The year 2024 has concluded with challenges but also opened up opportunities amid significant global economic changes and positive economic recovery in Vietnam. THACO has continued to solidify the position in its core businesses, while also expanding investments and upgrading management to ensure its 5-year plan (2023-2027) aimed at sustainable development, delivering customer value, and contributing to the national economy.

THACO has been paying attention to its management streamline and upgrade program, laying the foundation for its multi-industry development and the business strategies of its Sub-holdings.

In Automotive: In 2024, THACO AUTO maintained its leading position in the domestic automobile market with nearly 91,000 vehicles sold, including over 72,700 passenger cars and nearly 18,300 trucks and buses, capturing 32% market share. The company also exported more than 1,100 vehicles, earned service and parts revenues across workshops exceeding 4,400 billion VND and parts distribution surpassing 2,800 billion VND. THACO AUTO developed new-generation THACO buses and a new lineup of THACO trucks, applied passenger car retail models within THISO's commercial centers, integrating and complementing operations of other THACO’s Sub-holdings.

In 2025, THACO AUTO aims to produce and sell a full range of vehicles (trucks, buses, passenger cars, and new energy vehicles) under both international and THACO brands, meeting Vietnam infrastructures and the specific needs of customers. THACO AUTO expects to sell over 100,000 vehicles, including more than 83,000 passenger cars and over 26,000 trucks and buses. The firm will also carry out second-hand passenger cars trading and export over 4,000 vehicles. Service and parts revenue from workshops is expected to exceed 5,400 billion VND, and parts distribution revenue to surpass 3,500 billion VND. Additionally, a new automotive R&D center with modern equipment will be established to enhance product research and development capabilities, meeting the specific requirements of customers. The company will also accelerate the digital transformation across its retail system and manufacturing plants to ensure integrated management and optimal resource utilization.

In Agriculture: In 2024, THACO AGRI invested in large-scale, industrial organic-integrated/circular agriculture (crop and livestock production) across Vietnam, Laos, and Cambodia. In 2024, THACO AGRI planted over 2,200 hectares of bananas, raised over 111,000 cattle (including breeding, semi-grazing, and fattening cattle), and cultivated nearly 5,300 hectares of fruit trees (durian, mango, grapefruit, etc.). It also raised 85,000 pigs (breeding and meat pigs) and produced 89,000 tons of animal feed. THACO AGRI's consolidated revenue exceeded 2,000 billion VND.

In 2025, THACO AGRI will implement a large-scale, industrial-integrated, and circular organic farming strategy. This includes applying mechanization, biotechnology, and digitization in agriculture. The company plans to plant over 10,000 hectares of bananas, a 4.5-fold increase from 2024. Additionally, the firm will raise nearly 255,000 cattle, including breeding and beef cattle, and cultivate nearly 9,300 hectares of fruit trees such as durian, mango, and grapefruit. It will also manage nearly 200,000 pigs and produce 167,000 tons of animal feed. THACO AGRI's consolidated revenue is expected to exceed 8,200 billion VND.

In Mechanical Engineering and Supporting Industries: In 2024, THACO INDUSTRIES launched new manufacturing plants for high-end automotive glass, car body components, automotive electrical equipment, and a modern R&D center. These facilities are to support THACO AUTO's localization strategy and meet customization demands domestically and internationally, boosting export market supply. THACO INDUSTRIES' consolidated revenue reached nearly 10,800 billion VND, with exports accounting for nearly 130 million USD.

In 2025, with a focus on large-scale, regional-level centralized production models through industry-standard and international collaborations, THACO INDUSTRIES will organize its business and management activities under the principle of "combination and specialization," spanning the entire value chain: business - research & development (R&D) - production - delivery. THACO INDUSTRIES is projected to achieve nearly 13,700 billion VND in revenue in 2025, with over 7,500 billion VND (more than 55%) coming from external partners. Export revenue is expected to reach 225 million USD, focusing on the North American, Australian, and European markets.

In Investment and Construction: In 2024, THADICO completed the lighting project for Ba Son Bridge in Ho Chi Minh City, handed over the expanded and upgraded Chu Lai port to THILOGI, and commenced dredging the existing Ky Ha channel in Quang Nam. The firm also developed infrastructure at THACO Thai Binh Industrial Park (194 hectares), continued infrastructure work at the Automotive Mechanical Industrial Park (243 hectares), and the Chu Lai Port and Logistics Industrial Park (143 hectares). Additionally, it completed and handed over the R&D center and new manufacturing plants to THACO INDUSTRIES.

In 2025, THADICO will focus on investing, constructing, and managing transportation infrastructure, industrial parks, urban areas, and real estate projects. These projects aim to create competitive advantages for THACO and its Sub-holdings. THADICO plans to complete four projects and start 15 new ones to develop THISO's commercial center system from 2023 to 2027. They will also launch five commercial real estate projects on THACO's existing land.

In Commerce and Services: In 2024, THISO introduced new F&B models, including Besoverse Cosmic Cafe, inspired by the robot BESO, and Hong Kong Red Junk Restaurant at Thiso Sala. THISO's total revenue for 2024 reached 5,784 billion VND, with a projected revenue of 6,265 billion VND for 2025.

In 2025, THISO will implement a strategy to effectively manage and operate various types of real estate (mixed-use complexes, single-use real estate, residential real estate) and retail & service models in line with current trends. THISO will accelerate the development of its commercial center complex projects in Hanoi and in southern Vietnam provinces, with operations expected to commence in 2026.

In Logistics: In 2024, THILOGI completed and put into operation the second berth at Chu Lai port, capable of receiving 50,000-ton ships with a high-capacity specialized container crane system. The company invested in transporting trucks and developed cost-effective transportation solutions. THILOGI transported nearly 9,800 containers of fruits and agricultural materials. It provided domestic shipping services for over 42,800 containers and nearly 37,000 containers internationally. The total cargo throughput at Chu Lai port exceeded 4 million tons, with consolidated revenue reaching nearly 3,400 billion VND in 2024.

In 2025, THILOGI will implement a strategy to develop Chu Lai port into an international logistics hub, connecting northern Cambodia, southern Laos, the Central Highlands, Quang Nam, and neighboring areas to the Chu Lai port.

THILOGI plans to transport nearly 27,900 containers of fruits and agricultural materials in two-way trade, and more than 93,500 containers on domestic and international sea routes. The total cargo volume through Chu Lai port is estimated to reach 5.5 million tons, with a consolidated revenue target of nearly 4,900 billion VND.

Dear leaders, shareholders, partners, customers, and all employees,

Since its establishment, THACO has contributed over 222,500 billion VND to the state budget. In 2024 alone, the contribution was nearly 23,700 billion VND. For 2025, THACO plans to contribute a total of 26,500 billion VND to the state budget, an increase of 11.7% compared to 2024.

In addition to its business activities, THACO has actively engaged in social initiatives. In 2024, THACO sponsored community activities with a total amount of over 200 billion VND. Notable programs included the "Eliminating Temporary and Dilapidated Houses" initiative, the "Fund for the Needy" of the Vietnam Fatherland Front in 58 provinces and cities nationwide, educational programs and scholarships (such as "Road to Mount Olympia" and "Scholarships for Underprivileged Female Students"), cultural and sports activities (such as the Ho Chi Minh City International Film Festival, the Civil Servants' Football Championship, and the Vietnamese Youth and Student Football Tournament).

Entering 2025, the third year in its 5-year plan (2023-2027), THACO continues to pursue a multi-industry strategy and is committed to continuous innovation, improving product and service quality, and contributing to the sustainable development of the country.

THACO will continue to streamline and upgrade its management to enhance the "Integration and Complementarity" among its Sub-holdings, viewing this as a strategically important characteristic to form a sustainable development ecosystem that brings value to customers and society. Aiming for 2027, THACO focuses on streamlining and upgrading management, refining the management model of a large-scale multi-industry industrial corporation, successfully implementing digital transformation, emphasizing training and development, and fostering a spirit of dedication and contribution among employees to grow with THACO and contribute to the country's development.

On the occasion of the New Year 2025, on behalf of the Board of Directors and all employees of THACO, I would like to extend my best wishes for a prosperous, healthy, and successful new year to leaders, shareholders, partners, customers, and employees and your families!
Sincerely yours,

THACO Chairman

 

  

Tran Ba Duong