At the 2025 Annual General Meeting of Shareholders, Mr. Phan Anh was appointed to the Board of Directors, replacing Mr. Do Tan Vu, who had previously submitted his resignation. Since the beginning of March, L40 has completed the formation of its new Board, comprising Chairman Do Tan Cuong and members Mr. Bui Do Linh, Mr. Tran Viet Thang, Mr. Dinh Van Xuan, and Mr. Phan Anh.
In parallel with the changes to the Board of Directors, the Supervisory Board has also undergone a comprehensive restructuring. Three new members, Mr. Tran Van Hung (Chairman of the Supervisory Board), Mr. Phan Thanh Hung, and Mr. Nguyen Le Duy, were elected to replace the previous members, Ms. Nguyen Thi Hoa, Ms. Le Thi Thuy, and Mr. Duong Van Vang.
 Source: VietstockFinance
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The changes in senior personnel coincided with significant shifts in the shareholder structure. Notably, Mr. Do Tan Cuong, the new Chairman of the Board of Directors of L40, became a major shareholder after purchasing 720,000 shares in the company during the trading session on March 7, acquiring a 20% stake. In the same session, Mr. Dinh Van Xuan, a member of the Board of Directors, bought 541,000 shares, equivalent to a 15% stake. As a result, Mr. Bui Do Linh is currently the only member of the Board who does not hold any shares in L40.
Another notable development is that Mr. Tran Van Hung, the new Chairman of the Supervisory Board, sold 60,000 shares on April 23, reducing his ownership stake to 17.33% after initially purchasing 684,000 shares in the company during the session on March 7, representing a 19% stake.
Currently, the largest shareholder of L40 is Mr. Bui Trung Thu, who holds a 22.79% stake. He is followed by Mr. Do Tan Cuong, Mr. Tran Van Hung, and Mr. Dinh Van Xuan.
| L40’s First-Quarter Financial Results Over the Years |
Following a year of robust performance, L40’s first-quarter 2025 results fell short of expectations. The cost of goods sold nearly offset the entire net revenue of over VND 40 billion, causing net profit to plunge by 96% compared to the same period last year, reaching a meager VND 14 million. With a target of VND 301 billion in total revenue and VND 35 billion in after-tax profit for the year, the company has achieved less than 1% of its profit target in the first quarter.
| L40’s Stock Price Movement from the Beginning of 2024 to May 8, 2025 |
In contrast to the lackluster financial results, L40’s stock price has exhibited a strong upward trend since the beginning of the year, rising over 20%. This has been accompanied by a significant improvement in liquidity.
L40 Changes Ownership: Brothers Join the Board and Immediately Seal a Billion-Dollar Deal
– 11:15 08/05/2025
The Stock Market Buzz: Euphoria Starts to Build
Risk appetite from the buyers has been increasing significantly, immediately shifting the way orders are placed and the selected price zones. Today’s market still witnessed volatile swings, but they were all in the green zone and became more exuberant towards the end.
