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Cuong Phat Real Estate and Trading Investment Co., Ltd. has become a major shareholder of Hanoi Travel and Services Joint Stock Company (UPCoM: TSJ). On 14 April 2026, Cuong Phat acquired 2 million TSJ shares through an off-market transaction, with a total value of about 59.6 billion VND. After the deal, Cuong Phat held more than 4.6 million shares, equivalent to 6.19%, and took a seat as a significant shareholder.
On 14 April, 2 million TSJ shares were transferred via an off-market deal. Prior to this transaction, Cuong Phat already held more than 2.6 million shares. The shareholding increase aligns with a private transaction worth over 86 billion VND on 13 April, suggesting Cuong Phat accumulated about 2.6 million shares in an earlier tranche.
The off-market buying continued. On 15 April, the market recorded another off-market transaction involving 3.3 million TSJ shares, valued at around 76.56 billion VND.
The share-buying activity comes as TSJ reported strong results in 2025. Net profit after tax exceeded 100 billion VND, up 22.6% year-on-year from nearly 82 billion VND in 2024.
According to the provided information, the improvement was driven by higher office leasing revenue, which rose by more than 3 billion VND. At the same time, the cost of revenue for this segment fell by 3 billion VND due to reductions in land lease fees. As a result, gross profit from the service provision segment increased by more than 6 billion VND.
In addition, financial income rose by more than 13 billion VND due to profit-sharing from associate companies.
TSJ also reorganized its leadership in early 2026. On 1 March 2026, the Board of Directors appointed Ms. Tran Thi Yen Ha as Chief Accountant, replacing Ms. Nguyen Thi Bich, who resigned for business reasons. On 16 March, TSJ reappointed Mr. Trinh Minh Tu as Deputy General Director. Mr. Tu has been with TSJ since 2002, holding various positions and serving as Deputy General Director since 2012. The appointment is intended to support management continuity after the current term.
On UPCoM, TSJ shares face liquidity constraints. From the start of the year to date, even the most active trading sessions recorded around 1,600 shares. Many sessions recorded zero turnover.
As of 16 April 2026, TSJ closed at 34,500 VND per share, down about 7% compared with the start of the year.
Historically, Cuong Phat had not been a large shareholder of TSJ before April 2026. Cuong Thinh was established in 2008 in Hanoi, previously led by Ms. Le Thi Thanh Huong as business owner. The company’s main business is real estate trading.
In April 2023, Cuong Thinh’s charter capital was 800 billion VND. Its members were Phu Binh Investment Consulting Co., Ltd. (99.96%) and Mr. Nguyen Viet Hung (0.04%). The company is currently led by Ms. Tran Thi Thanh Huyen as Director and legal representative, and Ms. Huyen also holds a similar position at Phu Binh.
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