28 - 10 - 2024
On October 24 at the Sheraton Hotel in Hanoi, Vietnam Report JSC, in collaboration with VietnamNet e-newspaper, officially hosted the announcement ceremony for the Top 500 Most Profitable Enterprises in Vietnam (PROFIT500) for 2024. Representing the Board of Directors, Mr. Tran Cong Quy, Vice Chairman, attended the ceremony and accepted the award on behalf of CNT Group.
Ranking highly in the PROFIT500 underscores CNT Group's strong position within Vietnam's economy and its business community (Photo: Mr. Tran Cong Quy, Vice Chairman, receiving the award at the event).
**CNT Group JSC - Top 500 Most Profitable Enterprises in Vietnam**
This year's announcement event successfully gathered representatives from PROFIT500 enterprises, the Top 50 Most Profitable Enterprises in Vietnam, along with leading economic experts. The occasion celebrated the outstanding achievements of companies over the past year and provided a valuable opportunity for leaders to network and share insights.
First introduced in 2017 by Vietnam Report and VietnamNet, the PROFIT500 rankings are based on independent, internationally recognized research and evaluations. Highly regarded by the business community, PROFIT500 plays a critical role in identifying and honoring companies that demonstrate high, sustainable profitability. Amidst the uncertainties and challenges of the global economy, the recognition of top-performing companies has garnered even more anticipation among enterprises, investors, and the public.
Notably, CNT Group joins industry leaders like CC1, Coteccons, and Tan Son Nhat Airport Services Company, securing a position in the Top 500 Most Profitable Enterprises in Vietnam for the fourth consecutive year.
Financial Stability
The PROFIT500 ranking evaluates companies based on a weighted scoring system, focusing on key metrics like pre-tax profit, revenue, and profitability ratios (ROA, ROE, ROR), alongside critical benchmarks such as media reputation and workforce size.
In 2024, CNT Group achieved an impressive ranking of 374 out of 500 in the national profitability standings and 210 out of 500 among the top private enterprises.
The recent period has been a challenging journey for Vietnam’s economy and businesses. In light of global economic and political fluctuations, weakened exports, slowed production, and stalling markets—including real estate and bonds—Vietnam’s economic growth has decelerated significantly since 2022. Widespread stagnation across sectors has eroded business resilience and significantly narrowed profit margins. Companies face weakened purchasing power, shrinking markets, and economic-political instability as the two biggest barriers impacting profits in recent years.
Vietnam's economic outlook in the first three quarters of 2024 has shown positive signals, marking a shift toward recovery with considerable improvement across multiple indicators. According to the General Statistics Office, GDP grew by 6.82% over the nine months—a relatively high rate compared to the same period in 2023. All three key sectors—agriculture, industry, and services—experienced robust growth, with positive economic restructuring. Exports grew substantially, contributing to a positive trade balance. Export value rose by 15.4%, imports by 17.3%, and the trade surplus reached approximately $20.8 billion. The services and tourism sectors also rebounded significantly, with international arrivals reaching over 12.7 million, a 43.0% increase.
Achieving a high position in the PROFIT500 list reinforces CNT Group's standing within Vietnam's economy and the business community.
Of particular note, CNT Group is among a select few companies without recorded debt, with cash deposits at banks reaching over VND 650 billion as of September 30, 2024. This substantial cash reserve provides the company with a strong foundation for future growth, particularly in a market challenged by liquidity issues and rising loan interest rates. This financial strength highlights CNT Group’s robust stability within the real estate industry.
Beyond its core focus on real estate, CNT Group also generates revenue and profit through its subsidiaries involved in materials trading, construction, building materials production, and various service sectors.
Breakthrough in Medium- to Long-Term Strategy for a Comprehensive Real Estate Ecosystem
With 43 years of development, CNT Group has made significant contributions to the socio-economic progress of each locality where it operates.
Positioning real estate as its primary business, the Group is currently revamping its brand identity and restructuring to execute a strategy for a comprehensive real estate ecosystem.
The PROFIT500 announcement ceremony is not only an important milestone celebrating outstanding enterprises but also serves as a foundation for strengthening relationships between the business community and investors. The event boosts brand recognition and elevates the status of Vietnamese enterprises among local and international investors.
CNT Group aims to establish itself as a professional real estate developer, focusing in the medium and long term on integrated urban complexes across major cities and provinces nationwide. In addition to existing land reserves in Ho Chi Minh City and Binh Dinh, CNT Group is actively pursuing M&A activities and developing new land reserves in Ha Tien City (Kien Giang), Buon Ma Thuot City (Dak Lak), Gia Nghia City (Dak Nong), Pho Yen City (Thai Nguyen), and other provinces, totaling approximately 2,000 hectares.
To realize its in-depth real estate development strategy and expand large-scale urban projects, CNT Group plans to establish a network of subsidiaries that create a closed-loop ecosystem covering Investment, Real Estate Development, Distribution, Services, Construction, Materials, and more.