VVN Vietnam Industrial Construction Corporation
Tổng Công ty Cổ phần Xây dựng Công nghiệp Việt Nam
Construction & Materials
UPCOM
Total Assets
4,505 bn VND
2021–2025
Revenue
4,014 bn VND
2021–2025
Net Profit
-622 bn VND
2021–2025
Equity
-2,752 bn VND
2021–2025
YOY GROWTH 2025 vs 2024
-4.8%
Assets Growth (%)
-30.7%
Equity Growth (%)
-9.0%
Revenue Growth (%)
-9.0%
Net Revenue Growth (%)
-33.0%
Net Profit Growth (%)
C
55/100
FINANCIAL HEALTH
profitability: 25/25
leverage: 25/25
margin: 0/25
growth: 5/25
ANALYST CONSENSUS
Aggregates use stored analyst metadata from configured sources (e.g. fireant.vn); coverage is not comprehensive for all listed names. Each row includes source and URL.
OPINIONS (730D)
0
WITH TARGET
0
MEAN TARGET
—
MEDIAN TARGET
—
TARGET RANGE
—
REPORTS IN WINDOW
| Date | Firm | Rating | Target | Vs Mean | Source |
|---|---|---|---|---|---|
| No analyst rows stored yet for this ticker. Run ingestion or try again later. | |||||
JSON: /api/analyst/VVN
KEY RATIOS (2025)
22.61
ROE (%)
Net Profit After Tax / Owner's Equity × 100
-13.81
ROA (%)
Net Profit After Tax / Total Assets × 100
1.81
Gross Margin (%)
Gross Profit / Revenue × 100
-15.49
Net Margin (%)
Net Profit After Tax / Revenue × 100
-2.64
Debt/Equity
Total Liabilities / Owner's Equity
-1.64
Equity Multiplier
Total Assets / Owner's Equity
DUPONT ANALYSIS
-15.49
DuPont: Net Margin (%)
0.89
DuPont: Asset Turnover
-1.64
DuPont: Eq. Multiplier
22.61
DuPont: ROE (%)
ROE = Net Margin × Asset Turnover × Equity Multiplier
📊 Analyst Consensus
No analyst coverage data available for VVN in the last 730 days.
Balance Sheet Bảng Cân Đối Kế Toán — 35 items, 13 years · values in tỷ đồng
| Line Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CURRENT ASSETS (Bn. VND) | 2,664.2 | 2,703.2 | 2,397.2 | 2,293.1 | 2,392.9 | 2,681.8 | 2,515.9 | 2,679.5 | 2,854.8 | 3,001.7 | 3,134.8 | 3,254.4 | 3,450.4 |
| Cash and cash equivalents (Bn. VND) | 220.2 | 185.8 | 157.9 | 198.0 | 234.3 | 259.4 | 273.3 | 286.3 | 424.5 | 628.7 | 795.6 | 598.4 | 466.4 |
| Short-term investments (Bn. VND) | 28.1 | 11.1 | 9.6 | 10.4 | 23.5 | 44.5 | 2.8 | 27.5 | 128.2 | 111.2 | 13.3 | 0.84 | 12.0 |
| Accounts receivable (Bn. VND) | 1,426.2 | 1,429.2 | 1,320.8 | 1,164.2 | 1,270.8 | 1,394.2 | 1,327.5 | 1,397.4 | 1,434.2 | 1,361.8 | 1,328.7 | 1,118.7 | 1,424.7 |
| Net Inventories | 971.6 | 1,046.1 | 848.4 | 858.6 | 843.5 | 949.2 | 879.6 | 933.3 | 817.2 | 880.5 | 973.8 | 1,414.9 | 1,428.4 |
| Other current assets | 18.1 | 31.0 | 60.4 | 61.9 | 20.8 | 34.4 | 32.6 | 35.1 | 50.7 | 19.5 | 23.4 | 121.6 | 118.9 |
| LONG-TERM ASSETS (Bn. VND) | 1,841.2 | 2,031.1 | 2,238.4 | 2,540.0 | 2,741.9 | 2,896.2 | 3,139.8 | 3,371.9 | 3,433.5 | 3,550.7 | 3,639.5 | 4,061.6 | 4,282.5 |
| Fixed assets (Bn. VND) | 1,575.5 | 1,761.4 | 1,960.8 | 2,175.5 | 2,385.0 | 2,547.4 | 2,742.1 | 2,951.3 | 2,971.2 | 3,117.7 | 3,306.8 | 3,483.8 | 3,563.2 |
| Investment in properties | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | 0 | 0 | 0 |
| Long-term investments (Bn. VND) | 102.2 | 102.4 | 103.5 | 189.0 | 186.2 | 198.6 | 232.9 | 236.0 | 234.9 | 236.1 | 111.4 | 135.3 | 135.9 |
| Other non-current assets | 142.4 | 148.0 | 151.5 | 138.7 | 133.1 | 114.2 | 118.7 | 143.3 | 137.1 | 145.8 | 183.2 | 421.2 | 582.4 |
| TOTAL ASSETS (Bn. VND) | 4,505.4 | 4,734.3 | 4,635.5 | 4,833.1 | 5,134.8 | 5,578.0 | 5,655.7 | 6,051.4 | 6,288.3 | 6,552.4 | 6,774.3 | 7,316.0 | 7,732.9 |
| LIABILITIES (Bn. VND) | 7,257.0 | 6,838.9 | 6,251.7 | 5,984.7 | 5,940.2 | 6,298.4 | 6,160.6 | 6,444.3 | 6,327.8 | 6,458.5 | 7,122.5 | 7,337.4 | 7,560.7 |
| Current liabilities (Bn. VND) | 3,178.8 | 3,092.0 | 2,626.8 | 2,463.9 | 2,472.0 | 2,708.9 | 2,637.4 | 2,821.8 | 2,749.2 | 2,703.9 | 2,895.7 | 3,114.1 | 3,346.4 |
| Long-term liabilities (Bn. VND) | 4,078.3 | 3,746.8 | 3,624.9 | 3,520.8 | 3,468.2 | 3,589.5 | 3,523.2 | 3,622.5 | 3,578.6 | 3,754.6 | 4,226.8 | 4,223.3 | 4,214.3 |
| OWNER'S EQUITY(Bn.VND) | -2,751.6 | -2,104.6 | -1,616.2 | -1,151.6 | -805.3 | -720.4 | -504.9 | -392.9 | -39.5 | 93.9 | -348.2 | -21.4 | -18.9 |
| Capital and reserves (Bn. VND) | -2,751.6 | -2,104.6 | -1,616.2 | -1,151.6 | -805.3 | -720.4 | -504.9 | -392.9 | -39.5 | 93.9 | -348.2 | -21.4 | -18.9 |
| Other Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.7 | 1.7 | 0 |
| Undistributed earnings (Bn. VND) | -3,598.4 | -2,945.0 | -2,453.8 | -1,986.0 | -1,660.1 | -1,573.4 | -1,354.3 | -1,223.9 | -872.2 | -696.9 | -1,139.5 | -810.9 | -598.8 |
| MINORITY INTERESTS | 225.1 | 221.6 | 220.5 | 219.0 | 241.6 | 245.1 | 242.5 | 225.6 | 238.2 | 222.0 | 224.4 | 207.5 | 0 |
| TOTAL RESOURCES (Bn. VND) | 4,505.4 | 4,734.3 | 4,635.5 | 4,833.1 | 5,134.8 | 5,578.0 | 5,655.7 | 6,051.4 | 6,288.3 | 6,552.4 | 6,774.3 | 7,316.0 | 7,732.9 |
| Prepayments to suppliers (Bn. VND) | 319.3 | 226.8 | 181.9 | 128.5 | 174.3 | 185.2 | 138.7 | 183.7 | 199.2 | 175.0 | 200.0 | 177.4 | 195.4 |
| Short-term loans receivables (Bn. VND) | 0 | 0 | 0 | 0 | 0 | 2.9 | 2.9 | 3.0 | 3.1 | 3.1 | 3.2 | 0 | 0 |
| Inventories, Net (Bn. VND) | 984.5 | 1,058.2 | 860.7 | 870.9 | 843.7 | 949.3 | 880.6 | 934.2 | 820.3 | 883.5 | 977.3 | 1,417.8 | 1,431.3 |
| Other current assets (Bn. VND) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 71.3 | 81.4 |
| Investment and development funds (Bn. VND) | 71.8 | 68.8 | 67.2 | 66.2 | 63.6 | 57.4 | 56.8 | 55.4 | 44.5 | 31.7 | 31.1 | 24.1 | 24.1 |
| Common shares (Bn. VND) | 550.0 | 550.0 | 550.0 | 550.0 | 550.0 | 550.0 | 550.0 | 550.0 | 550.0 | 550.0 | 550.0 | 550.0 | 550.0 |
| Paid-in capital (Bn. VND) | 550.0 | 550.0 | 550.0 | 550.0 | 550.0 | 550.0 | 550.0 | 550.0 | 550.0 | 550.0 | 550.0 | 550.0 | 550.0 |
| Long-term borrowings (Bn. VND) | 3,916.8 | 3,598.9 | 3,482.1 | 3,410.6 | 3,373.9 | 3,475.7 | 3,437.3 | 3,563.1 | 3,489.0 | 3,584.7 | 4,086.7 | 4,055.4 | 4,088.0 |
| Advances from customers (Bn. VND) | 478.4 | 327.3 | 266.0 | 220.2 | 190.4 | 286.7 | 223.8 | 384.4 | 299.7 | 282.7 | 421.2 | 622.4 | 642.9 |
| Short-term borrowings (Bn. VND) | 835.3 | 881.6 | 670.4 | 725.3 | 632.7 | 635.6 | 657.7 | 626.9 | 504.7 | 512.3 | 400.2 | 403.6 | 541.7 |
| Long-term prepayments (Bn. VND) | 142.3 | 147.6 | 151.5 | 138.4 | 133.1 | 112.3 | 118.4 | 143.3 | 137.0 | 145.7 | 183.1 | 411.6 | 575.1 |
| Other long-term assets (Bn. VND) | 40.0 | 40.0 | 40.0 | 40.0 | 40.0 | 40.0 | 45.0 | 45.0 | 43.1 | 44.6 | 35.8 | 36.8 | 38.5 |
| Other long-term receivables (Bn. VND) | 9.7 | 10.0 | 9.4 | 10.3 | 7.5 | 4.9 | 5.2 | 6.9 | 9.5 | 10.1 | 5.4 | 0 | 0.95 |
| Long-term trade receivables (Bn. VND) | 9.7 | 10.0 | 9.4 | 10.3 | 7.5 | 4.9 | 5.2 | 6.9 | 9.5 | 10.1 | 5.4 | 0 | 0.95 |
Income Statement Báo Cáo Kết Quả Kinh Doanh — 26 items, 13 years · values in tỷ đồng
| Line Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY (%) | -0 | 0 | 0 | -0 | -0 | 0 | 0 | -0 | -0 | -0 | 0 | 0 | 0 |
| Revenue (Bn. VND) | 4,014.5 | 4,412.9 | 2,875.7 | 2,653.0 | 4,291.1 | 4,612.3 | 4,369.8 | 3,397.8 | 4,284.9 | 5,134.7 | 6,114.9 | 6,063.1 | 4,910.3 |
| Attribute to parent company (Bn. VND) | -641.6 | -485.0 | -460.4 | -313.3 | -69.2 | -208.6 | -145.8 | -331.2 | -92.7 | 465.2 | -383.1 | -174.6 | -227.4 |
| Attribute to parent company YoY (%) | -0 | -0 | -0 | -0 | 0 | -0 | 0 | -0 | -0 | 0 | -0 | 0 | 0 |
| Financial Income | 2.9 | 2.2 | 3.2 | 49.8 | 119.5 | 5.7 | 36.0 | 9.8 | 23.9 | 637.3 | 148.7 | 182.6 | 23.4 |
| Interest Expenses | -224.5 | -206.3 | -196.0 | -174.0 | -164.8 | -162.7 | -154.9 | -171.8 | -150.8 | -159.6 | -286.9 | -254.0 | -299.1 |
| Sales | 4,014.5 | 4,412.9 | 2,875.7 | 2,653.0 | 4,291.1 | 4,612.3 | 4,369.8 | 3,397.8 | 4,284.9 | 5,134.7 | 6,114.9 | 6,063.1 | 4,910.3 |
| Sales deductions | -9.0 | -12.3 | -16.2 | -14.8 | -27.8 | -42.1 | -21.7 | -3.6 | -9.7 | -19.1 | -27.9 | -19.0 | -26.6 |
| Net Sales | 4,005.5 | 4,400.6 | 2,859.5 | 2,638.2 | 4,263.3 | 4,570.1 | 4,348.1 | 3,394.2 | 4,275.1 | 5,115.6 | 6,087.1 | 6,044.1 | 4,883.6 |
| Cost of Sales | -3,932.6 | -4,404.4 | -2,804.1 | -2,571.7 | -4,026.6 | -4,222.3 | -4,080.8 | -3,238.8 | -3,975.0 | -4,760.8 | -5,635.7 | -5,621.8 | -4,502.1 |
| Gross Profit | 72.8 | -3.8 | 55.4 | 66.6 | 236.7 | 347.8 | 267.3 | 155.4 | 300.1 | 354.8 | 451.4 | 422.2 | 381.5 |
| Financial Expenses | -459.3 | -238.3 | -301.4 | -224.3 | -167.0 | -264.8 | -159.3 | -330.2 | -169.6 | -215.2 | -604.5 | -424.6 | -331.0 |
| Gain/(loss) from joint ventures | 2.7 | 1.8 | 1.2 | -0.93 | -0.77 | 2.3 | 5.9 | 4.7 | 6.8 | 7.5 | 5.7 | 5.8 | 0 |
| Selling Expenses | -27.4 | -22.7 | -23.3 | -15.9 | -28.3 | -40.8 | -36.7 | -28.0 | -38.1 | -46.3 | -46.4 | -37.3 | -34.2 |
| General & Admin Expenses | -223.3 | -213.3 | -195.3 | -173.7 | -187.2 | -200.7 | -226.4 | -210.3 | -232.5 | -287.3 | -299.2 | -324.5 | -281.8 |
| Operating Profit/Loss | -631.6 | -474.0 | -460.3 | -298.4 | -27.0 | -150.5 | -113.2 | -398.5 | -109.3 | 450.7 | -344.3 | -175.9 | -242.1 |
| Other income | 38.2 | 33.0 | 35.5 | 29.4 | 23.3 | 39.1 | 67.7 | 112.4 | 97.7 | 106.1 | 41.4 | 77.8 | 46.8 |
| Net income from associated companies | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.0 |
| Other Income/Expenses | -17.5 | -16.4 | -9.3 | -15.1 | -16.9 | -42.3 | -55.8 | -15.6 | -15.5 | -18.6 | -13.3 | -27.5 | -11.3 |
| Net other income/expenses | 20.6 | 16.7 | 26.3 | 14.3 | 6.4 | -3.2 | 11.8 | 96.8 | 82.2 | 87.6 | 28.1 | 50.4 | 35.5 |
| Profit before tax | -610.9 | -457.3 | -434.0 | -284.1 | -20.6 | -153.7 | -101.4 | -301.6 | -27.1 | 538.3 | -316.2 | -125.5 | -201.6 |
| Business income tax - current | -10.9 | -10.4 | -8.3 | -9.8 | -15.9 | -21.7 | -16.2 | -17.1 | -27.0 | -31.8 | -29.5 | -20.3 | -14.2 |
| Business income tax - deferred | -0.22 | 7,227 | -0.38 | -0.73 | -2.3 | 1.2 | -0.61 | -0.02 | -0.04 | 0.35 | -0.60 | -2.2 | 0.01 |
| Net Profit For the Year | -622.0 | -467.7 | -442.8 | -294.7 | -38.7 | -174.2 | -118.2 | -318.7 | -54.1 | 506.9 | -346.3 | -148.1 | -215.8 |
| Minority Interest | 19.6 | 17.4 | 17.7 | 18.6 | 30.5 | 34.4 | 27.7 | 12.5 | 38.5 | 41.6 | 36.8 | 26.5 | 11.6 |
| Attributable to parent company | -641.6 | -485.0 | -460.4 | -313.3 | -69.2 | -208.6 | -145.8 | -331.2 | -92.7 | 465.2 | -383.1 | -174.6 | -227.4 |
Cash Flow Statement Báo Cáo Lưu Chuyển Tiền Tệ — 33 items, 13 years · values in tỷ đồng
| Line Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Profit/Loss before tax | -610.9 | -457.3 | -434.0 | -284.1 | -20.6 | -153.7 | -101.4 | -301.6 | -27.1 | 538.3 | -316.2 | 0 | 0 |
| Depreciation and Amortisation | 220.3 | 222.0 | 223.4 | 234.8 | 236.5 | 236.5 | 239.3 | 155.5 | 143.0 | 222.2 | 224.7 | 0 | 0 |
| Provision for credit losses | 14.5 | 18.2 | 22.1 | 20.9 | -2.8 | 13.2 | -18.6 | -48.1 | -8.1 | 24.7 | 18.9 | 0 | 0 |
| Unrealized foreign exchange gain/loss | 232.9 | 30.6 | 99.6 | -46.5 | -112.9 | 100.2 | -9.7 | 153.9 | 0 | -38.4 | -263.9 | 0 | 0 |
| Profit/Loss from investing activities | -4.4 | -2.6 | -46.5 | -11.8 | -3.2 | -10.1 | -26.8 | -10.5 | -23.9 | -53.6 | -125.0 | 0 | 0 |
| Interest Expense | 224.5 | 206.3 | 195.9 | 174.0 | 181.7 | 162.7 | 154.9 | 171.8 | 150.8 | -349.4 | 286.9 | 0 | 0 |
| Operating profit before changes in working capital | 77.0 | 17.2 | 60.3 | 82.5 | 278.6 | 348.9 | 237.8 | 121.1 | 234.8 | 343.9 | -174.5 | 0 | 0 |
| Increase/Decrease in receivables | 10.4 | -127.2 | -199.6 | 109.1 | 107.9 | -82.5 | 79.2 | 43.2 | -60.1 | -49.4 | -112.3 | 0 | 0 |
| Increase/Decrease in inventories | 73.7 | -197.6 | 10.2 | -15.1 | 105.7 | -67.6 | 66.8 | -114.0 | 56.7 | -0.90 | 411.1 | 0 | 0 |
| Increase/Decrease in payables | -276.9 | 266.0 | 194.4 | -131.5 | -249.5 | 121.8 | -241.5 | -157.3 | -46.5 | -105.2 | 123.1 | 0 | 0 |
| Increase/Decrease in prepaid expenses | 4.8 | 48.1 | -15.4 | -47.7 | 0.58 | 9.7 | 21.0 | 11.6 | -29.4 | -29.6 | 226.7 | 0 | 0 |
| Interest paid | -41.9 | -57.4 | -58.8 | -62.4 | -66.8 | -98.5 | -48.2 | -171.8 | -150.8 | -97.8 | -32.1 | 0 | 0 |
| Business Income Tax paid | -10.3 | -7.9 | -7.7 | -16.9 | -20.9 | -17.6 | -17.2 | -22.7 | -27.6 | -33.0 | -27.6 | 0 | 0 |
| Other receipts from operating activities | 0.05 | 0.53 | 2.7 | 5.8 | 2.2 | 0.61 | 3.3 | 0 | 1.4 | 1.2 | 1.4 | 0 | 0 |
| Other payments on operating activities | -11.4 | -13.0 | -12.1 | -19.9 | -15.6 | -17.7 | -14.0 | -5.4 | 0 | -26.6 | -34.3 | 0 | 0 |
| Net cash inflows/outflows from operating activities | -174.5 | -71.2 | -26.1 | -96.0 | 142.2 | 197.0 | 91.5 | -295.3 | -21.6 | 2.7 | 381.4 | 300.2 | -58.2 |
| Purchase of fixed assets | -37.5 | -23.0 | -12.6 | -17.4 | -66.9 | -35.0 | -27.4 | -139.4 | -28.7 | -64.8 | -48.3 | -48.3 | -14.0 |
| Proceeds from disposal of fixed assets | 2.7 | 2.3 | 5.6 | 8.0 | 3.2 | 8.2 | 3.4 | 4.8 | 8.5 | 2.2 | 16.3 | 1.6 | 2.9 |
| Loans granted, purchases of debt instruments (Bn. VND) | -18.4 | -1.8 | -1.5 | -12.2 | -39.4 | -63.0 | -9.9 | 0 | 0 | -160.3 | -55.2 | -20.1 | -3.4 |
| Collection of loans, proceeds from sales of debts instruments (Bn. VND) | 1.4 | 0.30 | 2.3 | 34.5 | 60.4 | 21.4 | 32.2 | 104.4 | 0 | 62.3 | 44.1 | 22.0 | 4.8 |
| Investment in other entities | 0 | 0 | 0 | 0 | 0 | 0 | -0.60 | -1.9 | 0 | -107.9 | 0 | 0 | 0 |
| Proceeds from divestment in other entities | 0 | 0 | 3.3 | 0 | 0 | 0 | 0 | 0 | 0 | 0.08 | 36.4 | 19.2 | 0 |
| Gain on Dividend | 3.3 | 3.7 | 3.8 | 21.9 | 24.8 | 8.8 | 9.3 | 9.2 | -23.9 | 66.3 | 17.9 | 25.3 | 38.5 |
| Net Cash Flows from Investing Activities | -48.6 | -18.6 | 0.88 | 34.8 | -17.8 | -59.6 | 7.1 | -22.9 | -44.1 | -202.1 | 11.3 | -0.41 | 28.8 |
| Proceeds from borrowings | 1,979.3 | 2,012.5 | 1,834.1 | 1,502.3 | 1,668.0 | 1,605.6 | 1,824.9 | 2,036.1 | 1,724.2 | 1,702.8 | 1,698.1 | 2,037.1 | 2,281.1 |
| Repayment of borrowings | -1,707.9 | -1,864.4 | -1,817.4 | -1,436.4 | -1,776.6 | -1,730.5 | -1,919.0 | -1,839.9 | -1,835.3 | -1,637.0 | -1,886.5 | -2,198.0 | -2,059.4 |
| Finance lease principal payments | -2.3 | -2.3 | -0.21 | -1.6 | -0.27 | -1.1 | 0 | 0 | 0 | -0.17 | -0.90 | -1.1 | -1.0 |
| Dividends paid | -11.8 | -28.2 | -31.4 | -39.3 | -40.5 | -25.2 | -17.6 | -16.3 | -27.5 | -33.1 | -6.2 | -6.0 | -27.4 |
| Cash flows from financial activities | 257.4 | 117.7 | -14.9 | 24.9 | -149.4 | -151.3 | -111.7 | 179.9 | -138.6 | 32.5 | -195.5 | -168.0 | 193.3 |
| Net increase/decrease in cash and cash equivalents | 34.4 | 27.9 | -40.1 | -36.3 | -25.1 | -13.9 | -13.1 | -138.3 | -204.2 | -166.8 | 197.1 | 131.8 | 163.8 |
| Cash and cash equivalents | 185.8 | 157.9 | 198.0 | 234.3 | 259.4 | 273.3 | 286.3 | 424.5 | 628.7 | 795.6 | 598.4 | 466.4 | 302.5 |
| Foreign exchange differences Adjustment | 5,742 | 5,428 | 4,504 | 1,294 | -1,162 | -175 | 0.11 | 0.06 | 0 | 585 | 0.08 | 0.17 | 0.03 |
| Cash and Cash Equivalents at the end of period | 220.2 | 185.8 | 157.9 | 198.0 | 234.3 | 259.4 | 273.3 | 286.3 | 424.5 | 628.7 | 795.6 | 598.4 | 466.4 |