TTC AgriS raises stake in Toàn Hải Vân after Growfin buys additional shares in the second half of 2025; company posts highest quarterly revenue in two years

TTC AgriS continues to expand its presence in CTCP Toàn Hải Vân after its subsidiary Growfin bought additional shares in the second half of 2025. The move comes as the group continues to scale its asset base and reports quarterly revenue the highest in two years. TTC AgriS (SBT) recently recorded an increased stake in CTCP Toàn Hải Vân, the entity known as the investor of the Vin Đầm complex project in Phú Quốc. According to the consolidated quarterly financial report for Q3 of the 2025-2026 fiscal year (01/07/2025 - 30/06/2026), Growfin Investment JSC — the TTC AgriS-owned subsidiary holding 77.39% of the capital — bought an additional 4.84% stake in Toàn Hải Vân in the second half of 2025. As a result, TTC AgriS's ownership in the firm rose from 26.03% to 30.87%. As of 31/03/2026, the value of TTC AgriS's investment in Toàn Hải Vân increased by about VND 697 billion, reaching VND 2,577.3 billion. The number of shares held also rose from 76.2 million to about 90.33 million. Toàn Hải Vân is a member of the TTC Group ecosystem and is the investor of the Vin Đầm complex project in Phú Quốc. The project is planned as a mixed-use resort model combined with an industrial cluster and a general port. According to disclosed information, the project covers approximately 289.9 hectares with a total investment of about VND 12,664 billion, a 70-year operating life, and a development schedule from 2010 to 2027. To date, partial infrastructure has been completed over an area of about 19,244 m2 and the remaining components are progressing according to plan. In terms of business results, in Q3 of the 2025-2026 fiscal year, TTC AgriS posted revenue of VND 8,231 billion, up 13% year-on-year and the highest in two years. In the revenue mix, the 'road' segment continued to contribute the largest share with about VND 6,435 billion, representing 78% of total revenue. Revenue from electricity rose from VND 79.5 billion to VND 86.9 billion; fertilizer revenue nearly doubled to about VND 82 billion; while other revenue surged 6.3 times to about VND 1,410 billion. Cost of goods sold rose 14% to about VND 7,460 billion, causing gross margin to slip slightly from 10.17% to 9.36%. Nevertheless, gross profit grew about 4% to VND 770.6 billion. Financial income rose 40.1% to VND 372.3 billion helped by a gain of about VND 72.8 billion from the disposal of an investment portfolio. The joint venture, associates also turned positive, moving from a loss of about VND 27 billion in the year-ago quarter to a profit of about VND 93 billion this quarter. As a result, TTC AgriS's after-tax profit for the quarter stood at about VND 245 billion, up 14% year-on-year. For the nine months of the 2025-2026 fiscal year, TTC AgriS recorded revenue of about VND 20,336 billion. Profit before tax was about VND 649 billion, while net profit after tax reached about VND 611.7 billion. As of 31/03/2026, total assets stood at about VND 38,672 billion, up nearly VND 6,000 billion from the start of the period. Of which, borrowings increased by about VND 2,370 billion to VND 19,282 billion. The debt-to-equity ratio thus stood at 1.55x. Xuân Bắc