VHM posted Q4 2021 results with net revenue growing 6% YoY to VND23.4tn (USD1.0bn) and NPAT-MI increasing 8% YoY to VND11.9tn (USD519mn). Per management, the recognition of multiple bulk sales transactions and retail handovers accounted for approximately 40% and 60% of revenue, respectively, and roughly the same amount of NPAT-MI in Q4 2021. In addition, VHM’s Q4 2021 financial income recorded a VND2.7tn (USD117mn) pre-tax gain from sales of a project on Hon Mot Island, Nha Trang (per management), which further supported Q4 2021 earnings.