After a period of aggressive store network expansion, DMX has shifted toward a “quality growth” strategy focused on operational optimization, efficiency improvement, and the development of new growth drivers such as the Super App and EraBlue.

DMX is entering a new growth phase after completing its large-scale store expansion cycle. Instead of continuing to expand at all costs, the Company is now prioritizing operational optimization, cost control, and upgrading its store model toward a customer experience-driven approach. The model is transitioning from a display-and-storage format to one centered on consultation, product trials, and after-sales services. This strategy is expected to improve conversion rates, increase basket size, and strengthen customer engagement.

The streamlining of operations and enhancement of management capabilities have quickly translated into stronger business performance. In 2025, DMX recorded consolidated revenue of VND 109.479 trillion, up 17.3% year-on-year, while net profit reached VND 5,802 trillion, surging 56.1%. The Company has further set a 2026 net profit target of VND 7,350 trillion.

With a strategy of “not sacrificing profitability for growth,” DMX continues to maintain stable operating cash flow and strong free cash flow generation in the coming years. According to MBS Research forecasts, DMX’s free cash flow could reach nearly VND 6,877 trillion in 2026. Its strong internal financial resources enable the Company to reinvest in new growth engines without relying heavily on debt financing or large-scale external capital raising.

DMX is currently focusing on two strategic pillars: developing a Super App integrating consumption, financial, payment, and after-sales ecosystems, while simultaneously expanding the EraBlue chain in Indonesia, targeting 330 stores by 2026 and 500 stores by 2027.

Thanks to its strong financial autonomy, DMX can minimize dilution risks, protect earnings per share (EPS), and safeguard long-term shareholder interests.

In an environment where inflation remains around 3 - 4% and bank deposit rates offer stability but limited real wealth creation, growth stocks with strong cash flow are becoming increasingly attractive due to their ability to deliver both capital appreciation and recurring cash returns.

DMX commits to maintaining a minimum cash dividend payout ratio of 50% of net profit. During the 2021–2025 period, total dividend payouts accounted for approximately 70% of cumulative net profit. In 2025 alone, the cash payout ratio reached around 150% of net profit through the utilization of retained earnings.

Backed by a solid financial foundation and a “quality growth” strategy centered on operational efficiency, DMX remains well-positioned to sustain its minimum 50% cash dividend policy. At the same time, new growth drivers such as the Super App, Tho DMX, EraBlue, and financial services are expected to continue expanding the Company’s long-term growth runway, reinforcing DMX’s position as a sustainable growth stock with strong defensive characteristics for investment portfolios.

With a targeted compound annual net profit growth rate of 16%, aiming to achieve VND 13 trillion in net profit by 2030, DMX’s dividend scale is expected to continue expanding over time. This allows shareholders to benefit from both steadily growing cash returns and long-term capital appreciation potential.

Supported by sustainable cash generation from its core operations, DMX is regarded as a high-quality growth stock with strong defensive attributes. Historically, growth stocks combined with high dividend payouts have outperformed the broader market over the long term while demonst

According to Vietnam Investment Review