K\u1ebf ho\u1ea1ch t\u00e1i c\u1ea5u tr\u00fac \u201ckh\u1eafc xu\u1ea5t \u2013 kh\u1eafc nh\u1eadp\u201d ph\u1ee9c t\u1ea1p li\u00ean quan \u0111\u1ebfn c\u00f4ng ty xe h\u01a1i \u0111i\u1ec7n VinFast, g\u1ea7n \u0111\u00e2y \u0111\u00e3 \u0111\u01b0\u1ee3c th\u00f4ng qua, h\u00e9 l\u1ed9 th\u00eam m\u1ed9t ch\u01b0\u01a1ng trong cu\u1ed1n c\u1ea9m nang c\u00e1c k\u1ef9 thu\u1eadt t\u00e0i ch\u00ednh \u0111\u1ec9nh cao c\u1ee7a t\u1ef7 ph\u00fa Ph\u1ea1m Nh\u1eadt V\u01b0\u1ee3ng.<\/p>\n
Gi\u1eefa l\u00fac VinFast li\u00ean t\u1ee5c c\u00f4ng b\u1ed1 nh\u1eefng con s\u1ed1 b\u00e1n h\u00e0ng \u1ea5n t\u01b0\u1ee3ng, nh\u1eefng nghi\u1ec7p v\u1ee5 nh\u01b0 th\u1ebf n\u00e0y l\u1ea1i m\u1edf ra m\u1ed9t c\u00e2u chuy\u1ec7n kh\u00e1c v\u1ec1 \u00e1p l\u1ef1c t\u00e0i ch\u00ednh kh\u1ed5ng l\u1ed3 v\u00e0 m\u1ed9t cu\u1ed9c \u0111ua ngh\u1eb9t th\u1edf tr\u01b0\u1edbc khi lu\u1eadt ch\u01a1i k\u1ebf to\u00e1n c\u00f3 th\u1ec3 s\u1eafp thay \u0111\u1ed5i.<\/p>\n
B\u1ec1 ngo\u00e0i, c\u00e2u chuy\u1ec7n c\u1ee7a VinFast \u0111ang \u0111\u01b0\u1ee3c t\u00f4 v\u1ebd b\u1eb1ng nh\u1eefng gam m\u00e0u s\u00e1ng. C\u00e1c b\u00e1o c\u00e1o m\u1edbi nh\u1ea5t cho th\u1ea5y m\u1ed9t s\u1ef1 t\u0103ng tr\u01b0\u1edfng \u0111\u00e1ng kinh ng\u1ea1c: ch\u1ec9 ri\u00eang trong Th\u00e1ng B\u1ea3y, 2025, h\u00e3ng xe \u0111i\u1ec7n n\u00e0y b\u00e1n \u0111\u01b0\u1ee3c 11,479 xe, m\u1ed9t con s\u1ed1 k\u1ef7 l\u1ee5c. Th\u00e0nh t\u00edch n\u00e0y \u0111\u00e3 n\u00e2ng t\u1ed5ng s\u1ed1 xe \u0111\u01b0\u1ee3c giao t\u1edbi tay kh\u00e1ch h\u00e0ng trong b\u1ea3y th\u00e1ng \u0111\u1ea7u n\u0103m l\u00ean 79,048 chi\u1ebfc. Nh\u1eefng con s\u1ed1 bi\u1ebft n\u00f3i n\u00e0y v\u1ebd n\u00ean m\u1ed9t b\u1ee9c tranh v\u1ec1 m\u1ed9t th\u01b0\u01a1ng hi\u1ec7u \u0111ang tr\u00ean \u0111\u00e0 chinh ph\u1ee5c th\u1ecb tr\u01b0\u1eddng, t\u1eebng b\u01b0\u1edbc c\u1ee7ng c\u1ed1 v\u1ecb th\u1ebf tr\u00ean b\u1ea3n \u0111\u1ed3 xe h\u01a1i to\u00e0n c\u1ea7u.<\/p>\n
Th\u1ebf nh\u01b0ng, b\u1ee9c tranh m\u00e0u h\u1ed3ng n\u00e0y l\u1ea1i \u0111\u1ed1i l\u1eadp ho\u00e0n to\u00e0n v\u1edbi nh\u1eefng con s\u1ed1 \u0111\u01b0\u1ee3c ghi nh\u1eadn tr\u00ean s\u1ed5 s\u00e1ch k\u1ebf to\u00e1n. B\u00e1o c\u00e1o t\u00e0i ch\u00ednh cho th\u1ea5y, t\u00ednh \u0111\u1ebfn cu\u1ed1i qu\u00fd 1-2025, kho\u1ea3n l\u1ed7 l\u0169y k\u1ebf c\u1ee7a VinFast \u0111\u00e3 ch\u1ea1m m\u1ed1c g\u1ea7n $11.5 t\u1ef7, t\u1ee9c h\u01a1n 285,000 t\u1ef7 VN\u0110. S\u1ef1 t\u01b0\u01a1ng ph\u1ea3n gay g\u1eaft n\u00e0y d\u1eabn \u0111\u1ebfn m\u1ed9t ngh\u1ecbch l\u00fd l\u1edbn \u0111\u00e3 t\u1ed3n t\u1ea1i trong nhi\u1ec1u n\u0103m qua: VinFast li\u00ean t\u1ee5c g\u00e1nh nh\u1eefng kho\u1ea3n l\u1ed7 kh\u1ed5ng l\u1ed3, nh\u01b0ng c\u00f4ng ty m\u1eb9 VinGroup v\u1eabn th\u01b0\u1eddng xuy\u00ean b\u00e1o l\u00e3i. L\u00fd gi\u1ea3i cho ngh\u1ecbch l\u00fd n\u00e0y nh\u01b0 th\u1ebf n\u00e0o?<\/p>\n
B\u01a1m ti\u1ec1n t\u1ea1o doanh thu v\u00e0 gi\u1ea3i c\u1ee9u VinFast<\/strong><\/p>\n Th\u00f4ng th\u01b0\u1eddng, s\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa Chu\u1ea9n M\u1ef1c K\u1ebf To\u00e1n Vi\u1ec7t Nam (VAS) v\u00e0 M\u1ef9 (US GAAP) \u0111\u00e3 gi\u00fap c\u00e1c kho\u1ea3n t\u00e0i tr\u1ee3 tr\u1ef1c ti\u1ebfp c\u1ee7a \u00f4ng Ph\u1ea1m Nh\u1eadt V\u01b0\u1ee3ng, v\u1ed1n ch\u1ec9 \u0111\u01b0\u1ee3c ghi nh\u1eadn t\u0103ng v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu tr\u00ean s\u1ed5 s\u00e1ch c\u1ee7a VinFast theo chu\u1ea9n m\u1ef1c M\u1ef9, l\u1ea1i \u0111\u01b0\u1ee3c h\u1ea1ch to\u00e1n th\u00e0nh \u201cthu nh\u1eadp kh\u00e1c\u201d trong b\u00e1o c\u00e1o t\u00e0i ch\u00ednh h\u1ee3p nh\u1ea5t c\u1ee7a VinGroup theo chu\u1ea9n m\u1ef1c Vi\u1ec7t Nam v\u00e0 gi\u00fap t\u1eadp \u0111o\u00e0n VinGroup c\u00f3 l\u1ee3i nhu\u1eadn.<\/p>\n C\u1ee5 th\u1ec3 trong qu\u00fd II-2025, d\u00f9 ho\u1ea1t \u0111\u1ed9ng kinh doanh c\u1ed1t l\u00f5i c\u1ee7a VinGroup l\u1ed7 13,900 t\u1ef7 VN\u0110 \u2013 m\u1ed9t k\u1ebft qu\u1ea3 tr\u1ef1c ti\u1ebfp \u0111\u1ebfn t\u1eeb kho\u1ea3n l\u1ed7 l\u00ean t\u1edbi 24,400 t\u1ef7 VN\u0110 c\u1ee7a ri\u00eang m\u1ea3ng s\u1ea3n xu\u1ea5t m\u00e0 VinFast l\u00e0 ch\u1ee7 y\u1ebfu trong 6 th\u00e1ng \u0111\u1ea7u n\u0103m, t\u1eadp \u0111o\u00e0n n\u00e0y v\u1eabn b\u00e1o l\u00e3i sau thu\u1ebf g\u1ea7n 2,300 t\u1ef7 VN\u0110. \u201cPh\u00e9p m\u00e0u\u201d n\u00e0y \u0111\u1ebfn t\u1eeb kho\u1ea3n t\u00e0i tr\u1ee3 18,000 t\u1ef7 VN\u0110 c\u1ee7a \u00f4ng V\u01b0\u1ee3ng, \u0111\u01b0\u1ee3c VAS cho ph\u00e9p ghi nh\u1eadn nh\u01b0 m\u1ed9t kho\u1ea3n thu nh\u1eadp, gi\u00fap \u0111\u1ea3o ng\u01b0\u1ee3c ho\u00e0n to\u00e0n k\u1ebft qu\u1ea3 kinh doanh.<\/p>\n Tuy nhi\u00ean, theo k\u1ebf ho\u1ea1ch sang n\u0103m c\u1ee7a B\u1ed9 T\u00e0i Ch\u00ednh, m\u1ecdi c\u00f4ng ty ni\u00eam y\u1ebft \u0111\u1ec1u ph\u1ea3i l\u1eadp b\u00e1o c\u00e1o t\u00e0i ch\u00ednh tu\u00e2n th\u1ee7 theo chu\u1ea9n m\u1ef1c k\u1ebf to\u00e1n qu\u1ed1c t\u1ebf IFRS, qua \u0111\u00f3 ph\u00e9p m\u00e0u \u201cdoanh thu kh\u00e1c\u201d c\u1ee7a \u00f4ng V\u01b0\u1ee3ng s\u1ebd kh\u00f4ng c\u00f2n t\u00e1c d\u1ee5ng. V\u00ec th\u1ebf, g\u1ea7n \u0111\u00e2y \u00f4ng V\u01b0\u1ee3ng d\u1ea7n thay \u0111\u1ed5i chi\u00eau tr\u00f2 t\u00e0i ch\u00ednh b\u01a1m ti\u1ec1n v\u00e0o VinFast m\u1ed9t c\u00e1ch tinh vi h\u01a1n, bi\u1ebfn c\u00e1c kho\u1ea3n t\u00e0i tr\u1ee3 th\u00e0nh tr\u1ef1c ti\u1ebfp doanh thu t\u1eeb mua b\u00e1n c\u00f4ng ty cho c\u1ea3 t\u1eadp \u0111o\u00e0n v\u00e0 ch\u00ednh VinFast th\u00f4ng qua th\u1ee7 thu\u1eadt \u201ckh\u1eafc nh\u1eadp \u2013 kh\u1eafc xu\u1ea5t.\u201d<\/p>\n C\u1ee5 th\u1ec3, trong k\u1ebf ho\u1ea1ch t\u00e1i c\u1ea5u tr\u00fac c\u00f4ng ty con c\u1ee7a VinFast Auto Ltd (VinFast M\u1ef9) l\u00e0 C\u00f4ng Ty C\u1ed5 Ph\u1ea7n S\u1ea3n Xu\u1ea5t v\u00e0 Kinh Doanh VinFast (VFTP) t\u1ea1i Vi\u1ec7t Nam m\u1edbi \u0111\u01b0\u1ee3c th\u00f4ng qua, VFTP s\u1ebd t\u00e1ch th\u00e0nh 2 c\u00f4ng ty l\u00e0 VFTP (m\u1edbi) v\u00e0 Novatech. Trong \u0111\u00f3, Novatech \u0111\u01b0\u1ee3c l\u1eadp ra \u0111\u1ec3 g\u00e1nh nh\u1eadn to\u00e0n b\u1ed9 chi ph\u00ed nghi\u00ean c\u1ee9u v\u00e0 ph\u00e1t tri\u1ec3n (R&D) kh\u1ed5ng l\u1ed3 trong qu\u00e1 kh\u1ee9. Sau \u0111\u00f3, c\u00f4ng ty VinFast (M\u1ef9) b\u00e1n l\u1ea1i c\u00f4ng ty Novatech cho \u00f4ng V\u01b0\u1ee3ng v\u1edbi gi\u00e1 39,800 t\u1ef7 VN\u0110, (t\u01b0\u01a1ng \u0111\u01b0\u01a1ng $1.6 t\u1ef7). \u0110\u00e1ng l\u01b0u \u00fd, Novatech v\u1edbi c\u00e1c t\u00e0i s\u1ea3n R&D c\u0169 \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 gi\u00e1 tr\u1ecb ch\u1ec9 \u1edf m\u1ee9c 17,250 ngh\u00ecn t\u1ef7 VN\u0110 (t\u01b0\u01a1ng \u0111\u01b0\u01a1ng $679 tri\u1ec7u). Nh\u01b0 v\u1eady, giao d\u1ecbch n\u00e0y \u0111\u00e3 t\u1ea1o ra m\u1ed9t kho\u1ea3n l\u1ee3i nhu\u1eadn t\u00e0i ch\u00ednh b\u1ea5t th\u01b0\u1eddng tr\u00ean s\u1ed5 s\u00e1ch c\u1ee7a VinFast tr\u1ecb gi\u00e1 kho\u1ea3ng $921 tri\u1ec7u (ch\u00eanh l\u1ec7ch gi\u1eefa gi\u00e1 b\u00e1n v\u00e0 gi\u00e1 tr\u1ecb h\u1ee3p l\u00fd).<\/p>\n V\u1ec1 b\u1ea3n ch\u1ea5t, \u0111\u00e2y l\u00e0 m\u1ed9t nghi\u1ec7p v\u1ee5 \u201cx\u00e0o n\u1ea5u\u201d t\u00e0i ch\u00ednh \u0111a m\u1ee5c ti\u00eau: (1) \u201cL\u00e0m s\u1ea1ch\u201d b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n c\u1ee7a VinFast b\u1eb1ng c\u00e1ch lo\u1ea1i b\u1ecf kh\u1ed1i t\u00e0i s\u1ea3n R&D c\u1ed3ng k\u1ec1nh, v\u00e0 kh\u00f4ng tr\u1ef1c ti\u1ebfp sinh l\u1eddi; (2) B\u01a1m th\u1eb3ng m\u1ed9t l\u01b0\u1ee3ng ti\u1ec1n t\u00e0i tr\u1ee3 \u00f4ng V\u01b0\u1ee3ng $1.6 t\u1ef7 v\u00e0o cho VinFast thay v\u00ec tr\u1ef1c ti\u1ebfp nh\u01b0 tr\u01b0\u1edbc \u0111\u00e2y; v\u00e0 (3) T\u1ea1o ra m\u1ed9t kho\u1ea3n l\u1ee3i nhu\u1eadn k\u1ebf to\u00e1n g\u1ea7n $1 t\u1ef7 \u0111\u1ec3 c\u1ea3i thi\u1ec7n k\u1ebft qu\u1ea3 kinh doanh cho c\u1ea3 VinFast v\u00e0 t\u1eadp \u0111o\u00e0n m\u1eb9 VinGroup.<\/p>\n \u0110\u00e2y kh\u00f4ng ph\u1ea3i l\u00e0 l\u1ea7n \u0111\u1ea7u ti\u00ean \u00f4ng V\u01b0\u1ee3ng d\u00f9ng c\u00e1c c\u00f4ng ty th\u1ef1c th\u1ec3 c\u00f3 m\u1ee5c \u0111\u00edch \u0111\u1eb7c bi\u1ec7t, hay c\u00f2n g\u1ecdi l\u00e0 SPEs (Special Purpose Entities) nh\u01b0 Novatech \u0111\u1ec3 t\u1ea1o doanh thu t\u1eeb c\u00e1c kho\u1ea3n b\u01a1m ti\u1ec1n huy \u0111\u1ed9ng v\u1ed1n nh\u01b0 v\u1eady.<\/p>\n H\u1ed3i Th\u00e1ng N\u0103m, 2024, \u00f4ng V\u01b0\u1ee3ng ph\u00e2n t\u00e1ch c\u00f4ng ty con s\u1ea3n xu\u1ea5t pin c\u1ee7a VinGroup l\u00e0 VinES th\u00e0nh 2 c\u00f4ng ty l\u00e0 VinEG v\u00e0 VinES (m\u1edbi). Trong \u0111\u00f3, VinEG bao g\u1ed3m to\u00e0n b\u1ed9 m\u1ea3ng kinh doanh c\u1ed1t l\u00f5i v\u1ec1 s\u1ea3n xu\u1ea5t v\u00e0 l\u1eafp r\u00e1p pin v\u00e0 \u0111\u01b0a v\u1ec1 VinFast, gi\u00fap h\u00e3ng xe \u0111i\u1ec7n n\u00e0y ngay l\u1eadp t\u1ee9c s\u1edf h\u1eefu n\u0103ng l\u1ef1c s\u1ea3n xu\u1ea5t pin m\u00e0 kh\u00f4ng c\u1ea7n ph\u1ea3i \u0111\u1ea7u t\u01b0 x\u00e2y d\u1ef1ng t\u1eeb \u0111\u1ea7u. \u0110\u1ed3ng th\u1eddi, VinGroup b\u00e1n c\u00f4ng ty \u201cr\u1ed7ng\u201d VinES (m\u1edbi) cho ch\u00ednh \u00f4ng ch\u1ee7 t\u1ecbch Ph\u1ea1m Nh\u1eadt V\u01b0\u1ee3ng. Giao d\u1ecbch n\u00e0y gi\u00fap VinGroup ghi nh\u1eadn m\u1ed9t kho\u1ea3n thu nh\u1eadp tr\u1ecb gi\u00e1 1,820 t\u1ef7 VN\u0110 v\u00e0o b\u00e1o c\u00e1o t\u00e0i ch\u00ednh c\u1ee7a m\u00ecnh.<\/p>\n \u0110\u00f3 l\u00e0 c\u00f2n ch\u01b0a k\u1ec3 \u0111\u1ebfn th\u01b0\u01a1ng v\u1ee5 C\u00f4ng ty CP \u0110\u1ea7u T\u01b0 v\u00e0 Kinh Doanh Nam An, v\u1edbi ng\u01b0\u1eddi \u0111\u1ea1i di\u1ec7n theo ph\u00e1p lu\u1eadt l\u00e0 \u00f4ng Ho\u00e0ng Qu\u1ed1c Th\u1ee7y, m\u1ed9t trong nh\u1eefng ng\u01b0\u1eddi s\u00e1ng l\u1eadp Technocom (ti\u1ec1n th\u00e2n c\u1ee7a VinGroup) c\u00f9ng \u00f4ng Ph\u1ea1m Nh\u1eadt V\u01b0\u1ee3ng, k\u00fd k\u1ebft h\u1ee3p \u0111\u1ed3ng h\u1ee3p t\u00e1c \u0111\u1ea7u t\u01b0 v\u1edbi VinFast trong 18 th\u00e1ng v\u1edbi gi\u00e1 tr\u1ecb h\u01a1n 5,800 t\u1ef7 VN\u0110 v\u00e0o Th\u00e1ng Ba 2023.<\/p>\n \u0110i\u1ec1u \u0111\u00e1ng n\u00f3i l\u00e0, ngu\u1ed3n ti\u1ec1n \u201c\u0111\u1ea7u t\u01b0\u201d n\u00e0y kh\u00f4ng \u0111\u1ebfn t\u1eeb v\u1ed1n t\u1ef1 c\u00f3 c\u1ee7a Nam An. Tr\u01b0\u1edbc \u0111\u00f3, ch\u00ednh Nam An \u0111\u00e3 d\u00f9ng h\u1ee3p \u0111\u1ed3ng n\u00e0y l\u00e0m t\u00e0i s\u1ea3n b\u1ea3o \u0111\u1ea3m m\u1ed9t kho\u1ea3n vay \u0111\u01b0\u1ee3c c\u1ea5u tr\u00fac d\u01b0\u1edbi d\u1ea1ng m\u1ed9t l\u00f4 tr\u00e1i phi\u1ebfu tr\u1ecb gi\u00e1 h\u01a1n 4,700 t\u1ef7 VN\u0110 do C\u00f4ng Ty Ch\u1ee9ng Kho\u00e1n Techcombank (TCBS) ph\u00e1t h\u00e0nh, v\u1edbi l\u00e3i su\u1ea5t 13%\/n\u0103m.<\/p>\n N\u1ebfu t\u00ednh to\u00e1n, kho\u1ea3n vay 4,700 t\u1ef7 VN\u0110 c\u1ed9ng v\u1edbi l\u00e3i su\u1ea5t 13% ph\u1ea3i tr\u1ea3 trong 18 th\u00e1ng s\u1ebd g\u1ea7n nh\u01b0 t\u01b0\u01a1ng \u0111\u01b0\u01a1ng v\u1edbi gi\u00e1 tr\u1ecb h\u01a1n 5,800 t\u1ef7 \u0111\u1ed3ng c\u1ee7a h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0 v\u00e0o VinFast c\u1ee7a Nam An. Nh\u01b0 v\u1eady, th\u00f4ng qua m\u1ed9t ph\u00e1p nh\u00e2n \u0111\u1eb7c bi\u1ec7t (SPE) nh\u01b0 Nam An, VinFast \u0111\u00e3 bi\u1ebfn m\u1ed9t kho\u1ea3n vay n\u1ee3 k\u00e8m theo g\u00e1nh n\u1eb7ng l\u00e3i su\u1ea5t, th\u00e0nh m\u1ed9t kho\u1ea3n thu nh\u1eadp t\u1eeb h\u1ee3p t\u00e1c \u0111\u1ea7u t\u01b0, gi\u00fap l\u00e0m \u0111\u1eb9p s\u1ed5 s\u00e1ch cho c\u1ea3 VinFast v\u00e0 c\u00f4ng ty m\u1eb9 VinGroup.<\/p>\n H\u00e9 l\u1ed9 c\u00e1ch th\u1ee9c VinGroup vay ti\u1ec1n qu\u1ed1c t\u1ebf cho VinFast<\/strong><\/p>\n Th\u00f4ng c\u00e1o v\u1ec1 k\u1ebf ho\u1ea1ch t\u00e1i c\u1ea5u tr\u00fac t\u00e1ch c\u00f4ng ty VFTP kh\u00f4ng ch\u1ec9 d\u1eebng l\u1ea1i \u1edf m\u1ed9t nghi\u1ec7p v\u1ee5 l\u00e0m \u0111\u1eb9p s\u1ed5 s\u00e1ch, m\u00e0 c\u00f2n h\u00e9 l\u1ed9 th\u00eam v\u1ec1 c\u00e1ch th\u1ee9c \u00f4ng Ph\u1ea1m Nh\u1eadt V\u01b0\u1ee3ng d\u00f9ng ch\u00ednh c\u00f4ng ty con s\u1ea3n xu\u1ea5t n\u00e0y nh\u01b0 m\u1ed9t ph\u00e1p nh\u00e2n \u0111\u1eb7c bi\u1ec7t \u0111\u1ec3 huy \u0111\u1ed9ng v\u1ed1n cho VinFast. \u0110\u1ed3ng th\u1eddi, n\u00f3 c\u0169ng ph\u01a1i b\u00e0y m\u1ed9t t\u00ecnh th\u1ebf \u201cch\u1eb3ng \u0111\u1eb7ng \u0111\u1eebng\u201d khi VinGroup ph\u1ea3i x\u00f3a nh\u1eefng kho\u1ea3n n\u1ee3 kh\u1ed5ng l\u1ed3 cho VinFast tr\u01b0\u1edbc nh\u1eefng r\u1ee7i ro t\u00e0i ch\u00ednh \u0111ang ch\u1ef1c ch\u1edd.<\/p>\n C\u01a1 ch\u1ebf vay v\u1ed1n tinh vi n\u00e0y \u0111\u01b0\u1ee3c th\u1ec3 hi\u1ec7n r\u00f5 nh\u1ea5t qua th\u01b0\u01a1ng v\u1ee5 C\u1ed5 Ph\u1ea7n \u01afu \u0110\u00e3i C\u1ed5 T\u1ee9c (DPS) lo\u1ea1i 2 (DPS2). VinGroup \u0111\u1ee9ng ra vay $625 tri\u1ec7u t\u1eeb c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 qu\u1ed1c t\u1ebf. \u0110\u1ec3 b\u1ea3o \u0111\u1ea3m c\u00f3 ti\u1ec1n tr\u1ea3 n\u1ee3 khi \u0111\u1ebfn h\u1ea1n, VinGroup k\u00fd m\u1ed9t th\u1ecfa thu\u1eadn (ch\u00ednh l\u00e0 h\u1ee3p \u0111\u1ed3ng quy\u1ec1n ch\u1ecdn) v\u1edbi c\u00f4ng ty VinFast ni\u00eam y\u1ebft \u1edf M\u1ef9 s\u1ebd mua l\u1ea1i c\u1ed5 ph\u1ea7n DPS2, n\u1ebfu c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i y\u00eau c\u1ea7u tr\u1ea3 n\u1ee3. Ch\u00ednh v\u00ec th\u1ecfa thu\u1eadn n\u00e0y, VinFast b\u1ed7ng d\u01b0ng ph\u1ea3i g\u00e1nh m\u1ed9t kho\u1ea3n n\u1ee3 ti\u1ec1m t\u00e0ng kh\u1ed5ng l\u1ed3 tr\u00ean s\u1ed5 s\u00e1ch, d\u00f9 ban \u0111\u1ea7u h\u1ecd kh\u00f4ng ph\u1ea3i l\u00e0 ng\u01b0\u1eddi tr\u1ef1c ti\u1ebfp \u0111i vay. Kho\u1ea3n n\u1ee3 n\u00e0y, do \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 l\u1ea1i theo gi\u00e1 tr\u1ecb h\u1ee3p l\u00fd, \u0111\u00e3 ph\u00ecnh to l\u00ean g\u1ea7n $900 tri\u1ec7u v\u00e0 tr\u1edf th\u00e0nh n\u1ee3 ng\u1eafn h\u1ea1n, t\u1ea1o ra m\u1ed9t \u00e1p l\u1ef1c thanh kho\u1ea3n kh\u1ed5ng l\u1ed3. V\u1ec1 b\u1ea3n ch\u1ea5t, \u0111\u00e2y l\u00e0 m\u1ed9t c\u00e1ch \u0111\u1ec3 vay n\u1ee3 qu\u1ed1c t\u1ebf, nh\u01b0ng ngh\u0129a v\u1ee5 n\u1ee3 l\u1ea1i \u0111\u01b0\u1ee3c ghi nh\u1eadn t\u1ea1i c\u00f4ng ty VFTP \u1edf Vi\u1ec7t Nam.<\/p>\n T\u00ecnh h\u00ecnh t\u00e0i ch\u00ednh c\u1ee7a VinFast b\u1ea5p b\u00eanh \u0111\u1ebfn m\u1ee9c, VinGroup \u0111\u00e3 ph\u1ea3i th\u1ef1c hi\u1ec7n m\u1ed9t \u0111\u1ed9ng th\u00e1i \u201cch\u1eb3ng \u0111\u1eb7ng \u0111\u1eebng\u201d c\u00f2n l\u1edbn h\u01a1n: x\u00f3a n\u1ee3. T\u1eadp \u0111o\u00e0n c\u00f4ng b\u1ed1 k\u1ebf ho\u1ea1ch chuy\u1ec3n \u0111\u1ed5i t\u1ed1i \u0111a 80,000 t\u1ef7 VN\u0110 c\u00e1c kho\u1ea3n cho vay n\u1ed9i b\u1ed9 th\u00e0nh v\u1ed1n g\u00f3p cho VinFast. \u0110\u00e2y l\u00e0 m\u1ed9t b\u00fat to\u00e1n k\u1ebf to\u00e1n, kh\u00f4ng c\u00f3 d\u00f2ng ti\u1ec1n m\u1edbi, nh\u01b0ng l\u1ea1i r\u1ea5t quan tr\u1ecdng. N\u1ebfu kh\u00f4ng l\u00e0m v\u1eady, kho\u1ea3n ph\u1ea3i thu kh\u1ed5ng l\u1ed3 n\u00e0y tr\u00ean s\u1ed5 s\u00e1ch VinGroup s\u1ebd s\u1edbm tr\u1edf th\u00e0nh n\u1ee3 kh\u00f3 \u0111\u00f2i, v\u00e0 VinGroup s\u1ebd bu\u1ed9c ph\u1ea3i tr\u00edch l\u1eadp m\u1ed9t kho\u1ea3n d\u1ef1 ph\u00f2ng h\u00e0ng ch\u1ee5c ngh\u00ecn t\u1ef7 \u0111\u1ed3ng, m\u1ed9t \u0111\u1ed9ng th\u00e1i c\u00f3 th\u1ec3 \u201c\u0111\u00e1nh s\u1eadp\u201d l\u1ee3i nhu\u1eadn c\u1ee7a c\u1ea3 t\u1eadp \u0111o\u00e0n.<\/p>\n C\u00f4ng c\u1ee5 ch\u00ednh \u0111\u1ec3 th\u1ef1c hi\u1ec7n nghi\u1ec7p v\u1ee5 n\u00e0y l\u00e0 c\u00e1c lo\u1ea1i DPS n\u1ed9i b\u1ed9, \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh b\u1edfi VinFast Vi\u1ec7t Nam cho ch\u00ednh VinGroup. Lo\u1ea1i m\u1edbi nh\u1ea5t l\u00e0 DPS5, \u0111\u01b0\u1ee3c t\u1ea1o ra cho k\u1ebf ho\u1ea1ch x\u00f3a n\u1ee3 80,000 t\u1ef7 VN\u0110, v\u1edbi c\u1ed5 t\u1ee9c c\u1ed1 \u0111\u1ecbnh l\u00ean t\u1edbi 12%\/n\u0103m v\u00e0 c\u00f3 t\u00ednh l\u0169y k\u1ebf, ph\u1ea3n \u00e1nh r\u00f5 b\u1ea3n ch\u1ea5t c\u1ee7a m\u1ed9t kho\u1ea3n n\u1ee3 l\u00e3i su\u1ea5t cao.<\/p>\n \u0110\u00e2y kh\u00f4ng ph\u1ea3i l\u00e0 l\u1ea7n \u0111\u1ea7u ti\u00ean. Tr\u01b0\u1edbc \u0111\u00f3, v\u00e0o Th\u00e1ng M\u01b0\u1eddi Hai, 2022, VinGroup \u0111\u00e3 th\u1ef1c hi\u1ec7n m\u1ed9t th\u01b0\u01a1ng v\u1ee5 t\u01b0\u01a1ng t\u1ef1 v\u1edbi DPS4 (sau n\u00e0y \u0111\u1ed5i t\u00ean th\u00e0nh DPS3), khi d\u00f9ng 4.57 t\u1ef7 c\u1ed5 phi\u1ebfu \u01b0u \u0111\u00e3i \u0111\u1ec3 x\u00f3a m\u1ed9t kho\u1ea3n n\u1ee3 vay $45,733.7 t\u1ef7 VN\u0110. Ngo\u00e0i ra, c\u00f2n c\u00f3 c\u1ea3 DPS1, m\u1ed9t kho\u1ea3n g\u00f3p v\u1ed1n tr\u1ef1c ti\u1ebfp tr\u1ecb gi\u00e1 6,000 t\u1ef7 VN\u0110 v\u00e0o Th\u00e1ng Ba, 2022. S\u1ef1 t\u1ed3n t\u1ea1i c\u1ee7a h\u00e0ng lo\u1ea1t c\u00e1c lo\u1ea1i DPS n\u1ed9i b\u1ed9 n\u00e0y ch\u00ednh l\u00e0 b\u1eb1ng ch\u1ee9ng r\u00f5 r\u00e0ng nh\u1ea5t cho th\u1ea5y VinFast ph\u1ee5 thu\u1ed9c ho\u00e0n to\u00e0n v\u00e0o c\u00e1c nghi\u1ec7p v\u1ee5 t\u00e1i c\u1ea5u tr\u00fac n\u1ee3 t\u1eeb c\u00f4ng ty m\u1eb9 \u0111\u1ec3 t\u1ed3n t\u1ea1i.<\/p>\n Cu\u1ed9c \u201cph\u1eabu thu\u1eadt\u201d t\u00e1ch Novatech ra kh\u1ecfi VFTP ch\u00ednh l\u00e0 gi\u1ecdt n\u01b0\u1edbc tr\u00e0n ly, bu\u1ed9c to\u00e0n b\u1ed9 c\u1ea5u tr\u00fac n\u1ee3 DPS ph\u1ee9c t\u1ea1p n\u00e0y ph\u1ea3i \u0111\u01b0\u1ee3c \u0111\u1ecbnh h\u00ecnh l\u1ea1i khi VFTP nh\u1ecf l\u1ea1i. \u0110\u1ec3 th\u1ef1c hi\u1ec7n vi\u1ec7c t\u00e1i c\u1ea5u tr\u00fac, c\u1ed5 \u0111\u00f4ng VinGroup, v\u1edbi t\u01b0 c\u00e1ch l\u00e0 ch\u1ee7 n\u1ee3 n\u1ed9i b\u1ed9 v\u00e0 c\u1ed5 \u0111\u00f4ng l\u1edbn, ph\u1ea3i ch\u1ea5p nh\u1eadn ph\u1ea7n thi\u1ec7t h\u1ea1i l\u1edbn nh\u1ea5t. C\u1ee5 th\u1ec3, t\u1ed5ng s\u1ed1 10.73 t\u1ef7 DPS m\u00e0 VinGroup n\u1eafm gi\u1eef t\u1ea1i VFTP \u0111\u00e3 \u0111\u01b0\u1ee3c ph\u00e2n b\u1ed5 l\u1ea1i. Trong \u0111\u00f3, 6.59 t\u1ef7 c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c chuy\u1ec3n sang cho Novatech. Ph\u1ea7n c\u00f2n l\u1ea1i 4.14 t\u1ef7 c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c gi\u1eef t\u1ea1i VFTP (m\u1edbi), nh\u01b0ng quy\u1ec1n l\u1ee3i ho\u00e1n \u0111\u1ed5i b\u1ecb thay \u0111\u1ed5i m\u1ed9t c\u00e1ch \u0111\u00e1ng k\u1ec3 theo h\u01b0\u1edbng b\u1ea5t l\u1ee3i.<\/p>\n Trong khi quy\u1ec1n l\u1ee3i c\u1ee7a c\u00e1c ch\u1ee7 n\u1ee3 qu\u1ed1c t\u1ebf n\u1eafm gi\u1eef 102.6 tri\u1ec7u c\u1ed5 phi\u1ebfu DPS2 \u0111\u01b0\u1ee3c b\u1ea3o v\u1ec7 tuy\u1ec7t \u0111\u1ed1i v\u1edbi t\u1ef7 gi\u00e1 ho\u00e1n \u0111\u1ed5i gi\u1eef nguy\u00ean l\u00e0 1.7 \u0111\u1ed5i 1, th\u00ec VinGroup ph\u1ea3i ch\u1ea5p nh\u1eadn c\u00e1c \u0111i\u1ec1u kho\u1ea3n b\u1ea5t l\u1ee3i h\u01a1n r\u1ea5t nhi\u1ec1u. T\u1ef7 gi\u00e1 ho\u00e1n \u0111\u1ed5i cho c\u00e1c lo\u1ea1i DPS1 v\u00e0 DPS3 b\u1ecb \u0111i\u1ec1u ch\u1ec9nh th\u00e0nh 4.5 \u0111\u1ed5i 1. Th\u1eadm ch\u00ed, v\u1edbi lo\u1ea1i DPS5 d\u00f9ng \u0111\u1ec3 x\u00f3a n\u1ee3, t\u1ef7 gi\u00e1 c\u00f2n l\u00ean t\u1edbi 10.1 \u0111\u1ed5i 1. \u0110i\u1ec1u n\u00e0y c\u00f3 ngh\u0129a l\u00e0, \u0111\u1ec3 \u0111\u1ed5i \u0111\u01b0\u1ee3c c\u00f9ng m\u1ed9t l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu VFS ni\u00eam y\u1ebft, VinGroup gi\u1edd \u0111\u00e2y ph\u1ea3i b\u1ecf ra m\u1ed9t l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu \u01b0u \u0111\u00e3i DPS t\u1ea1i c\u00f4ng ty con nhi\u1ec1u h\u01a1n \u0111\u00e1ng k\u1ec3. \u0110\u00e2y l\u00e0 m\u1ed9t s\u1ef1 \u201chy sinh\u201d quy\u1ec1n l\u1ee3i r\u00f5 r\u00e0ng, cho th\u1ea5y c\u1ed5 \u0111\u00f4ng VinGroup \u0111\u00e3 ph\u1ea3i ch\u1ecbu thi\u1ec7t h\u1ea1i \u0111\u1ec3 b\u1ea3o v\u1ec7 c\u00e1c ch\u1ee7 n\u1ee3 b\u00ean ngo\u00e0i, c\u0169ng nh\u01b0 b\u01a1m ti\u1ec1n cho con n\u1ee3 \u201cnghi\u1ec7n ng\u1eadp\u201d VinFast, m\u00e0 kh\u00f4ng l\u00e0m \u0111\u01b0\u1ee3c g\u00ec.<\/p>\n The post Gi\u1ea3i m\u00e3 c\u00e1c th\u1ee7 thu\u1eadt t\u00e0i ch\u00ednh c\u1ee9u VinFast c\u1ee7a Ph\u1ea1m Nh\u1eadt V\u01b0\u1ee3ng<\/a> appeared first on Saigon Nh\u1ecf<\/a>.<\/p>\n \u00a0<\/p>","protected":false},"excerpt":{"rendered":" K\u1ebf ho\u1ea1ch t\u00e1i c\u1ea5u tr\u00fac \u201ckh\u1eafc xu\u1ea5t \u2013 kh\u1eafc nh\u1eadp\u201d ph\u1ee9c t\u1ea1p li\u00ean quan \u0111\u1ebfn c\u00f4ng ty xe h\u01a1i \u0111i\u1ec7n VinFast, g\u1ea7n \u0111\u00e2y \u0111\u00e3 \u0111\u01b0\u1ee3c th\u00f4ng qua, h\u00e9 l\u1ed9 th\u00eam m\u1ed9t ch\u01b0\u01a1ng trong cu\u1ed1n c\u1ea9m nang c\u00e1c k\u1ef9 thu\u1eadt t\u00e0i ch\u00ednh \u0111\u1ec9nh cao c\u1ee7a t\u1ef7 ph\u00fa Ph\u1ea1m Nh\u1eadt V\u01b0\u1ee3ng. Gi\u1eefa l\u00fac VinFast li\u00ean t\u1ee5c c\u00f4ng …<\/p>","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[239],"tags":[],"class_list":["post-59476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-vietnam"],"_links":{"self":[{"href":"https:\/\/vietvalley.com\/en\/wp-json\/wp\/v2\/posts\/59476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vietvalley.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vietvalley.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vietvalley.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/vietvalley.com\/en\/wp-json\/wp\/v2\/comments?post=59476"}],"version-history":[{"count":0,"href":"https:\/\/vietvalley.com\/en\/wp-json\/wp\/v2\/posts\/59476\/revisions"}],"wp:attachment":[{"href":"https:\/\/vietvalley.com\/en\/wp-json\/wp\/v2\/media?parent=59476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vietvalley.com\/en\/wp-json\/wp\/v2\/categories?post=59476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vietvalley.com\/en\/wp-json\/wp\/v2\/tags?post=59476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}