Set this year's net profit target to increase eight times
According to the 2024 Annual General Meeting of Shareholders meeting documents scheduled to take place on June 29, NAVICO (Nam Viet Corporation, stock code ANV-HoSE) sets a revenue target this year, it will reach 5,000 billion VND, an increase of 13% compared to the level realized in 2023. Meanwhile, profit after tax is expected to be 8 times higher, reaching 306 billion VND.
In 2023, Navico's net profit reached 39 billion VND, the lowest level in 7 years, completing 21% of the set profit target. Mr. Doan Toi, General Director of Navico, said that although the company's number of orders is not small, profits recorded less positive results due to high-cost prices.
Currently, many financial institutions assess that this year's business prospects for Nam Viet Seafood will be more positive when pangasius export prices are expected to recover in the context of increasing demand and decreasing supply.
Notably, in the US market, Navico continues to be an enterprise that enjoys anti-dumping duties of 0% (according to POR 19). In addition, Navico's leadership said that the company has successfully cooperated with large seafood distributors and reconnected with old customers thanks to its history of exporting to the US in the previous period.
Navico's customer base is mainly existing customers of the two leading exporters to the US, Bien Dong Seafood and Vinh Hoan Joint Stock Company (stock code VHC), but there is a need for partial diversification suppliers with more competitive prices.
For the Chinese market, Nam Viet Seafood is also recording many possible results thanks to expanding new customer files in Beijing and Guangzhou, in addition to the traditional area of Shanghai. At the same time, after market research, Navico has expanded the product line of spiced butterfly pangasius, meeting the high demand in China.
In addition, with the advantage of 100% autonomy in raw fish, the company has resolved the shortage of large-sized pangasius (1.5–2 kg); this is also the most popular fish size in China.
In the domestic market, after the cooperation deal with Bach Hoa Xanh in March 2023, Nam Viet Seafood product lines were considered to have higher recognition and are easily accessible to domestic consumers.
According to a recent forecast by Vietcombank Securities, revenue from the domestic market of Nam Viet Seafood this year could increase by up to 63% compared to 2023.
Maintaining the position of the second-largest pangasius processing enterprise in the world
The Board of Directors of Navico said that the company is currently a pangasius production and export enterprise with the second largest closed production chain in the world, including 250 hectares of traditional farming areas, helping to supply up to 120,000 tons of raw fish per year, and 600 hectares of high-tech farming areas invested since 2018, helping to provide up to 250,000 tons of raw fish per year.
Also, according to the leadership of Navico, the company owns 20,000 pairs of broodstock capable of producing 14 billion fingerlings. With a feed factory with a designed capacity of 800,000 tons per year, Nam Viet Seafood is capable of providing 100% of the feed for the company's 150-hectare fish breeding area.
At the same time, the company is also operating four seafood processing factories with a total processing capacity of up to 1,200 tons of raw fish per day and has fully achieved ISO, Global GAP, HACCP, IFS, BRC, GMP, and HALAL.
At this year's Congress, Navico is expected to submit to shareholders a plan to increase capital by issuing 133.1 million shares to existing shareholders at a ratio of 1:1, equivalent to a shareholder owning 1 share. shares will receive one new share.
This plan was approved by Nam Viet Seafood shareholders at the 2023 Annual General Meeting of Shareholders. However, because the company has not yet implemented it, it continues to be presented at this year's general meeting.
If this offering is successful, Nam Viet Seafood will earn about 1,331 billion VND. Therefore, increasing the company's charter capital to VND 2,666 billion would double the current level. At the same time, it helped Navico become the pangasius enterprise with the largest charter capital on the stock market.
(vasep.com.vn) In the first seven months of 2026, Vietnam’s pangasius exports to the United States reached US$189 million, down 8% year-on-year. In July alone, export value reached US$22 million, down 28%. This trend indicates that U.S. demand for pangasius imports has remained relatively cautious this year, as importers tend to maintain moderate inventory levels and limit stockpiling.
(vasep.com.vn) After three days at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City, the Vietnam International Fisheries Exhibition – VIETFISH 2026 – has successfully concluded, leaving a strong impression in terms of scale, visitor numbers, the quality of business connections, and innovative activities. With more than 14,000 m² of exhibition space, 335 companies, 568 booths, participation from representatives of 17 countries and territories, and nearly 15,000 visitors, VIETFISH 2026 has once again affirmed its role as an important meeting point for Vietnam’s and the global seafood industry.
(seafood.vasep.com.vn) Held as part of Vietfish 2026 from August 19–21 at SECC in Ho Chi Minh City, a series of five specialized seminars provided the seafood business community with updates on markets, technology, standards, human resources and cooperation opportunities. With the participation of experts, international organizations, government agencies and businesses from Vietnam and abroad, the seminars created an additional platform for professional exchange alongside the exhibition’s product showcases and business networking activities.
(seafood.vasep.com.vn) On the morning of August 19, 2026, the Vietnam International Seafood Exhibition – VIETFISH 2026 officially opened at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City. With 568 booths representing 335 companies, alongside the presence of senior government officials, local authorities, diplomatic missions and international partners, VIETFISH 2026 kicks off three days of business networking, technology exchange and market engagement under the overarching theme “Innovation and Sustainability.”
The Vietnam Association of Seafood Exporters and Producers (VASEP) officially announces that the Vietnam International Seafood Exhibition (Vietfish 2026) will take place from August 19–21, 2026, at the Saigon Exhibition and Convention Center (SECC), Ho Chi Minh City.
(seafood.vasep.com.vn) Vietnam’s seafood exports recorded strong growth in the first half of 2026, but the performance was increasingly uneven across products, markets and enterprises. VASEP’s newly released premium report provides the detailed data and analysis needed to understand what lies behind the headline figures and prepare for the more challenging months ahead.
(seafood.vasep.com.vn) Brazil remains one of the key markets for Vietnamese pangasius in South America. However, exports to the market showed signs of slowing in the first half of 2026, while frozen pangasius fillets continued to account for the overwhelming majority of exports.
(seafood.vasep.com.vn) Marking 27 years of supporting Vietnam’s seafood industry, the Vietnam International Seafood Exhibition (VIETFISH 2026) will officially return from August 19–21, 2026, at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City, on its largest scale ever. Under the core theme “Innovation – Sustainability,” the event promises to provide a comprehensive picture of the transformation of Vietnam’s seafood industry toward greater value addition and sustainable development.
(seafood.vasep.com.vn) With less than three weeks remaining, the Vietnam Fisheries International Exhibition – Vietfish 2026 will officially take place from August 19–21, 2026, at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City. Under the theme "Innovation – Sustainability," Vietfish 2026 will provide a comprehensive networking platform for seafood businesses, buyers, distributors, industry experts, government agencies, and domestic and international visitors.
(vasep.com.vn) As part of the Vietnam Fisheries International Exhibition – Vietfish 2026, the technical seminar “Green and Sustainable Technology Solutions for the Aquaculture and Seafood Processing Value Chain” will take place from 09:30 to 11:45 on August 20, 2026, at Convention Room B, Level 2, SECC, Ho Chi Minh City. The seminar is jointly organized by VASEP, the Department of Fisheries and Fisheries Surveillance, and the Royal Norwegian Embassy in Vietnam, focusing on technological innovation and sustainable transformation across Vietnam’s seafood value chain.
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