HCMC — CMC Corporation (HOSE: CMG) on June 1 started work on a US$300-million creative space complex in Hanoi City, marking its second major investment in innovation infrastructure.
The CMC Creative Space Hanoi (CCS Hanoi) project covers more than 11,000 square meters in the Tay Ho Tay urban area and has a 23-story office tower and a five-story data center. The facility is scheduled for completion and operation in the fourth quarter of 2027.
CMC acquired the project land from THT Development Company after the Hanoi City People’s Committee approved a change of investor in March 2023.
CCS Hanoi follows the company’s first creative space in HCMC, CCS Tan Thuan. Unlike its predecessor, which focuses on data infrastructure, CCS Hanoi will serve as an open artificial intelligence center named C.OpenAI, focusing on artificial intelligence, big data, cloud computing, and cybersecurity.
CMC targets employing more than 5,000 technology engineers at the new complex. Nguyen Trung Chinh, chairman of CMC, said the project aims to create an open, multi-layered innovation space to support rapid idea development and commercialization.
The construction of CCS Hanoi is part of CMC’s strategy to expand globally. The company is seeking to make US$1 billion in revenue by 2028, expand to 30 countries, and grow its workforce to 10,000.
Speaking at the groundbreaking ceremony, Prime Minister Pham Minh Chinh said the project would help advance Vietnam’s strategic goals in science and technology development.
CMC reported consolidated revenue of more than VND8.1 trillion in 2024, up 11% from the previous year. Net profit rose 3.8% to VND349 billion. The company’s gross profit margin remained at 18.2%.
As of March 2025, CMC had over VND2 trillion in cash and bank deposits. Its construction-in-progress spending totaled VND1.1 trillion, with nearly VND630 billion allocated to CCS Hanoi.
Closing the trading session today, June 2, CMG advanced 2.06% to VND34,650, with a trading volume of 973,200 shares.
Vietnam’s benchmark index closed higher on Monday, supported by gains in oil and real estate stocks, amid strong trading activity among mid- and small-cap shares.
The VN-Index rose 3.7 points, or 0.28%, to 1,336.3 points, with 201 advancers and 125 decliners on the Hochiminh Stock Exchange.
Market liquidity improved, with over 963.2 million shares worth VND20.84 trillion changing hands, up 4% in volume over the previous session. Block deals accounted for 60.86 million shares valued at VND1.3 trillion.
The VN30-Index, which tracks the 30 largest-cap stocks, remained almost flat, slipping less than one point to end at 1,423.04 points. VRE was the steepest decliner in the basket, dropping 2.9%. Its related stocks, VIC and VHM, narrowed earlier losses in the session to 0.41% and 0.77%, respectively.
In contrast, oil and gas stock PLX expanded its gains, closing 3.2% higher at VND35,600 per share. Other notable gainers included VJC, up 2.9%, STB, rising 2.7%, and GVR, improving 2.1%. Lender TCB contributed the most to the VN-Index, adding 0.7 point as it rose 1.3% to VND30,850.
Mid- and small-cap stocks remained the focus of the market, with several seeing heavy trading volumes, including VIX, NVL, VND, and DXG. Real estate stocks such as DIG, PDR, HQC, and LDG hit the daily ceiling price, while many others advanced over 5-6%.
Securities stocks also rallied strongly, led by VDS, which jumped 6.3%, followed by CTS with a gain of over 4.5%, FTS up 3%, and VND adding 4.1%.
The banking sector staged a modest recovery despite mild corrections in large-cap stocks such as VCB and BID. Gains were seen in TCB, up 1.3%, EIB and STB, both rising more than 2%, and OCB, advancing 3.3%.
SHB closed 1.1% higher at VND13,700, taking the lead by liquidity with nearly 56.2 million shares traded, while foreign investors net bought over seven million SHB shares.
On the Hanoi Stock Exchange, the market extended gains in the afternoon, driven by strong performance among HNX30 basket, which groups the 30 largest-cap stocks on the northern exchange.
The HNX-Index added 2.95 points, or 1.32%, to close at 226.17 points, with 97 winners and 76 losers. Trading volume reached more than 96.75 million shares valued at VND1.64 trillion.
