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Masan High-Tech Materials (MSR) reported Q1 2026 net revenue of nearly VND 2,993 billion, up 115% year over year. Cost of goods sold rose more slowly than revenue, resulting in gross profit increasing 526% to about VND 917 billion, with a gross margin near 31%. In the period, net financial income reached about VND 85 billion, double the level in the same period last year. In contrast, financial costs fell 8% to VND 312 billion. Selling expenses rose by 2 billion to 25 billion, and administrative expenses surged 367% year on year to 70 billion. MSR posted pretax profit of more than 581 billion and net profit after tax of 537 billion, the highest on record. As of 31 March 2026, total assets stood at 28,421 billion, up 7% from the start of the year; cash and cash equivalents and deposits were nearly 2,352 billion, representing about 8% of total assets. Inventory was 3,676 billion; fixed assets were 13,938 billion; and short-term receivables were 2,192 billion. Equity attributable to owners was 12,718 billion; undistributed after-tax profits as of 31 March 2026 were 917 billion. For 2026, Masan High-Tech Materials targets net revenue of 16,000 billion (base case) and up to 20,300 billion (upside). Net profit is expected to reach between 1,700 billion and 2,500 billion under the base/optimistic scenarios. Thus the company had completed about 19% of its revenue target and 32% of after-tax profit target under the base case. Under the positive scenario, it had achieved 15% of revenue and 21% of profit. The article notes that the tungsten price remained elevated during Q1 2026 due to structural supply constraints and ongoing geopolitical developments in key commodity markets; tungsten price rose to around USD 3,150 per metric ton unit by the end of the quarter. The Nui Phao tungsten mine in Thai Nguyen is a major global tungsten resource outside China; shortages of tungsten globally have supported prices.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
