Customers at a store of Thong Nhat Hanoi. — Photo Thong Nht FB

 

The Hanoi Stock Exchange (HNX) recently approved the listing of 23.7 million shares of TNV, owned by Thong Nhat Ha Noi JSC, on the UpCom bourse. 

 

The transaction value for these shares is VNĐ237 billion (US$9.3 million), priced at VNĐ10,000 per share.

 

Established in 1960 as the Thong Nhat Bicycle Factory, Thong Nhat Hanoi has a rich history. Thong Nhat bicycles were once a beloved brand synonymous with generations of Vietnamese people.

 

As of June, ahead of the UpCom listing registration completion, major shareholders in Thong Nhat Hanoi include the Hanoi People’s Committee, representing 45 per cent of state capital, VSD Investment JSC with a 41.68 per cent stake and Trịnh Nguyên Khánh with 12.17 per cent.

 

The iconic Thong Nhat brand saw consistent revenue growth from 2020 to 2023. 

 

Revenues increased from VNĐ77.9 billion in 2020 to VNĐ100.5 billion in 2021. However, the company faced losses of VNĐ10 billion and VNĐ10.7 billion in 2020 and 2021, respectively, due to the impact of the COVID-19 pandemic.

 

By 2022, its revenue surged by almost 42 per cent to VNĐ142 billion, with TNV returning to profitability at VNĐ13.7 billion. In 2023, revenue continued its upward trajectory, reaching VNĐ176.6 billion, although net profit decreased to VNĐ2.6 billion.

 

Last year, sports bicycle sales at Thong Nhat Hanoi JSC dropped by 50 per cent, totalling around 12,000 units. Conversely, sales of children's bicycles saw a significant 140 per cent increase year-on-year, with over 74,000 units sold. — VNS

 

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