TBD Replaces Director Under Investigation as Q3 Net Profit Rises About 89%
Vietnamese electrical equipment company TBD approved a board change on November 7, 2026, removing a director under investigation and electing a replacement. Third-quarter revenue rose nearly 90% year on year, while after-tax profit increased about 89%. Its market capitalization was approximately VND 3.068 trillion at the November 11 reference price.
A resolution released by Dong Anh Electrical Equipment Corporation JSC (ticker: TBD) shows that its extraordinary general meeting on November 7, 2026, removed Đặng Phan Tường from the board and elected Nguyễn Trọng Trung to the board for the 2026–2031 term. Đặng Phan Tường had previously been placed under criminal investigation by the Vietnamese Ministry of Public Security’s investigative police agency in a case involving the National Power Transmission Corporation, PC1 Group JSC and related entities.
Vietnam’s Ministry of Public Security is investigating the case. Investigations have been opened against 47 suspects over five categories of alleged offenses involving violations of bidding and accounting regulations, embezzlement, giving bribes and receiving bribes. Investigators said the violations involved 13 companies. Authorities have temporarily seized more than VND 45.8 billion and over USD 1 million, and frozen the suspects’ securities accounts, worth approximately VND 1.756 trillion in total, to facilitate asset recovery.
TBD primarily manufactures and supplies transformers and electrical equipment for power transmission and distribution systems. In the third quarter of 2026, consolidated net revenue exceeded VND 962 billion, up nearly 90% year on year; after-tax profit exceeded VND 53 billion, up about 89%. Average daily revenue for the quarter exceeded VND 10 billion. The after-tax profit margin was about 5.5%, close to the level a year earlier.
At the reference price of VND 63,100 per share on November 11, 2026, TBD’s market capitalization was approximately VND 3.068 trillion. Its shares trade on UPCoM with low trading volume.
Source: VietVance
