AsemconnectVietnam - Three major shareholders of Saigon Passenger Transport JSC (BSG – UPCoM) simultaneously registered to divest all of their capital at BSG from May 16 to June 13, by negotiation and order matching.

Specifically, Tan Thanh Do Group JSC registered to sell all of nearly 14.43 million BSG shares, accounting for 24.05%, with the purpose of solving financial needs for business expansion investment.
In addition, with the purpose of solving personal finances, Mr. Pham Anh Hung and Mr. Nguyen Van Thanh have respectively registered to sell all of 9 million BSG shares, accounting for 15% and 4.5 million BSG shares, accounting for 7.5%.
If the transaction is successful, all three major shareholders above will no longer own BSG shares. Currently, all three major shareholders are related to Mr. Tran Ngoc Dan, Member of the Board of Directors of Saigon Passenger Cars.
It is worth mentioning that the divestment of major shareholders took place right after Saigon Passenger Cars announced its not-so-positive financial report for the first quarter of 2025. Specifically, the Company recorded revenue of VND111.3 billion, down 24.8% over the same period last year.
Net profit from business activities in the first quarter of 2025 decreased sharply by nearly 87.5%, reaching only VND1.23 billion, so pre-tax profit reached only VND1.5 billion, down 84.5% over the same period and was the lowest profit since the second quarter of 2022.
Thus, with the 2025 plan just approved at the recent Annual General Meeting of Shareholders, which is revenue of VND562.61 billion and pre-tax profit of VND16.37 billion, at the end of the first quarter, Saigon Passenger Cars completed nearly 20% of the revenue target and only completed more than 9% of the annual profit target.
N.Nga
Source: VITIC/Tinnhanhchungkhoan