Business

Vietnam's oldest bicycle brand gears up for stock market debut

The Hanoi Stock Exchange (HNX) recently approved the listing of 23.7 million shares of TNV, owned by the Thong Nhat Ha Noi JSC, on the UpCom bourse.

Customers at a store of Thong Nhat Hanoi. (Photo: Thong Nhat FB)
Customers at a store of Thong Nhat Hanoi. (Photo: Thong Nhat FB)

Hanoi (VNS/VNA) - The Hanoi Stock Exchange (HNX) recently approved the listing of 23.7 million shares of TNV, owned by the Thong Nhat Ha Noi JSC, on the UpCom bourse.

The transaction value for these shares is 237 billion VND (9.3 million USD), priced at 10,000 VND per share.

Established in 1960 as the Thong Nhat Bicycle Factory, Thong Nhat Ha Noi has a rich history. Thong Nhat bicycles were once a beloved brand synonymous with generations of Vietnamese people.

As of June, ahead of the UpCom listing registration completion, major shareholders in Thong Nhat Ha Noi include the Hanoi People’s Committee, representing 45% of state capital, VSD Investment JSC with a 41.68% stake and Trinh Nguyen Khanh with 12.17%.

The iconic Thong Nhat brand saw consistent revenue growth from 2020 to 2023.

Revenues increased from 77.9 billion VND in 2020 to 100.5 billion VND in 2021. However, the company faced losses of 10 billion VND and 10.7 billion VND in 2020 and 2021, respectively, due to the impact of the COVID-19 pandemic.

By 2022, its revenue surged by almost 42% to 142 billion VND, with TNV returning to profitability at 13.7 billion VND. In 2023, revenue continued its upward trajectory, reaching 176.6 billion VND, although net profit decreased to 2.6 billion VND.

Last year, sports bicycle sales at the Thong Nhat Ha Noi JSC dropped by 50%, totalling around 12,000 units. Conversely, sales of children's bicycles saw a significant 140% increase year-on-year, with over 74,000 units sold./.

VNA
#Hanoi Stock Exchange #transaction value #revenue growth
Follow VietnamPlus

Post-pandemic recovery

Related News

Foreign investors at an event in the Hanoi Stock Exchange (HNX). ( Photo courtesy of HNX)

Foreign withdrawals not yet a concern for stock market

Foreign investors have been strongly net selling on the domestic stock market, focusing on many blue-chip stocks, putting pressure on the market's sentiment. However, this net selling and capital withdrawal by foreign investors is not yet a worrying trend.

See more

The opening ceremony of the 10th International Livestock, Dairy, Meat Processing and Aquaculture Exposition on May 20 (Photo: VNA)

ILDEX Vietnam 2026 showcases livestock, agri-food innovation

The three-day event is jointly organised by VNU Asia Pacific and Thailand’s ITEC, serving as a platform for business networking, technology exchange and knowledge sharing in the livestock, aquaculture and food industries in Vietnam and Southeast Asia.

Permanent Deputy Prime Minister Pham Gia Tuc and officials inspect the Gia Binh International Airport project on May 20, 2026. (Photo: VNA)

Gia Binh international airport project accelerated ahead of APEC 2027

Tuc described Gia Binh International Airport as a national key project requiring strict adherence to construction timelines, particularly as it is expected to be put into operation in time for the 2027 APEC Economic Leaders' Meeting. Several associated projects are also being implemented under special mechanisms to serve major national tasks.

Vietnamese Ambassador to the Republic of Korea Vu Ho speaks at the forum.(Photo: VNA)

Forum promotes Vietnam–RoK supply chain connectivity

Cao Thi Phi Van, Deputy Director of ITPC, said that after more than three decades of cooperation, Vietnam–RoK ties are shifting from traditional manufacturing cooperation towards mastering future-oriented technologies such as semiconductors, artificial intelligence (AI), digital finance, renewable energy and global supply chains.

Fitch Ratings gives positive assessment of Vietnam’s economic fundamentals (Illustrative image. Source: VNA)

Fitch Ratings gives positive assessment of Vietnam’s economic fundamentals

Deputy Minister Tran Quoc Phuong stressed that Fitch’s credit assessments have enhanced Vietnam’s image and credibility in international financial markets, and provided additional motivation for the country to continue improving institutions, strengthening policy management efficiency and increasing economic transparency.

Consumer purchases E10 biofuel at a PVOIL petrol station on Thai Thinh street in Hanoi. (Photo: VNA)

Hanoi strengthens oversight of transition to E10 biofuel

To ensure compliance with the transition roadmap, the Hanoi Market Surveillance Sub-Department has requested petrol traders to proactively review and upgrade storage tanks, fuel pumps and other technical conditions necessary for E10 distribution, thereby preventing disruptions to fuel supply serving consumption and production demands across the capital.

A Phu Tho civil servant guides a local how to switch from presumptive tax mechanism to tax sef-declaration. (Photo: VNA)

📝OP-ED: Vietnam’s tax reform: Fair play, not revenue squeeze

At a time when social media disinformation grows more sophisticated, transparency and public disclosure are the most potent counter to distortions. Facts, data and real-world results deliver the strongest rebuttal to attempts that twist reality and erode trust in tax administration reform.

Experts are expected to analyse opportunities for boosting exports and investment cooperation between Vietnam and South American countries at the coming seminar. (Illustrative photo: VNA)

Seminar on trade promotion in South American market to take place in Hanoi

A seminar on opportunities and challenges in developing the South American market will be held in Hanoi on May 28. It aims to provide updates on the economic outlook, market trends and import demand in South America, particularly in Argentina and Chile, amid continued fluctuations in global supply chains.