Thaiholdings reported Q3 2026 net revenue of nearly VND 319 billion, up 31%, but consolidated after-tax profit was only about VND 5 billion, down nearly 80% from the year-earlier period, weighed down by a loss of over VND 15.5 billion from associates and joint ventures. The company said 2026 is its first year of consolidated reporting, so the Q3 2025 comparison uses its standalone financial statements; on a parent-company basis, Q3 after-tax profit was over VND 20 billion, down 14%. For the first nine months, revenue reached nearly VND 891 billion, up about 16%, and after-tax profit was VND 106 billion, with the company having achieved about 92% of its 2026 revenue plan and exceeded its pre-tax profit plan by over 14%. Thaiholdings is also one of three companies that proposed the Hanoi Twin Towers 99 project, comprising two 568-metre towers with 99 above-ground floors and projected investment of USD 3–3.5 billion.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Doanh nghiệp đề xuất xây tòa tháp đôi cao nhất thế giới báo lãi quý 3 "bốc hơi" 80%
Keywords
Open a keyword to see other news on the same topic.
Related news
- Shares of firm proposing world's tallest twin towers "show unusual move"
THD shares of Thaiholdings hit the daily limit up 9.99% to VND 98,000 on October 12, their second consecutive limit-up session, though liquidity was only 4,400 shares. Thaiholdings registered to buy 78.32 million more Thaigroup shares in a rights offering, which would raise its holding to 250.64 million shares, though its ownership ratio is expected to fall to 44.36%. Earlier, the company cancelled its 2026 first extraordinary general meeting, so the planned charter capital increase was not put forward for consideration. Thaiholdings is also one of three partners proposing the Hanoi Twin Towers 99 project in Hanoi, about 568 m tall with total investment of USD 3–3.5 billion. In the first six months of 2026, net revenue reached VND 572 billion (+9%) and after-tax profit reached VND 101 billion, double the same period last year.
- Company Proposing World's Tallest Twin Towers Reports Lower Q3 Profit
Thaiholdings (THD) reported Q3 2026 net revenue of nearly VND 319 billion, up 31% year on year, but consolidated net profit was only about VND 5 billion, down nearly 80% from VND 24 billion a year earlier. The company said 2026 is its first year of consolidated reporting, so the Q3 2025 comparison uses its standalone financial statements; on a parent-company basis, Q3 net profit was over VND 20 billion, down 14%. Results were affected by a loss of over VND 15.5 billion from associates and joint ventures and by administrative expenses that rose to VND 4.5 billion. For nine months, net revenue reached nearly VND 891 billion (up about 16%) and net profit VND 106 billion; the company has achieved about 92% of its annual revenue target and exceeded its pre-tax profit plan by over 14%. Thaiholdings is also part of a consortium that proposed the Hanoi Twin Towers 99 project, with two 568-metre towers and estimated investment of USD 3–3.5 billion.
- Supplying pallets, trolleys, steel cages... to a Vingroup company, a Vietnamese business reports revenue nearly doubling and plans two more factories next year
CNC Hà Nội, which supplies pallets, packaging crates, trolleys and steel cages, reported revenue of over 225 billion VND in the first nine months of 2026, about double the more than 110 billion VND recorded in 2025. It became a direct supplier to VinFast in 2025, having supplied the automaker indirectly through its suppliers since 2017. Its workforce has also nearly doubled, and it produced nearly 100,000 packages in the first nine months. The company plans to open two more factories in Hanoi and Hung Yen in 2027 if customer demand is strong enough, and hopes to supply VinFast's overseas plants in Indonesia and India, though these are expectations rather than confirmed orders.
- Lê Cao Quyền Arrested as Company's Q3 Profit Doubles Year on Year
TV4 reported Q3 2026 profit up more than 103% year on year, even though net revenue fell 10.5% to over VND 62 billion. A nearly 25% drop in cost of goods sold lifted gross profit 35% to nearly VND 23 billion and improved the gross margin from 24.3% to 36.6%. For the first nine months, net revenue reached VND 166 billion and after-tax profit reached VND 16 billion, up about 57%, but operating cash flow was only about VND 16 million positive, versus over VND 43.5 billion a year earlier. Cash and equivalents stood at about VND 36.1 billion at end-September, down more than VND 11 billion from the start of the year. Earlier, former chairman Lê Cao Quyền and general director Trần Cao Hỷ were detained in a case involving the National Power Transmission Corporation, and an extraordinary shareholders' meeting on August 24 removed them from the board.
- Vietnamese firm owns 12,000 special “iron towers” earning over VND 50 billion a day
Viettel Construction (CTR) reported September revenue of VND 1,520 billion, up 13% year on year, with pre-tax profit above VND 75 billion, and estimated average daily revenue at over VND 50 billion. Nine-month revenue reached nearly VND 12,343 billion, up 23%, with pre-tax profit of about VND 617 billion, up 13%, roughly 79% of its full-year plan. Construction revenue rose 37% to nearly VND 4,670 billion, technical solutions and services rose 51% to over VND 2,140 billion, and infrastructure leasing reached VND 716 billion, up 13%. As of end-September, the company owned 12,000 BTS base stations.
- The 'Best Country in the World': Record 174,000 Jobless, High Inflation, Ultra-Slow Wage Growth, and 75,000 People Leaving in One Year
New Zealand's unemployment rate rose to 5.7% in the third quarter of 2026, its highest since 2015, with 174,000 people unemployed, while employment fell by about 4,000 from the previous quarter. Wage growth slowed to 2% from 2.1%, while inflation was 3.7%, above the central bank's 1–3% target range. The central bank held its official cash rate at 2.75% after two earlier hikes, saying it needs time to assess their impact, though further hikes remain possible. Nearly 75,000 people left New Zealand last year, 58% of them for Australia, where GDP per capita is about USD 64,400 compared with about USD 48,000 in New Zealand.
Related markets
Latest news
- Stocks Unexpectedly Surge 33 Points: What's Happening?
VN-Index reversed from a weak open to close up 33.4 points (+1.97%) at 1,733.02 on Nov 4, recovering the 1,700-point psychological level lost after a string of losing sessions. Nguyễn Thế Minh of An Bình Securities (ABS) said the U.S. mid-term congressional election on Nov 3, along with a weaker U.S. dollar and U.S. Treasury yields, could ease currency pressure on emerging markets like Vietnam. The same day, the State Bank of Vietnam announced a VND liquidity plan via 182-day USD/VND FX swaps of up to USD 2 billion, to be executed on Nov 6, which could initially inject up to about VND 48,800 billion; the tenor is longer than the 7-day swap in September. MB Securities (MBS) noted that November has risen in 70% of the past 10 years, averaging 3.8% gains, but many stocks have broken below October's lows even as large caps supported the index. Minh said a sustainable rally needs improved cash flow and continued gains in leading stocks.
- 5,364 Russian Companies Declared Bankrupt
According to TASS, Russian courts opened bankruptcy proceedings against 5,364 companies in the first nine months of 2026, nearly one-third below the 7,850-case average for the same period in 2012–2025. In Q3 2026 alone, courts declared 1,818 companies bankrupt, down 4.5% from the previous quarter but up 18.5% from a year earlier. Over this period, only 2025 (4,736 cases) and 2023 (5,067 cases) were lower than 2026, while the peak was 9,705 cases in the first nine months of 2015. Courts also opened 49 external management and financial recovery procedures, 0.9% of all procedures, compared with 39 (0.8%) in the same period of 2025.
- Prime Minister: State Budget Must Share Burden with People and Businesses
In the conclusion of the regular October government meeting on the morning of Nov 4, Prime Minister Lê Minh Hưng said the state budget must share the burden with the economy, people and businesses, even though fuel tax cuts strongly affect budget revenue, in order to curb inflation in the last two months of the year. From Nov 1, average electricity prices fell 2% to VND 2,159.9 per kWh until end-March 2027, and the special consumption tax on gasoline was cut to 0% until March 31, 2027, lowering gasoline prices by VND 1,575–1,804 per liter, with a budget revenue shortfall expected to exceed VND 7,672 billion. Average CPI for the first 10 months rose 4.57% year on year, above the full-year target of about 4.5%, and the Ministry of Finance estimated these measures would lower the November CPI increase by about 0.5 percentage points. Budget revenue for the first 10 months reached nearly VND 2.45 quadrillion, equal to 96.4% of the annual estimate.
- Foreign Investors Ease Selling as VN-Index Breaks Out; VND 350 Billion Goes to 2 VN30 Stocks
Strong gains spread across sectors, led by securities, banks and real estate, pushing VN-Index up more than 33 points to 1,733 points, with HoSE matched value reaching about VND 15,400 billion. Foreign net selling eased sharply to about VND 70 billion across the market, comprising net selling of VND 66 billion on HoSE, net buying of VND 7 billion on HNX and net selling of VND 11 billion on UPCoM. On HoSE, foreign investors net bought the most in FPT (about VND 183 billion), MSN (about VND 175 billion) and CTG (about VND 82 billion), while net selling was led by MBB (nearly VND 199 billion), followed by ACB (VND 93 billion) and BSR (VND 83 billion).
- Deputy Governor: New Loan Rates Down 0.2–0.5%
Interest rates on new loans in late October fell 0.2–0.5 percentage points from early in the month, according to Deputy Governor Phạm Thanh Hà at the government press conference on Nov 4. The State Bank of Vietnam asked credit institutions to cut deposit rates by 0.5–1% a year for new deposits with tenors of 6 months or more, and to cut lending rates for production, business and priority sectors by 1.5–2%. State-owned commercial banks and foreign banks commonly cut deposit rates by 0.5%, joint-stock banks cut 0.5–0.7%, and over 20 banks announced preferential credit packages with reductions of 0.5–2%. The regulator will keep pushing cuts to both deposit and lending rates and will address institutions that fail to comply. As of Oct 26, outstanding credit across the economy reached over VND 20.8 million billion, up 11.94% from end-2025.
- European shares gain on Novo’s results; markets weigh U.S. midterms
European shares edged higher on Wednesday, led by Novo Nordisk, which jumped nearly 6% after reporting third-quarter adjusted operating profit above expectations and raising its full-year sales and profit forecasts. The pan-European STOXX 600 rose 0.3%, Germany's DAX gained 0.25%, France's CAC 40 rose 0.3% and London's FTSE 100 gained 0.4%. Sentiment was shaped by early U.S. midterm results pointing to significant Democratic gains in the House and a tightly contested Senate, which could limit Trump's ability to unilaterally impose aggressive tariffs and roll back clean-energy subsidies, while adding uncertainty over U.S. fiscal support for NATO and Ukrainian defense. European tech shares recovered part of their earlier steep losses after robust AMD results eased concerns over the sustainability of AI capital spending. ASML, ASM International, STMicroelectronics, BE Semiconductor and Prosus gained between 0.3% and 2%, while markets awaited the euro zone's flash HICP inflation data.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.