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Vinpearl Joint Stock Company (VPL) held its 2026 annual general meeting of shareholders in Hanoi on the morning of April 24. The meeting reviewed the company’s 2025 performance, discussed shareholder approvals for dividend policy and capital raising, and presented business targets and strategic priorities for 2026.
In 2025, Vinpearl reported consolidated net revenue of VND 15,539 billion, up more than 8% year-on-year. Net profit reached over VND 1,100 billion, down by more than half compared with 2024, mainly attributed to lower income from financial activities.
At the meeting, Vinpearl also sought shareholder permission not to pay a dividend for 2025.
For 2026, a VinGroup subsidiary set a revenue target of VND 16,000 billion, up 3% from the previous year. If achieved, this would represent a record high for the company.
Net profit is expected to reach VND 3,000 billion, which would double the pre-adjustment figure of VND 1,500 billion and be up 172% from 2025.
An important agenda item was the plan to issue private-placement preferred shares. Vinpearl plans to offer up to 100 million preferred dividend shares, with conversion rights into ordinary shares.
The offering price is VND 80,000 per share, implying total proceeds of up to VND 8,000 billion. After the offering, charter capital is expected to increase to up to VND 18,933 billion.
The preferred shares would carry an annual cumulative dividend of 6%, calculated on the offering price. The offering is expected to take place in 2026 after formal approval from the State Securities Commission (UBCKNN).
Vinpearl proposed appointing a new member to the Board of Directors (HĐQT) for the 2024–2029 term, replacing Ms. Le Thúy Anh, who resigned. The candidate is Ms. Ngo Thị Hương, currently Vinpearl’s CEO.
Ms. Ngo Thị Hương, born in 1982, has been with VinGroup since 2017 and has held various roles within the group.
On the business outlook for 2026, Vinpearl emphasized improving operating efficiency through creative marketing, including the “Green Creator” campaign, expected to spread the brand image domestically and internationally.
The company plans to diversify its guest base and strengthen core markets such as domestic visitors, Korea, and Russia, while expanding into long-haul markets with higher spending, including Australia, the United States, and Europe, to optimize performance.
Vinpearl aims to upgrade the customer journey by shifting from selling standalone products to bundled “all-in-one” experiences, standardizing service quality across the system, and developing a mega entertainment “all-in-one” model to increase guest value.
Beyond core services such as tourism, lodging, and entertainment, the company plans to continue expanding VinPalace events and culinary spaces to complete its ecosystem and enrich guest experiences at destinations.
Management discussed expectations for the 2026 tourism market. The company expects recovery and growth, with international arrivals around 25 million and domestic visitors around 150 million in 2026. By 2030, the government aims for 45–50 million international arrivals and up to 160 million domestic visitors, which management said signals opportunities for Vinpearl.
The CEO also highlighted risks related to geopolitics and oil prices, and described strategies to respond, including diversifying markets (such as India and the Middle East), expanding product offerings, and leveraging technology and dynamic pricing to optimize value.
Four pillars for international expansion were outlined: diversify markets, create globally attractive destinations, adopt international standards, and strengthen partnerships with global operators. The company also emphasized ongoing digital transformation and extending guest stays from 2 days to 5–6 days.
Vinpearl noted that in 2025, entertainment and other segments grew 34%, with profits up 68%, reflecting positive momentum alongside the broader business strategy.
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