VinFast Auto has restated its Q1 2024 financial statements to correct accounting errors related to vehicle sales revenue recognition and after-sales policy accounting. The restatement impacts the recognition timing of 412 EVs and 2,192 e-scooters sold to GSM JSC and other transactions.The adjustments resulted in a revised Q1 2024 revenue of VND 6.53 trillion, down from the previously reported VND 7.26 trillion. The net loss for the period was restated to VND 14.74 trillion from VND 14.84 trillion. The company also updated its financial statements to reflect VinES subsidiary's 2023 audited results.Key corrections include adjusting bill-and-hold sales recognition timing, reclassifying after-sales policy expenses from selling costs to revenue reduction, and updating various balance sheet items including inventory, receivables, and payables. The restatement also impacts the delivery information previously disclosed in the original filing.

VinFast Auto has restated its Q1 2024 financial statements to correct accounting errors related to vehicle sales revenue recognition and after-sales policy accounting. The restatement impacts the recognition timing of 412 EVs and 2,192 e-scooters sold to GSM JSC and other transactions.The adjustments resulted in a revised Q1 2024 revenue of VND 6.53 trillion, down from the previously reported VND 7.26 trillion. The net loss for the period was restated to VND 14.74 trillion from VND 14.84 trillion. The company also updated its financial statements to reflect VinES subsidiary's 2023 audited results.Key corrections include adjusting bill-and-hold sales recognition timing, reclassifying after-sales policy expenses from selling costs to revenue reduction, and updating various balance sheet items including inventory, receivables, and payables. The restatement also impacts the delivery information previously disclosed in the original filing.