Get the latest crypto news, updates, and reports by subscribing to our free newsletter.
Giấy phép số 4978/GP-TTĐT do Sở Thông tin và Truyền thông Hà Nội cấp ngày 14 tháng 10 năm 2019 / Giấy phép SĐ, BS GP ICP số 2107/GP-TTĐT do Sở TTTT Hà Nội cấp ngày 13/7/2022.
© 2026 Index.vn
Nam Kim Steel Joint Stock Company (NKG-HOSE) has disclosed an insider-related transaction involving Mr. Ho Minh Phat, the son of Mr. Ho Minh Quang, Chairman of the Board of Directors of NKG. Mr. Phat registered to purchase 5 million NKG shares for personal financial investment purposes. The transaction is expected…
THACO’s consolidated revenue reached about $3.12 billion (nearly VND 81,000 billion), up from $2.9 billion in the prior year. Net profit from core operations stood at about $251 million (over VND 6,500 billion), rising from $152 million in 2024, reflecting improved profitability amid market volatility.
The company’s results show a clear increase in earnings from core operations year-on-year. The improvement comes as THACO’s earnings mix changes, with real estate emerging as a key growth driver.
Real estate was identified as the main growth driver, marking a significant shift in THACO’s earnings mix away from its traditional automotive and mechanical sectors. The transition suggests THACO is steering its business model toward deeper diversification to support growth.
By end-2025, THACO’s net assets were about $2.15 billion, up from $2.01 billion in 2024. Long-term assets were about $4.42 billion, while current assets were about $4.36 billion.
Despite the increase in net assets, THACO’s leverage remained high. Long-term debt was around $2.38 billion and short-term debt around $2.7 billion, indicating continued reliance on debt to support a multi-sector expansion strategy.
Jardine Matheson currently holds about 27% of THACO. By end-2025, the book value of this stake was about $723 million (roughly VND 18,800 billion), reflecting foreign investor confidence in THACO’s long-term prospects.
Jardine Matheson began investing in THACO in 2008 and increased its holding in 2019 at a valuation above $9 billion. By the end of 2023, the group also issued nearly VND 9,000 billion through bonds to reinforce long-term investment.
The move toward real estate as the main growth driver indicates THACO is pursuing a more diversified model. While this may help sustain growth amid competition in traditional sectors, it also raises requirements for governance and risk management going forward in the medium term.
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…
