TCM insider sells 4.85M shares amid margin calls, raises VND 80B

Overview

Nguyen Van Nghia, a board member of Thanh Cong Textile Garment Investment Trading JSC (TCM), has completed the sale of 4.85 million TCM shares, reducing his ownership to 5.6% and raising approximately VND 80 billion. The transaction occurred amid forced liquidation of some of his shares by securities companies. TCM’s second-quarter net profit declined 44% year-on-year, yet the stock surged to limit-up on August 25.

Key Facts

• Nguyen Van Nghia sold 4.85 million TCM shares out of 5 million registered, from July 23 to August 21, via matching and negotiated methods.
• His stake fell from 9.72% (over 11 million shares) to 5.6% of charter capital.
• The sale value is estimated at about VND 80 billion based on closing prices.
• 147,700 shares were sold by securities firms as forced liquidation in late July.
• TCM’s Q2 2026 net revenue reached VND 968 billion (+11% YoY), but net profit fell 44% to VND 46 billion.
• H1 2026 net revenue was VND 1,978 billion (+5% YoY), net profit VND 112 billion (-30% YoY).
• TCM’s 2026 plan targets revenue of VND 4,386 billion and net profit of VND 293 billion; H1 completion was 45% of revenue and 38% of profit targets.
• TCM shares hit limit-up on August 25, rising nearly 7% to VND 17,700.

What Happened

Nguyen Van Nghia, a member of the Board of Directors of Thanh Cong Textile Garment Investment Trading JSC (TCM), reported completing the sale of 4.85 million TCM shares, slightly below the 5 million registered, due to 147,700 shares being liquidated by securities firms in late July. The trades were executed from July 23 to August 21 via both matching and negotiated methods. Before the transaction, Nghia held over 11 million shares, equivalent to 9.72% of the company’s charter capital; after the sale, his stake dropped to 5.6%.

Based on TCM’s closing prices during the trading period, the shares sold were valued at approximately VND 80 billion. The sale was disclosed in a regulatory filing. In its Q2 2026 results, TCM reported net revenue of VND 968 billion, up nearly 11% year-on-year, but net profit fell 44% to about VND 46 billion. For the first half of 2026, revenue reached VND 1,978 billion (+5% YoY) and net profit VND 112 billion (-30% YoY).

Market Context

TCM shares on HOSE closed at VND 16,550 on August 24, 2026, but surged to limit-up on August 25, reaching VND 17,700. The insider sale and margin-call liquidation occurred against a backdrop of declining profitability, with Q2 net profit down 44% year-on-year. The textile sector has faced headwinds from weak global demand and rising input costs. Despite the negative earnings trend, the stock’s limit-up suggests short-term speculative interest, possibly driven by the insider sale’s completion or broader market sentiment.

Strategic Significance

For long-term investors, the insider sale by a board member, partly forced by margin calls, signals potential financial stress for the seller but does not directly reflect TCM’s operational health. The company’s fundamentals show revenue growth but margin compression, with net profit falling sharply. TCM’s ability to meet its 2026 profit target of VND 293 billion looks challenging given H1 profit of only VND 112 billion. The sale reduces insider ownership, which may affect governance dynamics. Investors should focus on TCM’s cost management and order book recovery in the second half, as well as any further insider transactions that could indicate confidence levels.

What to Watch

• TCM’s Q3 2026 earnings release, expected in October, to see if profit decline stabilizes.
• Any further insider buying or selling by board members or major shareholders.
• Updates on TCM’s order pipeline and export demand, especially from key markets like the US and EU.
• Movement in TCM’s share price relative to its 52-week range and volume patterns.
• Regulatory filings regarding any additional margin calls or pledged shares by insiders.