PAT

MSB saw the largest foreign net sell-off of VND 1,500B on May 22, contributing to a total foreign net outflow of VND 3,285B (~USD 131.4M) across the market. The sell-down pressured VN-Index down nearly 20 points to 1,877, with VIC and HPG also facing significant foreign selling.

DGC's former chairman Dao Huu Huyen has been prosecuted, triggering leadership changes at DGC, Tibaco (TSB), and Phosphorus Apatit Vietnam (PAT). Luu Bach Dat, a 19-year company veteran and current DGC CEO, assumes the chairmanship of TSB and joins PAT's board. The reshuffle consolidates control under the Huyen family, with Dao Huu Kha, Huyen's brother, now DGC chairman.

DGC CEO Luu Bach Dat has been appointed Chairman of Tia Sang Battery (TSB), replacing Dao Huu Huyen who was prosecuted. TSB reported a net loss of VND 1.29B in Q1/2026 and was fined for tax violations. The move signals DGC's consolidation of control over its 51%-owned subsidiary amid legal troubles.

Vietnam Apatite Phosphorus JSC (PAT) reported a 48% year-on-year decline in Q1 2026 pre-tax profit to VND 50.3 billion, with net revenue down 3% to VND 422 billion. The sharp profit contraction was driven by a 14% increase in production costs that halved gross profit, overshadowing reductions in financial and operating expenses. This earnings miss occurs amid ongoing legal investigations at parent company Đức Giang Chemicals (DGC) and a pending extraordinary shareholder meeting to replace board members under indictment.

FPT reported Q1 2026 pre-tax profit of VND 2,804 billion, a 16.3% year-on-year increase, alongside revenue growth of 8.7%. The results, disclosed in a filing on April 23, 2026, highlight sustained momentum in the technology group's core operations. OCB and Hodeco also posted significant profit gains of 37% and 343%, respectively, in a mixed batch of early Q1 earnings releases.