Rạng Đông Outperforms Điện Quang After Former Deputy Minister Hồ Thị Kim Thoa’s Scandal: Revenue 1/10, Losses in Hundreds of Billions While Competitors Soar

Bóng đèn Điện Quang (DQC) and Bóng đèn Phích nước Rạng Đông (RAL) have witnessed a stark contrast in their performance post-privatization. While RAL’s revenue tripled that of DQC in 2019, DQC is facing substantial losses and recorded only 1/10 of RAL’s revenue in 2024. RAL’s successful investment in LED technology and extensive distribution network has contributed to its soaring revenue of 8,357 billion VND in 2024, compared to DQC’s 819 billion VND. DQC is grappling with its first loss since being listed, reporting a pre-tax loss of 31 billion VND in 2023. Strategic differences and market positioning have led to a significant gap in profit and market capitalization, with DQC valued at only 1/10 of RAL.