“2024 was a challenging year for VNG, but we overcame the difficulties by focusing on our core values ​​and strategic vision,” said Mr. Le Hong Minh, Founder and Chairman of the Board of Directors of VNG.

According to Mr. Le Hong Minh: “VNG has strong revenue growth, profit recovery, and stable development in core business segments. This result not only reflects the team's adaptability but also demonstrates VNG's long-term vision and commitment to developing Vietnamese technology to reach the world.

We are delighted to see that our investments in AI have started to pay off, with total revenue from AI reaching hundreds of billions of VND. VNG is in a favorable position to become an “AI-First” company within the next 5 years.”

The consistent growth of all core businesses and effective cost optimization strategy have created a clear financial transformation in 2024.

VNG also continues to commit to promoting national digital transformation through long-term investment in revolutionary technologies such as AI, platform-infrastructure, cloud computing and financial technology (fintech).

Outstanding financial indicators

2024 marks an impressive recovery and strategic transformation in VNG's financial operations, reflected not only in financial indicators but also in the company's new operational orientation.

● Net revenue: Increased by 22%, reaching VND 9,273 billion.

● Adjusted net profit from operating activities: Marking a significant change, reaching VND 302 billion, reversing from a loss of VND 23 billion in 2023.

● Net loss after tax: 1,180 billion VND.

● Contribution to the state budget: 1,114 billion VND.

AI - Potential to convert into revenue

In 2024, VNG moved from concept to real action in the field of AI, with strategic investments delivering concrete results across all three key AI layers: infrastructure, platform and application.

In terms of infrastructure, the first large-scale AI Cloud Data Center in Southeast Asia in Bangkok, developed in cooperation with NVIDIA and ST Telemedia Global Data Centers, was officially opened in June 2024, bringing in hundreds of billions of VND in revenue in the first months.

This project demonstrates VNG's outstanding AI commercialization capability and speed, as well as the company's global expansion strategy.

The GreenNode AI platform provides a powerful and comprehensive set of tools for engineers to program, train large language models (LLMs) and perform advanced data analysis. GreenNode's Intelligent Document Processing solution also delivers outstanding efficiency by reducing bank data errors by up to 70%, saving more than 2,000 man-days and cutting billions of VND in operating costs each year.

TrueID, the first eKYC solution in Vietnam to achieve iBeta ISO 30107-3 Level 2 certification, enhances biometric security and provides SDK/API protection for 40 banks and financial institutions, meeting the requirements of Circular 50 of the State Bank of Vietnam.

AI has become a key element in VNG's entire application ecosystem, with 20% of Zalo's monthly users actively using AI services. Voice assistant Kiki Auto reached the milestone of 1 million installed vehicles (equivalent to 20% of the car market share in Vietnam).

In the Games segment, VNG has successfully applied self-developed AI tools throughout the game development and release process. AI solutions are deployed in game design, graphic design and AI bot building.

For publishing, AI has improved the efficiency of localizing marketing campaigns and multilingual translation for global publishing.

Promoting the digital economy and creating new value

In 2024, VNG will continue to actively contribute to the development of the national digital economy through international cooperation and serving diverse customer groups.

Zalo continues to affirm its position as the leading digital platform in Vietnam with 77.7 million monthly users and recorded steady growth in new revenue sources (non-ad revenue). The Mini App ecosystem has become an important growth driver with 31 million regular users per month.

VNG Digital Business (VNG DB) sees a 70% revenue growth compared to 2023, of which 43% comes from international markets. The finance-banking industry is identified as DB's key market in the coming time, with 70 partners to date.

In 2025, VNG DB aims to accelerate revenue growth, consolidate its leading position in AI and digital transformation, and build an "AI culture" close to Vietnamese people.

Zalopay has grown into a powerful payment platform, serving 16 million users, 52,000 partners and 81,000 payment points nationwide. Total payment volume increased by 39%, while revenue from financial services skyrocketed by 149%. After rebranding in July 2024, Zalopay focused on developing a strategic Multi-QR solution - supporting payments from all banking applications and e-wallets.

At the end of 2024, Zalopay will launch the international Multi-Function QR version with UnionPay, serving foreign tourists in Vietnam. With three newly launched microfinance products, Zalopay aims to become the leading open payment and financial platform, pioneering the universalization of comprehensive finance in Vietnam.

VNGGames demonstrated resilience in a volatile market context when it recorded revenue of VND7,233 billion, of which VND1,639 billion came from international markets.

Strengthening partnerships with global gaming giants such as NCSOFT, Riot Games, Tencent Games and NetEase is expected to drive double-digit revenue growth in 2025, thanks to a series of promising games such as Phong Than Mobile, MU Luc Dia VNG, Lineage2M (NCV Joint Venture), Cookie Run and Crossfire - bright spots in the context of the gaming industry facing many challenges.

Supporting Vietnam's digital transformation and sustainable growth

In addition to positive business results, VNG continues to affirm its commitment to contributing to Vietnam's digital transformation process. In 2024, VNG will contribute VND 1,114 billion to the state budget, marking the third consecutive year of maintaining a contribution of over VND 1,000 billion. The company aims to increase its annual state budget contribution and become one of the top private enterprises contributing the largest budget in Vietnam in the next 10 years.

International standard data centers developed by the joint venture between VNG and STT GDC in Ho Chi Minh City contribute to establishing the backbone infrastructure for digital transformation. At the same time, technologies created by VNG are also actively supporting the Government and businesses to effectively digitize.

By the end of 2024, Zalo will operate around 17,300 Zalo Official Accounts for government agencies and public utilities. During Super Typhoon Yagi, Zalo sent out 143 million alerts, demonstrating the power of technology in supporting the community in emergency situations.

In addition, Zalo also cooperated with JAIST (Japan) to develop a set of standards for assessing Vietnamese language proficiency VMLU and contribute to the AI ​​community, contributing to the overall development of this field in Vietnam.

Through its partnership with the Roblox platform, VNG has nurtured a game creation community, attracting more than 5 million users in just 6 months. In the field of esports, VNG continues to invest heavily in infrastructure and professional training, while organizing large-scale international tournaments such as the 2025 Asia-Pacific League of Legends Championship, contributing to eSports and promoting the digital technology ecosystem in Vietnam.

Source: https://nhandan.vn/vng-2024-tang-truong-kinh-doanh-manh-me-doanh-thu-tang-22-dot-pha-ve-ai-post869712.html