Vinpearl Makes a Splash on HoSE, Surging Past Giants in Market Capitalization
The latest addition to the Vingroup ecosystem, Vinpearl (coded VPL), has officially begun trading on the Ho Chi Minh Stock Exchange (HoSE) with a bang. The share price of VPL skyrocketed to the maximum allowed limit in its first three trading sessions, soaring to 97,700 VND per share by the end of May 15th.
With over 1.79 billion shares in circulation, Vinpearl’s market capitalization has reached an impressive 175.2 trillion VND (approximately 7 billion USD). This valuation propels Vinpearl into the top 10 companies on the Vietnamese stock market by market cap, surpassing heavyweights such as Hoa Phat, VPBank, PV Gas, MB, Vinamilk, and ACB.
Billionaire Pham Nhat Vuong now boasts three companies in the top 10 by market capitalization on the Vietnamese stock exchange. As of the close of May 15th, the combined market capitalization of Vingroup, Vinhomes, Vinpearl, Vincom Retail, and VEFAC stood at a staggering 812 trillion VND, accounting for approximately 11% of the total market capitalization.
Vinpearl’s debut on the stock exchange has been a much-needed boost for the Vietnamese stock market, which had been lacking in new listings. The company’s impressive performance can be attributed not only to the market’s thirst for new offerings but also to the positive outlook for the hospitality industry in Vietnam.
According to VNDirect, Vietnam’s tourism industry is witnessing the strongest recovery in ASEAN, outpacing popular destinations like Thailand, Singapore, Indonesia, Malaysia, and the Philippines. VNDirect anticipates that the domestic market will reach a target of 130 million tourists by 2025, driven by the ongoing recovery in travel and consumer demand, the development of new tourist destinations catering to diverse preferences, and technological advancements that streamline booking and check-in processes.
Vinpearl is well-positioned to capitalize on the significant demand and growth potential in the hospitality industry. As a leading player in Vietnam’s tourism, hospitality, and entertainment sector, Vinpearl boasts a portfolio of over 45 hotels, resorts, amusement parks (VinWonders), and golf courses across the country, with prominent destinations including Nha Trang, Phu Quoc, Hoi An, and Ha Long.
The diversity and quality of these offerings have solidified Vinpearl’s reputation as a premium brand, attracting a vast number of domestic and international tourists. Furthermore, the company’s integrated “all-in-one” approach, which combines accommodation, entertainment, dining, and shopping, has created a unique appeal, solidifying Vinpearl’s pioneering position in the industry.
Financial Performance
In the first quarter of 2025, Vinpearl reported impressive financial results, with net revenue reaching 2,971 billion VND, a remarkable 76.6% increase compared to the same period last year. The company’s core business, encompassing hotel, tourism, entertainment, and related services, contributed 2,437 billion VND to this figure, marking a 45% year-over-year increase. Additionally, revenue from real estate activities stood at 535 billion VND. After-tax profit reached 90 billion VND.
For the full year 2025, Vinpearl has set ambitious targets, aiming for net revenue of approximately 14 trillion VND and after-tax profit of around 1,700 billion VND. With the results achieved in the first quarter, Vinpearl has already accomplished approximately 21% of its revenue target and 5% of its profit goal for the year.
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