Billionaire Phạm Nhật Vượng, Vingroup chairman, at the annual general meeting of shareholders. — Photo courtesy of the company

HÀ NỘI — Vingroup has set an ambitious growth plan for 2026, targeting a near threefold increase in profit while opting to retain earnings to support its expanding business ecosystem.

At its annual general meeting held on April 22, the conglomerate reported a record performance in 2025, with net revenue reaching VNĐ331.8 trillion (US$12.6 billion), up 75.5 per cent year-on-year, while net profit rose 109.7 per cent to VNĐ11.1 trillion. 

The results exceeded the targets approved at the previous annual general meeting by nearly 11 per cent for both revenue and profit, marking the highest levels since the group's establishment.

Despite its strong earnings, Vingroup said it would not distribute dividends, choosing instead to retain the entire profit to reinvest in production and business activities.

For 2026, the group has set a revenue target of VNĐ485 trillion, representing a 46 per cent increase from 2025, while net profit is projected at VNĐ35 trillion, roughly triple the previous year. The plan was approved by shareholders at the meeting.

The company said it will continue to strengthen its three core pillars — technology and industry, commercial services and social philanthropy — while expanding into new areas, such as infrastructure, green energy and cultural development. 

To support this strategy, the board indicated it would pursue multiple capital raising channels through domestic and international financial instruments.

Within its ecosystem, VinFast remains a key focus for investors. The electric vehicle maker has set a target of delivering 300,000 electric cars and approximately one million electric motorbikes in 2026, compared with total deliveries of about 406,500 units in 2025. 

Of the projected volume, more than 200,000 electric cars are expected to be sold in the domestic market.

Responding to shareholder questions, President Phạm Nhật Vượng said Vingroup is restructuring VinFast's global operations and pursuing a diversified battery supply strategy.

"We are pursuing all three approaches, including procurement, partnerships and in-house production, to reduce investment pressure on research, manufacturing and infrastructure, while maintaining competitive advantages in product quality and pricing," he said.

Participants at the Vingroup annual general meeting on April 22. — Photo courtesy of the company

Addressing questions on hybrid vehicles, Vượng stated that VinFast would remain focused on electric vehicles. 

"VinFast will always be an electric vehicle company and will not return to gasoline cars," he said, adding that the company continues to invest in improving vehicle range and user experience, particularly in scenarios where charging infrastructure is limited.

In the mobility services segment, Vingroup is preparing for the initial public offering (IPO) of Green SM. He said a formal IPO is expected in the second half of 2028, while a pre-IPO phase could begin as early as 2026. 

"The IPO of Green SM will create significant value for the Vingroup ecosystem," Vượng said. 

Beyond automotive and mobility, Vingroup outlined expansion plans across its other business segments.

In residential real estate, Vinhomes aims to maintain its leading position through large-scale urban developments in prime locations. In tourism and hospitality, Vinpearl is focusing on MICE tourism and wedding services, while developing new integrated resort complexes, including a project in the northern province of Tuyên Quang expected to launch this year.

He also addressed shareholder queries on semiconductor manufacturing, noting that while entry barriers for basic chips are relatively low, developing advanced semiconductors would require tens of billions of dollars and highly sophisticated technology.

As for other sectors, Vượng confirmed that Vingroup has no plans to enter aviation and has withdrawn its proposal related to the North-South high-speed railway project.

All of the proposals presented at the meeting were approved by shareholders, including the 2026 business plan and the appointment of a new board of directors for the 2026-2031 term. — BIZHUB/VNS