NutiFood Group to Buy 1M QNS Shares, Raising Stake to 8.4%

Overview

NutiFood group, comprising NutiFood and NutiFood Binh Duong, has registered to buy an additional 1 million shares of Duong Quang Ngai (QNS), lifting their combined ownership to about 8.4%. The transaction, valued at nearly VND 47 billion, comes as QNS’s soy milk segment posts robust growth, reinforcing the group’s strategic interest in Vietnam’s leading soy milk producer.

Key Facts

• NutiFood registered to buy 650,000 QNS shares, raising its stake from 3.64% to about 3.82%.
• NutiFood Binh Duong registered to buy 350,000 QNS shares, increasing its holding from 4.49% to about 4.58%.
• Combined stake after transactions: approximately 30.9 million shares, or 8.4% of QNS capital.
• Transaction period: September 3 to October 1, 2026, via matching and/or negotiated methods.
• Market value of the registered shares: nearly VND 47 billion at around VND 46,800 per share.
• QNS H1 2026 revenue: VND 6,057 billion (+17% YoY); net profit: VND 958 billion (+2% YoY).
• Soy milk segment H1 2026 revenue: VND 2,740 billion (+20% YoY); gross profit: VND 1,317 billion (+34% YoY); gross margin improved to 48%.

What Happened

According to regulatory filings, NutiFood and NutiFood Binh Duong, both entities related to Tran Thi Le—a board member of Duong Quang Ngai and founder/CEO/Vice Chair of NutiFood—have registered to buy QNS shares. NutiFood will acquire 650,000 shares, while NutiFood Binh Duong will buy 350,000 shares, with the transactions expected to execute from September 3 to October 1, 2026.

The stated purpose is portfolio restructuring. If completed, the two entities will hold nearly 30.9 million QNS shares, equivalent to about 8.4% of the company’s capital. This follows earlier purchases in May 2026, when NutiFood bought 540,000 shares and NutiFood Binh Duong bought 660,000 shares, indicating a continued accumulation strategy.

The buying interest coincides with strong financial performance at QNS. In Q2 2026, net revenue reached VND 3,289 billion (+13% YoY), and net profit was VND 567 billion (+4% YoY). The soy milk segment, under the Vinasoy brand, remains a key growth driver, with H1 revenue up over 20% and gross profit up 34%, while gross margin improved from 43% to 48%.

Market Context

QNS trades on UPCOM, closing at VND 46,700 on August 26, 2026. The stock has likely benefited from the company’s solid earnings and the soy milk segment’s expansion. The NutiFood group’s increasing stake signals confidence in QNS’s prospects, potentially supporting investor sentiment. The broader Vietnamese consumer staples sector has been resilient, with companies like QNS leveraging domestic demand for plant-based beverages.

Strategic Significance

For long-term investors, NutiFood’s continued accumulation underscores the strategic value of QNS’s dominant position in Vietnam’s soy milk market. The Vinasoy brand’s leadership and improving margins highlight the company’s pricing power and operational efficiency. NutiFood’s growing stake may also hint at potential future collaboration or consolidation in the food and beverage sector, though no such plans have been announced. The move aligns with QNS’s strong fundamentals, making it a notable player in Vietnam’s consumer staples landscape.

What to Watch

• Completion of the share purchases by October 1, 2026, and any further accumulation by NutiFood group.
• Q3 2026 earnings report, due in October, to see if soy milk growth momentum continues.
• Any regulatory approvals or disclosures related to the transactions.
• QNS’s dividend policy and capital allocation, given its strong cash flow.
• Market reaction to the stake increase, including any impact on QNS’s share price and liquidity.