10 questions ahead of FPT Retail AGM: Plans to expand the Long Châu chain, UAV potential, and dividends

On April 17, 2026, FPT Retail, the digital retail arm of FPT Corporation (FPT Retail – ticker FRT), will hold its 2026 Annual General Meeting in Ho Chi Minh City. At the meeting, the company will present its 2026 business plan to shareholders, targeting net revenue of VND 59.5 trillion and pre-tax profit of VND 1.55 trillion—up 16% and 27%, respectively, compared with 2025 results.

FPT Retail said its growth outlook is set against a highly uncertain operating environment. The company cited global geopolitical tensions and potential changes in trade and tariff policies in major markets, which could affect import costs and the supply chain. It also noted that while consumer purchasing power is expected to recover, demand is not evenly distributed across sectors, requiring caution in executing the plan.

2026 targets and shareholder returns

Based on 2025 results, the Board of Directors proposed a stock dividend at a 5% rate. Under the proposal, shareholders holding 20 shares would receive an additional one share. The maximum issuance volume is expected to be about 8.5 million shares, using undistributed profits as of December 31, 2025, according to the audited standalone financial statements.

Key questions to be discussed at the AGM

• Margin improvement: The 2026 plan targets pre-tax profit growth of 27%, higher than revenue growth. Shareholders are expected to ask what key factors will drive margin improvement.
• Contribution from Long Châu: Investors will seek clarity on the share of revenue and profit contributed by the Long Châu pharmacy chain.
• Revenue per pharmacy: Shareholders will ask about Long Châu’s target average revenue per pharmacy and when the company expects to achieve it.
• Store expansion and saturation risk: The AGM agenda includes questions on how many new Long Châu stores are planned for 2026, and how the company assesses the risk of “market saturation” in large cities while expanding into second-tier provinces and markets.
• Vaccination clinics: Investors will ask about the strategy to expand Long Châu’s vaccination clinics and the expected contribution to business results.
• Health ecosystem expansion: Shareholders will also ask whether Long Châu will expand into other health services such as clinics, insurance, and telemedicine to build a more comprehensive health ecosystem.
• ICT segment outlook: Questions will focus on management’s view of growth prospects for the ICT segment and whether a clear upgrade cycle can support a return to growth.
• UAV equipment wholesale and rental: The agenda includes expectations for the wholesale and rental of unmanned aerial vehicle (UAV) equipment.
• Tariffs and supply-chain mitigation: Shareholders will ask how tariffs and global trade policy changes could affect costs, and what strategies FPT Retail has to diversify supply sources and mitigate these risks.
• Cash dividend timing: The company is expected to address when it plans to pay cash dividends.