Company Insight

Mobile World Investment Corporation (HSX: MWG) is a leading retailer in Vietnam, offering an ecosystem that meets the diverse needs of customers. MWG maintains its position as the No. 1 mobile phone & electronics retailer in Vietnam (accounting for more than 50% of the total market); to be the consumer goods retailer, with the largest grocery store chain nationwide.

In 2025, MWG reported revenue exceeding VND 156 trillion (+16% YoY), driven by balanced growth across its retail chains. We expect business performance to remain robust in 2026, fueled by three key factors: (1) Bach Hoa Xanh optimizing its profit margins; (2) the ICT segment improving through a personalized customer experience strategy and the integration of product life-cycle services; and (3) other segments showing clear operational improvements. Based on FCFF and PS methods, we update the current target price at VND 105,900 – equivalent to the BUY recommendation with MWG ticker.