VVS, established in 2010 in Hanoi with an initial charter capital of 1.8 billion VND, specializes in trading semi-trailers, tanker trucks, and refrigerated vehicles. The company’s capital has grown steadily, reaching 100 billion VND by 2015 and 205 billion VND by 2021. Alongside this growth, VVS has expanded its distribution network to over 25 branches nationwide.
The company directly imports medium and heavy-duty trucks, as well as specialized vehicles, from China through northern border gates. These vehicles are then distributed through its branch network and warranty stations. To further enhance market penetration, VVS has developed an additional dealer channel, capitalizing on the growing demand for transportation solutions.
VVS is an authorized dealer of Sinotruk, China’s third-largest truck manufacturer and owner of the HOWO brand. According to VVS, Sinotruk holds a consistent 30%-35% market share in Vietnam’s medium and heavy-duty truck segment, with VVS being a key distributor for many years.
VVS distributes Sinotruk’s HOWO-branded trucks – Image: VVS
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Over the past two years, VVS’s business results have accelerated significantly, driven by nationwide infrastructure investments. In 2024, the company reported a net profit of 68 billion VND, four times higher than the previous year.
This momentum continued in the first nine months of 2025, with profits reaching 170 billion VND, 2.7 times higher year-on-year. Management attributed this growth to surging demand for trucks as numerous key projects were launched and inaugurated across 34 provinces and cities on August 19, fueling transportation and construction needs.
Ownership is concentrated within the family of Chairman Nguyễn Vũ Trụ, who holds 44.7%, and his wife, Vice Chairwoman Nguyễn Thị Thu Huyền, who owns 10.3%.
CTCP M&A Holding Việt Nam, associated with Nguyễn Thanh Bình—the Chairman’s father-in-law and a Board member—holds 8.36%. Hoàng Thị Vân, the Chairman’s mother-in-law and also a Board member, owns 2.79%. As founding shareholders, the family group maintains controlling interest in the company.
 Mr. Nguyễn Vũ Trụ, Chairman of VVS – Image: Hanoiba
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By the end of Q3, VVS’s total assets surged to 5.2 trillion VND, more than doubling since the year’s start. This increase was primarily driven by payables to Sinotruk International (3.7 trillion VND) and collateral deposits for loans (3.3 trillion VND). In contrast, equity stood at approximately 500 billion VND.
In September, VVS established VMASS, a subsidiary with a charter capital of 50 billion VND in Hai Phong, focused on truck assembly. The company has deposited over 33 billion VND for a 10-hectare site to build an assembly plant with a projected investment of 1.3 trillion VND and a capacity of 10,000 vehicles annually.
Strong business performance has propelled VVS’s stock price. As of November 17, it closed at 66,500 VND, up 220% since mid-August and 350% year-to-date, with liquidity improving ahead of its HOSE listing.
| VVS stock price surges from mid-July |
– 18:30 17/11/2025
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