MSH

HOSEConsumer Goods

May Sông Hồng Joint Stock Company

Original Name: Công ty cổ phần May Sông Hồng

Reference Price34.900 ₫

Interactive Stock Chart

Exchange Ticker: HOSE:MSH

Listing Information

Exchange MarketHOSE

Live SectorDệt may

First Trading Date28/11/2018

First Close Price₫54,000

Capital Structure

Charter Capital1,125.21 Billion VND

Listed Shares112,521,020

Outstanding Shares112,521,020

Treasury Shares-

Professional Advisors & Auditors

Independent Auditing History

Fiscal Year	Auditing Organization
2025	Grant Thornton Vietnam Co., Ltd.
2024	Grant Thornton Vietnam Co., Ltd.
2022	Grant Thornton Vietnam Co., Ltd.
2021	Grant Thornton Vietnam Co., Ltd.
2020	Grant Thornton Vietnam Co., Ltd.
2019	Grant Thornton Vietnam Co., Ltd.
2018	Kiểm toán VACO Co., Ltd.
2017	Kiểm toán VACO Co., Ltd.

IPO & Listing Consultant

Securities Ngân hàng Công thương Vietnam JSCListing Ticker Symbol: CTS

Detailed Corporate Timeline & Sectors

Timeline of Establishment & Development

Year 1988: On July 1, 1988, the company was established with the name 1/7 Garment Enterprise, a state-owned enterprise owned by the State with a scale of 100 people.
1993: Changed name to Song Hong Garment Company
In 1997: Regenerated Cotton Factory was merged into Song Hong Garment Company, becoming Song Hong II area, the whole company has 3 garment factories with 1000 people.
Year 2001: Bedding and Mattress brand named Song Hong was born
2002: Head office moved to 105 Nguyen Duc Thuan, City. Nam Dinh, scale of 3 garment factories with 1500 people.
Year 2004: The company was equitized, becoming Song Hong Garment Joint Stock Company
Year 2006: Further development of Song Hong III area at Highway 10, City. Nam Dinh, the whole company has up to 3600 people with 6 garment factories, 1 laundry factory, 1 bedding factory, 1 cotton and quilting factory
2007: Established Song Hong Garment Co., Ltd., with representative branch located in Hong Kong
2008: Further development of Song Hong IV area in Xuan Truong district, Nam Dinh province with 4 garment factories, 6000 people.
Year 2010: Deploying the construction project of Song Hong V area in Hai Hau district, Nam Dinh province with the scale of 4 garment factories. It is expected that by 2011 the whole company will have 8,000 people with 14 sewing factories, 2 laundry factories, 1 bedding factory, 1 cotton and quilting factory
2013: Established Song Hong 8 production zone - specializing in the production of high-quality bedding and non-chemical cotton top quality in Vietnam Male.

Business Sectors:

Production and trading of garments and all kinds of materials, equipment and goods serving industrial and textile production.
Trading in industrial products to serve people's livelihood.
Trading in domestic cigarettes, all kinds of alcohol and cosmetics.

Address: 105 Nguyen Duc Thuan, Nam Dinh Ward, Ninh Binh Province

Phone: 84 2283 649365 | Fax: 84 2283 646737

Disclosure Officer:

Email: [email protected] - [email protected]

Website: http://www.songhong.vn/

Ratio / Financial Indicator	2022	2023	2024	2025
Earnings Per Share (EPS)	₫3,001	₫2,180	₫3,933	₫6,006
Price-to-Earnings (P/E)	11.63x	16.01x	8.87x	5.81x
Book Value Per Share (BVPS)	₫15,278	₫16,084	₫18,268	₫17,047
Price-to-Book (P/B)	2.28x	2.17x	1.91x	2.05x
Return on Equity (ROE)	19.64%	13.55%	21.53%	35.23%
Return on Assets (ROA)	10.25%	7.10%	9.78%	14.45%
Net Profit Margin	6.12%	5.40%	8.38%	12.20%
Debt-to-Equity Ratio	0.92	0.91	1.20	1.28
Current Ratio	1.85	1.91	1.75	1.80

Audited Financial Statements

Source: KB Securities (KBS) Datafeed • Updated dynamically

Show absolute values (VND)

Doanh thu thuần về bán hàng và cung cấp dịch vụNet revenue

+0.3% YoY

Lợi nhuận sau thuế thu nhập doanh nghiệpNet profit after tax

+100.1% YoY

TỔNG CỘNG TÀI SẢNTOTAL ASSETS

+42.0% YoY

Financial Indicator (VND)	2025	2024	2023	2022
1. Doanh thu bán hàng và cung cấp dịch vụ 1. Revenue	5,538,068,232,000	5,280,403,155,000	4,541,917,426,000	5,522,914,527,000
2. Các khoản giảm trừ doanh thu2. Deduction from revenue	-	-	9,861,000	1,956,958,000
3. Doanh thu thuần về bán hàng và cung cấp dịch vụ3. Net revenue	5,538,068,232,000	5,280,403,155,000	4,541,907,566,000	5,520,957,569,000
4. Giá vốn hàng bán 4. Cost of goods sold	4,363,660,613,000	4,450,894,974,000	3,977,925,202,000	4,692,290,660,000
5. Lợi nhuận gộp về bán hàng và cung cấp dịch vụ5. Gross profit	1,174,407,620,000	829,508,181,000	563,982,363,000	828,666,909,000
6. Lãi/Lỗ của hoạt động bán, thanh lý bất động sản đầu tư6. Gain/(Loss) on disposal of investment property	-	-	-	-
7. Doanh thu hoạt động tài chính 7. Financial income	239,959,763,000	210,720,478,000	191,457,188,000	152,132,248,000
8. Chi phí tài chính 8. Financial expenses	91,952,024,000	84,720,444,000	72,904,822,000	65,115,821,000
Trong đó: Chi phí đi vay Of which: Interest expense	64,309,875,000	53,363,362,000	44,582,382,000	33,904,594,000
8. Phần lãi/lỗ trong công ty liên doanh, liên kết8. Share of associates and joint ventures' result	-25,274,976,000	-6,316,424,000	-	-
9. Chi phí bán hàng 9. Selling expenses	157,187,309,000	136,713,275,000	147,696,197,000	173,362,772,000
10. Chi phí quản lý doanh nghiệp 10. General and administrative expenses	309,964,306,000	252,452,333,000	229,726,710,000	296,762,929,000
11. Lợi nhuận thuần từ hoạt động kinh doanh11. Operating profit	829,988,766,000	560,026,183,000	305,111,821,000	445,557,635,000
12. Thu nhập khác 12. Other income	965,563,000	2,756,134,000	5,551,607,000	2,598,904,000
13. Chi phí khác 13. Other expenses	7,862,175,000	18,974,719,000	4,080,216,000	9,103,992,000
14. Lợi nhuận khác14. Other profit	-6,896,613,000	-16,218,585,000	1,471,392,000	-6,505,088,000
Phần lợi nhuận/lỗ từ công ty liên kết liên doanhShare of associates and joint ventures' result	-	-	-	-
15. Tổng lợi nhuận kế toán trước thuế15. Profit before tax	823,092,153,000	543,807,597,000	306,583,213,000	439,052,547,000
16. Chi phí thuế TNDN hiện hành16. Current corporate income tax expenses	147,319,947,000	101,317,547,000	61,337,831,000	101,367,330,000
17. Chi phí thuế TNDN hoãn lại 17. Deferred income tax expenses (*)	-	-	-	-
18. Lợi nhuận sau thuế thu nhập doanh nghiệp18. Net profit after tax	675,772,206,000	442,490,050,000	245,245,383,000	337,685,216,000
Lợi ích của cổ đông thiểu sốMinority Interest	61,852,495,000	29,967,285,000	695,768,000	-37,204,600,000
Lợi nhuận sau thuế của cổ đông của Công ty mẹProfit after tax for shareholders of parent company	613,919,711,000	412,522,765,000	244,549,615,000	374,889,816,000
19. Lãi cơ bản trên cổ phiếu (VNÐ)19. Earnings per share (VND)	5,456	5,499	3,260	4,998
20. Lãi suy giảm trên cổ phiếu (*)20. Diluted earnings per share	-	-	-	-

Data Source & Disclaimer

Data Source: Financial statement data is automatically aggregated from official disclosure feeds of listed companies through the analysis system of KB Securities Vietnam JSC (KB Securities).

Disclaimer: All financial data displayed on this website is provided for general reference purposes only. We make every effort to update accurate data but do not provide any warranty regarding its completeness or absolute reliability. The displayed figures do not constitute investment advice or an offer to trade securities. Users assume all risks and responsibilities for any financial decisions made based on the data on this website.

MSH

May Sông Hồng Joint Stock Company

Interactive Stock Chart

Listing Information

Capital Structure

Professional Advisors & Auditors

Independent Auditing History

IPO & Listing Consultant

Detailed Corporate Timeline & Sectors

Key Financial Ratios (2025)

Historical Financial Metrics (YoY)

Financial Ratios Reference & Interpretation Guide

Audited Financial Statements

MSH — Financial Data Summary (2022–2025)

Executive Summary

Operating Performance & Profitability

Asset Structure & Financial Leverage

Cash Flow Quality