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A Pioneering Mission A PIONEERING MISSION A A PIONEERING MISSION ANNUAL REPORT 2019 REPORT ANNUAL Vingroup Joint Stock Company No.7, Bang Lang 1 street, Vinhomes Riverside Eco-urban area, Viet Hung ward, Long Bien district, Hanoi, Viet Nam Telephone: (84-24) 3974 9999 Fax: (84-24) 3974 8888 ANNUAL REPORT Website: www.vingroup.net/en 2019 Vingroup strives to become a leading A Pioneering international business group with a focus on Industrials and Technology Mission to build international brands that will not only enhance the reputation of Vingroup but also contribute to the future success of our home market. In order to achieve such aspirations, it is critical for the Group to be successful in the local market, which will demand extraordinary efforts, the ability to continuously overcome our own shortfalls, aggressive investment, and acceptance of initial setbacks, perseverance, creativity, and the courage to take the path untrodden. Mr. Pham Nhat Vuong Chairman of the Board of Directors 04 • Vingroup Joint Stock Company Vingroup Joint Stock Company • 05 Content 06 24 62 90 114 140 CHAPTER 01 CHAPTER 02 CHAPTER 03 CHAPTER 04 CHAPTER 05 CHAPTER 06 Vingroup 2019 About Vingroup Management Corporate Sustainable Consolidated and Message from Report on 2019 26 Governance Development Financial Statements the CEO Vingroup Profile Business Performance 90 116 142 Vingroup Governance Structure Vingroup’s Vision for Sustainability General Information 08 30 and 2020 Plan Corporate Milestones Vision, Mission, Core Values of Action 96 118 144 32 Report of the Board of Directors Sustainability by the Numbers Report of Management 10 64 Businesses 2019 at a Glance 2019 Economy and 99 120 145 2020 Macroeconomic Outlook Report of the Supervisory Board 2019 Highlights Independent Auditors’ Report 12 50 Corporate Structure 2019 Achievements 68 100 124 146 Vingroup Operations and Governance Report 2019 Sustainability Report Consolidated Balance Sheet 16 52 Financial Performance in 2019 Board of Directors 2019 Awards and Accolades 102 138 150 86 Internal Audit Report Managing Sustainability Consolidated Income Statement 20 54 Blueprint for 2020 Management Message from the CEO 102 151 Risk Management Consolidated Cash Flow Statement 22 56 The Supervisory Board 2015 – 2019 Financial and 106 153 Operational Highlights 57 Share Information and Investor Relations Notes to the Consolidated Corporate Strategy Financial Statements 217 Appendix 1 – The Group Structure as at 31 December 2019 CHAPTER Vingroup 2019 and Message 01 from the CEO 08 Vision, Mission, Core Values 10 2019 at a Glance 12 2019 Achievements 16 2019 Awards and Accolades 20 Message from the CEO 22 2015 – 2019 Financial and Operational Highlights VinUniversity (Hanoi) 08 • Tập đoàn Vingroup – Công ty CP Chapter 01 – Vingroup 2019 and Message from the CEO Vingroup Joint Stock Company • 09 Vision, Mission, Vision 2019 Message Core Values With the aspiration to be a pioneer and the capability to deploy sustainable investment “ A Pioneering Mission ” Vingroup is a pioneer in building world-class national brands in the Technology and development strategies, Vingroup aims to become the leading regional Technology and Industrials fields, paving the way for new consumer trends and experiences. – Industrials – Services business group. The Group will continue to innovate in building Vingroup is determined to bring its technology and industrial products to the world, an ecosystem of high-quality products and services aimed at improving the lives of embarking on its mission “To create a better life for the Vietnamese people” on a more customers and enhancing the international reputation of Vietnamese brands. comprehensive level. Mission Slogan Customers Employees “ Preserving the The entrepreneurial mindset has been the foundation of Vingroup throughout its long startup spirit ” history. Vingroup has continuously listened to its customers, cultivated creativity, Vingroup provides products and Vingroup maintains a professional, embraced change, and created opportunities through cooperation. These practices services that meet international dynamic, creative, and respectful work have guided the company’s growth and success. standards while preserving locality. Our environment that gives all employees products and services anticipate the a fair opportunity to reach their full latest trends and lead the market. potential. Logo Shareholders Society Vingroup’s corporate logo portrays a bird flying toward the sun, symbolizing our and Business Partners determination to reach higher and higher levels of success. The V-shape of the bird’s wings represents Vietnam and our national pride. It is also a symbol of Victory and a focus Vingroup upholds the spirit of Vingroup demonstrates its social on “5-star” quality, one of our core values. Red and yellow are the colors of Vietnam’s cooperation and companionship with its responsibility and national pride by national flag, expressing our pride in the Vietnamese identity, spirit and intellect. shareholders and partners by centering harmonizing its corporate goals with on the creation of sustainable value. the values of the community. Core Values Embracing discipline Credibility Intergrity Creativity and professionalism, Vingroup strives Vingroup vigorously protects Integrity lays the Vingroup sees Creativity to uphold six core its Credibility as one foundation for Vingroup as its vitalizing catalyst values: “CREDIBILITY, would protect his honor, where we strictly respect for growth, embracing continuously strengthening and comply with the laws the entrepreneurial spirit INTEGRITY, CREATIVITY, its deployment readiness and and ethical standards, to build an enterprise of SPEED, QUALITY, and execution competences; and putting the interests of our constant learning. COMPASSION”. spares no effort in delivering customers first. its commitments. Speed Quality Compassion Vingroup values Speed and Vingroup’s commitment to Vingroup nurtures Efficiency as the principles high quality in its operations its relationships with of its Decision-making – is expressed as: “Best in Compassion, treasuring “Fast To Decide, Fast To People, Best in Products human capital as its Invest, Fast To Deploy, Fast and Services, Best in Quality most valuable asset To Sell, Fast To Change, and of Life, and delivering the and harmonizing all the Fast To Adapt”. Best in Society.” stakeholders’ benefits on the basis of fairness, integrity and solidarity. 10 • Vingroup Joint Stock Company Chapter 01 – Vingroup 2019 and Message from the CEO Vingroup Joint Stock Company • 11 2019 at a Glance 130 7.7 387 79 4.9 753 TRILLION VND TRILLION VND TRILLION VND MILLION THOUSAND Net revenue Profit after tax Market capitalization Retail malls Guest nights sold Patients served at at Vinpearl Vinmec hospitals and clinics 67,000 600 28,900 27,400 9.4 51,100 THOUSAND MILLION Cars and Smartphones sold Apartments, villas, shophouses Vinschool students VinID members (*) Employees electric scooters sold and beach villas delivered (*) As of 29 February 2020 Vinhomes Ocean Park (Hanoi) 12 • Vingroup Joint Stock Company Chapter 01 – Vingroup 2019 and Message from the CEO Vingroup Joint Stock Company • 13 2019 Achievements In 2019, Vincom Retail continued to 02 VinSmart manufacturing 04 13 Vincom retail malls plant in Hoa Lac Hi-tech launched increase its coverage with the launch park inaugurated and of 13 new malls, bringing the total smart TV production number across the system to 79, initiated reaching 1.6 million square meters of gross floor area and attracting more than 225 thousand guest visits in 43 provinces. With its nationwide coverage, diverse In November 2019, the first phase of tenants and outstanding service quality, the VinSmart manufacturing complex Vincom Retail has become the No.1 was officially put into operation in partner for both international brands Hoa Lac Hi-Tech Park (Thach That, and big domestic corporations aiming Hanoi) with a designed capacity at seizing opportunities from the new of 26 million products per annum, wave of retail, consumption and modern including smartphones and other entertainment in Vietnam. These include smart devices. Shortly thereafter, Zara, H&M, Uniqlo, Decathlon, ACFC VinSmart introduced the first five Company and L’Oreal Cosmetics Group, Android-powered LCD TV models Golden Gate and Red Sun restaurant directly licensed by Google. chains, Pizza 4Ps, CGV Cinemas and Lotte Cinema, entertainment chains such as TimeZone and tiNiWorld. 01 VinFast Complex officially inaugurated as a world-leading In July 2019, the Vinhomes Grand Park state-of-the-art 03 Two mega projects 05 Three city hotels opened and a new development launched: Vinhomes mega project was officially launched strategy announced by Vinpearl automobile in District 9 of Ho Chi Minh City with manufacturing plant Grand Park and Vinhomes Symphony a total area of 271 ha, becoming the first mega project in the city to be In 2019, Vinpearl opened three more complexes, while also increasing its In June 2019, after a record- managed and operated with world- city hotels, including Vinpearl Luxury presence in major cities and tourist breaking construction period of class smart technologies. Within just Landmark 81 in Ho Chi Minh City, destinations. Additionally, Vinpearl only 21 months, VinFast officially 17 days of its soft launch, 10,000 units Vinpearl Hotel Imperia and Vinpearl plans to cooperate with major airlines inaugurated its automobile were sold, breaking all sales records, Hotel Rivera in Hai Phong, with a total to open new domestic
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