What's happening with Thaiholdings' stock?

In just over a month, THD shares surged more than 360%, recording 18 consecutive upward sessions, bringing Thaiholdings' market capitalization back to nearly $2 billion.

The sudden surge in THD's price is reminding investors of the 2021-2022 period. Photo: THD .

In just over a month, THD shares of Thaiholdings Joint Stock Company have experienced one of the strongest price surges on the Vietnamese stock market. From around 32,000 VND/share at the end of April, THD has skyrocketed to 147,800 VND/share in the current trading session, representing a 360% increase.

Notably, this stock has recorded a streak of 19 consecutive days of price increases, with the last 7 days all hitting the ceiling price. This strong breakout has made THD the focus of attention for investors, especially since the stock had previously experienced a prolonged period of decline for many years.

Following the unusual fluctuations in its share price, on May 29th, Thaiholdings had to send a written explanation to the State Securities Commission and the Hanoi Stock Exchange (HNX).

There is no insider information affecting the stock price.

In its explanatory document, Thaiholdings stated that all of the company's production and business activities are proceeding normally and no events have occurred that significantly affect the company's operations.

At the same time, the company asserted that there was no undisclosed insider information that could potentially impact the stock price on the market.

According to Thaiholdings, the sharp increase in THD shares recently is the result of objective supply and demand relationships among investors and is beyond the company's control.

The sharp rise in stock prices also pushed Thaiholdings' market capitalization up to nearly 57 trillion VND , equivalent to almost 2 billion USD . In just over a month, the company's market capitalization increased by tens of thousands of billions of VND.

The liquidity of THD shares has also improved significantly compared to the previous period. While months ago, the trading volume per session only fluctuated around a few thousand shares, recently it has increased to tens of thousands of units, and in some sessions even recorded transactions of up to hundreds of thousands of shares. However, considering the overall market, THD's liquidity is still considered "meager".

What kind of business does Thaiholdings engage in?

Thaiholdings, formerly Kinh Thanh Investment and Development Joint Stock Company, was established in 2011 and is closely associated with the name of businessman Nguyen Duc Thuy. In 2016, the company officially changed its name to Thaiholdings and expanded its operations into finance, real estate, and investment.

THD's stock price surged dramatically. Photo: TradingView.

Over the years, Thaiholdings and its affiliated entities have been involved in developing numerous large-scale projects such as the nearly 352-hectare Enclave Phu Quoc integrated resort complex in Phu Quoc, the Kim Lien hotel complex project at 5-7 Dao Duy Anh Street, Grade A office buildings at 17 Tong Dan and 210 Tran Quang Khai Street, and the ThaiSquare Caliria complex on Cat Linh Street in Hanoi.

Mr. Nguyen Duc Thuy previously served as Chairman of the Board of Directors of Thaiholdings from 2011 to 2020. By mid-2022, he completed the divestment of all 87.4 million THD shares, equivalent to 25% of the company's charter capital. It is estimated that this transaction brought him approximately 3,356 billion VND .

After leaving Thaiholdings, Mr. Thuy shifted his focus to the finance and banking sector. He left his mark on the restructuring of LPBank as Chairman of the Board of Directors. In early March this year, he continued to attract attention when he was appointed General Director of Sacombank and currently holds the position of Permanent Vice Chairman of the Board of Directors at the bank.

In fact, THD is not an unfamiliar name to investors. After listing on the HNX in mid-2020, the stock experienced a period of rapid growth.

From a price of just a few tens of thousands of dong, THD soared to its historical peak of approximately 277,000 dong per share at the end of 2021, representing an increase of nearly 14 times in just over a year. At its "golden age," Thaiholdings was once the largest capitalized company on the HNX exchange with a market value exceeding 80,000 billion dong .

However, since 2022, the stock has entered a prolonged correction cycle amidst a sharp decline in the stock market, shrinking liquidity, and significant pressure on the real estate sector. By April 2025, THD's share price had fallen to a low of around 25,000 VND/share, losing more than 90% of its historical peak value.

Thaiholdings to hold extraordinary meeting

Notably, the sharp increase in THD's share price occurred amidst the company's continuous announcements of new information related to its future development plans.

At the end of May, the company announced a resolution of the Board of Directors regarding the convening of the first extraordinary General Meeting of Shareholders in 2026.

According to the plan, the last registration date for shareholders to exercise their right to attend the general meeting is June 16th. The meeting is expected to be held in Hanoi; the specific date will be announced later by the company.

One of the most notable items expected to be presented to shareholders is the plan to increase the charter capital. In addition, the general meeting will also consider several other issues within its authority.

Simultaneously, the market is also seeing high expectations regarding the development plan for an exceptionally large-scale complex by Thaigroup Corporation - a company in which Thaiholdings currently holds a 48% stake.

According to published information, Thaigroup is planning to develop a tourism, sports , and entertainment complex spanning over 1,000 hectares in Ninh Binh province with a total estimated investment of approximately 128,000 billion VND , equivalent to nearly 5 billion USD . The project is expected to commence construction at the end of 2026.

The most prominent feature of the complex is the FIA-standard Formula 1 racetrack, approximately 6 km long per lap. Alongside it is an international football academy operating on a training model from Spain and Japan.

According to preliminary plans, the project also includes a system of 15,000-20,000 hotel rooms, luxury resorts, and many large-scale commercial, service, and entertainment facilities. The complex was designed by two international architectural consulting firms, Populous and Skidmore, Owings & Merrill.

According to the company's calculations, the project could contribute more than 35,000 billion VND in land use fees to the State budget during its implementation.

In a related development, the Board of Directors of Thaiholdings recently approved the establishment of Loc Truong Phat Construction and Trading Company Limited with a charter capital of 28 billion VND . The new company will be 100% owned by Thaiholdings and will be headquartered in Xuan Thanh urban area, Hoa Lu ward, Ninh Binh province.

Loc Truong Phat operates in the field of construction finishing, residential construction, and civil engineering projects. Ms. Do Thi Trang is appointed as the Chairwoman and legal representative of the company.

Regarding business results, the Q1/2026 financial report shows that Thaiholdings recorded net revenue of VND 239 billion , an increase of 9% compared to the same period last year. After-tax profit reached approximately VND 30 billion , an increase of nearly 15%.

In 2026, the company aims for net revenue of VND 967 billion and after-tax profit of VND 91 billion , both lower than the previous year's performance. After the first three months of the year, Thaiholdings has completed approximately 25% of its revenue plan and nearly 33% of its profit target for the whole year.

Source: https://znews.vn/chuyen-gi-dang-xay-ra-voi-co-phieu-thaiholdings-post1656156.html