Dien May Xanh (DMX) Launches House of Future AI Project, SUNHOUSE Chairman Joins Advisory Board

Overview

Dien May Xanh (ticker DMX, UPCOM) used its extraordinary general meeting on 29 October to unveil House of Future, a new project targeting AI, robotics and smart home categories, with SUNHOUSE chairman Nguyen Xuan Phu named to a senior advisory board. The retailer also reported nine-month revenue growth of about 30% and profit that has already exceeded the full-year plan, with a profit target of roughly VND 10,500 billion, up 83% year on year.

Key Facts

• House of Future is positioned around three product areas: AI, robotics and smart home.
• Nguyen Xuan Phu, chairman of SUNHOUSE Group and widely known as “Shark Phu”, joins the project’s senior advisory board as an advisor on Made-in-Vietnam products.
• The advisory board also includes personnel from AI and robotics, corporate governance and technology, startup investment, innovation and external relations.
• Nine-month revenue rose about 30% and reached 81% of the full-year plan; profit has already surpassed the full-year target.
• DMX is guiding toward profit of approximately VND 10,500 billion, an increase of 83% over the same period.
• Current market share in phones and electronics is about 55%, with a stated target range of 65-70%.
• By 2030, management targets doubling revenue and tripling after-tax profit.
• The store network now covers 34 provinces and cities, with strategy shifting from network expansion to per-store efficiency.

What Happened

At the extraordinary shareholders’ meeting of CTCP Dau tu Dien May Xanh on 29 October, general director Doan Van Hieu Em presented the House of Future project alongside the company’s operating results and five strategic pillars. He framed House of Future as preparation for an entirely new market built around AI, robots and connected homes, and drew a parallel with the earlier build-out of TopZone, the company’s Apple-focused retail format launched in 2021. The meeting disclosed that a senior advisory board has been assembled for the project, spanning AI and robotics, management and technology, startup investment, innovation and external affairs.

The most notable name on that board is Nguyen Xuan Phu, chairman of SUNHOUSE Group, who will advise on Made-in-Vietnam products. SUNHOUSE is one of Vietnam’s larger home-appliance businesses, making his advisory role a link between DMX’s existing kitchen and household goods business and the smart-home categories the new project targets. Hieu Em said the 2026 results are an initial demonstration of commitments to investors following the DMX listing, and described the 2030 targets as challenging but achievable. The disclosures were made at the shareholders’ meeting rather than in a separate regulatory filing.

Market Context

DMX closed at VND 74,700 on 28 October 2026 on UPCOM, the unlisted public company market. The stock trades on the third-tier exchange rather than HOSE, which typically means thinner liquidity and wider bid-ask spreads than the main board. The company operates in the retail sector, where Vietnamese consumer electronics chains have moved from a store-expansion phase into a same-store efficiency phase after the post-COVID recovery of 2024-2025. DMX’s roughly 55% share of phones and electronics places it among the largest players in a market where growth increasingly depends on new categories rather than new locations.

Strategic Significance

The investment case here rests on whether DMX can convert a mature, high-share retail franchise into a platform for higher-margin technology categories before its core store-efficiency gains taper. Management is explicit that the first pillar, network expansion, has diminishing headroom, and that the other four pillars plus House of Future are expected to carry growth later in the decade. The SUNHOUSE advisory role matters because smart home adoption depends on appliance ecosystems and local manufacturing credibility, not just retail shelf space; pairing DMX’s 34-province distribution with an established domestic appliance brand is a lower-capital route into that market than building products in-house. The 2030 goal of doubling revenue and tripling after-tax profit sets a demanding bar against a 55% share base.

What to Watch

• Formal disclosure of House of Future’s investment size, ownership structure and timeline; the meeting did not state these figures.
• Full-year 2026 audited results confirming the VND 10,500 billion profit target and the 30% revenue growth.
• Evidence of the shift from store expansion to per-store efficiency, such as same-store revenue disclosure.
• Progress toward the 65-70% market-share target in phones and electronics.
• Any product, distribution or equity tie-up between DMX and SUNHOUSE following Phu’s advisory appointment.
• Liquidity and foreign-ownership data for DMX on UPCOM, given the exchange’s thinner trading profile.