‌The business targets for consolidated net revenue and net profit after tax (NPAT) in 2026 of MWG are as follows:
Unit: billion in VND | 2026 targets | Growth compared to 2025 |
Consolidated net revenue | 185.000 | +18% |
Consolidated NPAT | 9.200 | +30% |
(*) The company will submit the official business plan for approval at the Annual General Meeting of Shareholders.
Macroeconomic background: The Government targets double-digit economic growth in 2026, driven by accelerated infrastructure investment, multi-sector economic development, and stimulating consumer demand. While ongoing global trade tensions remain a risk that could pressure exports, employment, and domestic purchasing power, MWG remains proactive in strengthening its internal resilience to mitigate risks and capture growth opportunities.
Quality-led growth focus: 2026 marks the beginning of MWG's 2026 - 2030 strategic phase, representing a full shift toward "quality-led growth," building on the foundation of the "Reduce Quantity - Enhance Quality" restructuring initiative in 2024 -2025. Moving forward, the Company will prioritize operational excellence and upgrading customer experience in the new consumption era. As its retail segments continue to scale, store expansion will be strictly selective to uphold sustainable profitability.
Sustainable retail ecosystem: MWG's competitive advantage lies in its end-to-end ecosystem, covering physical stores, e-commerce channels, the Super App, as well as in-house warehousing, logistics, delivery, installation, and after-sales services. This allows the Company to control service quality at every customer touchpoint and respond quickly to omnichannel demand.
Technology and AI adoption: MWG is accelerating the use of AI/ML across forecasting, procurement, distribution, merchandising, and automated systems to reduce costs, improve labor productivity, and enhance operational efficiency. The combination of Big Data and AI enables deeper customer insights, supporting personalized experiences and stronger customer engagement with the Company's brands.
Responsible business and governance: Beyond financial goals, MWG prioritizes sustainable development through active emissions reduction, resource protection, and the promotion of a diverse, equitable workplace. The Company maintains transparent and ethical governance, fosters an "ownership mindset" throughout the organization, while continuously reinforcing its customer-centric service culture. For partners, MWG emphasizes operational efficiency and stability as the core pillars for enduring, mutually beneficial partnerships.
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‌Technology products & consumer electronics retail segment - Dien May Xanh Investment Joint Stock Company (DMX) operates thegioididong.com, Topzone, Dien May Xanh, EraBlue chains, and Dien May Xanh Technician ("Tho Dien May Xanh").
In 2026, DMX will remain MWG's core growth pillar, expected to contribute around 65% of total revenue and approximately 80% of total profits.
DMX targets positive growth, with revenue up 15% and net profit up 20% year-on-year, continuing its dominant position in Vietnam's mobile phone and consumer electronics retail market. This performance is supported by a proven business model refined over 20 years of operations.
The Company's strategic priorities for 2026 include:
Quality-led growth: A decisive shift toward "quality" across all areas to deliver more value and superior customer experiences, optimize operational efficiency, create mechanisms that foster an ownership mindset among employees, and work closely with partners to share results and work through challenges together for sustainable growth.
Full product lifecycle services: Transitioning from a pure retail model to providing peace of mind and lifetime product value through a flexible integrated service chain covering sales, financing, warranty, maintenance, and upgrades. This strategy enables DMX to build strong customer trust and become the top-of-mind brand for technology and consumer electronics needs.
Dien May Xanh Technician - a "weapon" to ensure customer commitments: Leveraging strong nationwide execution capabilities with a workforce of thousands of skilled technicians, ensuring standardized, professional repair and maintenance services. Beyond its internal support role, Dien May Xanh Technician is being developed into a multi-service platform serving the repair needs of tens of millions of households across Vietnam.
Super App development: Upgrading "Qua Tang VIP" loyalty application into a central hub connecting the entire ecosystem. This will become a core digital platform to personalize consumption behavior, integrate after-sales services and financial solutions, and deliver a seamless, consistent, and customer-centric shopping experience.
Breakthrough in international markets with EraBlue: Continuing aggressive store network expansion and executing the IPO roadmap before 2030 for the joint venture. As the leading consumer electronics retailer in Indonesia by revenue, EraBlue aims to open more than 300 stores and achieve approximately 30% revenue growth in 2026.
Governance enhancement and listing roadmap: The Company has defined a roadmap to become a public and listed company to unlock new capital and resources for its next growth phase. As an independent listed company, DMX aims to offer high-quality assets to the stock market, meeting the needs of institutional and individual investors seeking a long-term growth company with an attractive cash dividend policy.
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‌Food and FMCG Retail Segment - Bach Hoa Xanh (BHX) chain:
In 2026, BHX is expected to contribute around 30% of MWG's revenue and approximately 20% of total profits.
After a period of investment and development, BHX began making a solid profit contribution to MWG from 2025 onwards.
The Company's strategic priorities for 2026 include:
Targeting revenue growth of over 20%, while continuing to gain market share and improve profitability. Growth will be driven by optimizing revenue from existing stores, alongside plans to open around 1,000 new stores across existing regions and new provinces.
Uncompromising food safety standards for fresh food categories to protect consumer health and strengthen customer loyalty. For FMCGs, the focus will be on a good-quality product assortment at competitive prices to become the customers' preferred shopping destination. BHX is positioned as a trusted "Neighborhood Minimarket - Value for Money" chain.
BHX will continue to upgrade its online shopping experience to ensure simplicity and convenience for modern, time-sensitive consumers.
Achieving the 2026 business targets will be an important milestone in BHX's IPO and listing roadmap, and a key step toward its long-term vision of
USD 10 billion in revenue.
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Pharmaceutical and Healthcare Retail Segment - An Khang pharmacy chain:
After a restructuring period, the Company has returned to a disciplined and selective expansion phase, focusing on the "quality" of each pharmacy. An
Khang's direction is to become a "trustworthy and caring" pharmacy chain, with a clear focus on customer health and well-being.
In 2026, An Khang plans to open around 100 new pharmacies, targets 30% revenue growth, and expects to begin contributing profits to MWG.
Mother & Baby Products Retail Segment - Avakids chain:
With stable profitability proven in 2025, Avakids enters 2026 targeting continued growth, with revenue expected to increase by 20% and profit by 30%.
Avakids' development direction is to become an online retailer of mother and baby products, in alignment with modern consumption trends. Online channels will drive over 60% of total revenue, with the physical store network serving a dual purpose as brand-building showrooms and essential offline sales channels.
