Long-serving under-70 chairman in Vietnam's textile industry resigns

CTCP Đầu tư và Thương mại TNG (ticker: TNG) has announced a senior-management change after Nguyen Van Thoi submitted his resignation as Chairman of the Board of Directors. The company said the move is intended to prepare for the next generation of leadership to take over in the new phase, and that Mr. Thoi is expected to transition to the role of Executive Vice Chairman of the Board.

Leadership transition

Mr. Nguyen Van Thoi, born in 1958, has been one of the longest-serving chairs in Vietnam’s textile industry. He served as Deputy Director of Bac Thai Sewing Plant from March 1993, and was appointed Director of the plant in October 1993. In 2003, following the company’s equitization and renaming to Thai Nguyen Export Garment Joint Stock Company, he became Chairman of the Board. In 2007, the company was renamed to Investment and Trading TNG Joint Stock Company and listed on the Hanoi Stock Exchange under ticker TNG.

After 33 years leading the company, TNG said Mr. Thoi’s tenure helped define him as the longest-serving top executive in Vietnam’s textile sector.

Business performance and shareholder update

TNG said it has grown into one of Vietnam’s leading garment exporters, supplying apparel to partners including Decathlon, Columbia, The Children’s Place, Sportmaster, Costco, Nike, and Adidas. The company also exports cotton for raw-material supply used in jacket products for partners into India, Indonesia, and Ethiopia.

On 6 April, Hung Thinh Vinacapital Equity Fund bought an additional 400,000 TNG shares, increasing its stake from 1.29% to nearly 1.6%. After the transaction, the Vinacapital funds group held over 6.74 million shares, equivalent to 5.24% of charter capital, becoming a substantial shareholder.

Financial results

In 2025, TNG reported net revenue of approximately VND 8.699 trillion, up about 13.6% from VND 7.656 trillion in 2024. Gross profit was VND 1,239 billion, with a gross margin of around 14.2%. Net profit reached VND 393 billion, up more than 24.8% from VND 314.8 billion the previous year. The company said this marked the highest revenue and after-tax profit in its history.

Q1/2026 trading and 2026 outlook

TNG’s Q1/2026 revenue reached VND 1,952 billion, up 29% year-on-year and about 20% of the annual plan. The company noted double-digit growth across the early months of the year, with January–February delivering the strongest year-on-year performance in many years. In March, revenue was VND 731 billion, up 23% year-on-year, continuing the positive momentum.

For 2026, TNG targets revenue of VND 9,500 billion and after-tax profit of VND 450 billion, representing increases of 9% and 14% respectively versus the previous year. The company said that if achieved, this would be a record high. TNG also plans to pay dividends in the range of 16–20%.