An aerial view of the Núi Pháo polymetallic mine in Thái Nguyên Province, where Masan High-Tech Materials supplies about 21 per cent of global tungsten demand outside China. — Photos courtesy of Masan

HÀ NỘI — Masan High-Tech Materials Corporation (UpCOM: MSR) successfully held its 2026 Annual General Meeting of Shareholders (AGM) on April 16, under the theme “The Hidden Critical Mineral for the AI World”.

As artificial intelligence (AI) enters a period of exponential growth, the company reaffirmed its pivotal role in the global supply chain, providing high-tech materials essential to the semiconductor and digital revolutions.

Financial surge driven by 'supercycle'

The rapid advancement of AI and semiconductors has ushered in a new "supercycle" for strategic metals.

Leveraging its abundant reserves and advanced downstream processing capabilities, MSR has capitalised on rising global demand to deliver robust financial results.

In 2025, the company reported revenue of VNĐ7.44 trillion (US$278 million), a 19 per cent increase on a like-for-like basis.

The momentum accelerated sharply in the first quarter of 2026.

Prices for Ammonium Paratungstate (APT) - a critical intermediate tungsten product - surged past $3,100/mtu, a massive jump from the $315/mtu levels seen in early 2025.

Driven by this price rally, MSR’s preliminary Q1 2026 net revenue reached nearly VNĐ3 trillion ($112 million).

Notably, net profit after tax for the first quarter hit VNĐ537 billion ($20 million), already surpassing the company’s total profit for the entire 2025 fiscal year.

Tungsten is increasingly recognised as the "lifeblood" of the semiconductor industry.

Due to its extreme hardness and heat resistance, it is indispensable for semiconductor fabrication, high-power electronics and the high-performance computing systems powering global data centres.

With global investment in AI infrastructure projected to reach between $5 trillion and $8 trillion by 2030, the demand for critical minerals is hitting unprecedented levels.

MSR currently accounts for approximately 21 per cent of the global tungsten supply outside of China, making it a vital partner for international markets seeking to diversify strategic mineral sources.

Michael Glover, chief executive officer of Masan High-Tech Materials, said the company was achieving its goals through strategic investments, a focus on enhancing the value of its core product portfolio and disciplined cost optimisation.

“We are transforming our strategic material advantages into sustainable financial growth and long-term stakeholder value,” he said.

With improving profitability, MSR plans to utilise its robust operating cash flow to fund growth and deleverage its balance sheet.

Assuming APT prices remain above an average of $1,500/mtu, the company targets a net cash position by 2027-28, paving the way for potential dividend payments to shareholders.

Furthermore, the company is progressing with plans to transfer its listing to the Hochiminh Stock Exchange (HOSE).

This move is expected to enhance transparency, improve share liquidity and attract a broader base of international institutional investors.

Engineers at work in Masan High-Tech Materials' mineral processing plant in Thái Nguyên Province.

Sustainability, community impact

MSR continues to integrate Environmental, Social and Governance (ESG) standards into its core operations.

In the past year, the company recycled 8.3 million cubic metres of wastewater - roughly 79.5 per cent of its total water usage.

The company also remains a cornerstone of the local economy in Thái Nguyên Province, contributing VNĐ1.03 trillion to the State budget and supporting over 5,200 households, including many from ethnic minority groups.

Phan Chiến Thắng, deputy CEO of Masan High-Tech Materials, said the company is at a ‘golden moment’ for breakthrough growth.

“The combination of valuable resource assets, world-class downstream processing capabilities, rising strategic stockpiling for national defense and surging AI-driven demand for materials is creating strong momentum for our next phase of development.”

As the global race for critical materials intensifies, MSR is positioning Việt Nam as a key node in the future digital economy, linking the nation's natural resources to the world's most advanced technologies. — VNS