The Evolution of Kido’s Retail Empire: Unveiling the Vision Beyond Hùng Vương Plaza and Vạn Hạnh Mall

Kido Group Joint Stock Company (KDC, HoSE: KDC) has just announced the completion of the first phase of the transaction, acquiring a 40.05% stake in Bac Binh Construction Investment Joint Stock Company – the operator of Van Hanh Mall. As a result, this company has become an associate of Kido.

According to our information, Bac Binh Construction Investment Joint Stock Company was established in October 2007 and initially operated as an LLC.

As of July 2023, Bac Binh Investment Construction LLC increased its charter capital from VND 200 billion to VND 278 billion. The controlling shareholder at that time was Mr. Tran Le Nguyen – CEO of Kido Group, holding 57.88% ownership.

The remaining shareholders included: Ta Thien Nga holding 20.95%, Trang Thi Bao Tran holding 2.1%, Trinh Hieu Tu holding 7.35%, and foreign shareholder Golden Sands Capital Corporation holding 11.66%.

In November 2023, the enterprise changed its form to a joint-stock company as it is today, maintaining a charter capital of VND 278 billion. Mr. Luong Quang Hien (DOB: 1967) holds the position of General Director and legal representative.

Van Hanh Mall, one of the largest and most famous shopping centers in Ho Chi Minh City, located in District 10, has been operating since 2018. It boasts a total construction area of 90,000 square meters, with 55,000 square meters of commercial space featuring many well-known brands.

Mr. Tran Le Nguyen, born in 1968, graduated with a degree in Business Administration from the University of Economics, Ho Chi Minh City.

In addition to his role at KDC, Mr. Tran Le Nguyen is also the Chairman of Tuong An Vegetable Oil Joint Stock Company, a member of the Board of Directors of Kido Real Estate Joint Stock Company, and Kido Frozen Food Joint Stock Company.

Apart from Van Hanh Mall, Mr. Tran Le Nguyen also invested in Hung Vuong Plaza, which has now been acquired by Kido.

In another development, Kido also announced the completion of the transfer of 11.5 million shares, equivalent to 50% of the charter capital of Dabaco Food Joint Stock Company (Dabaco Food). This transaction was finalized as the second-quarter report of 2025 recorded the full transfer according to contract number 2706/2025/HDCN/KDC-TVH signed on June 27.

In terms of business results, in the second quarter of 2025, Kido recorded net revenue of VND 2,020 billion, up 18% over the same period last year.

Financial revenue increased sharply by almost three times to VND 127 billion, and other profits contributed VND 45 billion, a surge compared to the low level in the same period. As a result, Kido reported a post-tax profit of VND 143 billion, 14 times higher than the second quarter of 2024.

For the first six months of the year, Kido recorded revenue of VND 4,166 billion, an increase of 18%. Due to the loss in the first quarter, the net profit for the first half was VND 75.5 billion, still double that of the same period last year.

In 2025, the food group set a target of VND 13,000 billion in revenue and VND 800 billion in pre-tax profit. By the end of the first half of 2025, KDC had achieved 32% of the revenue target and 13% of the profit target.