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Viet Phat Group Joint Stock Company (HOSE: VPG) has announced leadership changes following its annual general meeting on April 22, 2026, with the changes taking effect immediately. For 2025, the company reported net revenue of VND 12,478 billion, down 30% year-on-year, and a net loss after tax of VND 597 billion, compared with a profit after tax of VND 109 billion in the same period last year.
In 2025, VPG’s undistributed profits fell to negative by more than VND 194 billion. As of April 14, 2026, the Ho Chi Minh City Stock Exchange (HOSE) placed VPG shares on the warning list. The market price of VPG was around VND 3,700 per share.
For 2026, VPG set a net revenue target of VND 500 billion, a sharp decline from the more than VND 12,000 billion recorded in 2025. The company expects to return to profitability with net profit after tax of VND 5 billion.
Viet Phat Group was established in 2008, initially operating as a domestic freight business with about 20 employees. By 2025, the company had expanded into minerals and real estate and became a partner of major domestic groups including EVN, PVN, and Hoa Phat.
On June 2, 2025, former Viet Phat Group chairman Nguyen Van Binh (born 1973) was prosecuted in connection with a criminal case involving alleged violations of regulations on the management and use of state assets causing loss and waste, bribery, receipt of bribes, and mediation of bribes. The case relates to Viet Trung Mineral and Metallurgy Co., Ltd (VTM) and related units.
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