DMX (Điện Máy Xanh) Calls Extraordinary Shareholder Meeting for New Cash Dividend After 180,000 iPhone 18 Pre-Orders

Overview

Điện Máy Xanh (ticker DMX) has called an extraordinary general meeting of shareholders for October 29, 2026, to approve a new cash dividend drawn from 2026 undistributed profits, according to a board resolution dated September 15. The announcement lands days after the retailer reported more than 180,000 iPhone 18 pre-orders within 24 hours, roughly double last year’s Apple launch cycle. For DMX shareholders, the meeting sets up a second large cash distribution in under three months, after the company paid VND 4,000 per share on August 26.

Key Facts

• DMX recorded over 180,000 iPhone 18 pre-orders in 24 hours, about 2x the prior-year Apple launch, per CEO Đoàn Văn Hiểu Em.
• The board, chaired by Nguyễn Đức Tài, set the extraordinary shareholder meeting for October 29, 2026; record date is October 5, 2026.
• The August 26 cash dividend totaled more than VND 5,000 billion, at a 40% ratio or VND 4,000 per share, funded from accumulated post-tax profit through 2025.
• The new dividend’s ratio and total value have not been disclosed.
• Eight-month 2026 revenue reached VND 87,050 billion, up 29% year on year and 71% of the VND 122,500 billion full-year plan.
• First-half 2026 revenue was VND 65,280 billion (+27%) with post-tax profit of VND 4,876 billion (+73%); net margin was about 7.5%.
• The October meeting will also consider a private placement of bonds with attached warrants; size and terms are undisclosed.

What Happened

In a board resolution dated September 15, DMX approved the convening of an extraordinary general meeting for October 29, 2026, with a shareholder record date of October 5. The primary agenda item is a cash dividend paid from the company’s 2026 undistributed profit pool. The filing does not disclose the payout ratio or total amount. The same meeting is expected to review a plan to issue private bonds with attached warrants, for which scale and terms are also not yet public.

The dividend follows a VND 5,000 billion-plus cash distribution on August 26, paid at a 40% ratio (VND 4,000 per share) from accumulated post-tax profit through 2025. Separately, CEO Đoàn Văn Hiểu Em said the chain logged more than 180,000 iPhone 18 pre-orders in 24 hours, double the previous Apple launch season. DMX has nearly 1.27 billion shares outstanding and began trading on the HoSE on August 6 at a reference price of VND 80,000, implying roughly VND 101,400 billion in market capitalization at listing. Its IPO allocated more than 166 million shares, raising about VND 13,315 billion.

Market Context

DMX closed at VND 75,000 on September 16, 2026, up 3.92% on the session, still below the VND 80,000 listing reference price. The stock trades on the HoSE, having moved from UPCOM at the August 6 listing. The retailer sits in the consumer electronics and grocery retail sector, where Mobile World group entities and Masan’s WinCommerce compete for discretionary electronics and daily-consumer spending. The dividend signal arrives as Vietnam’s year-end shopping season builds, a period that typically lifts electronics volumes and working-capital needs.

Strategic Significance

The core thesis is capital return funded by operating cash flow rather than balance-sheet leverage. First-half net profit of VND 4,876 billion, up 73%, and a 7.5% net margin give DMX room to pay cash while still funding store expansion and the iPhone 18 launch cycle. A second payout within months, if approved, would reinforce the post-IPO commitment to shareholder returns and could narrow the gap between the VND 75,000 market price and the VND 80,000 listing reference. The proposed bond-with-warrants issuance, however, introduces potential dilution and leverage that investors will need to weigh against the cash-return narrative.

What to Watch

• The October 29 extraordinary meeting agenda and the disclosed dividend ratio and total payout.
• Terms of the proposed private bond-with-warrants issuance, including size, coupon and conversion price.
• Third-quarter and nine-month 2026 results, particularly whether revenue tracks toward the VND 122,500 billion full-year plan.
• iPhone 18 delivery conversion, confirming whether the 180,000 pre-orders translate into recognized revenue in Q4.
• October 5 record date and any subsequent foreign-ownership or insider filings around the dividend.