VICEM Cement Trading JSC

What VICEM Cement Trading JSC does

VICEM Cement Trading JSC (legal name: Công ty Cổ phần Vicem Thương mại Xi măng, ticker HNX:TMX) is a Vietnamese joint-stock cement trading and distribution company headquartered in Hanoi. The company operates as the commercial/distribution arm within the VICEM (Vietnam National Cement Corporation) state-linked conglomerate, sourcing Portland composite cement, masonry cement, and ready-mix concrete from four VICEM manufacturing plants — Hoàng Thạch, Bút Sơn, Tam Điệp, and more recently Hạ Long — and reselling them to construction contractors, infrastructure developers, distribution agents, building material retailers, and end consumers across Northern Vietnam (Hanoi, Thái Nguyên, Cao Bằng).

The company's underlying platform is a physical distribution network comprising eight river ports along the Đuống River and surrounding waterways (Đức Giang, Kim Lan 2, Phà Đen 3, Binh Đoàn, Hồng Vân, Chèm, Liên Mạc, Phúc Thọ) and two warehouses (Giáp Nhị, Vĩnh Tuy), supplemented by an e-commerce storefront at tmx.com.vn that supports multi-currency checkout. Products meet Vietnamese national technical standards (TCVN 6260:2020, QCVN 16:2023) certified by the Vietnam Institute of Building Materials, and select specialty masonry cements are produced to US ASTM C91 standards. The company holds Diamond-level distributor status with Vicem Hoàng Thạch.

Revenue is generated through a trading margin model — purchasing from VICEM group manufacturers and reselling to downstream channels — with FY2025 revenue of 500.334 billion VND on 454,002 tonnes sold, pre-tax profit of 6.055 billion VND, and a 3% dividend payout. The 2026 plan targets 512.218 billion VND in revenue and 460,000 tonnes in volume. Note: founding date is reported inconsistently across sources — firmographics state 1993, while company-history materials reference a 2021 copyright period for the current JSC structure, suggesting the entity was reorganized under its present joint-stock form in 2021 from a pre-existing VICEM commercial operation.

Name

VICEM Cement Trading JSC

Legal name

CÔNG TY CỔ PHẦN VICEM THƯƠNG MẠI XI MĂNG

Website

http://www.tmx.com.vn

Company type

Private

Founded year

1993

Operating status

Operating

Short description

VICEM Cement Trading JSC is a Hanoi-based cement trading and distribution subsidiary of Vietnam's state-linked VICEM conglomerate, sourcing from group plants (Hoàng Thạch, Bút Sơn, Tam Điệp, Hạ Long) and distributing Portland composite and masonry cements to contractors, distributors, and retailers across Northern Vietnam via a network of eight river ports and two warehouses.

Ownership category

akta.pro rank

Product category

Cement Trading and Distribution

NAICS

Cement Manufacturing (327310), Ready-Mix Concrete Manufacturing (32732)

SIC

Cement, Hydraulic (3241), Concrete, Gypsum & Plaster Products (3270)

akta.pro primary industry

Cement Manufacturing (Portland, Blended & Specialty) (IMADAAAG)

Keywords

• Cement trading
• Construction materials distribution
• Ready-mix concrete supply
• Port-based bulk logistics
• Building materials wholesale

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices12 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Cement Trading (Mua bán xi măng): The company purchases cement directly from VICEM manufacturing units (Hoàng Thạch, Bút Sơn, Tam Điệp, and Hạ Long) and resells/distributes to contractors, construction companies, retailers, and end consumers. Revenue generated from the margin between purchase and sale prices. 2025 sales volume: 454,002 tonnes, revenue: 500.334 billion VND.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

VICEM Cement Trading JSC purchases finished cement from VICEM's manufacturing plants (Hoàng Thạch, Bút Sơn, Tam Điệp, Hạ Long) and resells it through distribution agents, an e-commerce storefront, and a network of eight river ports and two warehouses to construction contractors, retailers, and end consumers across Northern Vietnam. Its portfolio spans Portland composite cement (PCB30, PCB40), masonry and specialty cements (MC25, C91), and ready-mix concrete.

Product overview

VICEM Cement Trading JSC is a cement trading company that distributes products from multiple Vicem factories including Hoàng Thạch, Bút Sơn, and Tam Điệp. The product portfolio consists of Portland composite cement (PCB) in various grades (PCB30, PCB40), masonry cements (MC25, C91), and specialized products (versatile, premium, plastering cements). Products are sold under three main sub-brands: Xi măng Hoàng Thạch, Xi măng Bút Sơn, and Xi măng Tam Điệp. The company also distributes fresh concrete (Bê tông tươi) alongside its cement products.

Differentiator

Problem solved

Functional benefit

Products and services

• Xi măng PCB30 Hoàng Thạch (Hoàng Thạch PCB30 Portland Composite Cement) Portland composite cement meeting TCVN 6260:2020 standards, popular in Northern Vietnam for general civil construction from foundation to roof, and transport and irrigation infrastructure.
• Xi măng PCB40 Hoàng Thạch (Hoàng Thạch PCB40 High-Strength Cement) High-strength Portland composite cement with high C3S and low C3A content, suitable for high-rise buildings, bridges, ports, and airports requiring rapid formwork removal and high compressive strength.
• Xi măng Hoàng Thạch MC25 (Hoàng Thạch MC25 Masonry Cement) Masonry cement with compressive strength of 25 N/mm² at 28 days, optimized for rendering and finishing applications with high plasticity and water retention.
• Bê tông tươi Hoàng Thạch (Hoàng Thạch Ready-Mix Concrete) Ready-mix concrete produced by Vicem Hoàng Thạch cement factory, used in key industrial and civil construction projects across Vietnam.
• Xi măng PCB30 Bút Sơn (Bút Sơn PCB30 Cement) Portland composite cement from Bút Sơn factory, suitable for all construction types including high-rise buildings, bridges, and hydroelectric projects.
• Xi măng PCB40 Bút Sơn (Bút Sơn PCB40 Cement) High-strength cement from Bút Sơn factory with high compressive strength, suitable for demanding structures including bridges, high-rises, and hydroelectric projects.
• Xi măng MC25 Bút Sơn (Bút Sơn MC25 Masonry Cement) Premium masonry cement optimized for mortar preparation with high plasticity, excellent adhesion, and water retention properties.
• Xi măng C91 Bút Sơn (Bút Sơn C91 Masonry Cement) Masonry cement meeting ASTM C91 Type M standard, specialized for plastering and rendering applications with superior workability, adhesion, water retention, and crack resistance.
• Xi măng Vicem cao cấp PCB30 Tam Điệp (Tam Điệp Premium PCB30 Cement) Premium Portland composite cement from Tam Điệp factory meeting TCVN 6260:2020 and QCVN 16:2023 standards, certified by the Vietnam Institute of Building Materials.
• Xi măng Vicem cao cấp PCB40 Tam Điệp (Tam Điệp Premium PCB40 Cement) Premium high-strength cement from Tam Điệp factory meeting TCVN 6260:2020 and QCVN 16:2023 standards, certified by the Vietnam Institute of Building Materials.
• Xi măng Đa dụng PCP40 Tam Điệp (Tam Điệp Versatile PCP40 Cement) Versatile Portland composite cement from Tam Điệp factory, suitable for all civil and industrial construction projects including high-rise buildings, bridges, ports, and airports.
• Xi măng Đa dụng PCP30 Tam Điệp (Tam Điệp Versatile PCP30 Cement) Versatile Portland composite cement from Tam Điệp factory meeting TCVN 6260:2020 and QCVN 16:2023 standards, suitable for civil construction from foundation to roof.
• Xi măng Xây trát cao cấp Tam Điệp (Tam Điệp Premium Masonry Cement) Premium masonry cement from Tam Điệp factory for plastering and finishing applications, manufactured to American ASTM C91 Type M standard with high fineness, workability, water retention, and crack resistance.

Quantifiable outcome

• Over 2,500 tonnes/month throughput at single Đức Giang port location
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered core, major and supporting.

• Vicem Hoàng Thạch (Vicem Hoàng Thạch Cement One Member LLC)coreTechnology or IntegrationVicem Hoàng Thạch is the primary cement manufacturing supplier. The company distributes Hoàng Thạch cement products (PCB30, PCB40, MC25, fresh concrete). It is recognized as a Diamond-level distributor, one of the top-tier distributors of Vicem Hoàng Thạch in the Hanoi market, with sales of over 2,500 tonnes/month at the Đức Giang port alone. The relationship has been longstanding, contributing significantly to VICEM's overall sales and profit plans.
• Vicem Bút Sơn (Vicem Bút Sơn Cement JSC)coreTechnology or IntegrationVicem Bút Sơn is a VICEM subsidiary manufacturing cement brand. The company distributes Bút Sơn cement products including PCB30, PCB40, MC25, and C91 masonry cement. Products meet Vietnamese TCVN and US ASTM standards.
• Vicem Tam Điệp (Vicem Tam Điệp Cement JSC)coreTechnology or IntegrationVicem Tam Điệp is a VICEM subsidiary manufacturing cement. The company distributes Tam Điệp products including premium PCB30, PCB40, and multi-purpose PCP cements.
• Vicem Hạ Long (Vicem Hạ Long Cement JSC)majorTechnology or IntegrationThe company expanded its product portfolio to include Vicem Hạ Long cement, introduced at the 2026 customer conference in Hạ Long (June 2026). Vicem Hạ Long was presented as a new strategic product line, with the company working to expand distribution of this brand alongside existing brands.
• Nhà phân phối Thái Hà Việt Nam (Thái Hà Việt Nam distribution agent)majorChannel Partner/ Reseller/ DistributorDiamond-level distribution agent operating at Đức Giang port, achieving average throughput of over 2,500 tonnes/month of Hoàng Thạch cement. Recognized as a key partner demonstrating strong market execution and logistics management capabilities.
• VICEM (Tổng công ty Xi măng Việt Nam - Vietnam National Cement Corporation)coreStrategic or Co-development PartnerVICEM is the parent conglomerate. Vicem Thương mại Xi măng is a subsidiary ('Công ty con') of VICEM. VICEM leadership (Deputy CEO Nguyễn Thanh Tùng) attends company events and provides strategic guidance. VICEM has credited the company for consistently profitable operations contributing to VICEM's overall results.
• Financial institutions / Banking partnerssupportingOthersCompany website offers bank transfer payment option for e-commerce transactions, indicating banking partnership for payment processing.

Scale indicators9 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• INSEE Vietnam: One of the largest non-VICEM cement manufacturers and distributors in Vietnam, selling ready-mix concrete and bagged cement across multiple regions. Directly competes with TMX for infrastructure and construction customers in the Northern and Southern Vietnam markets, with comparable product breadth (general-purpose, high-strength, specialty cement).
• Hà Tiên 1 Cement JSC: Major listed Vietnamese cement manufacturer with national distribution across general-purpose and specialty cements. Comparable as a peer in scale and product offering serving similar construction and infrastructure customers nationwide.
• Nghi Sơn Cement: Large Northern-Vietnam-based cement manufacturer (Japanese-Vietnamese JV) producing bulk and bagged cement for civil and infrastructure projects. Comparable because it competes directly for the same Northern Vietnam infrastructure and contractor demand that TMX serves.
• Xi Măng Công Thanh: Independent Vietnamese cement manufacturer with distribution serving civil and infrastructure projects. Comparable as a regional cement competitor operating in similar end markets.

Broad incumbents

• SCG Cement-Building Materials Vietnam: Vietnamese arm of Thailand's Siam Cement Group, manufacturing and distributing cement, ready-mix, and building materials across the country. A broadly scoped incumbent with overlapping cement distribution that competes with TMX in the same contractor and infrastructure customer base, though backed by a larger multinational parent.
• Vicem Hoàng Thạch Cement: Sister VICEM subsidiary and TMX's primary upstream supplier, manufacturing cement and ready-mix concrete from its Northern Vietnam plant. Comparable because it both manufactures and self-distributes within the same region and customer base, sometimes competing with TMX's downstream distribution channel.
• Vicem Tam Điệp Cement: Sister VICEM subsidiary that produces premium PCB30/PCB40 and specialty masonry cements distributed by TMX. Comparable as a VICEM-group brand competing for the same contractor and infrastructure demand in overlapping geography.
• Vicem Bút Sơn Cement: Sister VICEM subsidiary producing PCB, MC25, and ASTM C91 masonry cement distributed by TMX. Comparable because it is part of the same VICEM group with overlapping product portfolio and customer segments.

Regional players

• Fico Cement (Công ty CP Xi măng FiCO Tây Ninh): Southern Vietnam-based cement manufacturer with regional distribution of Portland and composite cements. Comparable as a regional cement distributor serving construction customers, though operating in a different geography than TMX's Northern catchment.
• Thăng Long Cement: Northern Vietnam-focused cement producer and distributor serving civil and infrastructure projects. Comparable as a regional cement peer with overlapping Northern Vietnam customer base, though without TMX's VICEM-brand portfolio breadth.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookmessenger.com/t/121183714688602

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VICEM Cement Trading JSC