CEO Rang Dong: In 2026, target revenue of 6,500 billion VND
Thanh Thuy
19:29 | 30/05/2026
(TBTCO) - Instead of a hot growth target, the company's leadership prioritizes maintaining cash flow in the "storm". However, Rang Dong Light Bulb and Thermos Company still expects to maintain a 50% dividend this year.
On the afternoon of May 30, Rang Dong Light Bulb and Thermos Joint Stock Company (stock code: RAL) held its 2026 Annual General Meeting of Shareholders with the participation of shareholders and authorized representatives representing 88.35% of total voting shares.
2025: Many challenges but continued 50% dividend
Reporting at the meeting, Mr. Nguyen Doan Ket - Vice Chairman of the Board of Directors, Deputy General Director said that Rang Dong recorded net revenue in 2025 of 6,360 billion VND, pre-tax accounting profit of 413 billion VND and after-tax profit of over 361 billion VND. After-tax earnings per share (EPS) reached 15,336 VND.
Compared to the plan, revenue exceeded by 4.3% and profit exceeded by 4.6%. According to business leaders, 2025 and the first months of 2026 were a period of particularly complex market developments as the global economy was affected by geopolitical conflicts, trade wars, inflation and global supply chain disruptions.
Among them, there are three extremely challenging risks threatening Rang Dong's development. First is the "great flood" of cheap imported goods, especially from China with high robotics and automation capabilities, extremely fast delivery times. Second is the rapid pace of change in technology, AI, IoT and control devices. Along with that, the rapid development of e-commerce and new business models are changing consumer behavior and putting pressure on traditional distribution systems. Market pressure is increasingly fierce when in 2025, about 234,000 businesses nationwide ceased operations, equivalent to an average of 19,500 businesses per month. In the first 4 months of 2026 alone, the number of businesses withdrawing from the market averaged 27,300 businesses per month, an increase of about 1.4 times over the previous year.
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| The annual general meeting of shareholders of Rang Dong Light Bulb and Thermos Joint Stock Company approved all proposals - Photo: TT |
Sharing at the meeting, Mr. Nguyen Doan Thang - General Director of Rang Dong said that in more than 62 years of work, he has never witnessed a period as difficult as the present. "With the above three risks, if not careful, we would not have today's general meeting of shareholders. Although there are still many desires that have not been met, overcoming them is a great joy," Mr. Thang said.
The company's leadership also said that they have outlined 7 strategic breakthroughs in the 2025-2030 term. In particular, the enterprise is focusing on digital transformation of two factories producing electronics and glass - thermoses, transforming the business model from a traditional pipe model to a digital business model...
Despite many difficulties, Rang Dong maintains a policy of high cash dividend payment. According to the profit distribution plan approved by shareholders, Rang Dong plans to pay cash dividends at a rate of 50% of charter capital for the 9th consecutive year, paid in two installments: 25% in September 2026 and the remaining 25% in April 2027.
2026 still difficult, Hoa Lac project expected to be operational in 2028
| In the storm, if you are too eager to push revenue high, it can easily lead to a situation of "kite breaking string". Instead of chasing hot growth numbers in an unstable market, Rang Dong's top priority now is to maintain cash flow, ensure the livelihoods of more than 2,500 workers, and invest deeply in science and technology.#### General Director Nguyen Doan Thang |
Moving into 2026, Rang Dong sets a revenue plan of 6,500 billion VND and pre-tax profit of 400 billion VND. The revenue target increases slightly, while the profit plan is lower than the previous year's performance.
According to General Director Nguyen Doan Thang, this is a cautious approach in the context of 2026 forecast to be more difficult than 2025. "In a big storm, too much ambition can easily become a kite breaking its string," Mr. Thang shared at the meeting when explaining the business plan set for 2026.
The business leadership said that input cost pressure is still very high. However, the enterprise has made efforts to control cost of goods sold by reducing material consumption, increasing labor productivity and promoting automation.
At the meeting, the company also updated the progress of using capital from the 2021 share offering. Accordingly, Rang Dong raised over 1,011 billion VND through issuing more than 10.87 million shares. As of March 4, 2026, the company had disbursed about 957.9 billion VND for the project "Factory producing high-tech electronic products integrating green, smart LED lighting ecosystem" at Hoa Lac High-Tech Park. The unused capital remaining is about 53.3 billion VND.
Updating on the progress of the Hoa Lac project, Mr. Thang shared a difficulty for this project currently being the sharp increase in construction costs compared to the estimate period of 2023-2024. Material prices, labor and construction costs have escalated, making many contractors no longer interested in large-scale construction contracts.
The human resource problem is also a major challenge. The trend of labor movement to localities is increasingly clear, while bringing the workforce to Hoa Lac requires significantly more attractive income and working conditions. According to the current plan, the enterprise will focus on removing obstacles in the period 2026-2027 and strive to start moving to Hoa Lac from 2028.
Regarding the existing land at 87-89 Ha Dinh, Mr. Thang said that the enterprise has no policy to develop residential real estate projects due to population density pressure not supported by the City. Instead, Rang Dong converts this land area into an Innovation Center.
According to the orientation revealed at the meeting, the Ha Dinh area will focus on R&D centers for lighting, digitization, business models and digital operations; while maintaining the international standard measurement laboratory system and the group's executive office.
At this year's annual general meeting of shareholders, shareholders also approved many important proposals related to related party transactions with Gia Loc Phat Joint Stock Company, supplementing new business lines. All proposals were approved at the meeting./.
Thanh Thuy
