 2019 2020 2022

2.43 1.97 2.09 1.33

0.71 0.66 0.68 0.57

3.43 2.97 3.09 2.33

2019 2020 2021 2022

0.1883 0.2182 0.2226 0.2291

0.0481 0.0475 0.0475 0.0493

0.0371 0.0357 0.0395 0.0304

0.0920 0.0852 0.0778 0.0735

0.3159 0.2532 0.2405 0.1714

2018 2019 2020 2022

6.69 8.66 8.65

13 13.16 13.75

2018 2019 2020 2022

19,682,273,160,831 24,551,666,522,279 28,919,869,908,250 32,609,368,412,373

6,569,530,224,373 7,894,720,530,898 9,362,098,955,561 18,577,343,131,716

 1,325,190,306,525 1,467,378,424,663 9,215,244,176,155

2,017,447,345,550 2,302,501,062,098 240,341,341,575

21,209,028,870,204 25,149,990,421,489 23,153,782,894,643

 BALANCE SHEET
 I - Current Assets 44,577,607,228,189

Cash 5,061,020,547,422

Short-term financial investments 10,069,249,605,640

Accounts Receivable 3,000,817,466,182

Inventory 25,696,077,735,282

Other Current Assets 750,441,873,663

II - Long term Assets 11,256,488,385,860

Long-term receivables 503,486,573,563

Fixed assets 9,727,502,911,440

Long-term unfinished assets 123,873,978,878

Long-term financial investment 231,034,840,000

Other long-term assets 670,590,081,979

Total Asset 55,834,095,614,049

I - Total Liabilities 31,901,514,096,473

Current Liabilities 26,000,264,096,473

Long term debt 5,901,250,000,000

II - Total Equity 23,932,581,517,576

Owner Capital 23,932,581,517,576

Total funding 55,834,095,614,049

INCOME STATEMENT
Revenue 134,722,248,887,557

Revenue deductions 1,317,471,297,033

Net Revenue 133,404,777,590,524

Cost of good sold 102,542,735,094,343

Gross Profit 30,862,042,496,181

Revenue from financial activities 1,313,137,304,323

Financial expenses 1,382,620,454,532

Including: Interest Expense 1,362,143,909,103

Share of profit or loss in a joint venture company

Sale Expensive 22,336,838,067,678

Business administration expenses 1,881,027,579,714

Net profit from business activities 6,574,693,698,580

Other Revenue 61,606,712,681

Other Expense 579,945,037,703

Other Income -518,338,325,022

EBT 6,056,355,373,558

Tax Expense 1,954,640,948,619

Net Income 4,101,714,424,939

CASH FLOW STATEMENT

I. CASH FLOW FROM BUSINESS ACTIVITIES
Profit (loss) before tax 6,056,355,373,558

Adjustments for:
Depreciation 3,540,324,726,294

Provisions -321,799,366,884

Unrealized exchange rate difference (gain) loss 284,374,414

(Profit)/loss from investment/liquidation of fixed
-348,599,792,355
assets
Interest expenses 1,362,143,909,103
Profit (loss) from operating activities before
10,288,709,224,130
changes in working capital
(Increase) decrease in accounts receivable -588,827,639,446

Increase or decrease in self-trading securities 3,791,937,421,033

(Increase) decrease in inventory -2,286,756,979,213

Increase/(decrease) payables (excluding interest
-101,041,271,147
on corporate income tax payable)
Interest paid -1,322,381,109,404

Corporate income tax paid -1,805,340,844,308

Net cash flow from operating activities 7,976,298,801,645

II. CASH FLOW FROM INVESTMENT ACTIVITIES

Money spent to buy and build fixed assets -4,465,359,523,505
Proceeds from liquidation and sale of fixed assets
5,331,159,526
and other long-term assets
Money spent on loans to buy debt instruments of
-20,799,334,065,331
other entities
Money recovered from loans to resell debt
25,851,966,071,069
instruments of other entities
Money spent on capital contribution to other units -181,034,840,000

Profit dividends paid to owners 1,137,542,621,557

Net cash flow from investing activities 1,549,111,423,316

III. CASH FLOW FROM FINANCIAL ACTIVITIES

Proceeds from issuing shares to receive capital
192,628,370,000
contribution from owners
Short-term and long-term loans received -5,025,640,000
 Loan principal repayment amount 65,251,647,851,081

Payment of finance lease debt -73,313,739,286,999

Profit dividends paid to owners -731,854,815,000

Net cash flows from/(used into) financing
-8,606,343,520,918
activities

NET CASH FLOW 919,066,704,043

 LIQUIDITY RATIOS
CURRENT RATIO 1.71
QUICK RATIO 0.73
CASH TO TOTAL ASSETS 0.09

EFFICIENCY RATIOS
INVENTORY TURNOVER 3.99
ACCOUNT RECEIVABLE TURN 44.46
DAY'S SALE IN INVENTORY 91.46
DAY'S SALES OUTSTANDING 8.21
TOTAL ASSET TURNOVER 2.39
FIXED ASSET TURNOVER 21.56

LEVERAGE RATIOS
DEBT TO EQUITY RATIO (D/E) 1.33
TOTAL DEBT RATIO (DT) 0.57
EQUITY MULTIPLIER 2.33
EBIT 7,418,499,282,661
EBITDA 10,958,824,008,955
TIME INTEREST EARNED 5.45
CASH COVERAGE 8.05

PROFITABILITY RATIOS
GROSS PROFIT MARGIN 0.23
OPERATING PROFIT MARGIN 0.05
NET PROFIT MARGIN 0.03
RETURN ON ASSETS 0.07
RETURN ON EQUITY 0.17

MARKET VALUE RATIOS

EPS 3,369
P/E 15.32

CASH FLOW TO INVESTOR

CFOA 32,609,368,412,373.00
CFNWC 9,215,244,176,155.00
CFLTA 240,341,341,575.00
CFI 23,153,782,894,643