Thien Long Group (TLG) Targets VND 4,400B Revenue in 2026, Eyes International Expansion

Overview

Thien Long Group (TLG), Vietnam’s leading stationery company, approved its 2026 business plan at its Annual General Meeting (AGM) on April 22, 2025, in Ho Chi Minh City. The plan targets net revenue of VND 4,400 billion (up 5.4% year-on-year) and net profit of VND 440 billion, with a proposed dividend of 35%. The company emphasized a strategic shift toward international expansion and operational optimization, marking the start of a new growth cycle ahead of its 45th anniversary.

Key Facts

• TLG targets 2026 net revenue of VND 4,400 billion, representing 5.4% growth from 2025.
• Net profit target for 2026 is VND 440 billion, with a planned dividend payout of 35%.
• The company aims for export growth of approximately 20% in 2026.
• TLG plans to expand into developed markets including Europe and North America, while strengthening its position in Southeast Asia.
• The company will introduce new product lines with improved materials and expand OEM/ODM activities to deepen global value chain participation.
• TLG is investing in AI for supply chain management, demand forecasting, and quality control.
• The company reported that 2025 results provide a solid foundation for this growth, though specific 2025 figures were not disclosed in the AGM release.

What Happened

At its 2025 Annual General Meeting held on April 22 in Ho Chi Minh City, Thien Long Group’s shareholders approved the 2026 business plan. The plan sets net revenue at VND 4,400 billion, up 5.4% from the previous year, and net profit at VND 440 billion. The company also proposed a 35% dividend for 2026.

Company representatives stated that the profit target reflects a deliberate strategy to invest in sales, marketing, distribution systems, and long-term competitiveness rather than maximizing short-term earnings. They described these as strategic investments to prepare for the next acceleration phase. The year 2026 marks TLG’s 45th anniversary and is positioned as the starting point for a new growth cycle, with the long-term goal of becoming an international stationery group by 2030.

Market Context

TLG is listed on the Ho Chi Minh Stock Exchange (HOSE) and is the dominant player in Vietnam’s stationery market. The company has historically maintained stable revenue growth and high dividend payouts. The 2026 plan comes amid a challenging macroeconomic environment with rising raw material costs and geopolitical uncertainties. TLG’s focus on international expansion and operational efficiency is seen as a defensive yet growth-oriented strategy. The stock has been relatively stable, supported by consistent dividends and a strong market position.

Strategic Significance

TLG’s 2026 plan signals a strategic pivot from a domestic-focused stationery manufacturer to a regional and potentially global player. The emphasis on export growth (targeting 20% increase) and entry into developed markets like Europe and North America represents a significant shift. The company’s investment in AI and supply chain optimization aims to improve margins despite cost pressures. By expanding OEM/ODM capabilities, TLG is positioning itself to capture more value in global supply chains. The decision to prioritize long-term investments over short-term profit growth suggests management confidence in the company’s competitive advantages and market opportunities.

What to Watch

• Quarterly revenue and profit reports in 2026 to track progress against the VND 4,400 billion revenue and VND 440 billion profit targets.
• Export growth data, particularly in new markets (Europe, North America) and Southeast Asia.
• Announcements of new product launches and OEM/ODM contracts.
• Updates on AI implementation and operational efficiency metrics.
• Raw material cost trends and TLG’s pricing strategy to manage margin pressure.