In a notice sent to the Ho Chi Minh City Stock Exchange late this week, Duy stated his intention to invest. He currently serves as general director of Vietnam Sun Corporation (Vinasun, stock code: VNS).
This marks the second time Duy has registered to acquire shares this year. Four months ago, he planned to purchase 2 million shares but only executed one-fourth of the order.
The new transaction is expected to take place from 10/12 and continue until the end of the first week of next year. If successful, Duy would increase his ownership in Vinasun to nearly 5,4 million shares. Five years ago, he held a similar number of shares but later transferred them to his mother for personal reasons.
Born in 1984, Duy is the son of former chairman of the Board of Directors and founder of Vinasun, Dang Phuoc Thanh. Thanh stepped down from leadership two years ago but remains the company's largest individual shareholder with a nearly 25% stake.
Vinasun CEO Dang Thanh Duy. Photo: Phuong Dong |
On the stock market, Vinasun shares frequently trade below par value (10,000 dong). In late trading this week, each share was exchanged around 9,120 dong. Average daily liquidity fluctuates between 20,000 and 50,000 units.
Vinasun's taxi business results show little sign of improvement. According to the latest quarterly financial report, the company's after-tax profit was over 9 billion dong, a 50% decrease from the same period last year and its lowest quarterly level in nearly four years. For the first nine months of the year, the company generated nearly 670 billion dong in revenue and 33 billion dong in after-tax profit, representing decreases of 14% and 44%, respectively, compared to the previous year.
Vinasun's management identifies 2025 as a challenging year for recovery and development. The company's main strategy is to invest in new hybrid vehicles to replace gasoline-powered cars and re-attract skilled drivers through fair cooperation policies and income sharing.
During its annual general meeting in late April, management emphasized the current "fiercely competitive" environment, facing numerous rivals. The company cited an electric vehicle business that increased its capital to over 18,000 billion dong in two years, and a multinational enterprise that raised 12 billion USD in a few years, whereas Vinasun's equity stands at only 1,100 billion dong.
"Despite such immense pressure, we are proud to remain an iconic taxi company in Ho Chi Minh City. We have fought resiliently and relied on our own efforts. Over the years, the company has consistently introduced new vehicles, ensured profitability, and distributed dividends to shareholders," a Vinasun representative shared.
Phuong Dong
