Vietnam Forestry Corporation (Vinafor)

Balance Sheet
(in VND)

2021A 2022A 2023A 2024F 2025F 2026F

ASSETS
A, SHORT-TERM ASSETS 3,735,902,007,575 3,735,339,714,576 3,657,763,888,088 3,087,568,923,137 2,890,839,092,445 2,707,049,049,360
I, Cash and cash equivalents 109,883,455,162 175,995,084,474 173,927,158,131 128,708,603,056 131,511,632,566 121,788,218,166
1, Cash 80,779,756,532 137,595,084,474 146,169,838,644 102,413,528,024 106,240,934,542 99,415,056,404
2, Cash equivalents 29,103,698,630 38,400,000,000 27,757,319,487 26,295,075,032 25,270,698,024 22,373,161,762
II, Short-term financial investments 2,112,350,338,177 2,025,681,105,463 2,120,368,114,368 1,738,861,433,142 1,626,060,590,419 1,539,617,755,479
1, Held to maturity investments 2,112,350,338,177 2,025,681,105,463 2,120,368,114,368 1,738,861,433,142 1,626,060,590,419 1,539,617,755,479
III, Short-term receivables 267,816,228,622 284,105,160,534 301,781,385,824 237,806,418,579 227,436,014,184 215,171,343,166
1, Short-term trade accounts receivable 188,143,737,625 214,353,517,689 226,114,255,081 175,307,362,737 169,891,099,629 160,250,806,847
2, Short-term prepayments to suppliers 15,996,785,881 8,837,032,287 10,511,507,361 9,741,666,051 8,110,709,818 7,964,127,941
3, Short-term inter-company receivables 22,000,000 6,746,667 8,275,911 10,151,784
4, Other short-term receivables 101,098,531,342 93,080,200,578 131,237,572,585 91,320,932,690 87,757,716,661 86,741,419,893
5, Provision for short-term doubtful debts (*) (32,310,681,703) (66,254,040,288) (28,892,757,043) (35,441,781,972) (36,217,498,366)
6, Assets waiting resolution (37,422,826,226) 145,091,683 150,091,085 (9,677,532,523) (2,890,005,864) (3,577,664,932)
IV, Inventories 1,199,384,307,790 1,211,045,286,719 1,040,352,824,196 953,307,534,339 881,550,443,362 809,338,721,642
1, Inventories 1,222,503,251,260 1,239,146,674,737 1,073,552,944,382 976,977,437,092 905,037,210,910 831,836,910,649
2, Provision for decline in value of inventories (23,118,943,470) (28,101,338,018) (33,200,120,186) (23,669,889,484) (23,486,751,270) (22,498,180,272)
V, Other short-term assets 46,467,677,824 38,513,077,386 21,334,405,569 28,884,934,022 24,280,411,914 21,133,010,907
1, Short-term prepayments 2,052,368,811 2,004,416,315 1,865,355,971 1,639,367,602 1,518,409,786 1,412,342,684
2, Value added tax to be reclaimed 40,837,630,926 34,997,685,576 14,600,195,130 24,418,188,936 20,152,359,057 16,858,907,398
3, Taxes and other receivables from state authorities 3,577,678,087 1,510,975,495 4,741,255,428 2,788,247,111 2,561,643,147 2,802,880,919
4, Other short-term assets 127,599,040 39,130,372 47,999,923 58,879,906
B, LONG-TERM ASSETS 1,707,413,159,637 1,881,574,697,371 1,817,389,086,386 1,502,072,479,178 1,432,780,310,594 1,334,897,035,007
I, Long-term receivables 2,787,922,240 1,551,540,870 996,523,177 1,444,613,495 1,102,986,013 1,004,482,878
1, Other long-term receivables 2,787,922,240 1,551,540,870 996,523,177 1,444,613,495 1,102,986,013 1,004,482,878
II, Fixed assets 216,557,127,053 207,283,103,324 241,400,826,766 185,530,721,986 175,612,826,869 168,857,643,600
1, Tangible fixed assets 192,230,394,154 183,753,828,488 218,564,500,746 165,937,368,918 157,416,484,212 151,822,036,161
- Cost 992,566,252,622 1,012,246,210,647 1,071,808,036,646 856,244,739,881 812,120,995,275 768,826,973,309
- Accumulated depreciation (800,335,858,468) (828,492,382,159) (853,243,535,900) (690,307,370,963) (654,704,511,063) (617,004,937,148)
2, Intangible fixed assets 24,326,732,899 23,529,274,836 22,836,326,020 19,593,353,067 18,196,342,657 17,035,607,439
- Cost 53,432,999,278 53,432,999,278 53,432,999,278 44,505,027,663 41,769,453,245 39,234,862,581
- Accumulated depreciation (29,106,266,379) (29,903,724,442) (30,596,673,258) (24,911,674,596) (23,573,110,588) (22,199,255,142)
III, Investment properties 193,102,936,188 180,059,800,683 168,407,626,125 149,803,188,619 137,415,821,761 128,117,657,480
- Cost 307,623,342,526 307,941,466,535 307,941,466,535 256,405,395,804 240,697,453,897 226,084,503,096
- Accumulated depreciation (114,520,406,338) (127,881,665,852) (139,533,840,410) (106,602,207,185) (103,281,632,135) (97,966,845,616)
IV, Long-term assets in progress 41,499,600,398 71,698,033,998 30,964,433,859 39,349,049,981 38,308,682,612 30,886,885,660
1, Long-term production in progress 10,000,000,000 10,000,000,000 10,000,000,000 8,329,127,742 7,817,164,264 7,342,814,948
2, Construction in progress 31,499,600,398 616,980,033,998 20,964,433,859 178,384,829,406 211,259,137,806 120,556,026,488
V, Long-term financial investments 1,191,318,001,498 1,349,205,125,800 1,315,509,154,842 1,072,250,539,357 1,029,389,694,972 959,654,189,551
1, Investments in associates, joint-ventures 1,175,078,139,520 1,302,965,263,822 1,249,484,292,864 1,035,495,125,573 988,200,457,078 919,515,306,613
2, Investments in other entities 16,024,861,978 16,024,861,978 16,024,861,978 13,347,312,246 12,526,897,838 11,766,759,607
3, Held to maturity investments 215,000,000 30,215,000,000 50,000,000,000 23,408,101,538 28,662,340,056 28,372,123,331
VI, Other long-term assets 62,147,572,260 71,777,092,696 60,110,521,617 53,694,365,739 50,950,298,366 46,376,175,839
1, Long-term prepayments 57,461,529,247 67,303,344,003 53,885,928,946 49,375,819,019 46,777,484,097 42,262,434,942
2, Deferred income tax assets 4,686,043,013 4,473,748,693 6,224,592,671 4,318,546,720 4,172,814,269 4,113,740,896
TOTAL ASSETS 5,443,315,167,212 5,616,914,411,947 5,475,152,974,474 4,589,641,402,315 4,323,619,403,039 4,041,946,084,367
LIABILITIES 625,076,671,022 574,017,597,026 494,773,150,395 467,124,157,335 422,993,538,970 389,933,952,519
I, Short -term liabilities 560,073,069,863 514,732,714,618 427,461,005,655 413,791,550,723 373,172,416,585 342,136,849,121
1, Short-term trade accounts payable 121,408,433,525 124,158,921,167 89,526,713,858 92,075,519,548 83,809,171,610 74,916,845,129
2, Short-term advances from customers 35,269,248,042 24,486,938,163 36,819,603,367 26,990,159,163 24,643,664,910 24,729,208,580
3, Taxes and other payables to state authorities 15,120,001,109 12,282,126,903 13,888,399,320 11,462,814,486 10,432,404,731 10,038,222,808
4, Payable to employees 73,605,359,273 70,458,078,537 53,492,964,490 54,303,793,925 48,948,110,334 44,216,440,739
5, Short-term acrrued expenses 29,724,951,519 24,009,267,248 18,952,832,672 19,937,970,838 17,323,555,788 15,857,171,070
6, Short-term unearned revenue 8,642,694,676 8,168,266,733 6,981,365,874 6,563,229,383 5,976,735,192 5,496,673,185
7, Other short-term payables 60,535,619,933 54,994,871,198 53,295,371,771 46,730,102,859 42,794,321,527 40,141,200,439
8, Short-term borrowings and financial leases 181,129,857,303 160,605,138,835 118,264,163,852 126,139,555,359 111,261,849,753 100,405,435,550
9, Provision for short-term liabilities 300,000,000 25,380,000
10, Bonus and welfare fund 34,336,904,483 35,315,305,834 36,239,590,451 29,442,792,232 27,875,981,188 26,261,872,083
II, Long-term liabilities 65,003,601,159 59,284,882,408 67,312,144,740 53,332,606,612 49,821,122,385 47,797,103,398
1, Long-term trade payables 301,800,000 330,480,000 181,441,150 222,567,811 205,224,995
2, Other long-term liabilities 19,506,129,461 22,667,272,822 25,157,590,693 18,818,947,146 18,403,300,911 17,483,102,561
3, Long-term borrowings and financial leases 12,240,895,135 3,629,236,578 5,008,236,578 5,692,156,016 4,044,686,724 4,146,268,788
4, Deferred income tax liabilities 15,256,576,563 14,686,573,008 18,832,354,023 13,652,697,440 13,085,884,424 12,753,061,624
5, Fund for technology development 18,000,000,000 18,000,000,000 17,983,483,446 14,987,364,859 14,064,682,514 13,209,445,429

OWNER'S EQUITY 4,818,238,496,190 5,042,896,814,921 4,980,379,824,079 4,122,517,244,979 3,900,625,864,068 3,652,012,131,849

I, Owner's equity 4,816,958,432,964 5,041,159,958,241 4,978,713,110,695 4,121,211,263,974 3,899,331,062,961 3,650,813,982,164
1, Owner's capital 3,500,000,000,000 3,500,000,000,000 3,500,000,000,000 2,915,194,709,747 2,736,007,492,255 2,569,985,231,735
- Common stock with voting right 3,500,000,000,000 3,500,000,000,000 3,500,000,000,000 2,915,194,709,747 2,736,007,492,255 2,569,985,231,735
2, Other capital of owners 9,015,428,100 9,015,428,100 9,015,428,100 7,509,065,229 7,047,508,236 6,619,862,021
3, Foreign exchange differences (1,251,080,493) (10,234,964,947) (12,318,896,981) (6,820,382,037) (8,066,088,603) (7,595,383,374)
4, Investment and development fund 246,418,564,812 235,971,816,537 244,514,065,354 201,888,687,426 188,512,154,048 178,236,645,094
5, Other funds from owner's equity 48,852,285 48,852,285 48,852,285 40,689,692 38,188,634 35,871,329
6, Undistributed earnings after tax 980,573,106,836 1,207,708,073,182 1,159,505,993,792 931,883,401,820 907,782,654,565 842,266,518,932
- Accumulated retained earning at the end of the previous period 734,694,337,761 764,131,207,889 900,322,974,598 670,541,258,684 646,211,382,648 621,043,763,277
- Undistributed earnings in this period 245,878,769,075 443,576,865,293 259,183,019,194 261,342,143,137 261,571,271,917 221,222,755,655
7, Minority's interest 82,153,561,424 98,650,753,084 77,947,668,145 71,515,092,097 68,009,153,826 61,265,236,428
II, Other resources and funds 1,280,063,226 1,736,856,680 1,666,713,384 1,305,981,005 1,294,801,108 1,198,149,684
1, Subsidized not-for-profit funds 492,801,138 962,071,092 904,404,296 661,223,716 692,833,791 633,771,871
2, Funds invested in fixed assets 787,262,088 774,785,588 762,309,088 644,757,289 601,967,317 564,377,813
TOTAL OWNER'S EQUITY AND LIABILITIES 5,443,315,167,212 5,616,914,411,947 5,475,152,974,474 4,589,641,402,315 4,323,619,403,039 4,041,946,084,367

Accounts receivable 160,032,305,878 136,743,819,838 131,567,587,705 120,465,795,333