VNG's financial report showed a loss of VND291 billion in the fourth quarter of 2023. This was the third quarter in a row that the company reported a loss. For the year, VNG took a total loss of VND756 billion. Last year was the third consecutive yearly loss. This included a loss of VND510 billion incurred by Tiki Global, which takes orders for products from overseas.

Despite losses, VNG saw a 10 percent increase in turnover. The company's core business is online games, which make up about 75% of its total revenue. 

VNG is a Vietnamese technology unicorn, with capitalization value reaching several billions of dollars at times. It also operates Zalo, the best known social network in Vietnam, and the mobile payment platform ZaloPay. By the end of 2023, VNG had increased its ownership ratio in Zion (the owner of ZaloPay) to 72.65 percent. 

The company has completed a project on building a VNG Data Center.

VNG had planned to mobilize $150 million in 2023 through the IPO (initial public offering) in the US. It planned to issue IPO A-class common shares on the Nasdaq Global Select Market under the ticker symbol VNG. However, it later withdrew the IPO.

Earlier, VinFast, the auto manufacturer of Vingroup, owned by dollar billionaire Pham Nhat Vuong, had to cancel its IPO plan, and shifted to listing shares on Nasdaq via a SPAC, a merger with a special purpose acquisition company.

Analysts say that VNG's decision to cancel its IPO plans was likely due to the current state of the global stock market. Cash flow, however, has headed toward AI technology development.

Manh Ha