SJ Group (SJS) Stock Hits Ceiling on 150% Q1 2026 Profit Surge

Overview

SJ Group Joint Stock Company (SJS) stock surged to its daily ceiling price on the HOSE exchange following the release of its Q1 2026 financial results, which showed a 122% year-on-year revenue increase and a 150% jump in pre-tax profit. The performance was primarily driven by continued business operations at its Nam An Khánh real estate project, marking a significant earnings beat for the quarter.

Key Facts

• On April 22, 2026, SJS stock hit its ceiling price of VND 58,700 per share in a session with strong buying interest and no sell-side depth.
• Q1 2026 net revenue reached nearly VND 317 billion, a 122% increase compared to the same period last year.
• Gross profit surged 140% YoY to nearly VND 229 billion, as cost of goods sold grew at a slower rate than revenue.
• Pre-tax profit for the quarter was nearly VND 220 billion, 2.5 times higher than the VND 86 billion reported in Q1 2025.
• Total assets as of March 31, 2026, stood at over VND 7,991 billion, an increase of VND 111 billion from the start of the year.
• The company holds a trading securities portfolio with a book value of nearly VND 18 billion, against which it has provisioned over VND 12 billion for estimated losses.
• SJS, formerly known as Sudico, became a fully privatized public company in April 2022 after its parent, Tổng công ty Sông Đà, completed its divestment.

What Happened

SJ Group (SJS) disclosed its Q1 2026 financial results, reporting a substantial earnings beat that triggered a sharp rally in its share price. According to the company’s financial statements and explanatory documents, net revenue for the quarter reached nearly VND 317 billion, representing a 122% year-on-year increase. The company attributed the strong profit growth, with pre-tax profit hitting VND 220 billion (2.5 times the prior-year figure), to the continued business operations of its Nam An Khánh real estate project.

The financial report also detailed the company’s balance sheet position. As of March 31, 2026, total assets exceeded VND 7,991 billion, with equity at VND 3,617 billion and total financial debt (short and long-term) at VND 1,170 billion. The company noted a VND 544 billion balance in undistributed post-tax profit. A notable item was the trading securities portfolio, valued at nearly VND 18 billion, for which the company has set aside a provision of over VND 12 billion, reflecting an estimated loss of about 69% on holdings including shares of CTCP Đầu tư Nhà Đất Việt and CTCP Đầu tư PV2.

Market Context

SJS is listed on the Ho Chi Minh City Stock Exchange (HOSE). The stock’s surge to its VND 58,700 ceiling price on April 22, 2026, represents its highest level since the beginning of the year, occurring in a session characterized by intense buying pressure and an absence of sell orders at that price. This move reflects a strong positive market reaction to the Q1 earnings beat, contrasting with broader sentiment in the Vietnamese real estate sector, which has faced headwinds. The price action suggests investor confidence in the company’s near-term project execution and profitability.

Strategic Significance

The Q1 2026 results underscore the operational execution capability of SJ Group, demonstrating that its core real estate development project, Nam An Khánh, can deliver substantial revenue and profit growth. For long-term investors, this validates the company’s project pipeline and sales strategy in a challenging market. The significant earnings growth, outpacing revenue growth due to improved gross margins, indicates effective cost management and pricing power for its developments, which could support future profitability if sustained.

What to Watch

• Q2 2026 earnings release and management commentary on the sales trajectory for the Nam An Khánh project and other developments.
• Updates on the company’s trading securities portfolio and any further provisions or divestments.
• Announcements regarding new project launches or land bank acquisitions to gauge growth sustainability.
• Monitoring of total debt levels (currently VND 1,170 billion) relative to equity and cash flow from operations.
• Broader Vietnamese real estate sector policy developments and their impact on project approvals and buyer demand.