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SEGMENT REPORTING
 12 Months Ended
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

​