Read the following passage and mark the letter A, B, C, or D on your answer sheet to indicate the correct answer to each of the questions from 31 to 35. VinFast, the electric car manufacturer (stock code VFS on the Nasdaq exchange in the US), a subsidiary of Vingroup conglomerate, founded and led by billionaire Pham Nhat Vuong, recently released its independent financial report for the first quarter of 2024, showing a strong increase in revenue. Specifically, in the first quarter of the year, ...

Read the following passage and mark the letter A, B, C, or D on your answer sheet to indicate the correct answer to each of the questions from 31 to 35.

VinFast, the electric car manufacturer (stock code VFS on the Nasdaq exchange in the US), a subsidiary of Vingroup conglomerate, founded and led by billionaire Pham Nhat Vuong, recently released its independent financial report for the first quarter of 2024, showing a strong increase in revenue.

Specifically, in the first quarter of the year, VinFast’s total revenue reached 7.264 billion Vietnamese dong (equivalent to 302.6 million USD), which translates to nearly 81 billion Vietnamese dong in revenue per day over the three-month period. This revenue figure marks a 269.7% increase compared to the same period in 2023, but a 31.0% decrease compared to the fourth quarter of 2023. Among the total revenue, car sales accounted for 6.493 billion Vietnamese dong (equivalent to 270.5 million USD), representing a 324.4% increase compared to the first quarter of 2023, but a 31.6% decrease compared to the fourth quarter of 2023. Additionally, VinFast delivered 6,632 electric motorcycles, a decrease of 73% compared to the fourth quarter of 2023 and a decrease of 32% compared to the same period in 2023.

Due to ongoing high investment costs, VinFast recorded a gross loss of 3.620 billion Vietnamese dong (equivalent to 150.8 million USD) for the period, an increase of 6.5% compared to the same period in 2023. However, this loss decreased by 20.1% compared to the fourth quarter of 2023. Nevertheless, VinFast’s gross profit margin significantly improved from -172.9% in the first quarter of 2023 to -49.8% in the first quarter of 2024.

VFS also reported a business operating loss of 10,124 billion Vietnamese dong (equivalent to 421.8 million USD) for the first quarter of 2024, a 7.8% decrease compared to the same period and a significant 15.4% decrease compared to the fourth quarter of 2023. After deducting expenses and corporate income tax, VinFast, led directly by billionaire Pham Nhat Vuong as the CEO, recorded a net loss of 14.842 billion Vietnamese dong (equivalent to 618.3 million USD) in the first quarter of 2024. This loss represents a 3.5% increase compared to the first quarter of 2023 but a 12.3% decrease compared to the fourth quarter of 2023.

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