On June 5, 2026, Thaiholdings (stock code THD) announced changes to its corporate structure and the format of its financial statements. Specifically, the company shifted from a model with no subsidiary and no dependent accounting unit to having a subsidiary, and changed its financial reporting from standalone to standalone and consolidated, effective June 4, 2026. The change was prompted by the subsidiary Thaiholdings owns: Loc Truong Phat Construction and Trade Limited Company (100% owned), which obtained its
business registration certificate from the Ninh Binh Province Department of Enterprise on June 4, 2026. The subsidiary is based at Pullman Ninh Binh, 128 Le Thai To Street, Xuan Thanh Urban Area, Hoa Lu Ward, Ninh Binh Province, Vietnam, with main business in construction project completion. Ms. Do Thi Trang is chair and legal representative of Loc Truong Phat. THD has risen sharply in recent times, hitting a seven-session price limit; as of June 12, 2026, THD traded at 151,100 VND per share, up nearly fourfold year-to-date. Thaiholdings was established in 2011, originally as Thanh Kinh Development Investment JSC, and renamed Thaiholdings in 2016. THD was once associated with Nguyen Duc Thuy, who served as chairman from 2011 to 2020 and sold all 87.4 million THD shares in 2022. For 2026, the group sets a cautious business plan with net revenue target of 967 billion VND, pre-tax profit of 114 billion VND, and net profit of 91 billion VND, all below 2025 levels. In Q1 2026, Thaiholdings reported net revenue of 238.5 billion VND, up 8.8% year-on-year, and net profit of 30 billion VND, up 14.5%. Thus, after the first quarter the company had achieved about 25% of its annual revenue target and around 33% of its annual profit target. Recently, Thaigroup, a company in which Thaiholdings holds a 48% stake and shares the same chairman, disclosed plans to develop a mega-project in Ninh Binh by year-end. The project would cover more than 1,000 hectares with an estimated investment of 128,000 billion VND (about $5 billion), including a development of 15,000–20,000 hotel and resort rooms to meet rising lodging demand in Ninh Binh, which recorded about 19.4 million visitors in 2025. — Ngoc Diep, Nhịp sống thị trường.
