Truong Hai Group Corporation (Vietnam)

After more than 25 years of establishment and development, from a company specializing in importing used cars and providing auto repair parts and supplies, Truong Hai Group has grown dramatically, turning the business into a multi-industry corporation operating in 6 fields including Thaco Auto (automotive), Thaco Agri (agriculture), Thaco Industries (mechanical and supporting industries), Thadico (construction investment), Thilogi (logistics) and Thiso (trade & services), in which the industries complement each other and are highly integrated. Previously, Truong Hai Group was a public company. Nevertheless, since 03 Mar 2021, the subject submitted to State Securities Commission for canceling public company status. On 14 May 2021, the State Securities Commission announced the cancellation of the status of a public company for the subject. As announced, in 2022, Truong Hai Group's consolidated net income reached VND 7,420 billion, up by 40% as data of 2021, returning to the milestone of VND 7,000 billion after 5 years. By the end of 2022, Truong Hai Group's total assets were over VND 153,000 billion (+19% Y/y).  In 2023, the company continues to set "terrible" ambitions: + About the automobile segment: in 2023, Thaco Auto expects sales to reach over 120,000 vehicles (passenger cars: 96,000 vehicles, trucks: 23,500 vehicles, buses and minibusses: 1,500 units). Total consolidated revenue will be over VND 90,000 billion, of which service revenue will be VND 5,200 billion. + In terms of mechanics & supporting industries: in 2023, Thaco Industries will invest in building a new R&D Center, a passenger car interior complex, a passenger car glass factory, and 2 auto component factories in Chu Lai with a total investment of more than VND 3,000 billion. Investment spending plan in 2023 is VND 1,700 billion. Total consolidated revenue is expected to be VND 20 trillion, of which more than VND 9,600 billion is exported revenue, equivalent to USD 400 million. + In terms of agriculturial segment: Thaco Agri will develop the banana-growing area in the complexes to 14,000 hectares. The company also continues its strategy of raising reproductive cows and producing organic fertilizers for growing gardens. The investment area of the breeding cow farm is 6,000 hectares with the scale of the cow herd of more than 100,000 heads by the end of 2023. According to the plan, the total consolidated revenue in 2023 of Thaco Agri is estimated at VND 10,000 billion. + About logistics segment: Thilogi, the subject will invest in upgrading and putting into operation the port infrastructure, completing and putting into operation the 50,000-ton port by November 2023 with estimated revenue at above VND 3,000 billion. + Regarding the real estate segment: Thadico - Dai Quang Minh will research investment and development in the fields of mining and renewable energy and will kick off 24 commercial and service projects. In 2023, the company will complete and hand over 3 projects with a total investment disbursed in 2023 of VND 6,731 billion. + About retail segment: Thiso has put into operation Thiso Sala Center Complex in 2022. By 2023, Thiso will put into operation Thiso Retail Phan Huy Ich (HCMC). The company has built two complex projects (Tay Ho Tay – Hanoi and Bien Hoa - Dong Nai) to put into operation in 2024. Emart Vietnam sets a target of total revenue of the whole chain reaching VND 3,200 billion, an increase of 60% compared to 2022.At the same time, in 2023, Truong Hai Group will invest in transport infrastructure projects, industrial parks, and urban areas in Chu Lai (Quang Nam). The total investment value disbursed during the year for these projects is VND 3,300 billion.