Vinfast, a member of Vingroup (VIC VN): Sales volume reached new heights
9M YTD, the sales volume of VF electric cars clocked at 103,884 with 13,914 cars in September. It is also a record high of the Viet Nam’s automotive industry. Recently, Mr. Pham Nhat Vuong – Chairman of Vingroup, fulfilled his capital commitment with over 60 million VIC VN shares to establish VinEnergo – the entity in charge of green energy solutions. VIC VN closed at VND211,900 per share on 14th October 2025, thus 59x P/E and 5.1x P/B.
Hanoi Trade JSC (HTM VN): Plans to buy subsidiary shares from non-controlling shareholders
The Board approved its plans to buy the remaining 46% interest at CNP Hai Duong at VND6.3 billion (about USD240,000). After this transaction, noncontrolling interest on consolidated financials will decrease correspondingly.
In H1 2025, Hapro made revenue of VND235 billion (about USD8.9 million, down -4% YoY) and net loss of VND-5.2 billion (about USD-196,000, slightly bullish compared to H1 2024). Especially, the auditor gave a Qualified Opinion on the reviewed 2025 interim report. HTM VN closed at VND10,400 per share on 14th October 2025, suggesting 1.03x P/B.
Preliminary Q3 results (dated 14th October 2025):
- VPBank (VPB VN): Q3 EBT was VND9.17 trillion (about USD348.5 million, up +77% YoY). 9M YTD, EBT was VND20.4 trillion (about USD775.5 million, up +47% YoY). VPB VN closed at VND32,500 per share, hence 14.8x P/E and 1.7x P/B.
- Haxaco (HAX VN): In Q3, the firm recorded net loss of VND-24 billion (about USD-913,000, considerably bearish compared to Q3 2024). HAX VN closed at VND11,650 per share, hence 13.1x P/E and 0.9x P/B.
- IDICO – IDI (HTI VN): Q3 and 9M EBT were VND35 billion (about USD1.33 million, up +76% YoY) and VND155 billion (about USD5.9 million, up +162% YoY), respectively. HTI VN closed at VND24,500 per share, resulting 4.8x P/E and 1.1x P/B.
Vietnam overtakes China as largest apparel Exporter to the USA
- Vietnam exported almost USD$9.5 billion to the USA in the first seven months of 2025 (up 25.5%, YoY).
- China's exports of apparel reduced to USD$6.9billion in the first seven months of 2025 (down 21%, YoY).
Source: US Office of Textiles and Apparel
