AsemconnectVietnam - With an ambitious plan to invest in at least 30,000 charging stations by 2030, TMT Auto JSC (code TMT - HOSE) has made another move by contributing capital to establish a unit operating in the field of electric vehicle charging station business.

TMT Auto decided to contribute VND98 billion, equivalent to 98% of charter capital to establish a new legal entity, TMT Electric Vehicle Charging Station Investment and Trading Joint Stock Company, with the expected capital contribution time in August 2025.
In which, the new legal entity will operate in the field of electric vehicle charging station business and will be a subsidiary of TMT Auto.
It is known that at the 2025 General Meeting of Shareholders, TMT Auto announced its plan from now until 2030, the Company will invest itself and enter into joint ventures with domestic and foreign partners with advanced charging station manufacturing technology to invest in at least 30,000 charging stations (equivalent to 60,000 charging guns) according to European standards (CCS2) and other standards according to the actual objective requirements of the market, with a capacity of 7KW or more to serve well all the needs of the people and invest in equipment according to the requirements of each taxi company and the number of charging stations corresponding to the number of vehicles invested so that drivers can feel secure using electric vehicles as conveniently as fossil fuel vehicles. In terms of business activities, in the first quarter of 2025, TMT Auto recorded revenue of VND675.68 billion, an increase of 30.9% over the same period, after-tax profit of VND33.76 billion, compared to the same period, a profit of VND0.27 billion, an increase of VND33.49 billion. In which, gross profit margin decreased from 11.1% to 9.1%. During the period, although revenue increased, gross profit margin narrowed, so gross profit increased by only 7% over the same period, equivalent to an increase of VND4 billion, to VND61.27 billion; financial revenue increased by 93.3% over the same period, equivalent to an increase of VND0.28 billion to VND0.58 billion; financial expenses decreased by 75.1%, equivalent to a decrease of VND20 billion to VND6.63 billion; Sales and administrative expenses decreased by 27.9%, equivalent to a decrease of VND8.42 billion to VND21.73 billion, and other activities did not fluctuate significantly.
Thus, although gross profit increased slightly, net profit increased sharply, mainly due to a sharp decrease in financial, sales and administrative expenses.
It is known that in 2025, TMT Auto plans to have a revenue of VND3,838.7 billion, an increase of 65% over the same period, and an expected profit after tax of VND269.98 billion compared to a loss of VND325.36 billion in the same period. Of which, electric vehicle sales are expected to increase by 310% to 3,404 vehicles (830 vehicles were recorded in 2024); light and medium trucks increased by 98% to 3,456 vehicles; and heavy trucks increased by 96% to 1,215 vehicles.
Thus, ending the first quarter of 2025 with a profit after tax of VND33.76 billion, TMT Auto has only completed 12.5% of the annual plan.
In addition, although it made a profit in the first quarter of 2025, as of March 31, 2025, TMT Auto still had an accumulated loss of VND236.21 billion, equal to 63.3% of charter capital.
N.Nga
Source: VITIC/Tinnhanhchungkhoan