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On April 23, 2026, SJ Group (SJS) held its 2026 annual general meeting (AGM) and approved the business plan aimed at record performance, alongside a plan to increase its charter capital to 5,272 billion dong to support key projects. The meeting, chaired by Chairman Bui Quang Bach, approved all proposals with a high voting rate, with an emphasis on profit growth, product upgrades, and expanding land through M&A.
For 2026, SJ Group set consolidated targets of 2,450 billion dong in revenue, 1,195 billion dong in after-tax profit, and 1,925 billion dong in production value. The company also expects to maintain the 2026 dividend at 10–15%.
Based on audited financial statements by Ernst & Young (unqualified), SJ Group reported consolidated cumulative undistributed after-tax profit of 365.39 billion dong, of which 361.50 billion dong came from 2025. The AGM approved a 10% stock dividend, equivalent to issuing an additional 29.74 million shares, valued at 297.47 billion dong.
To prepare resources for a new growth cycle, shareholders also approved issuing a further 200 million shares to existing shareholders. At a sale price of 10,000 dong per share, SJ Group expects to raise 2,000 billion dong, with all proceeds earmarked for implementing the key Văn La project.
After completing both share issuances, SJ Group’s charter capital is expected to increase from nearly 2,975 billion dong to 5,272 billion dong.
CEO Tran Nhu Trung said 2026 is a “hinge year” as two flagship projects—Vista Nam An Khanh and The Vista Van La—are expected to begin contributing revenue.
In 2025, the company focused on completing landscape infrastructure, planting tens of thousands of trees, and finishing Ecopath roads and the central lake to build a value base. In 2026, low-rise housing is expected to be completed at 100% (including Vista Serena and Vista Garden), the Lavista zone will begin, and legal procedures for tower blocks (CT3, CT4, HH5) will accelerate. The high-rise design and master plan adjustments are handled by SOM (US), which previously supported the urban model of Phu My Hung.
The Vista Van La is identified as the main revenue driver for 2026. The project has completed all procedures and design work; the contractor has signed a pile test contract and is actively constructing. The 12-hectare complex is positioned as a “green oasis,” with international-level design and green building certification, supported by its proximity to the Cat Linh – Ha Dong Metro line.
The AGM materials highlighted that SJ Group’s strategy extends beyond existing projects. For satellite land banks, Thinh Lang (Hoa Binh) has completed 100% land clearance and land handover. Hoa Hai (Da Nang) and Ngoc Vung (Quang Ninh) have received approval for 1/500 detailed planning and are positioned for product development.
In addition, the large-scale Tien Xuan project (over 1,200 ha), after resolving historical legal obstacles, has been clearly defined. SJ Group plans to develop it as a “Smart urban technology city Tien Xuan,” serving as a service hub, lodging area, and startup incubation to support Hoa Lac High-Tech Park. The company has partnered with Perkins Eastman (US), described as a leading design firm specializing in urban complexes linked with technology parks and universities.
Chairman Bui Quang Bach also stated that, to sustain long-term growth, SJ Group will continue evaluating and seeking suitable M&A opportunities to expand its asset base further.
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