Mr. Nguyễn Anh Đĩnh, Project Director at TNH Hospital, has registered to purchase an additional 6 million shares of TNH, aiming to increase his ownership stake from 0.09% to 3.7%, equivalent to over 6.15 million shares if successful. The transaction is expected to take place between November 5 and December 4.
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At TNH, Mr. Đĩnh has no related parties or family members holding separate shares. He first became a TNH shareholder in mid-2024 when he registered to buy 1 million shares but only completed 10% of the intended volume, equivalent to a transaction of over 2 billion VND. At that time, he cited unfavorable market conditions as the reason for not purchasing the full amount. According to the Q3/2025 financial report, Mr. Đĩnh earned 330.2 million VND in the quarter, averaging over 110 million VND per month.
On the HOSE market, TNH shares rose slightly to 13,300 VND per share on the morning of November 3. Based on this price, Mr. Đĩnh’s acquisition of 6 million shares would be valued at approximately 80 billion VND. This buying activity comes as TNH is experiencing a positive trading week, with a nearly 10% increase; however, over the past year, the share price has dropped by nearly 19%, with average liquidity below 500,000 shares per day.
| TNH Share Price Performance Over the Past Year |
Company Reports Fourth Consecutive Quarterly Loss, Debt Surges to 1.5 Times Year-Start Levels
Contrasting with the share price movement, in Q3/2025, TNH recorded a net loss of nearly 21 billion VND, reversing from a profit of over 9 billion VND in the same period last year. This marks the fourth consecutive quarter of losses for TNH, bringing the total net loss for the first nine months to nearly 75 billion VND, compared to a profit of nearly 63 billion VND in the same period in 2024.
| TNH Quarterly Business Results for 2023-2025 |
Q3 revenue reached nearly 146 billion VND, up 32%, bringing total nine-month revenue to 362 billion VND, a 9% increase year-on-year. However, gross profit margins declined sharply to around 8-9%, significantly lower than the 30-40% range pre-2024, due to a sharp rise in production costs. Additionally, financial expenses, entirely comprising interest payments, remained a significant burden, totaling over 34 billion VND in nine months, more than triple the same period last year.
For the first time since its establishment, TNH has reported a cumulative nine-month loss, falling far short of its 2025 full-year profit target of 31 billion VND, while revenue has only reached 58% of the plan.
Costs Surge Due to Hospital Expansion, Financial Pressure Mounts
In the first nine months, selling expenses nearly tripled to over 5 billion VND, and corporate management expenses doubled to over 53 billion VND, primarily due to a sharp increase in personnel costs. TNH attributed the cost increase to the newly operational hospital, which has led to additional personnel expenses, fixed asset depreciation, and marketing costs.
By the end of September 2025, TNH’s total debt had risen to over 995 billion VND, more than 1.5 times the year-start level. This includes a long-term loan of 760.5 billion VND from MB – Thai Nguyen Branch and a short-term loan of nearly 200 billion VND from BIDV – Thai Nguyen Branch.
In contrast, bank deposits fell by 38% to just over 34 billion VND, while inventory increased by 1.5 times to nearly 23 billion VND, with over 80% comprising medicines, medical supplies, and chemicals. Construction in progress costs nearly doubled to 549 billion VND, primarily from the TNH Lang Son Hospital project (403 billion VND, or 73%). This project is led by the subsidiary CTCP TNH Lang Son Hospital and has not yet generated revenue.
Due to cost fluctuations and increased borrowing, TNH’s net cash flow from operating activities shifted from a positive 49 billion VND in the same period in 2024 to a negative 800 million VND. As of the end of Q3, undistributed after-tax profit plummeted to below 26 billion VND, compared to over 100 billion VND at the beginning of the year.
– 11:28 03/11/2025
Unveiling the Lender Behind Cuong ‘Do La’s Company’s Billion-Dollar Loan
Quoc Cuong Gia Lai JSC has secured significant financial support through loans from key individuals closely associated with the company. Specifically, the company borrowed 507 billion VND from Ms. Lai Thi Hoang Yen, the daughter of QCG’s Chairman, Mr. Lai The Ha. Additionally, Mr. Lau Duc Duy, the brother-in-law of Mr. Nguyen Quoc Cuong (known as Cuong ‘do la’) and the CEO of QCG, provided a loan exceeding 527 billion VND.
QCG’s Soaring Loans from Leadership Affiliates: Repayment of VND 900 Billion to Sunny Island Completed
In the first nine months of 2025, Quoc Cuong Gia Lai settled a VND 900 billion payment to Sunny Island for the Bac Phuoc Kien project. Concurrently, the company significantly increased its borrowings from affiliates of its leadership.
Hospital Leadership Aims to Acquire 6 Million TNH Shares
Mr. Nguyen Anh Dinh, Project Director of TNH Hospital, has recently registered to purchase 6 million TNH shares with the aim of increasing his ownership stake.
Textile Firm Reports Record-Breaking Q3 Profits, Stock Surges to All-Time High
As of September 30, 2025, cash, cash equivalents, and deposits surged to nearly 2.0 trillion VND, marking a remarkable 29% increase compared to the beginning of the year.
Vietnamese Private Conglomerate Surpasses $43 Billion in Assets
Billionaire Pham Nhat Vuong’s Vingroup boasts a staggering total asset value exceeding 1 quadrillion VND, reporting a remarkable 1.9x surge in profits compared to the same period last year.
