VinFast Auto Ltd. ($VFS)

Earnings Call Transcript · May 27, 2026

NasdaqGS US Consumer Discretionary Automobiles Shareholder/Analyst Calls

Highlights from the call

During the 2026 Extraordinary General Meeting, VinFast Auto Ltd. (VFS:US) focused on the approval of a significant transaction involving its Vietnamese manufacturing subsidiary. While specific financial metrics such as revenue and earnings were not disclosed, the company indicated strong shareholder support for the proposed business restructuring. The lack of detailed financial guidance or performance metrics may lead to uncertainty among investors regarding future earnings potential.

Main topics

  • Shareholder Approval for Subsidiary Transaction: Management reported that preliminary results indicate 'the shareholders are in favor of the proposed transaction' regarding the transfer of the company's interest in VinFast Trading and Production JSC. This move is seen as a strategic step to streamline operations in Vietnam.
  • Virtual Meeting Accessibility: The decision to hold the meeting virtually was justified by management as a means to 'improve communication' and 'increase shareholder attendance.' This reflects a commitment to transparency and shareholder engagement.
  • Lack of Financial Metrics: The meeting did not provide any specific financial performance metrics such as revenue or earnings, which could lead to investor uncertainty. Analysts may seek clarity on the company's financial health in future communications.
  • Future Business Strategy: While specific future strategies were not discussed, the approval of the subsidiary transaction suggests a focus on optimizing operations. Management's actions indicate a potential shift in business strategy aimed at enhancing operational efficiency.

Key metrics mentioned

  • Shareholder Approval Rate: 97.54% (Preliminary results indicate strong support for the proposed transaction.)
  • Voting Participation: 2,291,9385 votes (This figure represents the total votes empowered at the meeting, indicating high shareholder engagement.)
  • Revenue:
  • Earnings:
  • Operating Margin:

The approval of the subsidiary transaction is a positive development for VinFast Auto Ltd., signaling a potential strategic shift aimed at enhancing operational efficiency. However, the lack of disclosed financial metrics and guidance raises concerns about transparency and future performance. Investors should monitor upcoming communications for clearer financial insights and any updates on the execution of the new business strategy.

Earnings Call Speaker Segments

Vuong Pham

Executives
#1

Welcome to the 2026 Extraordinary General Meeting of VinFast Auto Limited. It is now 9 a.m. Eastern time and the meeting will come to order. We are holding this meeting virtually because we believe a virtual meeting provides expanded access, improves communication, enables increased shareholder attendance and participation and provide cost savings to our [indiscernible]

Anh Thi Nguyen

Executives
#2

Mr. Chairman, this is Anh, can you hear me?

Vuong Pham

Executives
#3

And I'm the Chairperson of the company [indiscernible] over this meeting. Pursuant to the Regulation 83, subsection 2 of the constitution of the company, the chair has amended for the resolution [indiscernible] this extraordinary general meeting be decided by Hoang. This meeting scheduled to last 1 hour only. I would like to introduce some of the people virtually attending the Extraordinary General Meeting, Mr. Pham, Mr. Lingjiang Ero, Mr. [indiscernible] from our Board of Directors, Ms. Anh and at our Deputy DCO, in charge of Investor, Mr. Amandae Baey, our Vice President of Investor Relations. Mr. Kevin Collins, our Acting General Counsel. We have adopted an agenda for our program this morning that is found on the virtual meeting agenda that you have locked into. In accordance with the agenda, we will proceed as follows: a, first, we will conduct our official business of the 2026 Extraordinary General Meeting. B, and the conclusion of the official business, we will open the meeting to a question-and-answer session. In case we receive any questions with respect to the business of the Extraordinary General Meeting, prior to the start of this meeting. Now I would like to invite Ms. Anh to proceed with the business portion of this meeting.

Anh Thi Nguyen

Executives
#4

Thank you, Mr. Quan Anh. We will now proceed to the business portion of this meeting. We have an affidavit from Continental Stock Transfer & Trust Company. [Technical Difficulty]

Operator

Operator
#5

Okay, she dropped again. All right. Camilo if you're ready, we'll have you do her portion, okay?

Unknown Executive

Executives
#6

Okay. Thank you, Mr. Pham Nhat Quan Anh.We will now proceed to the business portion of this meeting. We have an affidavit from Continental Stock Transfer & Trust Company for mailing agent, certifying that on or about May 12, 2026, each person whose name is entered in the register of members of the company. As of the close of the business on May 1, 2026, has been mailed a notice of this extraordinary general meeting and each person who holds shares of the company in name as or the participants and the depository company as of the course of business on May 1, 2026, has been mailed a notice of this extraordinary general meeting and a proxy card. The notice of extraordinary general meeting contains instructions on how to access the proxy statement have been made available online on the website states therein and by furnishing a Form 6-K to the U.S. Securities and Exchange Commission. Continental Stock Transfer & Trust company has examined the proxies received and reports that [ 2,291,9385 ] votes, or 97.54% of the total vote empower entitled to vote at this meeting is represented by proxies received. A quorum is present, and this meeting may now proceed. The company has appointed Mr. Stephen Jones on behalf of VinFast Auto Ltd. to serve as the inspector of the election for this meeting. He has taken the oath of inspector of elections and will tabulate the results of the voting. In order to facilitate the business of this meeting, the matter to be acted upon by the shareholders today will be presented in the order set forth in the proxy statement. The actual vote will, however, be deferred until the matter has been presented. The first order of business is the proposal to approve the transfer of the company's interest in the VinFast Trading and Production JSC, the Vietnamese manufacturing subsidiary holding the company's manufacturing operations in Vietnam following the split of certain assets, operations and business undertaking as the directors of the company and each of them be and are hereby severally authorized to complete and to do all acts and things, including, without limitation, approving, modifying and executing all such documents as may be required as he or she may consider necessary, desirable or experience for the purposes of or in connection with and to give effect to this ordinary resolution. The specific resolution is set forth in the notice of extraordinary general meeting and is further elaborated upon in the proxy statement. The directors recommend a vote for the ordinary resolution regarding the special business tabled for approval at this meeting. The business portion of this meeting is now adjourned. At this time, we will answer questions, if any, from our shareholders that we have received on the virtual meeting prior to this meeting. We have not received any questions from the shareholders. Since there are no other proposals for business to be transacted at this meeting, we will now proceed to vote on the previously discussed resolutions. It is now 9:14 a.m. Eastern Standard Time, and the polls for voting on the resolution are now open as directed by Mr. Pham Nhat Quan Anh, our Chairman. Any shareholder who hasn't voted may do so by clicking on the voting button on the web portal and following the instructions there. Shareholders who have sent in proxies or voted by Internet do not need to take any further action. I will now pause. [Voting]

Unknown Executive

Executives
#7

Now that everyone has had the opportunity to vote. It is 9:16 a.m. Eastern time. And Mr. Pham Nhat Quan Anh, our Chairman has declared declare the polls for VinFast 2026 extraordinary generally closed. The results I am about to report are considered preliminary and are subject to final tabulation and verification by the Inspector of Election. On resolution 1, preliminary results indicate that the shareholders are in favor of the proposed transaction as elaborated in the proxy statement. The final voting results of this extraordinary general meeting will be disclosed in the current report on Form 6-K filed with the U.S. Securities and Exchange Commission after this extraordinary general meeting.

Vuong Pham

Executives
#8

Thank you all for coming. This concludes our 2026 Extraordinary General Meeting.

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