VinFast Báo cáo kết quả tài chính quý 1 năm 2026 chưa kiểm toán

VinFast Reports Unaudited First Quarter 2026 Financial Results

As set forth herein, VinFast Auto Ltd. (the “Company”) has announced its unaudited financial results for the first quarter ended March 31, 2026 .

The operational and financial information as of March 31, 2026 and for the quarter then ended contained in Exhibit 99.1 to this Form 6-K shall be deemed to be incorporated by reference into the Company’s registration statement on Form S-8 (File No. 333-278251), registration statement on Form F-3 (File No. 333-275133), and registration statement on Form F-3 (File No. 333- 291445) (including any prospectuses forming a part of such registration statements) and to be a part thereof from the date on which this report is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.

EX-99.1 2 vfsex99-1.htm EXHIBIT 99.1 Exhibit 99.1

VinFast Reports Unaudited First Quarter 2026 Financial Results

Quarterly Revenues reached VND23,111.1 billion (US$920.7 million)

Quarterly EV Deliveries were 58,577 units

Singapore, June 8, 2026 – VinFast Auto Ltd. (“VinFast” or the “Company”) (Nasdaq: VFS), a pure-play electric vehicle (“EV”) company with the mission of making EVs accessible to everyone, today announced its unaudited financial results for the first quarter ended March 31, 2026.

Operating Highlights for the First Quarter of 2026

EV Deliveries (1) 58,577 86,557 36,330

E-scooter & E-bike Deliveries 143,136 171,962 44,904

● EV deliveries were 58,577 in the first quarter of 2026, representing a decrease of 32% from the fourth quarter of 2025 and an increase of 61% from the first quarter of 2025. International markets outside of Vietnam accounted for approximately 8% of total deliveries during the quarter.

● E-scooter and e-bike deliveries were 143,136 in the first quarter of 2026, representing a decrease of 17% from the fourth quarter of 2025 and an increase of 219% from the first quarter of 2025. In March alone, VinFast received more than 135,000 e-scooter orders and shipped over 93,000 e-scooters to dealers in Vietnam.

● Showrooms: As of March 31, 2026, customers can purchase VinFast EVs from 447 showrooms globally. 2

Key Financial Growth Metrics for the First Quarter of 2026 (See full details of the Financial Results below)

(in VND millions, except for percentages)

1Q2026 4Q2025 1Q2025 QoQ YoY

Vehicle Sales 21,650,799 37,700,016 15,215,503 (42.6 )% 42.3 %

Total Revenues 23,111,052 39,162,725 16,306,376 (41.0 )% 41.7 %

● Vehicle sales were VND21,650.8 billion (US$862.5 million) in the first quarter of 2026, representing an increase of 42.3% from the first quarter of 2025 and a decrease of 42.6% from the fourth quarter of 2025.

● Total revenues were VND23,111.1 billion (US$920.7 million) in the first quarter of 2026, representing an increase of 41.7% from the first quarter of 2025 and a decrease of 41.0% from the fourth quarter of 2025. Total revenues were primarily comprised of revenue from EV sales.

Established Firm Positions Across Key Markets

● In Vietnam, VinFast’s EV deliveries in the first quarter of 2026 increased by 53% year-over-year. The Company maintained its position as the number one OEM since September 2024. In terms of e-scooters, VinFast has emerged as the #2 player in the market as it reached a record 17% market share 3 for total two-wheeler market in March 2026. In late May 2026, VinFast opened pre-orders for the VF 8 new platform and received approximately 12,700 reservations within the first eight days, reflecting strong consumer demand and continued momentum for the VinFast brand in its home market. 4

● Southeast Asia and India continue to be a core growth engine for VinFast. In the first quarter of 2026, VinFast ranked #1 among battery EV (“BEV”) brands in the Philippines 5 , #4 in India 6 and #8 in Indonesia 7 .

1 Includes EV models under VF, Green and Lac Hong brands, EC Van and e-buses.

2 Includes VinFast-owned and dealer showrooms.

3 Based on Company internal research

4 Reservations are non-binding and cancellable until deposits are placed by the customers.

5 According to the Chamber of Automotive Manufacturers of the Philippines (CAMPI).

6 Based on Vahan registrations among BEV brands.

7 According to the Association of Indonesia Automotive Industries (GAIKINDO).

Deepened Synergy with Green and Smart Mobility Joint Stock Company (“GSM”)

● To further support EV adoption in emerging, high-growth markets and leverage strong synergies with our affiliates, in May 2026, VinFast and GSM signed a framework agreement under which VinFast will supply GSM with approximately one million EVs and four million e-scooters for deployment within GSM’s global ride-hailing, leasing, and mobility services platforms in GSM’s markets between 2026 and 2030.

● GSM is eligible for incentives and commercial support reflecting a combination of base discounts, volume-based incentives, and go-to-market support. The quantities, pricing and delivery schedules will be determined in vehicle purchase agreements to be entered into between the parties from time to time. The partnership is expected to expand VinFast’s international distribution footprint and brand visibility while supporting GSM’s global fleet expansion.

Advanced Driver Assistance Systems (“ADAS”) Progress

● On June 1, 2026, at the NVIDIA GTC Taipei event at the COMPUTEX 2026 technology exhibition, VinFast signed an MOU with Autobrains, the Company’s Level 4 autonomy partner, and NVIDIA, a key supplier for VinFast’s Level 4 autonomy initiatives. VinFast developed robotaxis will be powered by the NVIDIA DRIVE Hyperion platform and reference architecture.

Split of VFTP and divestment of VFTP

● In May 2026, VinFast announced plans to split certain assets and operations of VinFast Trading and Production JSC (“VFTP”), a subsidiary of the Company, into a newly formed Vietnam-incorporated entity expected to be named VinFast Vietnam Joint Stock Company (“VFVN”) (the “Split”). Following the Split, VFVN is expected to become a new direct subsidiary of the Company and hold assets, operations and business undertakings relating to VinFast’s global research and development activities, intellectual property, after-sales operations and sales businesses, as well as the Company’s interests in certain international subsidiaries. VFTP will retain the assets and operations associated with the manufacturing business in Vietnam, shares in VinEG Green Energy Solutions JSC and an investment cooperation and business opportunity exploration agreement relating to real estate projects, and will continue to assume all financial indebtedness owed by VFTP to unrelated third-party creditors, subject to the relevant creditors’ approval. Following completion of the Split, VinFast is expected to hold approximately 99.9% of the voting rights in each of VFVN and VFTP.

● On May 27, 2026, the Company’s shareholders approved the proposed transfer by the Company of all of its interest in VFTP to a group of purchasers led by Future Investment Research and Development Joint Stock Company and including Mr. Pham Nhat Vuong (“Mr. Pham”), the Company’s Managing Director and CEO, as a minority purchaser, for an aggregate consideration of approximately VND13,309.6 billion (approximately US$530 million) (the “Share Transfer”). The Share Transfer will be implemented pursuant to a share purchase agreement entered into on May 12, 2026 between the Company and the purchasers. Completion of the Share Transfer is subject to the satisfaction or waiver of the closing conditions set forth in the Share Purchase Agreement. VFVN and VFTP will also enter into a manufacturing and supply agreement under which VFTP will produce VinFast-branded vehicles in Vietnam, in accordance with the designs, technical specifications and standards provided by VFVN.

● The proposed transactions do not affect any of the Company’s subsidiaries other than VFTP and its subsidiaries, nor do they affect the Company’s international business operations (including the Company’s continued ownership and operation of its manufacturing facilities in India and Indonesia), which will continue to be held by the Company and operated in the ordinary course of business.

● The transaction is part of the Company’s broader initiative to streamline its operating structure and transition toward a more capital-efficient, asset-light model in Vietnam, thereby improving VinFast’s financial structure and reducing future capital expenditure requirements. The Company will retain and focus on the development of its VinFast brand through higher value-added activities, including global product research and development, technology, brand building, and sales activities in Vietnam and globally.

● As previously disclosed, Vingroup announced in late 2024 its intention to provide VinFast with additional borrowings of up to VND35,000.0 billion (US$1.4 billion) between November 12, 2024, and November 12, 2026, to support VinFast’s continued growth. As of March 31, 2026, VinFast’s outstanding borrowings from Vingroup under this commitment were VND19,755.9 billion (US$787.0 million).

● Pursuant to a grant agreement dated November 12, 2024, Mr. Pham committed to provide up to VND50,000.0 billion (US$2.0 billion) in free grants to VinFast and its subsidiaries. As of March 31, 2026, a total of VND33,000.0 billion (US$1.3 billion) had been disbursed pursuant to the grant agreement.

● As of March 31, 2026, VinFast had total available liquidity of up to VND65,202.3 billion (US$2.6 billion), which consisted of cash and cash equivalents of VND5,505.5 billion (US$219.3 million), an undrawn credit line from Vingroup of up to VND15,244.1 billion (US$607.3 million), remaining grants from Mr. Pham of up to VND17,000.0 billion (US$677.2 million), an available commitment of VND24,305.4 billion (US$968.3 million) under a standby equity subscription agreement with YA II PN, Ltd. entered into in October 2023, and VND3,147.3 billion (US$125.4 million) the Company expects to receive from the Share Transfer after retiring the P-notes previously issued to VFTP.

Related Party Transactions

● Out of 58,577 EVs delivered in the first quarter of 2026, approximately 13% were to related parties of the Company.

● Out of 143,136 e-scooters and e-bikes delivered in the first quarter of 2026, approximately 1% were to related parties of the Company.

Legal and Arbitration Proceedings

● The Company is aware that on May 21, 2026, the North Carolina Department of Commerce, through the Office of the Attorney General of North Carolina, filed a complaint against VinFast Manufacturing US, LLC, a subsidiary of the Company ("VFUS"), in Wake County Superior Court, State of North Carolina. The complaint alleges that VFUS breached certain agreements with the State of North Carolina related to the development of a manufacturing facility in Chatham County, North Carolina, by failing to meet certain construction and operational benchmarks under the agreements and seeks to obtain ownership of the project site and damages. VFUS is evaluating the complaint and intends to respond through the appropriate legal process; however, no assurances can be made as to its outcome.

Mr. Pham Nhat Quan Anh, Chairman of VinFast, said : “VinFast has entered a new phase focused on disciplined execution, long-term sustainability, and scalable growth. As we continue expanding globally, we remain committed to strengthening our operational foundation, enhancing capital efficiency, and advancing our transition toward a more asset-light and resilient business model in Vietnam. We believe the long-term global shift toward electrification, supported by increasing focus on energy security and operating efficiency, continues to create meaningful opportunities for VinFast across our core markets”.

Ms. Lan Anh Nguyen, Chief Financial Officer of VinFast, added: “Our priorities remain centered on disciplined financial management, operational excellence, and the efficient deployment of capital. We continue to focus on improving productivity, optimizing our cost base, and strengthening the financial resilience of the business. These efforts are intended to support sustainable growth while maintaining the flexibility needed to execute our long-term strategic objectives”.

Financial Results for the First Quarter of 2026

● Vehicle sales were VND21,650.8 billion (US$862.5 million) in the first quarter of 2026, representing an increase of 42.3% from the first quarter of 2025 and a decrease of 42.6% from the fourth quarter of 2025. Revenue growth from the first quarter of 2025 was driven by an increase in EV sales volumes due to growth in the Vietnam market and contributions from overseas markets such as India, Indonesia and the Philippines. The decrease compared to the fourth quarter of 2025 was attributed to a decrease in EV sales volumes due to seasonality and the Lunar New Year in Vietnam.

Cost of Sales and Gross Margin

● Cost of sales was VND40,115.9 billion (US$1,598.1 million) in the first quarter of 2026, representing an increase of 82.0% from the first quarter of 2025 and a decrease of 30.0% from the fourth quarter of 2025. The increase compared to the first quarter of 2025 was primarily attributable to an increase in the cost of vehicles sold as the Company delivered more EVs to customers. The decrease compared to the fourth quarter of 2025 was attributed to a decrease in the cost of EVs sold due to a decrease in sale volumes during the low season.

● Gross loss was VND17,004.9 billion (US$677.4 million) in the first quarter of 2026, representing an increase of 196.4% from the first quarter of 2025 and a decrease of 6.5% from the fourth quarter of 2025.

● Gross margin was negative 73.6% in the first quarter of 2026, compared to negative 35.2% in the first quarter of 2025 and negative 46.4% in the fourth quarter of 2025. The decrease in gross margin from the first quarter of 2025 and the fourth quarter of 2025 was primarily attributable to (i) the recognition of the extended free charging program 8 launched in February 2026, which was recorded as a deduction of revenue beginning in the first quarter of 2026, and (ii) an increase in inventory write-down charges.

● Research and development (R&D) costs were VND2,535.4 billion (US$101.0 million) in the first quarter of 2026, representing an increase of 25.8% from the first quarter of 2025 and a decrease of 12.4% from the fourth quarter of 2025. The increase in R&D costs compared to the first quarter of 2025 was attributable to R&D costs for the Green models, Lac Hong, EC Van and models that VinFast plans to launch on its new vehicle platforms and E/E 2.0 architecture in 2026. The decrease in R&D costs compared to the fourth quarter of 2025 was attributable to the completion of certain projects, including the Minio Green model, in the fourth quarter of 2025.

● Selling, general and administrative expenses were VND2,539.5 billion (US$101.2 million) in the first quarter of 2026, representing a decrease of 32.3% from the first quarter of 2025 and a decrease of 73.9% from the fourth quarter of 2025. The decrease compared to the first quarter of 2025 and the fourth quarter of 2025 was primarily attributable to the absence of impairment charges being required in the first quarter of 2026, whereas impairment charges were recognized in the prior periods.

● Net other operating expenses were VND781.8 billion (US$31.1 million) in the first quarter of 2026, representing an increase in net operating expenses of 40.2% from the first quarter of 2025 and remaining relatively flat compared to the fourth quarter of 2025. The increase in net expense compared to the first quarter of 2025 was primarily driven by higher foreign exchange losses.

8 We launched the free charging program on 9 February 2026, providing EV customers with a monthly free charging quota at V-Green JSC stations for a period of up to three years, through February 2029. The incremental costs will be funded by Mr. Pham directly to V-Green JSC.

● Loss from operations was VND22,861.6 billion (US$910.7 million) in the first quarter of 2026 representing an increase of 89.6% from the first quarter of 2025 and a decrease of 27.5% from the fourth quarter of 2025, as a result of the foregoing.

Net Loss and Net Loss Per Share

● Net loss on financial instruments at fair value through profit or loss was VND335.2 billion (US$13.4 million) in the first quarter of 2026, representing a decrease of 48.2% from the first quarter of 2025 and a decrease of 41.0% from the fourth quarter of 2025. The change in net loss on financial instruments at fair value through profit or loss was mainly attributable to changes in the fair value of currency interest rate swaps contracts, financial liabilities in respect of dividend preference shares, warrants and other investments.

● Net loss was VND28,108.0 billion (US$1,119.8 million) in the first quarter of 2026, representing an increase of 58.9% from the first quarter of 2025 and a decrease of 25.1% from the fourth quarter of 2025.

● Net loss attributable to controlling interest was VND28,060.0 billion (US$1,117.8 million) in the first quarter of 2026, representing an increase of 58.8% from the first quarter of 2025 and a decrease of 25.1% from the fourth quarter of 2025.

● Basic and diluted net loss per ordinary share were both VND11,994 (US$0.48) in the first quarter of 2026, compared with VND7,556 (US$0.30) in the first quarter of 2025 and VND16,005 (US$0.64) in the fourth quarter of 2025.

● Cash and cash equivalents were VND5,505.5 billion (US$219.3 million) as of March 31, 2026.

● VinFast reiterates its global deliveries of at least 300,000 EVs for the full year 2026, supported by continued strong momentum in Asian markets, including Vietnam, Indonesia, India, and the Philippines, driven by the introduction of new models and the ongoing expansion of its distribution network. For two-wheelers, the Company expects 2026 deliveries to be at least 2.5 times its 2025 deliveries. These targets do not include potential deliveries to VinFast’s affiliate, GSM, under a framework agreement signed in May 2026 and described above.

● This business outlook reflects the Company’s current and preliminary view of the business and existing market conditions, which are subject to change. VinFast’s target markets are Vietnam, Indonesia, the Philippines, India, the Middle East, North America and Europe, and the Company continues to evaluate opportunities to expand into additional countries and regions across Europe, Asia, the Middle East and Africa. VinFast aims to grow its global footprint in markets where it identifies strong long-term EV adoption potential. This expansion strategy is aligned with Vingroup’s broader global development approach, leveraging the Vingroup ecosystem, partnerships and capital resources to support VinFast’s international growth.

● VinFast may establish or enlarge its presence in existing and new markets through a range of distribution models, with dealership partnerships representing the predominant approach in recent periods. To ensure sufficient production capacity to support its current and future operations, VinFast intends, from time to time, to expand its international manufacturing capacity, assembly and distribution capacity across its markets, including through the expansion of existing facilities as well as new brownfield and greenfield projects. While VinFast remains focused on the mini- through E-segments of the electric SUV market, it continues to evaluate a broader spectrum of vehicle types for future product development. VinFast regularly reviews its global expansion strategy and retains flexibility to accelerate, moderate or otherwise adjust its distribution, manufacturing, assembly, marketing and other market plans as conditions evolve.

● VinFast’s funding sources for its capital requirements to implement its growth strategy are expected to include loans, grants, and transactions with its major shareholders and affiliates, as well as public and private debt and equi