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SEGMENT REPORTING | 12 Months Ended
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Dec. 31, 2023
SEGMENT REPORTING |
SEGMENT REPORTING | 24.SEGMENT REPORTING The Company has three reportable segments, namely Automobiles, E-scooter and Spare parts & Aftermarket services. The Automobiles segment includes the design, development, manufacturing and sales of cars and electric buses and related battery lease and battery charging services for electric cars and buses. The E-scooter segment includes the design, development, manufacturing and sales of e-scooters and related battery lease and battery charging service for e-scooters. The sales of spare parts and rendering of aftermarket services for automobiles and e-scooters are included in the Spare parts & Aftermarket services segment. A combination of multiple business activities that does not meet the quantitative thresholds to qualify as reportable segments are grouped together as “All other”. The “All other” category mainly includes factory management service, other leasing activities. Our CODM does not evaluate operating segments using asset or liability information. Information about segments presented revenues, gross profit (loss) and operating profit (loss) by reportable segment were as follows: ​
24. | SEGMENT REPORTING (continued)
For the year ended December 31, 2023:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Currency: VND million
​ | ​ | ​ | ​ | ​ | ​ | Spare parts | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | and | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | aftermarket | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Automobiles | ​ | E-scooter | ​ | services | ​ | All other | ​ | Unallocated (**) | ​ | Total
Revenues(*) | ​ | 24,943,304 | ​ | 2,619,240 | ​ | 1,069,287 | ​ | 80,220 | ​ | — | ​ | 28,712,051
Cost of sales | ​ | (37,934,797) | ​ | (3,178,050) | ​ | (704,515) | ​ | (121,463) | ​ | — | ​ | (41,938,825)
Gross loss |  | (12,991,493) |  | (558,810) |  | 364,772 |  | (41,243) |  | — |  | (13,226,774)
Operating expenses |  | (21,297,408) |  | (738,912) |  | — |  | — |  | (5,190,065) |  | (27,226,385)
Operating loss |  | (34,288,901) |  | (1,297,722) |  | 364,772 |  | (41,243) |  | (5,190,065) |  | (40,453,159)
(*) Revenues from a group of customers under common control of Automobiles and E-scooters segments represents approximately VND19,435.3 billion (USD812.7 million) of the Company’s consolidated revenues (2022: VND 923.3 billion, 2021: VND488.1 billion). For the year ended December 31, 2022 (represented):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  |  |  |  |  |  |  | Currency: VND million
​ | ​ | ​ | ​ | ​ | ​ | Spare parts | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | and | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | aftermarket | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Automobiles | ​ | E-scooter | ​ | services | ​ | All other | ​ | Unallocated (**) | ​ | Total
Revenues | ​ | 11,136,049 | ​ | 1,505,461 | ​ | 2,213,369 | ​ | 110,712 | ​ | — | ​ | 14,965,591
Cost of sales | ​ | (22,854,342) | ​ | (2,323,472) | ​ | (1,962,906) | ​ | (91,776) | ​ | — | ​ | (27,232,496)
Gross loss |  | (11,718,293) |  | (818,011) |  | 250,463 |  | 18,936 |  | — |  | (12,266,905)
Operating expenses |  | (25,628,175) |  | (688,540) |  | — |  | — |  | (3,672,744) |  | (29,989,459)
Operating loss |  | (37,346,468) |  | (1,506,551) |  | 250,463 |  | 18,936 |  | (3,672,744) |  | (42,256,364)
​ For the year ended December 31, 2021:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  |  |  |  |  |  |  | Currency: VND million
​ | ​ | ​ | ​ | ​ | ​ | Spare parts | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | and | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | aftermarket | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Automobiles | ​ | E-scooter | ​ | services | ​ | All other | ​ | Unallocated (**) | ​ | Total
Revenues | ​ | 13,593,482 | ​ | 678,936 | ​ | 634,793 | ​ | 1,120,971 | ​ | — | ​ | 16,028,182
Cost of sales | ​ | (22,720,417) | ​ | (1,040,905) | ​ | (453,213) | ​ | (1,069,423) | ​ | — | ​ | (25,283,958)
Gross loss |  | (9,126,935) |  | (361,969) |  | 181,580 |  | 51,548 |  | — |  | (9,255,776)
Operating expenses |  | (15,525,771) |  | (499,865) |  | — |  | — |  | (1,785,989) |  | (17,811,625)
Operating loss |  | (24,652,706) |  | (861,834) |  | 181,580 |  | 51,548 |  | (1,785,989) |  | (27,067,401)
​ ​
24. | SEGMENT REPORTING (continued)
For the year ended December 31, 2023 (convenience translation): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Currency: USD
​ | ​ | ​ | ​ | ​ | ​ | Spare parts and | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | aftermarket | ​ | ​ | ​ | ​ | ​ |
​ | ​ | Automobiles | ​ | E-scooter | ​ | services | ​ | All other | ​ | Unallocated(*) | ​ | Total
Revenues | ​ | 1,045,139,697 | ​ | 109,747,763 | ​ | 44,803,779 | ​ | 3,361,261 | ​ | — | ​ | 1,203,052,500
Cost of sales | ​ | (1,589,491,191) | ​ | (133,162,239) | ​ | (29,519,609) | ​ | (5,089,386) | ​ | — | ​ | (1,757,262,425)
Gross loss | ​ | (544,351,494) | ​ | (23,414,476) | ​ | 15,284,170 | ​ | (1,728,125) | ​ | — | ​ | (554,209,925)
Operating expenses | ​ | (892,374,424) | ​ | (30,960,865) | ​ | — | ​ | — | ​ | (217,466,899) | ​ | (1,140,802,188)
Operating loss | ​ | (1,436,725,918) | ​ | (54,375,341) | ​ | 15,284,170 | ​ | (1,728,125) | ​ | (217,466,899) | ​ | (1,695,012,113)
(**) Unallocated expenses are mainly related to general and corporate administrative costs such as wages and salaries for employees responsible for general corporate functions, including accounting, finance, tax, legal and human relations; technology-related fees; depreciation and amortization of fixed assets used for administration purpose; professional fees and other miscellaneous items that are not allocated to segments. These expenses are excluded from segment results as they are not reviewed by the Chief Operating Decision Maker as part of segment performance. The following table presents revenues by geographic area based on the sales location of the products: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the year ended |  | For the year ended | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021 | ​ | December 31, 2022 | ​ | For the year ended December 31,2023
​ | ​ | VND million | ​ | VND million | ​ | VND million |  | USD
Vietnam |  | 14,996,611 |  | 14,965,591 | ​ | 27,975,180 |  | 1,172,177,156
United States |  | 1,031,571 |  | — | ​ | 159,164 |  | 6,669,069
Canada | ​ | — | ​ | — | ​ | 577,707 | ​ | 24,206,277
Total |  | 16,028,182 |  | 14,965,591 | ​ | 28,712,051 |  | 1,203,052,500
​ The following table presents revenues earned from customers for each group of similar products and services: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the year ended |  | For the year ended | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021 | ​ | December 31, 2022 | ​ | For the year ended December 31,2023
​ | ​ | VND million | ​ | VND million | ​ | VND million |  | USD
Sales of ICE vehicles |  | 13,107,978 |  | 6,688,467 | ​ | 220,397 |  | 9,234,769
Sales of e-cars |  | 5,402 |  | 3,582,632 | ​ | 23,499,733 |  | 984,653,189
Sales of e-buses |  | 480,102 |  | 847,128 | ​ | 628,115 |  | 26,318,403
Sales of e-scooters |  | 678,936 |  | 1,385,479 | ​ | 2,020,921 |  | 84,677,825
Sale of spare parts |  | 538,216 |  | 2,072,628 | ​ | 882,146 |  | 36,962,457
Sale of smartphones |  | 1,031,571 |  | — | ​ | — |  | —
Rendering of aftermarket services |  | 96,577 |  | 140,689 | ​ | 187,141 |  | 7,841,322
Revenue from leasing activities and others |  | 89,400 |  | 248,568 | ​ | 1,273,598 |  | 53,364,535
Total revenue |  | 16,028,182 |  | 14,965,591 | ​ | 28,712,051 |  | 1,203,052,500
​

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