This information was revealed in Vingroup's reviewed financial report for the first half of 2025. Billionaire Pham Nhat Vuong's conglomerate reported a profit of over 2 trillion VND from divesting two subsidiaries, with 1,765 billion VND coming from Movian AI and approximately 391 billion VND from Lighthouse 2.

Previously, in March, Vingroup sold a 65% stake in Movian AI, a company specializing in technology and artificial intelligence (AI), to Qualcomm.

In April, the group transferred 100% of its ownership in Lighthouse 2 Real Estate Development Company Limited, a real estate business and brokerage firm.

Vinfast factory complex in Hai Phong. Photo: Vinfast.

Vinfast factory complex in Hai Phong. Photo: Vinfast.

At the end of August, Vingroup's Board of Directors approved a resolution to split VinFast Manufacturing and Trading Joint Stock Company into two entities. VinFast's charter capital will be reduced from 156,000 billion VND to over 50,000 billion VND.

Following the split, Vingroup established a new company, Novatech Research and Development Joint Stock Company, with a charter capital of 105,600 billion VND. This company operates in the fields of automobile, motorcycle, technology equipment, and electronic component manufacturing. Ngo Phi Hung, born in 1984, is the legal representative.

According to the reviewed semi-annual financial report, Novatech holds assets related to investment costs for projects under research and development. VinFast will lease the use of these assets from Novatech. Vingroup also plans to transfer all shares in this newly established company to Pham Nhat Vuong, the group's chairman.

For the first half of the year, Pham Nhat Vuong's conglomerate achieved 130,475 billion VND in revenue, double that of last year. Profit after tax reached 4,539 billion VND. According to Vingroup, the improved business results stem from residential real estate, industrial real estate, tourism, resorts, and entertainment.

Real estate sales still accounted for the largest proportion, nearly 70,500 billion VND, a 167% increase. This figure was recorded when Vinhomes, a subsidiary specializing in the development and management of residential real estate and urban areas, reported sales of 67,500 billion VND and revenue of about 138,200 billion VND at the end of Quarter II.

Vingroup's manufacturing revenue was close to 33,000 billion VND in the first half of the year, up 134% year-on-year, mainly from VinFast. In Quarter II alone, the electric vehicle manufacturer delivered 72,167 vehicles, 3.2 times more than in the same period last year. The second VinFast factory in Vung Ang Economic Zone (Ha Tinh) also commenced operations, with a capacity of 200,000 vehicles per year.

In the tourism and resort segment, Vinpearl earned 5,919 billion VND in revenue. The number of visitors to the chain's resorts increased by 16% year-on-year, demonstrating the brand's appeal.

Trong Hieu