A Vinatex booth at an exhibition in Hà Nội. — Photo vinatex.com.vn

HÀ NỘI — The State Capital Investment Corporation (SCIC) plans to divest its entire stake in Vinatex by 2030, as the textile group reports strong profit growth and improved operating cash flow.

Vinatex is among 66 companies in which SCIC plans to sell all of its holdings during the next five years.

According to Vinatex's audited 2025 financial statements, SCIC is currently its largest shareholder, holding more than 267.4 million shares, equivalent to 53.5 per cent of charter capital.

Japanese strategic investor Itochu Corporation owns 13 per cent, while other shareholders hold the remaining 33.5 per cent. Vinatex has charter capital of VNĐ5 trillion (US$192 million).

The divestment plan comes after the textile and garment group reported record results in 2025. Net revenue reached VNĐ18.4 trillion, up 6 per cent year-on-year, while net profit more than doubled from 2024 to over VNĐ1.3 trillion.

Profit attributable to shareholders of the parent company was approximately VNĐ852 billion.

The momentum continued into the first half of 2026.

Vinatex generated nearly VNĐ9.5 trillion in revenue during the six-month period, an increase of 9.2 per cent from a year earlier. Profit before tax climbed 39 per cent year-on-year to VNĐ930.1 billion, while net profit rose 47 per cent to VNĐ857.7 billion.

Its network of 33 subsidiaries and 29 associates contributed nearly VNĐ300 billion in profit, accounting for about 32 per cent of consolidated profit before tax.

Vinatex's management attributed the performance to a strong recovery in prices in the yarn segment and its ability to take advantage of fluctuations in input material prices.

In the garment segment, the group maintained its traditional customer base while accelerating delivery times and responding to changes in tariff policies in the US market.

The balance sheet, however, also showed sizeable financial leverage. Total liabilities stood at VNĐ9.97 trillion at the end of June, although this represented a decline of VNĐ581 billion from the beginning of the year.

Outstanding borrowings remained above VNĐ6.2 trillion, compared with shareholders' equity of VNĐ10.9 trillion.

Vinatex's improving earnings and SCIC's proposed divestment have boosted VGT share performance on UPCoM.

From around VNĐ10,260 per share in late July, VGT rallied and at one point moved above VNĐ12,000 in mid-August, accompanied by a sharp increase in trading liquidity.

The stock has since pulled back to around VNĐ11,400 per share but remains approximately 11 per cent higher than its late-July level. — BIZHUB/VNS