BIG Group Q2 2026 Net Profit Up 175%, Plans HoSE Listing in August

Overview

BIG Group (UPCOM: BIG) announced a 175% year-on-year increase in Q2 2026 net profit, reaching VND 6.28 billion, driven by revenue growth across its business ecosystem. The company is preparing to transfer its listing to the Ho Chi Minh Stock Exchange (HoSE) in August 2026, a move that has attracted increased foreign investor interest.

Key Facts

• Q2 2026 net profit: VND 6.28 billion, up 175% YoY.
• H1 2026 net profit: VND 13.24 billion.
• Q2 2026 net revenue: VND 161.31 billion; H1 net revenue: VND 302.72 billion.
• Gross profit margin maintained above 10.3% in H1.
• Dividend payment for 2025 postponed to September 30, 2026, per Resolution No. 19/2026/BIG/NQ-HĐQT dated July 27, 2026.
• Construction of a rental housing and serviced apartment complex near Cần Thơ airport started on July 19, 2026.
• Full-year 2026 profit target: over VND 26–30 billion.
• Stock trades at a trailing P/E of approximately 3.5–4x.

What Happened

BIG Group, officially Công ty Cổ phần Tập đoàn Đầu tư BIG, released its consolidated financial statements for Q2 2026, showing robust growth. Net revenue for the quarter reached VND 161.31 billion, with gross profit of VND 16.59 billion. The parent company contributed VND 109.79 billion in revenue and VND 13.61 billion in gross profit. Subsidiaries also performed well: BIG CT generated VND 34.07 billion in trading revenue, BIG EXPO brought in VND 22.18 billion from import-export activities, and BIG HOTEL contributed VND 3.23 billion with a 37.8% gross margin.

After expenses, pre-tax profit for Q2 was VND 8.03 billion, and net profit was VND 6.28 billion, up 175% from the same period last year. The company also announced a delay in its 2025 cash dividend payment to September 30, 2026, to prioritize capital for key projects, including the Cần Thơ rental housing complex and land fund development in the Mekong Delta. This move aims to strengthen cash flow management and support export order financing for BIG EXPO.

Market Context

BIG shares closed at VND 4,300 on July 30, 2026, on the UPCOM exchange. The stock trades at a trailing P/E of roughly 3.5–4x, which the company notes is lower than many peers. The planned transfer to HoSE in August 2026 is expected to enhance liquidity and visibility, potentially attracting more institutional and foreign investors. Recent data indicates a rising trend in foreign ownership, reflecting growing international interest.

Strategic Significance

The earnings beat and the upcoming HoSE listing signal a strategic inflection point for BIG Group. The company is expanding its asset base, particularly in real estate and consumer services, while maintaining disciplined cash flow management. The postponement of dividend payments underscores a focus on growth investments over short-term shareholder returns. For long-term investors, the HoSE transfer could unlock value through improved market access and a potential re-rating, especially if the company meets its full-year profit target of VND 26–30 billion.

What to Watch

• Successful completion of the HoSE listing in August 2026 and any changes in trading liquidity.
• Q3 2026 earnings release to see if profit growth momentum continues.
• Progress on the Cần Thơ rental housing project and other Mekong Delta land developments.
• Updates on foreign ownership levels and any new institutional investors.
• Dividend payment execution on September 30, 2026, and any further capital allocation decisions.