Market Summary

Superdong - Kien Giang (SKG) reported Q1 revenue up 14% to nearly 126.5 billion VND and after-tax profit up 59% to over 24.9 billion VND, despite rising fuel costs. The company achieved half of its full-year profit target in the first quarter.

GreenFeed Vietnam reported a record net profit of over 3,656 billion VND in fiscal year 2025, equivalent to more than 10 billion VND per day, with ROE surging to 39.63%.

Binh Son Refining and Petrochemical (BSR) reported Q1 2026 net profit of 8,265 billion VND, up 20.7 times year-on-year, driven by high refinery utilization and favorable energy market conditions.

Greenfeed Vietnam reported a net profit of over 3,656.9 billion VND for fiscal year 2025, up 73.6% year-on-year, with equity rising 52.8%.

VTC Telecom reported 2025 consolidated revenue of nearly 523 billion VND, up 221% year-on-year, driven by expansion in equipment trading, telecom services, and IT solutions. Net profit was flat at about 4 billion VND due to low-margin revenue mix and rising costs.

Vingroup reported a 150% profit jump and 24% revenue growth, driven by property and VinFast auto sales, with shares hitting a new peak.

GELEX reported strong Q1 2026 results with consolidated net revenue up 35.4% YoY to VND 10,722 billion and pre-tax profit up 24.9% to VND 806 billion, driven by growth in electrical equipment, construction materials, and infrastructure segments.

The Vietnamese government issued Decree 141 raising the tax-free revenue threshold for individual business households and small enterprises to 1 billion VND per year, effective from January 1, 2026, aiming to support small-scale businesses and encourage formalization.

GELEX Electric (GEE) reported Q1/2026 pre-tax profit of 755 billion VND, up 24.3% YoY, with revenue up 34.4% to 7,097 billion VND. The company also announced a 75% bonus share issuance.

Politburo Resolution 79-NQ/TW, issued on January 6, 2026, aims to develop state-owned enterprises, especially state-owned commercial banks, targeting at least 3 Vietnamese state-owned banks to rank among Asia's top 100 by total assets by 2030.

Prime Minister Le Minh Hung instructed the Ministry of Finance to implement strong measures to develop the stock market as a key medium- and long-term capital mobilization channel, aiming to raise market capitalization to 120% of GDP by 2028. The FTSE Russell upgrade to secondary emerging market status on September 21 is expected to attract 6-8 billion USD in foreign capital.

Gelex reported Q1 net revenue of VND 10,722 billion, up 35.4% YoY, and pre-tax profit of VND 806 billion, completing 22% of its full-year profit target. The electrical equipment segment drove growth, while the company also secured $200 million in international funding and maintained an A credit rating.