Jardine Cycle & Carriage invests billions in Thaco, Vinamilk, REE reports 23% decrease in net profit in the first half of 2025: The Vietnamese market shines, profit from REE increases nearly 50%

Jardine Cycle & Carriage (JC&C) announced its H1 2025 revenue at over $10 billion, up 1% year-on-year. Basic profit rose 6% to $529 million due to foreign exchange gains and lower financial costs. However, net profit dropped 23% to $371 million due to unrealized losses. The Vietnamese market contributed positively with $36 million in basic profit, a 17% increase, with REE contributing $10 million, up 48% year-on-year. Profits from Thaco and Vinamilk also increased by 10% and 4%, respectively. Thaco’s vehicle sales rose by 12% despite a 5% drop in market share. Additionally, JC&C made a significant investment in convertible bonds of Thaco, maturing in 2028.