VNG, the Vietnamese tech group behind the Zalopay e-wallet, earned a net profit of 1,012 billion dong in the first nine months of 2026, the first time it has topped 1,000 billion dong since listing at the end of 2022, VnExpress reported. Third-quarter revenue exceeded 3,360 billion dong, up 22% year on year and a quarterly record since it began publishing financial statements four years ago. Net profit for the quarter was 420 billion dong, its third profitable quarter in a row.
Nine-month results, compiled by KBVN+
| Measure | Figure |
|---|---|
| Q3 revenue | Over 3,360 billion dong (+22%) |
| Q3 net profit | 420 billion dong |
| Nine-month revenue | Over 9,230 billion dong |
| Online games revenue | Nearly 6,100 billion dong (about 66%) |
| Zalopay revenue | 750 billion dong (nearly double) |
| Gross profit | Nearly 3,900 billion dong (margin above 42%) |
| Nine-month net profit | 1,012 billion dong |
| Total assets, end-September | Nearly 13,000 billion dong (up more than 1,600 billion since January) |
| Liabilities, end-September | Nearly 11,700 billion dong |
Online games remain the core business. Management said fintech arm Zalopay was the standout, with revenue nearly doubling and active users and payment volume both growing by double digits.
From VinaGame to AI ambitions
Founded in 2004 as VinaGame, the company started by publishing role-playing games before expanding into messaging, e-payments, online advertising and artificial intelligence. Chaired by Le Hong Minh, it is now close to its goal of ending five years of losses, VnExpress said.
This year's priorities centre on AI and overseas expansion, including AI services, game intellectual property, IT infrastructure and cloud computing. VNG wants at least 20% of revenue to come from AI products and services by 2030, and aims in the long run to become a global industrial company that started in Vietnam.
The stock
VNZ is the highest-priced stock on Vietnam's market, closing October at 533,000 dong a share for a market value of more than 16,000 billion dong. Investors will also watch the balance sheet, with liabilities of nearly 11,700 billion dong against assets of nearly 13,000 billion dong.
What comes next
The fourth quarter will decide whether VNG ends its five-year losing streak for the full year, with AI, overseas markets and cloud infrastructure as its stated priorities toward the 2030 target.