The HOSE listing carries significance beyond a purely technical milestone, enabling Masan Consumer to deepen its access to institutional and international capital flows. According to Vietcap’s assessment, following its official trading on HOSE, MCH could become the largest consumer stock by market capitalization within the VN-Index and rank approximately seventh among the largest listed companies across the Vietnamese equity market.
A leading platform underpins the HOSE listing milestone
Prior to receiving approval for listing on HOSE, Masan Consumer had already publicly outlined its transfer roadmap at a Roadshow held on December 4, 2025. The core message emphasized by the management team was not about market timing, but rather the continuation of a structured preparation process that has been underway since 2024. This process includes the standardization of governance, reporting, and operational systems in line with the higher requirements of Vietnam’s largest stock exchange.
Masan Consumer’s market position is built on a diversified portfolio of essential consumer products spanning seasonings, convenient foods, and beverages, with well-established brands such as CHIN-SU, Nam Ngư, Omachi, Kokomi, and Wake-Up 247. Its deep integration into everyday consumer life allows the company to maintain stable demand and a highly predictable business model-an important attribute for long-term investors.
In parallel, a nationwide distribution network encompassing hundreds of thousands of points of sale, combined with the WinCommerce retail ecosystem, provides Masan Consumer with a rare competitive advantage in coverage, speed-to-market, and the ability to capture real-time consumer feedback.
Retail Supreme and Consumer-Tech: pillars of long-term growth
Building on its strengthened operating platform, Masan Consumer is advancing its Consumer-Tech strategy, with Retail Supreme serving as the central pillar. As of November 2025, Retail Supreme had identified approximately 440,000 points of sale across 36 provinces and cities, directly distributing to 354,000 outlets. Of these, 254,000 outlets have become members, enabling direct interaction and order placement.
Early operating indicators point to tangible progress: the average number of store visits per sales representative has increased by approximately 20%, while the number of items per successful order has risen by 180% compared to the beginning of 2025. Notably, sales of new products at points of sale increased by 5% in November 2025 and continued to grow by an additional 11% by mid-December 2025 compared with the previous month.
These results suggest that the Consumer-Tech platform is gaining traction in practice, creating room for improvements in revenue growth, sales efficiency, and margin expansion over the medium to long term.
Operational efficiency has been consistently reflected in Masan Consumer’s financial performance. Over the 2017-2024 period, the company delivered a compound annual revenue growth rate of approximately 13%, while maintaining operating margins above 23%. During 2022-2024, net profit after tax recorded a compound annual growth rate of around 20%, highlighting an increasingly pronounced earnings momentum.
Alongside growth, Masan Consumer has maintained a stable cash dividend policy. From 2018 to 2024, the company distributed approximately USD 1.5 billion in cash dividends, underscoring its sustainable cash-generation capability and long-term value-sharing commitment to shareholders.
HOSE listing and capital market repositioning potential
The HOSE listing is not merely a technical transition, but also a gateway for Masan Consumer to engage more deeply with institutional and international investors. According to Vietcap, once officially trading on HOSE, MCH could become the largest consumer stock by market capitalization within the VN-Index and rank around seventh among the largest listed companies nationwide.
From an index perspective, Vietcap notes that MCH has met most of the requirements for consideration for inclusion in several major indices, including VN30, the MVIS MarketVector Vietnam Local Index (VanEck), STOXX Vietnam Total Market Liquid Index (Xtrackers), FTSE Vietnam 30, and FTSE Emerging Markets. For certain international indices, free-float capitalization or liquidity thresholds are not mandatory criteria, giving MCH a clear advantage immediately following its transfer to HOSE. For VN30 and STOXX Vietnam, liquidity requirements will need to improve over time-a common pattern observed among newly listed stocks on HOSE.
From a longer-term perspective, the move to HOSE aligns closely with Masan Consumer’s vision of “modernizing Vietnamese consumption.” A higher-tier listing enhances the company’s access to capital, enabling increased investment in R&D, new product development, supply chain standardization, and accelerated digitalization of its distribution system.
As these resources are deployed effectively, Masan Consumer not only reinforces its position as a leading consumer company, but also contributes to raising the overall standard of domestic consumer experience. MCH’s official trading on HOSE therefore represents not only a milestone for the company itself, but also adds to the market a large-scale, sustainability-driven consumer representative-an attribute increasingly valued by long-term investors as Vietnam’s capital market enters a new phase of development.