KIDO's AIRO Backs Vo Thi Sau Feature Film 'Dat Do' for 2027

Overview

AIRO, the media and entertainment company within KIDO Group’s ecosystem (HoSE: KDC), announced on 16 October an investment partnership for the feature film “Dat Do” (Red Earth), a dramatisation of the life of Vietnamese heroine Vo Thi Sau. The film will be directed by Le Van Kiet, known for “Hai Phuong”, and is slated for a 2027 release. For KIDO, the move marks a further step in converting its consumer-staples platform into a broader media, entertainment and commerce ecosystem.

Key Facts

• AIRO announced the “Dat Do” investment partnership on 16 October, according to the company’s announcement.
• The film is directed by Le Van Kiet, whose credits include “Hai Phuong”, “Bong De” and “Khe Uoc Ban Dau”.
• Production is handled by 1-ALL STARS, with producer Nguyen Cao Tung.
• Shooting is planned for 42 days across Dat Do, Vung Tau, Binh Thuan, Con Dao and Ho Chi Minh City.
• Theatrical release is targeted for 2027, coinciding with the 75th anniversary of Vo Thi Sau’s death.
• AIRO is a joint venture in which KIDO holds 51%, and it targets an IPO by 2030.
• AIRO’s earlier plans include roughly 200 AI-assisted short films per year and participation of about 30-40% of investment capital in selected film projects.

What Happened

AIRO, chaired by KIDO founder and General Director Tran Le Nguyen, said it signed a cooperation agreement to invest in the “Dat Do” project, a dramatic action feature tracing Vo Thi Sau from a 13-year-old girl to her revolutionary activities and her time in Con Dao prison. The production team is led by director Le Van Kiet and producer Nguyen Cao Tung of 1-ALL STARS. The company said the film will be shot over 42 days in Dat Do, Vung Tau, Binh Thuan, Con Dao and Ho Chi Minh City, with a planned 2027 premiere tied to the 75th anniversary of the heroine’s death.

Tran Le Nguyen framed the project as part of a wider partnership strategy rather than a standalone bet. “AIRO chooses the path of deep, broad cooperation with leading domestic and international partners because no single business can do everything alone,” he said, adding that combining technology and content production with an existing consumer ecosystem is intended to help turn Vietnamese culture into an economic growth driver. The announcement follows AIRO’s late-September launch of its media, entertainment and commerce ecosystem, a 6 October joint venture with YeaH1 to form A&M, and planned involvement in projects including “Chi Chi Em Em 3”, “An Mang Karaoke” and Victor Vu’s “Chien Bao”.

Market Context

KIDO trades on the Ho Chi Minh City Stock Exchange under the ticker KDC, closing at 50,600 on 16 October 2026, the date of the AIRO announcement. The company is classified in the Food & Beverage sector, where earnings are driven primarily by consumer staples rather than media. The AIRO initiative places KDC among Vietnamese consumer groups testing entertainment and content as an adjacent growth channel, a theme that has drawn investor attention as domestic film and streaming demand expands. The announcement itself does not disclose a transaction value, so its near-term earnings impact cannot be quantified from the filing.

Strategic Significance

The strategic case rests on whether KIDO can monetise content through its existing consumer distribution and brand platform, rather than on box-office returns alone. AIRO’s stated model spans content ownership, AI-assisted production, distribution and commercialisation, with a 2030 IPO target and KIDO holding 51%. For long-term holders of KDC, the relevant question is capital allocation: entertainment ventures carry different risk and return profiles than food and beverage, and the 30-40% project participation range implies a portfolio approach rather than a single-film wager. Partnerships with Tencent’s WeTV and Mango TV, alongside domestic players such as YeaH1, suggest AIRO is buying distribution reach rather than building it from scratch.

What to Watch

• Confirmation of the “Dat Do” production budget and AIRO’s exact equity or investment share, which the announcement does not disclose.
• Start of principal photography and any revision to the 2027 release window.
• KIDO’s next financial statements for disclosure of AIRO’s contribution to revenue and costs.
• Progress on AIRO’s other announced film and television projects, including the A&M joint venture with YeaH1.
• Any filing or statement on the timeline and structure of AIRO’s targeted 2030 IPO.