VIETNAM TELEVISION CABLE JOINT STOCK COMPANY

VIETNAM TELEVISION CABLE JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN TỔNG CÔNG TY TRUYỀN HÌNH CÁP VIỆT NAM) is one of Vietnam’s core players in the pay-TV and television content distribution market, operating under strong state ownership and closely linked to Vietnam Television. Established in 2012 and headquartered in Hanoi, the company plays a central role in subscription-based television services, content distribution, and transmission infrastructure nationwide.

The company operates as a joint stock company, listed on the UPCoM under stock symbol CAB, with Vietnam Television holding approximately 98.55 percent of the equity. This ownership structure places the company firmly within the state-invested media ecosystem, shaping both its strategic priorities and regulatory environment. Leadership is headed by Chairman VU H. T., with day-to-day operations managed by General Director BUI H. N.

From a financial perspective, Vietnam Television Cable shows signs of structural pressure common across traditional television and cable operators. By the end of 2024, total assets stood at roughly USD 73.9 million, while revenue declined to about USD 81.0 million, continuing a multi-year downward trend. Profit remained positive at approximately USD 0.9 million but has contracted sharply compared to earlier years, reflecting margin pressure and rising competition from digital and over-the-top streaming platforms.

A notable risk indicator is the company’s negative working capital, recorded at around USD –5.35 million, highlighting short-term liquidity pressure despite a still-solid equity base of approximately USD 25.6 million. With nearly 1,300 employees, the cost structure remains relatively heavy in an industry undergoing rapid technological and consumption shifts.

Overall, VIETNAM TELEVISION CABLE JOINT STOCK COMPANY remains a strategically important, state-backed media enterprise, but its declining revenue base, compressed profitability, and liquidity pressure underline the structural challenges facing traditional cable television businesses in Vietnam’s fast-evolving digital media landscape.