VNG Corporation reports heavy losses
VNG is facing multi-trillion VND losses due to widespread investments in startups, particularly the e-wallet ZaloPay. Over the past three years, the company has accumulated over VND 4.8 trillion in losses, forcing a sharp reduction in its portfolio of associated companies. Despite strong revenue growth from its gaming segment, VNZ stock has plunged more than 60% in just one year.
VNG is facing multi-trillion VND losses due to widespread investments in startups, particularly the e-wallet ZaloPay. Over the past three years, the company has accumulated over VND 4.8 trillion in losses, forcing a sharp reduction in its portfolio of associated companies. Despite strong revenue growth from its gaming segment, VNZ stock has plunged more than 60% in just one year.
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