Companies

Tickers: cmg.vn, ctg.vn, dbc.vn, fcn.vn, fpt.vn, hah.nv, hdb.vn, idc.vn, nkg.vn, vci.vn, vjc.vn, nlg.vn

CMG VN: received approval to develop a USD250 mn CMC Hyperscale Data Center at Saigon Hi-Tech Park.

Comments: Rumours have it that Samsung wants to exit from CMG

CTG VN: is seeking buyers for its VietinBank Tower project in Hanoi, accepting purchase registration until July 25th. The project, launched in 2010 with an investment of VND10,267 bn, includes two towers of 48 and 68 floors on a 30,000m2 site.

DBC VN: plans to issue over 50.2 mn new shares as a 15% stock dividend in Q32025, sourced from 2024 retained earnings. If successful, DBC’s share count will rise to nearly 384.9 mn, increasing charter capital to VND3,848 bn.

Comment: Oh please could you Communist donkey kongs stop doing this…

DGC VN: HOSE has updated the VN30 Index for July 2025, effective from August 4th. DGC was added to the index, while BVH was removed.

Comment: It’s been on quite the run thanks to volume growth + the higher ASP

FCN VN: Red One Fund has fully divested its 10.16% stake (16 mn shares) in FCN via negotiated trades between June 30th and July 8th, officially ending its shareholder status in the company.

FPT VN: will issue 222.3 mn bonus shares at a ratio of 15% with the ex-rights date of July 21. After the bonus share issuance, FPT’s charter capital will rise to over VND17,305 bn.

Comment: See DBC

HAH VN: Leadvisors sold 7.87 mn HAH shares, reducing its stake to 4.62% and officially ceased to be a major shareholder of HAH.

HDB VN: plans a two-public bond offering totaling 100 mn bonds worth VND10,000 bn. The second phase will include 50 mn bonds under codes HDBC7Y253202 and HDBC8Y253302.

IDC VN: plans to issue nearly 49.5 mn new shares as a 15% stock dividend for 2024. The expected execution is in Q22025, pending approval from the SSC.

Comment: See DBC

NKG VN: raised the investment for its Phu My steel plant project to VND6,200 bn, up by VND400 bn. This increase will support new production lines for silicon electrical steel used in electric motors, autos, and transformers.

VCI VN: signed an unsecured syndicated loan agreement worth USD41.6 mn, with loan arranged by CTBC Bank, Cathay United Bank, Taipei Fubon Commercial Bank, First Commercial Bank, Offshore Banking Branch, and Union Bank of Taiwan.

Comment: Impressive…margin lending going to finally moon at VCI?

VIC VN: VinSpeed has raised its charter capital to VND15,000 bn, with 28% in cash and 72% in other assets. The capital is fully privately sourced, and the shareholder structure remains undisclosed.

Comment: “Fully Privately sourced” = we borrowed it from a bank, and that bank won’t report it to the authorities.

VJC VN: has been approved to develop and operate Aircaft Maintenance Facilities No. 3 and No. 4 at Long Thanh Airport, with a projected investment of VND1,543 bn over 8.4 hectares in zone E-01.

Comment: I am continually impressed by this company’s ability to the real-life version of the Bee Gees Stayin’ aliveeeeeeeeeeeeeeeeeeeeeeeeeeeeeee

NLG VN: approved a plan for its subsidiary, Dong Nai Waterfront, to take a VND1,000 bn loan.

#’s

• BFC VN: recorded, in Q22025, revenue of VND3,613 bn (+22% YoY) and PBT of VND184.5 bn (-21% YoY). For 6M2025, BFC recorded revenue of VND6,207 bn (+26% YoY) and PBT of VND322 bn (-1% YoY), completing of 83% of the revenue plan and 115% of PBT target.
• CTR VN: recorded, in June, revenue of VND1,109 bn (+6% YoY) and PBT of VND68.9 bn (+23% YoY). For 6M2025, CTR recorded revenue of VND6,015 bn (+6% YoY) and PBT of VND335 bn (+10% YoY), completing 43% of revenue plan and 46% of PBT target.
• FPT VN: recorded, in June, revenue of VND5,627 bn (+4% YoY) and PAT of VND982 bn (+27% YoY). For 1H2025, FPT recorded revenue of VND32,683 bn (+11% YoY) and PAT of VND6,200 bn (+18.5% YoY), completing 43% of revenue plan and 46% of PAT target.
• HPG VN: recorded, in Q22025, revenue of VND36,000 bn and PAT of VND4,300 bn (+30% YoY). For 1H2025, HPG recorded revenue of VND74,000 bn (+5% YoY) and PAT of VND7,600 bn (+23% YoY), completing 44% of revenue plan and 51% of PAT target.
• HSG VN: estimated, in Q3 FY2024–2025, VND9,504 bn in revenue, and VND274 bn in PAT. For the 9M period (Oct 2024 – Jun 2025), HSG estimated revenue of VND28,176 bn and PAT of VND647 bn, completing 74% of revenue plan and 129% of PAT target.
• GEE VN: recorded, in Q22025, revenue of VND6,510 bn (+22.6% YoY) and PBT of VND722 bn (+7% YoY). For 1H2025, GEE recorded revenue of VND11,791 bn (+30.6% YoY) and PBT of VND1,330 bn (+61.8% YoY), completing 53% of revenue plan and 78.9% of PBT target.
• PTB VN: recorded, in Q22025, revenue of VND1,935 bn (+20% YoY) and PAT of VND159 bn (+40% YoY). For 1H2025, PTB recorded revenue of VND3,574 bn (+16% YoY) and PAT of VND304 bn (+23% YoY), completing 54% of revenue plan and 64% of PAT target.
• TDM VN: recorded, in 1H2025, revenue of VND334 bn and PAT of VND196 bn (+220% YoY), completing 63% of the revenue plan and 113% of the PAT target.

Country

1. Việt Nam’s GDP grew by 7.52 % in 1H 2025 compared to the same period last year, the highest H1 growth rate recorded in 14 years, according to the Ministry of Finance’s National Statistics Office (NSO).
2. Việt Nam exported an estimated 953,900 tons of coffee worth USD5.45 bn in 1H2025, increasing by 5.3 % in volume and 67.5 % in value compared to the same period in 2024.
3. Motorcycle sales in Vietnam rose 6.4% in the first half of this year from a year earlier, backed by price cuts and promotions, industry data showed.
4. Authorities in HCMC received more than 26,000 requests for land and housing-related transactions in the first 11 days of July, the city’s Department of Agriculture and Environment said.
5. According to the Việt Nam Association of Seafood Exporters and Producers (VASEP), seafood export turnover in June reached USD876 mn, a modest rise of 4 % year-on-year.
6. The electronics industry continued its strong growth momentum with exports reaching USD60.8 bn as of the end of May this year, a year-over-year increase of 39 %, reinforcing its role as a key driver in the country’s export economy.
7. The trend of draining system liquidity by SBV continued last week (July 7-14, 2025), but the volume has decreased sharply compared to nearly VND 20 tn last week. SBV issued new term purchase contracts worth VND88,257 bn, with a term of 7-91 days at an interest rate of 4%/year, while VND89,724 bn matured. At the same time, the operator issued VND26,400 bn of 7-day term bills (interest rate of 3.4-3.45%/year), compared to VND22,400 bn matured.
8. By the end of June 2025, the total outstanding credit balance of credit institutions in Region 2 (new Ho Chi Minh City and new Dong Nai province) reached over VND 5.3 quadrillion, an increase of 6.31% compared to the end of 2024 and accounting for 30.8% of the total outstanding credit balance of the whole industry.
9. Vietnam’s imports from the U.S. surged in June 2025, reaching USD1.6 bn (+30.7% YoY). For 1H2025, imports totaled USD8.8 bn (+26% YoY). The sharpest growth was seen from April to June, with May and June recording the highest monthly import values in over the year.
10. Vietnam’s GDP growth in Q2 2025 exceeded expectations at 8% YoY, compared to 7% in Q1. While the acceleration was largely driven by manufacturing (+0.5 pps), which benefited from U.S. frontloading, Citi highlights that the growth was also supported by domestically oriented sectors.
11. HCMC is planning to invest around VND172 tn, equivalent to USD7 bn, in developing an international financial center, according to the HCMC Department of Finance.
12. The Government has set an ambitious target for Vietnam to achieve a growth rate of 8.3-8.5% this year, aiming to build strong momentum and lay a solid foundation for reaching double-digit growth between 2026 and 2030.
13. Outstanding credit in HCMC and Dong Nai Province had amounted to over VND5.3 quadrillion as of the end of June, up 6.31% against the end of 2024 and accounting for 30.8% of the country’s total.
14. According to the Ministry of Agriculture and Rural Development, export turnover in June was estimated at USD750 mn, marking a surge of more than 50 % from the previous month. This brought total fruit and vegetable exports in 1H to USD3.05 bn, a promising rebound after a difficult period.
15. Total foreign direct investment poured into Vietnam in 1H 2025 reached more than USD21.51 bn, marking a 32.6 % increase compared to the same period in 2024, according to the Foreign Investment Agency under the Ministry of Finance. The figure includes newly registered, adjusted, and contributed capital.
16. Around 30.8% of businesses expect new export orders to increase in 3Q2025, while 51% anticipate stable demand and 18.2% forecast a decline, despite the upcoming U.S. reciprocal tariff policy on Vietnamese exports.
17. Incoming remittances to HCMC (prior to the provincial merger) totaled USD5.23 bn during 1H, marking a slight year-on-year increase.
18. Vietnam’s real estate business more than doubled on-year in 1H 2025 to over USD5.17 bn thanks to growing confidence, according to the latest figures released by the Foreign Investment Agency under the Ministry of Finance.
19. Vietnam’s State Securities Commission plans to launch a central counterparty (CCP) clearing mechanism for the equity market in Q12027, following approval from the Ministry of Finance.