Vietnam Airlines (HVN VN): Plans to add 30 wide-body aircraft to its fleet
The airline announced its USD10 billion expansion plan, in which 30 wide-body aircraft (Airbus A350-900 or Boeing B787-9) will be either purchased or leased within 2028 – 2032 period. Before that, the Government approved its request to purchase 50 narrow-body aircraft (Airbus A320 Neo or Boeing 737 Max) and 10 aircraft engines, totally worth USD3.7 billion. The total investment plan in the next 10 years is now worth over USD13.7 billion. By 2035, with additions and replacements, the firm expects to have 169 aircraft (increased by 67), in which there will be 52 wide-body aircraft (increased by 21, up +68%), 112 narrow-body aircraft (increased by 47, up +72%), and 5 short-haul airliners ATR-72 (decreased by 1, down -17%). HVN VN closed at VND38,000 per share on 23rd September 2025, thus 13.7x P/E.
OPC Pharmaceutical (OPC VN): A major shareholder wants to divest
PVI Opportunity Investment Fund (POF) – a fund managed by PVI AM, a subsidiary of PVI Holdings (PVI VN), registered to sell all of its nearly 8.6 million OPC VN shares, equivalent to 13.4% of current shares outstanding. Beside POF, OPC also has 3 other major shareholders which are (1) Mr. Trinh Xuan Vuong – Non-executive BOD member, owning 13.8% interest; (2) Vinapharm (DVN VN), owning 13.4% interest; and (3) Pacific Partners, owning 12.9% interest. The pharmaceutical company reported H1 revenue of VND447 billion (about USD17 million, up +2.4% YoY) and net income of VND46 billion (about USD1.7 million, down -14.9% YoY). OPC VN closed at VND22,500 per share on 23rd September 2025, leading to 14.6x P/E and 1.7x P/B.
HDBank (HDB VN): Selling treasury shares
The bank publicly disclose about its trade of treasury stocks, expecting to sell nearly 15.1 million HDB VN shares, effective from October 2nd to October 29th. Proceeds, which is VND433 billion (about USD16.5 million) at VND28,850 per share, will be used to increase its capital buffers. HDB VN closed at VND28,700 per share on 23rd September 2025, resulting 7.0x P/E and 1.6x P/B.
Thanh Cong Textile Garment (TCM VN): August update
The firm announced its August revenue of VND325.3 billion (about USD12.4 million, down -12% YoY) and net income of VND24.1 billion (about USD0.9 million, down -3% YoY). 8M YTD, TCM grossed revenue of VND2,519 billion (about USD95.8 million, up +1% YoY) and net income of VND209 billion (about USD8 million, up +10% YoY), completing 55% and 75% target revenue and profit. TCM VN closed at VND30,250 per share on 23rd September 2025, hence 11.2x P/E and 1.5x P/B.
