Chardan Capital maintains Buy rating on VinFast Auto, $5.50 price target

Vietnam saw 30 transactions worth $1.74B in September, with VinFast's $1.2B acquisition of Ngoc Hoi Real Estate being the largest. Logistics, real estate, and consumer sectors were active. Notable deals included Thanh Thanh Cong's $179M share transfer and Elmet Group's $138M stake in Masan High-Tech Materials. KPMG highlighted Vietnam's shift towards higher-value investment and M&A.

VinFast reported Q2 2026 revenue up 85%, but gross margin worsened to -62.8% from -21.8% YoY. Adjusted EBITDA loss widened to $1.1B, and net loss was $1.2B. Liquidity concerns arise as $968M in facilities expire by November 2026. The company is exploring funding options and expects real estate cash flows to support EV business. VinFast aims for EBITDA breakeven in the medium term, with Vietnam leading the way. New models and Vietnam sales drive full-year guidance.

VinFast, a NASDAQ-listed Vietnamese EV maker, reported a $1.24 billion Q2 loss despite a 96% year-over-year increase in EV deliveries and a 311% rise in e-scooter and e-bike deliveries. The loss was partially offset by a $1.47 billion gain from selling a manufacturing subsidiary. International markets contributed only 11% of total deliveries.

VinFast reported a Q2 gross margin of -62.8%, with adjusted EBITDA at -$1.1B. The company restructured its Vietnam manufacturing, reducing borrowings by $2.9B. It launched new models and maintained market leadership in Vietnam. VinFast aims for 2026 EBITDA break-even, with 300K EV deliveries targeted, 75% in Vietnam.

VinFast Auto reported Q2 2026 revenue of $1.203B, up 85.5% YoY, driven by EV sales growth. EV deliveries rose 96% to 70,085, with 11% from international markets. E-scooter and e-bike deliveries surged 311% to 286,039.

VinFast (VFS) reported Q2 2026 revenue of $1.2B, up 85.5% YoY, beating estimates, but losses widened to $0.53 per share. EV deliveries rose 96% to 70,085 vehicles. Gross margin declined to -62.8%, and operating loss increased to $1.16B. The company completed a $1.2B real estate acquisition and maintained full-year guidance despite supply constraints.