2025 has been a challenging year for many businesses, especially in the passenger transportation industry. Volatile fuel prices and shifts in consumer behavior post-COVID-19 have put immense pressure on taxi operations.
Mai Linh Group, along with other transportation companies, has experienced revenue declines in key markets and has been grappling with optimizing operating costs and finding new business solutions in a highly competitive market.
Shareholders voting during the 2025 Annual General Meeting
According to the consolidated financial report of Mai Linh Corporation for 2024, the company achieved a gross revenue of VND 875.7 billion, with a pre-tax profit of VND 3.69 billion and an after-tax profit of VND 3.69 billion. These figures represent 87.57% and 12.30% of the annual plan, respectively.
The consolidated financial statements for 2024 showed a gross revenue of VND 1,343.33 billion, a pre-tax loss of VND 31.36 billion, and an after-tax loss of VND 43.08 billion. These results achieved 81.41% of the annual gross revenue plan but fell short with an after-tax loss of -71.81%.
While these results fall short of expectations, they also reflect the objective challenges faced by the transportation industry amid economic fluctuations. Mai Linh has chosen to focus on long-term strategies, investing in structural reforms and enhancing operational adaptability to navigate these difficulties.
We remain steadfast in our commitment to three key pillars: digital transformation as our core focus, customer service as our central priority, and restructuring to create new momentum for the enterprise. These are not mere short-term solutions but foundational steps towards sustainable development.
Mai Linh believes that with this foundation, the Group will swiftly overcome these challenges, seize new opportunities, and deliver increasing value to shareholders, customers, and society.
Shareholders attending the 2025 Annual General Meeting
Digital Transformation: Elevating Mai Linh’s Taxi Services
Digital transformation has been the central focus of Mai Linh’s activities in 2024 and remains a top priority in 2025. In our journey towards building a smart transportation ecosystem, we have deployed integrated technology platforms such as the Mai Linh ride-hailing app, the 1055 hotline, booking via Zalo, and multiple cashless payment options. These innovations provide customers with faster, more convenient, and user-friendly experiences.
A notable highlight is the implementation of the Contact Center On Cloud platform, a modern cloud computing solution that enhances call center efficiency, improves multi-channel interaction capabilities (via phone, messaging, social media, etc.), and reduces operating costs compared to traditional models. This solution not only optimizes customer care processes but also boosts the competitiveness of Mai Linh’s traditional taxi services in the digital era.
Beyond developing digital platforms, Mai Linh has also invested significantly in modernizing equipment in each vehicle, aiming for a comprehensive digital transformation of our operations. Specifically, we have equipped our fleet with the HHI-01 (STREAMAX) GPS and in-vehicle camera system, enabling real-time vehicle tracking and transparent journey recording for enhanced safety and transparency. Additionally, we have introduced new electronic meters with smart displays that directly connect to thermal invoice printers, allowing customers to easily verify and receive transparent invoices at the end of their trips.
Notably, the integration of RFID card readers in our vehicles has enhanced our driver management system, allowing only authorized individuals with valid cards to operate the vehicles. This marks a significant advancement in our operational governance and vehicle security. The system also supports connections with peripheral devices such as LED taxi lights and signal transceivers, contributing to the synchronized digitization of our entire fleet, transforming each Mai Linh taxi into a vital link in our intelligent transportation network.
Embracing Green Values: Mai Linh’s Commitment to Technology and Sustainability
Alongside our digital strategy, Mai Linh remains dedicated to sustainable and environmentally friendly practices through various “green transportation ecosystem” projects implemented nationwide.
In 2024, Mai Linh initiated plans to invest in electric vehicles, gradually replacing older models with eco-friendly alternatives. This strategic step in our green transformation roadmap aims to reduce COâ‚‚ emissions, enhance service quality and operational efficiency, and foster a long-term vision of a zero-emission transportation ecosystem.
Mai Linh remains dedicated to sustainable and environmentally friendly practices through various “green transportation ecosystem” projects.
The introduction of electric vehicles not only reduces fuel costs but is also viewed as an investment in the future, offering customers a quieter, smoother, and more modern travel experience, especially in major cities like Ho Chi Minh City, Hanoi, Thanh Hoa, and Quang Ngai.
Mr. Ho Huy, Chairman of the Board of Directors, shared, “We understand that we cannot continue with business as usual. Therefore, Mai Linh has embarked on a bold transformation, not just in technology but also in leadership thinking, governance models, corporate culture, and development orientation. With our vision of ‘Mai Linh Life – One Touch, Endless Services,’ green values will define Mai Linh’s new identity in the age of technology.”
Despite facing numerous challenges, the Mai Linh Group affirms that this is merely a transitional phase, necessary for entering a new cycle of more robust and sustainable growth. Our proactive approach to digital transformation, green transportation vision, and comprehensive restructuring demonstrate our resilience and long-term vision in navigating through these turbulent times.
Speaking at the General Meeting, the Chairman of the Board of Directors shared:
“I do not deny that the path ahead will be fraught with challenges. But the spirit of the ‘blue warrior’ – which has helped us overcome countless storms – will continue to be our inner strength, propelling Mai Linh forward. Challenges are the litmus test of a company’s mettle. Mai Linh recognizes the need to evolve to become stronger and go further, alongside our shareholders, customers, and community. We do not shy away from difficulties because we believe that genuine value and long-term commitment will always be recognized.”
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