Enterprise

Anticipated Catalysts for MCH Stock Post HOSE Listing

Hailed as the "missing piece" of Vietnam's stock market, MCH shares are taking center stage ahead of their upcoming transfer to the HOSE. With the advantages of the transfer, coupled with a favorable macroeconomic backdrop and strong corporate fundamentals, analysts are confident in Masan Consumer's explosive growth in 2026 and beyond.

Administrator

5 December, 2025

Why Does Chairman Nguyen Dang Quang Consider MCH a “Crown Jewel” for Masan Group?

On the afternoon of December 4, 2025, Masan Consumer Corporation (Masan Consumer, UPCoM: MCH) hosted a roadshow themed “MCH Listing on HOSE and the Growth Story.”

By 2030, MCH aims to own 16 billion-dollar brands.

Mr. Truong Cong Thang, CEO of Masan Consumer

Opening the event, Mr. Truong Cong Thang, CEO of MCH, introduced the MCH stock code with a logo featuring an upward curve, symbolizing the ambition to go global.

Mr. Thang shared that from its humble beginnings in 2002 with simple products, Masan Consumer has grown into a FMCG giant with four core business pillars: Seasonings, Convenience Foods, Beverages, and Personal Care. These are the areas where Masan Consumer is steadily asserting its position to compete in Vietnam and expand globally.

Mr. Thang described the company’s market penetration strategy as a journey into the consumer’s home. Starting with the “Kitchen” through seasonings and dry foods, then moving to the “Living Room” with indulgent products like tea, coffee, and snacks. Next, conquering the “Bathroom and Bedroom” with personal and household care products. Finally, and most importantly in the next 5-10 years, is the “Out of Home” market, catering to the dynamic lifestyles of the younger generation. He emphasized the ambition to proactively bring Vietnamese culinary excellence and lifestyle to the world, rather than passively waiting for foreign trends.

Mr. Thang highlighted the company’s mission has evolved significantly, from the goal of “One Masan product in every household,” achieved five years ago, to the new vision of “One Masan product for every individual.”

Financially, Mr. Thang proudly shared the company’s ability to generate sustainable growth alongside high profitability. The company maintained a compound annual growth rate of 20% in after-tax profit from 2022 to 2024 and paid out $1.5 billion in cash dividends from 2018 to 2024.

By 2030, MCH aims to own 16 billion-dollar brands. Building on the foundation of five brands currently generating over $100 million annually, such as Chin-su, Nam Ngư, and Omachi, the company is nurturing 11 other potential candidates to reach this milestone. Mr. Thang affirmed that Masan Consumer will not invest indiscriminately but will focus on leading large segments, prioritizing actions to optimize value for shareholders and consumers.

Ms. Le Thi Nga, Deputy CEO of Research and Development

Sharing the secret behind superior products, Ms. Le Thi Nga, Deputy CEO of Research and Development at Masan Consumer, revealed that 1,200 new products were launched from 2002 to 2024, with a success rate of 20% (four times the Asian FMCG industry average). These innovations contributed 20% to total revenue from new products between 2017 and 2024, clearly demonstrating the strategy of leveraging innovation for growth.

Ms. Nga emphasized that only advanced technology can optimize raw material and production costs. MCH focuses financial resources on features consumers truly value, cutting out waste, and securing essential raw materials to control both cost and quality. This is the secret behind MCH‘s consistently higher profit margins compared to industry averages.

MCH also boasts the “Retail Supreme” model, integrating the manufacturer (Masan Consumer) with the retail system (WinCommerce). With a network of 3,500 WinMart/WinMart+ stores, MCH tests new products directly with consumers, measuring real purchasing behavior to refine products before nationwide launch. Thanks to this model, while other companies take 24-36 months to develop new products, Masan Consumer achieves this in just 6-12 months.

Financially, Mr. Huynh Viet Thang, Chief Financial Officer, shared that Masan Consumer closed 2024 with impressive revenue of $1.2 billion. The contribution breakdown shows a diverse and robust product ecosystem: 66% from food, 23% from beverages, 7% from household care, and 4% from international markets. The compound annual revenue growth rate from 2017 to 2024 was nearly 13%.

Gross profit margins have consistently remained high, at around 45-46%. This ideal margin level plays a crucial role, providing ample financial resources for MCH to reinvest, build brands, develop distribution networks, and attract top talent. After deducting operating and investment costs, MCH retains 23% net profit for dividend payments. This strong cash flow enables the company to fulfill its commitment to shareholders, paying out 80% of par value in dividends from 2018 to 2024.

Multiple Catalysts Await MCH Stock Post-Listing

From an investment perspective, Mr. Hoang Nam, Director of Analysis at Vietcap Securities, noted that upon listing, MCH will immediately become the 7th largest company by market capitalization and the largest consumer goods stock. MCH will be a focal point for investors in the coming period.

According to Mr. Nam, observing the top 10 largest stocks currently shows they are pillars of the economy but overly concentrated in banking and real estate. MCH‘s listing on HOSE will offer investors a rare opportunity to allocate significant capital into the essential consumer goods sector. For foreign investors, this is a valuable addition to portfolios lacking large-scale consumer representatives.

Mr. Nam believes multiple catalysts await this stock post-listing. Assuming MCH lists in December, within six months, the stock will qualify for margin trading. When a quality stock gains leverage, it attracts massive market capital. MCH is likely to be included in major indices like VN30 after six months and by September 2026, in large ETF baskets like VNM ETF or FTSE.

Historical data over the past five years shows that when stocks move from UPCoM to HOSE, liquidity typically surges. Average trading values of transferred stocks have increased by 200% within six months. Alongside liquidity growth, stock prices often trend positively due to increased capital inflows.

However, Vietcap views MCH as a company with both short-term capital catalysts and sustainable long-term growth driven by macroeconomic factors. The young demographic of Vietnam, with 50% of the population in the youth bracket, tech-savvy and highly internet-connected, provides a strong foundation. Additionally, Vietnam’s urbanization rate remains low, with most people still in rural areas, and incomes are entering a new growth phase. These macroeconomic factors are a solid launchpad for MCH‘s strategies, such as product premiumization, category diversification, and the Retail Supreme revolution.

The move to HOSE will unlock three major capital streams previously restricted on UPCoM: first, margin trading for individual investors; second, passive ETF capital as the stock enters indices; and third, active fund capital seeking large consumer representatives. Combined with favorable macro conditions and strong internal capabilities, Mr. Nam is confident in Masan Consumer’s explosive growth in 2026 and beyond.

Cat Lam

– 10:12 05/12/2025