On September 29th, Kinh Bắc Urban Development Corporation, Kinh Bắc City (stock code: KBC), announced an unusual development: Hùng Vương University of Ho Chi Minh City (HVU) is no longer a subsidiary of the group. This decision was approved by KBC’s Board of Directors following the divestment of its entire stake in HVU.
Earlier in May, Kinh Bắc City ventured into the education sector by investing 110 billion VND in HVU, acquiring a 51.79% stake and making it a subsidiary.
Established in 1995, HVU is one of Vietnam’s earliest private universities, with four campuses in Ho Chi Minh City.
In the first half of 2025, Kinh Bắc reported revenue of over 3,691 billion VND, a 3.5-fold increase year-on-year, achieving 37% of its annual target. After-tax profit reached approximately 1,251 billion VND, a nearly 6.5-fold increase compared to the same period in 2024, fulfilling 39% of the year’s goal.
On May 21st, the Khoái Châu Urban, Eco-Tourism, and Golf Complex project (Trump International Hưng Yên) officially broke ground. Spanning nearly 1,000 hectares, the project has a total investment of nearly 39.8 trillion VND (over 1.5 billion USD). It is a strategic partnership between The Trump Organization, led by former U.S. President Donald Trump’s family, and Hung Yen Hospitality, a subsidiary of Kinh Bắc Urban Development Corporation.
