The movie “MAI” directed by Tran Thanh is creating a frenzy at cinemas in Vietnam during the Lunar New Year. Over the past few days, the film has broken multiple records that a Vietnamese film can achieve. According to data from Box Office Vietnam – the unit that tracks box office revenue for the local film market, the film has earned over 381 billion VND as of February 20. This total revenue includes advance ticket sales for upcoming screenings.
According to Box Office Vietnam, on February 14 alone, “MAI” reached its peak revenue with over 4.3 billion VND, achieving a 72% occupancy rate, a record unprecedented in Vietnamese film history.
As the third film directed by artist Tran Thanh, “MAI” has become the Vietnamese film with the highest first-day box office revenue of all time, and it has surpassed the previous record holder “Nha Ba Nu” in becoming the fastest Vietnamese film to reach 300 billion VND in box office revenue.
The main cast of the film “MAI”.
The production company behind the film making waves in Vietnamese cinemas is Tran Thanh Town Co., Ltd. According to research, this company was established in May 2020, with its headquarters at 54 Street No. 2, Him Lam Residential Area, Tan Hung Ward, District 7, Ho Chi Minh City. The company’s main business is film production, video film production, and television program production.
According to information on the Business Registration Portal, the company had an initial charter capital of 8 billion VND, with Tran Thanh holding 80% of the shares, and the remaining shares held by Ms. Huynh Uyen An – Tran Thanh’s younger sister. The legal representative and Chairman of Tran Thanh Town is Mr. Huynh Tran Thanh, also known as artist Tran Thanh.
Although Tran Thanh Town was established recently, it has already set records in the Vietnamese film industry. The company is the production house of two highest-grossing films in the history of Vietnamese cinema, “Nha Ba Nu” (475 billion VND) and “Bo Gia” (427 billion VND).
Based on our data, with such successful productions, Tran Thanh’s company has a high net profit margin. In 2022, Tran Thanh Town’s net revenue reached 37 billion VND, a decrease of over 73% compared to the same period last year. After deducting expenses, the company’s net profit was 24.7 billion VND, a decrease of over 78.4%. However, the net profit margin of the company is still at 67%. In previous years, Tran Thanh Town had a net profit margin of over 70%, which means nearly 7 dong of net profit for every 10 dong earned.
Previously, in 2021, Tran Thanh Town’s net profit reached 114.5 billion VND, a significant increase compared to the 1.6 billion VND achieved in 2020. 2021 was also the year the company released the film “Bo Gia”.
On the balance sheet, the company’s total assets as of the end of 2022 were 66 billion VND, a steep decrease of 60.2% compared to the beginning of the year. In terms of capital structure, the liabilities amounted to 34.8 billion VND, a decrease of 17.1% from the beginning of the year, while the equity capital was 31.2 billion VND, down 75%.
