AsemconnectVietnam - Amidst the growing global demand for strategic materials, Masan High-Tech Materials Joint Stock Company (UpCOM: MSR) remains committed to a sustainable development strategy based on innovation, using science and technology, creativity, and sustainable development as drivers to enhance competitiveness, increase resource value, and strengthen Vietnam's position in the global high-tech materials supply chain.

Continuous improvement to create more value from every ton of ore
Innovation is a crucial driver in MSR's long-term development strategy. The company continuously invests in research, applies new technologies, and improves production processes to enhance mineral recovery rates, increase resource value, and optimize operational efficiency throughout the entire value chain.
In 2025, MSR recorded a tungsten recovery rate of over 96% at the Masan Tungsten Refinery, despite numerous challenges from fluctuating input materials. Through projects such as the expansion of Fluorite Cleaner 5, reprocessing of waste streams from the fine-grained gravity (HG) separation stage, etc., the company continuously seeks solutions to improve mineral processing technology, optimize chemicals, energy, equipment, and operational data to enhance the recovery efficiency of tungsten, fluorite, and other valuable minerals, contributing positively to production efficiency.
Simultaneously, MSR is promoting deep processing to increase product value. Research, testing, and process optimization efforts have helped the company successfully develop high-tech product lines such as ammonium metatungsten (AMT), ultrafine tungsten oxide, and especially 99.99% ultra-pure APT, with 72 tons already supplied to customers at premium prices in 2025.
This is the result of a long-term investment strategy in R&D, digital transformation, and AI application in operations, helping MSR not only enhance its competitiveness but also increase the value of its resources and affirm Vietnam's position in the global strategic materials supply chain.
Building a culture of innovation throughout the organization
In addition to investing in technology, MSR builds a culture of innovation as an integral part of its daily operations.
Through the MSR Initiative Program, the Innovation Day, and the MSR Idea Management digital platform, all employees are encouraged to propose ideas, share initiatives, and replicate effective improvement models.
In 2025 alone, the system recorded 7,336 ideas, of which 1,341 initiatives were approved for implementation. From small operational improvements to large-scale technological solutions, each initiative contributes to improving operational efficiency, enhancing safety, optimizing costs, and creating additional value for the business.
The spirit of continuous improvement is becoming an integral part of MHT culture, where every MHTer can contribute to the company's innovation journey.
Innovation drives growth.
These innovation efforts have contributed to positive business results for MSR. In 2025, the company achieved revenue of VND7,443 billion, contributing over VND1,030 billion to the state budget and allocating over VND3.8 billion to social responsibility activities and community support.
Entering 2026, the company continues to maintain strong growth momentum. After achieving nearly VND3,000 billion in revenue and VND537 billion in after-tax profit in the first quarter, MSR estimates an additional VND690 billion in profit in the second quarter, bringing the cumulative profit for the first six months to approximately VND1,227 billion. This result reflects the favorable developments in the commodity market, the company's efforts in innovation, focus on high value-added products, and optimized operations.
MSR's growth momentum is expected to continue improving as the volume of processed ore recovers and increases more strongly from the third quarter thanks to adjusted mining licenses, with 28 million tons of ore continuing to be mined. Notably, Nui Phao Company – a subsidiary of MSR – was selected to conduct exploration at Nui Phao Expansion and Nui Chiem, two areas with the potential to add approximately 115 million tons of polymetallic tungsten resources. This is a crucial foundation for MSR to expand mining and processing over the next 20-30 years, consolidating its long-term development potential in the global strategic materials supply chain and creating sustainable value for stakeholders.
Promoting a new direction for the tungsten value chain
After 16 years of development, MSR has built a rare integrated value chain in the mining industry. With a modern technology system, well-invested production lines, and the ability of Vietnamese experts to master deep processing technology, MSR has a crucial foundation to control quality, optimize resource utilization efficiency, and promote sustainable development models.
In the coming period, MSR plans to expand its deep processing operations, continue promoting the circular economy model, and develop a tungsten recycling plant to increase metal recovery from secondary raw materials and reduce dependence on mining. This direction not only meets increasingly high standards for ESG, traceability, and responsible supply chains, but also aligns with the Government's direction to promote science and technology, innovation, and enhance self-reliance in strategic industries of the future such as artificial intelligence (AI), semiconductors, electric vehicles, and clean energy.
N.Nga
Source: VITIC/Finance - Investment Newspaper