A trade fair organizer surprises by joining the ranks of top-earning listed companies

DNHN - Financial results for Q2 and the first half of 2025 have been announced by numerous companies listed on the Vietnamese stock market.

As expected, the banking sector continues to dominate the list of top earners. However, a surprising name has emerged: Vietnam Exhibition Fair Center Joint Stock Company (stock code: VEF) has climbed to the second position in terms of profit.

Among the banks that have disclosed their H1/2025 results, Vietcombank (VCB) remains the undisputed leader, with a six-month pre-tax profit of VND 21.8938 trillion, up 5% year-on-year. Following closely is Vietnam Exhibition Fair Center JSC, a subsidiary of Vingroup. In Q2/2025 alone, VEF reported a pre-tax profit of VND 440 billion—more than triple the amount from the same period last year. Remarkably, in Q1/2025, the company recorded a staggering pre-tax profit of VND 18.605 trillion. This brings its total H1/2025 pre-tax profit to an unprecedented VND 19.081 trillion, surpassing numerous major banks. In terms of profit growth rate, VEF leads the entire market with a massive increase of 8,341% in the first six months of the year.

Next on the list is VietinBank (stock code: CTG), which posted a six-month pre-tax profit of over VND 18.920 trillion, a 46% increase year-on-year. Meanwhile, BIDV reported a stable six-month pre-tax profit of nearly VND 16.038 trillion, placing it fourth among the most profitable listed companies. This means VietinBank has overtaken BIDV in terms of profitability for H1/2025.

Other high-earning banks in the top 10 include:

• Military Bank (MBB): Consolidated pre-tax profit of nearly VND 15.900 trillion, up 18% year-on-year.

• Techcombank (TCB): Pre-tax profit of approximately VND 15.135 trillion in H1/2025, slightly down compared to the same period last year.

• VPBank (VPB): Consolidated pre-tax profit of VND 11.2294 trillion, up 29% year-on-year.

• ACB: Pre-tax profit reached nearly VND 10.690 trillion, with a modest increase year-on-year.

In addition to VEF, the parent company Vingroup—founded by billionaire Pham Nhat Vuong—also ranked among the top 10 most profitable firms. Vingroup reported a six-month pre-tax profit of VND 11.044 trillion, a 68% year-on-year increase driven by real estate, technology, and electric vehicle manufacturing.

Meanwhile, its subsidiary Vinhomes (VHM) posted a consolidated pre-tax profit of VND 12.945 trillion for H1/2025. Though this figure marked a slight decline from the previous year, it still surpassed that of the parent company. In Q2/2025, Vinhomes launched two new projects: Vinhomes Golden City (Duong Kinh, Hai Phong) and Vinhomes Green City (Hau Nghia, Ho Chi Minh City), which are expected to be major growth drivers in the second half of the year.

Hai Chung