AsemconnectVietnam - That was shared by Mr. Vu Dang Linh, General Director of Mobile World Investment Corporation (code MWG - HOSE) at the meeting with investors to report business results for the second quarter of 2025.

Regarding the IPO of Bach Hoa Xanh chain, Mr. Linh said that the profit in 2025 is expected to be over VND600 billion, the Company is still determined to realize the ambition of IPOing Bach Hoa Xanh in 2028, to carry out the IPO plan, the Company needs to operate more to make up for all losses, the Company is in the plan to carry out the IPO.
The company will continue to accelerate revenue growth and implement many other business models, reduce store operating costs, as well as logistics costs, and cooperate more deeply with suppliers to optimize costs from production, packaging, warehousing, transportation, advertising, promotion, display, after-sales service, etc., to optimize operating costs for both Bach Hoa Xanh and suppliers, thereby helping Bach Hoa Xanh make a profit.
In fact, after successfully developing the The Gioi Di Dong and Dien May Xanh chains, The Gioi Di Dong Company has promoted the development of the Bach Hoa Xanh chain with the expectation that this will be the next growth driver for the Company after the success of the The Gioi Di Dong and Dien May Xanh chains.
By 2015, the Bach Hoa Xanh chain was officially established, starting to merge business operations into The Gioi Di Dong from 2016.
In particular, the Bach Hoa Xanh chain demonstrated a rapid expansion process, if at the end of 2016 there were only 48 stores, by the end of 2021 it had reached 2,106 stores, an increase of 42.9 times in just 5 years. However, after the pandemic passed, the chain closed a net of 378 stores in 2022, closed a net of 30 more stores in 2023 and started to expand again recently.
As of the end of June 2025, the Bach Hoa Xanh chain had increased to 2,184 stores, the chain with the largest number of stores in the entire system.
Despite owning a large number of stores and making a profit again in 2024 and the first half of 2025, as of June 30, 2025, the Bach Hoa Xanh chain still had an accumulated loss of VND6,917.99 billion, which was mainly incurred in the period 2020 - 2023.
It is known that according to the provisions of Article 109 of Decree 155/2020/ND-CP on listing conditions on HOSE, the ratio of after-tax profit to equity (ROE) in the year immediately preceding the year of registration for listing is at least 5% and the business activities of the 2 consecutive years preceding the year of registration for listing must be profitable; there are no overdue debts for more than 1 year up to the time of registration for listing; there are no accumulated losses based on the most recent audited annual financial statements or reviewed semi-annual financial statements in the case of registration for listing after the end date of the semi-annual financial reporting period.
Thus, in order to be able to list the Bach Hoa Xanh chain smoothly, this unit needs to at least erase the accumulated loss of VND6,917.99 billion.
In addition to the loss-making Bach Hoa Xanh chain, by the end of the second quarter of 2025, the An Khang pharmacy chain also had an accumulated loss of VND1,060.5 billion and the Erablue chain had an accumulated loss of VND30.3 billion (total investment of VND391.4 billion).
Also at the investor meeting, investors asked why the leaders sold MWG shares in the context of the Bach Hoa Xanh chain growing positively and the Company's plan to buy 10 million treasury shares, why it was still not implemented and how far it was implemented.
Responding to the shareholder's question, Mr. Linh shared that he had just learned that Board member Pham Van Trong had registered to sell 500,000 MWG shares, but it was due to Mr. Trong's personal needs. In the coming time, Bach Hoa Xanh and MWG both have good prospects and the following years are also very high.
Regarding the plan to buy back treasury shares, the Company initially planned to buy back 10 million treasury shares, but this buyback is still related to regulations, the Company only buys back treasury shares after at least 6 months from the completion of the issuance of ESOP shares. Meanwhile, the issuance of ESOP shares was just completed on April 18, 2025, so at least on October 18, 2025, the Company will be able to submit a request to the state agency to buy back shares, the Company is making efforts to complete the documents to buy back shares.
"The Company plans to buy back enough 10 million shares for this batch, the maximum purchase price is up to VND 100,000/share", Mr. Trong emphasized.
Previously, from May 20 to June 18, Mr. Pham Van Trong, a member of the Board of Directors of Mobile World and General Director of the Bach Hoa Xanh chain, sold 94,700 MWG shares. After that, Mr. Trong continued to register to sell 500,000 MWG shares to reduce his ownership from 0.21% to 0.18% of charter capital, the transaction is expected to be carried out from August 21 to September 19.
In addition, on July 31, the Dragon Capital fund group sold 1,467,900 MWG shares to reduce its ownership from 6.03% to 5.93% of charter capital. Of which, Vietnam Enterprise Investments Limited fund sold 1 million shares and Hanoi Investments Holdings Limited fund sold 467,900 shares.
N.Nga
Source: VITIC/Tinnhanhchungkhoan