Announcement of Business Results Quarter 2/2023

PRESS RELEASE

VINHOMES REPORTED VND 21.6 TRILLION IN NET PROFIT AFTER TAX IN 1H2023

VINHOMES REPORTED NET PROFIT AFTER TAX EQUAL TO 72% OF FULL YEAR GUIDANCE THANKS TO ON SCHEDULE DELIVERIES AT VINHOMES OCEAN PARK 2

Hanoi, 28 July 2023, Vinhomes Joint Stock Company (ticker “VHM”) released its unaudited consolidated financial statements for the first half of 2023 in accordance with Vietnamese Accounting Standards (VAS).

Successful launches of Vinhomes Ocean Park 2 and Vinhomes Ocean Park 3 with record contracted sales and unbilled bookings in 2022 laid a solid foundation for 2023 financial performance. Accordingly, total consolidated net revenue in the first half of 2023 reached VND 62.1 trillion, representing an increase of 364% over the same period last year, thanks to the timely deliveries of 5,400 low-rise units at Vinhomes Ocean Park 2. Total adjusted consolidated net revenue, including adjusted revenue of bulk sales transactions and business co-operation contracts (BCCs), of which gains were recognized under financial income, amounted to VND 75.6 trillion, marking a 300% YoY increase, equivalent to 76% of full year guidance. Consolidated profit after tax was VND 21.6 trillion, an increase of 295% over the same period last year and equal to 72% of the guidance. Earnings per share (EPS) in the first half of 2023 were VND 4,954.

By the end of June 2023, Vinhomes' contracted sales reached VND 40.6 trillion, mainly generated from retail channels. Of which, 2Q2023 figures showed a growth of 58% compared to 1Q2023 , indicating an improvement in the market’s sentiment and liquidity.

Vinhomes had total consolidated assets and owners’ equity of VND 396 trillion and VND 170 trillion, respectively, as of 30 June 2023, representing an increase of 10% and 15% over the figures as of 31 December 2022. In which, cash, cash equivalents and short-term investments were more than VND 9.4 trillion, a 10% increase compared to 31 March 2023.

As the real estate market continued its gradual recovery thanks to supportive macroeconomic policies, Vinhomes sustained its leading position by launching new products in 2Q2023.

In June, Vinhomes launched Vinhomes Sky Park – the first luxury high-rise residential project attached to a commercial center in Bac Giang Province. The project’s various trendy amenities and prime location have facilitated a positive take-up rate of 74% since launch. In Ho Chi Minh City, the introduction of Glory Heights subdivision (cooperation products between Mitsubishi and Vinhomes) in Vinhomes Grand Park warmed up the southern real estate market, with more than 2,000 units deposited within 34 hours in the first launch. As of 24 July 2023, sale contracts were signed for more than 900 residential units, ahead of Vinhomes’ targets.

In addition, Vinhomes recently launched Mega Grand World, the shopping and entertainment complex in Ocean City (including Vinhomes Ocean Park 1, 2, 3), with the presence of VinWonders unique amusement park. The complex, which is expected to open in December 2023, will transform Ocean City into a world-class destination and help to promote Hanoi’s tourism.

As the top property management brand in Vietnam, Vinhomes urban areas continue to be highly attractive destinations for residents and visitors thanks to a series of community engagement programs. The most notable is the welcoming events of City of Lights Square (Vinhomes Ocean Park 2) during the 30 April holiday, attracting over 60,000 visitors. Hello 2023 Summer festivals were organized with a series of unique events every weekend, from May to the end of September. Typically, Summer Memories 2023, Ocean Summer Camp 2023 in Ocean City offered delightful and engaging activities for “mini” residents.

In recognition of its efforts and achievements, in June, Vinhomes was awarded the Gold Award in the category of Best Real Estate Company in Vietnam by FinanceAsia. The award affirms Vinhomes’ reputation as a leading real estate developer in Vietnam, which contributed to the transformation of urban areas and introduced solutions to enhance residents’ living experiences.