Vietnamese corporate financial performance 2026

In the first half of 2026, various Vietnamese companies reported diverse and often challenging financial results. Some firms faced significant downturns; Vinasun, Becamex BCE, Nam Ha, Century Silk, and International Hoang Gia all reported substantial net losses. Specifically, Becamex BCE saw its operating cash flow drop to a record negative VND 623 billion, while Nam Ha experienced a 94% plunge in revenue.

Other companies showed contrasting trends. Kosy Corporation reported increased revenue and net profit, though its cash and cash equivalents dropped significantly relative to its total assets. Nhon Trach 2 (NT2) Power Joint Stock Company saw its audited net profit adjusted downward due to rising maintenance and repair costs. Meanwhile, Refrigeration Electrical Engineering Corporation (REE) significantly expanded its capital expenditure, increasing spending on fixed and long-term assets by 2.6 times compared to the previous year.

By August 2026, mid-year reports for VEAM and TMB highlighted further divergence in performance. VEAM reported a 23% year-on-year revenue increase to 2,574 billion VND and a 17% rise in after-tax profit to 3,982 billion VND, though profits notably exceeded revenue from core operations. TMB recorded revenue exceeding 20,844 billion VND, an 11.2% increase, yielding an after-tax profit of approximately 81.6 billion VND. However, TMB experienced a negative operating cash flow of over 3,198 billion VND, driven by a surge in short-term receivables involving related parties. TMB’s total assets grew by nearly 120% compared to the start of the year.