Press Release: Listing Ceremony of Vietnam Machine Investment Development Joint Stock Company (VIMID) – Stock code: VVS

On October 7, 2022, Hanoi Stock Exchange (HNX) held the Listing Ceremony for Vietnam Machine Investment Development Joint Stock Company (VIMID), officially bringing 20.5 million shares under the stock code VVS into trading on the UPCoM market. The reference price on the first trading day was VND 14,500 per share, equivalent to a market capitalization of nearly VND 300 billion.

Vietnam Machine Investment Development Joint Stock Company (VIMID) was established on March 5, 2010, with an initial charter capital of VND 1.8 billion. The company’s primary business focuses on the import and distribution of brand-new medium and heavy-duty trucks manufactured by SINOTRUK/CNHTC. After five rounds of capital adjustment and restructuring, VIMID currently maintains a charter capital of VND 205 billion.

Official Listing of Vietnam Machine Investment Development Joint Stock Company (VIMID) – Stock codel: VVS

At the Listing Ceremony, Mr. Nguyễn Vũ Trụ, Vice Chairman of the Board of Directors and General Director of Vietnam Machine Investment Development Joint Stock Company (VIMID), shared:

“We are deeply honored and proud that VIMID has officially become a public company and been approved for trading on the UPCoM market. The approval of VVS for trading by the Hanoi Stock Exchange (HNX) marks an important milestone, demonstrating VIMID’s commitment to transparency and corporate governance. We believe that this listing will open up new opportunities for cooperation and help attract long-term strategic capital, allowing VIMID to continue investing in high-performance projects that contribute to the economic and social development of the country.”

Mr. Nguyễn Vũ Trụ – Vice Chairman of the Board of Directors and General Director of VIMID, delivered his remarks during the official listing and trading inauguration of VVS.

According to the Audited Financial Statements for 2021, the Company’s net revenue from sales and services reached VND 3,202.74 billion, nearly 2.5 times higher than that of 2020 (VND 1,321.85 billion), primarily driven by its automobile trading business.

As of June 30, 2022, the Company’s estimated revenue reached approximately VND 2,382 billion, representing an increase of around 67.06% compared to the same period in 2021. This reflects the Company’s strong growth momentum during the first half of the year and demonstrates that its business operations are in a period of robust expansion.

In parallel, the Company has been actively investing in expanding its nationwide branch network and 3S-standard service station network, as well as recruiting additional personnel to support its operational and business growth objectives in the new development phase. By the end of July 2022, VIMID had successfully expanded its network to a total of 22 branches and 3S service stations across Vietnam. The Company aims to reach at least 25 branches and stations by the end of 2022 and continue to expand further, positioning itself as one of the most extensive truck businesses in the country.

According to BOD’s estimation, when the 3S service stations network achieves full nationwide coverage – approximately one 3S station per 100 km, and the network operates stably and efficiently, each VIMID service station is expected to generate annual revenue of VND 200–300 billion and after-tax profit of VND 2–3 billion.

VIMID celebrated the official listing and trading of VVS on the UPCoM exchange.

With over 12 years of experience in the business and distribution of medium and heavy-duty trucks, supported by the expertise of its BOD and a workforce of professionally trained automotive engineers—both domestically and from SINOTRUK Group—Vietnam Machine Investment and Development Joint Stock Company (VIMID) has now become one of the leading enterprises in the 100% new medium- and heavy-duty truck market segment in Vietnam.

Since 2015, VIMID has consistently maintained its leading position in sales volume, after-sales services, and genuine spare parts supply. The company has continuously strived to achieve its strategic goals of system expansion, nationwide development of the 3S service station network, and continuous improvement in service quality and customer satisfaction.

Through relentless effort and commitment, VIMID has been officially recognized by SINOTRUK Group as the authorized representative for SINOTRUK’s service station network in Vietnam.

Driven by a pioneering vision and a strategy of sustainable growth, VIMID remains committed to innovation, technological advancement, and building a comprehensive transport ecosystem aimed at enhancing products and services, empowering customers’ success, and creating lasting value.

With a long-term vision, VIMID is determined to:

• 2021–2025: To become one of the Top 3 leading corporations in the production and business of heavy-duty trucks in Vietnam.
• 2026–2030: To become a leading industrial group in Vietnam and the region specializing in heavy-duty trucks integrated with artificial intelligence, robotics, and clean energy technologies.

VIMID operates with the mission of providing comprehensive transportation solutions to fully satisfy customers’ highest demands and enhance the value of Vietnam’s freight transport industry. The company is committed to delivering value and prosperity to its customers, shareholders, employees, and partners, while making positive contributions to the community.

The official registration of VIMID’s stock trading on the Hanoi Stock Exchange’s UPCoM market represents an important opportunity for the company to enhance share liquidity and ensure transparency in its financial and operational performance.

At the same time, this event marks a new milestone in VIMID’s business development, bringing VVS shares closer to investors, creating favorable conditions for capable and resourceful investors to participate, and contributing to the overall increase in the market capitalization of the transport industry on Vietnam’s stock market.