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Maintaining elevated electronics inventory levels while RAM and memory chip prices continue to rise could be one of the factors supporting MWG’s earnings in the next quarter. In its Q1 2026 financials, MWG reported that inventory value (after provisions) increased by nearly 300 billion VND from the start of the year to 27.6 trillion VND as of March 31, accounting for almost one-third of total assets.
Mobile phones, electronics, laptops and tablets made up more than 18.3 trillion VND of the inventory total. MWG continues to hold a large stock of electronics as memory-chip prices—especially DRAM—are forecast to rise sharply.
TrendForce’s latest report projects traditional DRAM contract prices to increase 58–63% in Q2 2026. NAND Flash memory prices are expected to jump 70–75% versus the prior quarter. The outlook follows volatility in Q1 2026 and indicates no sign of easing.
In the first three months of 2026, DRAM contract prices rose a record 90% year-on-year. While the DRAM rally has slowed somewhat, NAND Flash has risen far beyond the more than 60% increase recorded in the previous quarter. TrendForce attributed the stronger NAND Flash performance to memory-chip suppliers prioritizing production for AI customers.
Keeping high inventory levels as input costs rise could help support MWG’s results in the next quarter, according to the inventory and pricing dynamics highlighted in the company’s Q1 2026 figures and the broader memory market outlook.
MWG reported net revenue of 46,462 billion VND in Q1 2026, up about 29% year-on-year. Net profit reached 2,758 billion VND, up 78% year-on-year.
For 2026, MWG set an ambitious plan with a net revenue target of 185,000 billion VND and consolidated net profit after tax of 9,200 billion VND, representing growth of 18% and 30% respectively versus the prior year. With Q1 results, the company had achieved 25% of the annual revenue target and 30% of the annual profit target.
At the 2026 annual general meeting, CEO Vu Dang Linh said he is confident about MWG’s Q2 performance, citing demand peaks across electronics, refrigeration, and other business lines as evidence of continued growth potential.
On concerns about the feasibility of the targets, Linh said the planning assumes 7.5% GDP growth for 2026. He added that MWG will monitor developments but will not alter its business plan.
Chairman Nguyen Duc Tai noted that the plan was set before the war, adding that the economy does not stand still and MWG will seek additional measures to offset difficulties. He also said there is no culture of asking for favors and that if goals cannot be met, bonuses will not be awarded.
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