THD

HNXReal Estate & Construction

Thaiholdings Joint Stock Company

Original Name: Công ty Cổ phần Thaiholdings

Reference Price64.100 ₫

Interactive Stock Chart

Exchange Ticker: HNX:THD

Listing Information

Exchange MarketHNX

Live SectorVLXD tổng hợp

First Trading Date19/06/2020

First Close Price₫19,500

Capital Structure

Charter Capital3,850 Billion VND

Listed Shares384,999,972

Outstanding Shares384,999,972

Treasury Shares-

Professional Advisors & Auditors

Independent Auditing History

Fiscal Year	Auditing Organization
2024	Kiểm toán và Tư vấn UHY Co., Ltd.
2023	Kiểm toán và Tư vấn UHY Co., Ltd.
2022	Kiểm toán và Tư vấn UHY Co., Ltd.
2021	Kiểm toán và Tư vấn Đất Việt Co., Ltd.
2020	Hãng Kiểm toán và Định giá ATC Co., Ltd.
2020	Hãng Kiểm toán và Định giá ATC Co., Ltd.
2019	PKF Vietnam Co., Ltd.
2018	Kiểm toán VACO Co., Ltd.

IPO & Listing Consultant

Securities SSI JSCListing Ticker Symbol: SSI

Detailed Corporate Timeline & Sectors

Timeline of Establishment & Development:

Thaiholdings Joint Stock Company, formerly known as Kinh Thanh Investment and Development Joint Stock Company, was established and operated since March 24, 2011 under Business Registration Certificate No. 0105202998 issued by Hanoi Department of Planning and Investment, with registered charter capital. is 389,000,000,000 VND.
At the beginning, the Company mainly operated in the commercial field, so capital demand was not high and arranging capital from shareholders was still difficult. Therefore, the actual contributed charter capital at the time of business registration is 136,934,000,000 VND.
By September 29, 2016, according to the new development direction, the Company wishes to expand business activities through financial investment and business cooperation. Therefore, Kinh Thanh Investment and Development Joint Stock Company decided to convert its operating model to a Holdings model and change its name to Thaiholdings Joint Stock Company.
In April 2019, due to the need to expand business activities, the Company decided to fully contribute charter capital according to the registered capital amount. At the same time, during this period, after shareholders contributed the full charter capital of 389,000,000,000 VND, the Company increased its charter capital to 539,000,000,000 VND in the form of issuing shares to existing shareholders for the purpose of supplementing business capital, financial investment and business cooperation.
On January 6, 2020, the Company was approved by the State Securities Commission to become a public company.

Business Sectors:

Construction of other civil engineering works
Extraction of stone, sand, gravel, clay
Wholesale of materials and other installation equipment in construction
Real estate business, land use rights belonging to the owner, user or tenant.
Management consulting activities

Address: 210 Tran Quang Khai, Hoan Kiem Ward, Hanoi City

Phone: 024 3968 9898 - Fax: 024 3525 9898

Disclosure Officer:

Email: ''

Website: http://thaiholdings.com.vn/

Ratio / Financial Indicator	2022	2023	2024	2025
Earnings Per Share (EPS)	₫782	₫583	₫219	₫261
Price-to-Earnings (P/E)	81.94x	109.92x	293.11x	245.31x
Book Value Per Share (BVPS)	₫15,426	₫16,030	₫11,204	₫11,465
Price-to-Book (P/B)	4.16x	4.00x	5.72x	5.59x
Return on Equity (ROE)	5.07%	3.64%	1.95%	2.28%
Return on Assets (ROA)	3.64%	3.32%	1.89%	2.22%
Net Profit Margin	7.32%	12.00%	8.65%	10.28%
Debt-to-Equity Ratio	0.39	0.09	0.03	0.03
Current Ratio	1.14	5.66	12.41	14.91

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

-76.2% YoY

Lợi nhuận sau thuế thu nhập doanh nghiệpNet profit after tax

-66.6% YoY

TỔNG CỘNG TÀI SẢNTOTAL ASSETS

-45.1% YoY

Financial Indicator (VND)	2025	2024	2023	2022
1. Doanh thu bán hàng và cung cấp dịch vụ 1. Revenue	1,031,975,040,000	1,021,307,508,000	1,887,010,119,000	4,139,122,623,000
2. Các khoản giảm trừ doanh thu2. Deduction from revenue	53,446,808,000	47,676,782,000	16,773,762,000	26,482,876,000
3. Doanh thu thuần về bán hàng và cung cấp dịch vụ3. Net revenue	978,528,232,000	973,630,726,000	1,870,236,358,000	4,112,639,747,000
4. Giá vốn hàng bán 4. Cost of goods sold	956,284,895,000	950,470,077,000	1,838,402,237,000	3,812,643,955,000
5. Lợi nhuận gộp về bán hàng và cung cấp dịch vụ5. Gross profit	22,243,336,000	23,160,649,000	31,834,121,000	299,995,793,000
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	98,387,090,000	91,356,348,000	298,162,913,000	570,918,009,000
8. Chi phí tài chính 8. Financial expenses	-30,993,422,000	-20,427,727,000	41,349,657,000	180,196,327,000
Trong đó: Chi phí đi vay Of which: Interest expense	-	-	36,051,663,000	105,812,344,000
8. Phần lãi/lỗ trong công ty liên doanh, liên kết8. Share of associates and joint ventures' result	-	-	21,137,341,000	5,173,793,000
9. Chi phí bán hàng 9. Selling expenses	2,811,107,000	1,706,285,000	1,619,832,000	1,618,090,000
10. Chi phí quản lý doanh nghiệp 10. General and administrative expenses	21,072,457,000	26,442,082,000	248,514,682,000	281,962,483,000
11. Lợi nhuận thuần từ hoạt động kinh doanh11. Operating profit	127,740,284,000	106,796,358,000	59,650,205,000	412,310,695,000
12. Thu nhập khác 12. Other income	686,990,000	440,499,000	275,607,806,000	12,034,187,000
13. Chi phí khác 13. Other expenses	2,229,047,000	1,539,961,000	8,706,999,000	9,629,596,000
14. Lợi nhuận khác14. Other profit	-1,542,057,000	-1,099,462,000	266,900,807,000	2,404,591,000
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	126,198,227,000	105,696,896,000	326,551,012,000	414,715,286,000
16. Chi phí thuế TNDN hiện hành16. Current corporate income tax expenses	25,595,744,000	21,501,434,000	119,631,058,000	186,788,105,000
17. Chi phí thuế TNDN hoãn lại 17. Deferred income tax expenses (*)	-	-	-17,585,054,000	-73,239,476,000
18. Lợi nhuận sau thuế thu nhập doanh nghiệp18. Net profit after tax	100,602,483,000	84,195,461,000	224,505,008,000	301,166,656,000
Lợi ích của cổ đông thiểu sốMinority Interest	-	-	48,002,022,000	57,224,747,000
Lợi nhuận sau thuế của cổ đông của Công ty mẹProfit after tax for shareholders of parent company	100,602,483,000	84,195,461,000	176,502,986,000	243,941,909,000
19. Lãi cơ bản trên cổ phiếu (VNÐ)19. Earnings per share (VND)	261	219	458	697
20. Lãi suy giảm trên cổ phiếu (*)20. Diluted earnings per share	0	0	-	-

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.

THD

Thaiholdings 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

THD — Financial Data Summary (2022–2025)

Executive Summary

Operating Performance & Profitability

Asset Structure & Financial Leverage

Cash Flow Quality