Breakthrough growth in 2025
On March 25, in Hanoi, Bao Tin Manh Hai Jewelry Joint Stock Company (BTMH) announced its business strategy for the period 2026-2030 with the vision of becoming a "national gold brand", aiming for a network of about 450 stores nationwide.
According to the 2025 financial report audited by Grant Thornton Co., Ltd. (Vietnam), Bao Tin Manh Hai's net revenue reached 27,891 billion VND, an increase of more than 1,000% compared to 2024 and exceeding the plan by 19.2%. After-tax profit reached 774 billion VND, an increase of more than 3,400% and exceeding the plan by nearly 88%.
Notably, the return on equity (ROE) reached more than 110%, in the context that the business only operated 12 stores by the end of 2025. This shows that business performance per point of sale is high.
During the year, the company also increased its charter capital from 300 billion to 500 billion VND through a private share offering to 5 investors. The capital change was approved and recorded by functional agencies at the end of February 2026. In addition, the enterprise has paid 2024 dividends in cash at a rate of 7%.
Governance transformation, towards modern standards
Bao Tin Manh Hai was established in 1992, associated with a golden family with more than 30 years of experience. 2025 marks a shift to a modern management model, led by Chairman of the Board of Directors Vu Hung Son.
The Board of Directors consists of 5 members, not directly involved in management, including 1 independent member, Mr. Hoang Quoc Anh (elected additionally from August 2025). The Chairman of the Board of Directors does not concurrently hold the position of General Director - in accordance with international governance practices applied to public companies.
The enterprise also consolidates its operating apparatus, establishes branches in Ho Chi Minh City, repositions its brand and deploys a management system towards standardization.
According to the new strategy, Bao Tin Manh Hai aims to become the largest 24K gold retail chain in Vietnam by 2030, with about 450 stores.
In 2026 alone, the enterprise plans to open more than 68 stores, bringing the total number to about 80 points of sale nationwide.
Key tasks include: standardizing the retail system, developing brands, improving financial management capacity and seeking investment cooperation opportunities at home and abroad.
Large gold market, expanding opportunities
Bao Tin Manh Hai said that the Vietnamese gold market has a minimum capacity of about 427 trillion VND (according to data from the World Gold Council). Vietnam consumes 55.3 tons of gold per year, the highest in Southeast Asia.
At Bao Tin Manh Hai, the key product line Kim Gia Bao - stored 24K gold - currently accounts for a large proportion in the revenue structure. This is a product line that inherits the prestigious reputation of artisan Vu Manh Hai for more than 3 decades, designed with a diverse identity so that everyone has the opportunity to own it.
In the context of a still fragmented market, with nearly 70% market share still belonging to traditional stores, businesses believe this is an opportunity to expand the retail chain according to a standardized model.
The company also aims to increase its personnel scale to nearly 10,000 people by 2030, with announced remuneration policies 20-30% higher than the industry average.
The World Bank forecasts that Vietnam's economy will grow by 6.3% in 2026; global inflation is trending downwards; central banks continue to buy gold reserves.
Bao Tin Manh Hai believes that this is a favorable time to implement the strategy prepared from the period 2021 - 2025, aiming to lead the domestic 24K gold market.
