The once largest electronics chain in the North has officially dissolved.

Mobile World Investment Corporation (stock code: MWG) has just announced that the Board of Directors has approved the decision to dissolve Tran Anh Digital World Corporation (Tran Anh Company - a subsidiary of Mobile World) for the purpose of optimizing operations.

Tran Anh Company, formerly Tran Anh Trading - Service Company Limited, was established in 2002. This company used to be one of the leading electronics and computer retailers in the Northern region from 2007 to 2017.

In the past, Tran Anh Company has continuously recorded stable revenue growth over the years. The most notable year was 2016, when it achieved a record high revenue of over 4,000 billion VND.

Notice of dissolution of Tran Anh Digital World Joint Stock Company Source: Mobile World

However, after massive expansion, by 2017, the company's revenue had dropped significantly and it reported a loss of more than 60 billion VND. By early 2018, Mobile World had acquired 99.3% of Tran Anh Company's shares.

After being acquired by Mobile World, Tran Anh Company's business has not improved as revenue from 2019 to 2022 only fluctuated between 130 - 135 billion VND per year.

After being merged with Mobile World, Tran Anh Company's TAG shares were delisted from the Hanoi Stock Exchange (HNX) and transferred to trading on UPCoM, then had their public company status revoked in October 2022.

Previously, also for the reason of optimizing operations, Mobile World dissolved two subsidiaries, Toan Tin Logistics JSC and 4KFARM JSC.

By the end of June 2024, the Mobile World retail chain (including Topzone) had 1,046 stores, a decrease of 134 stores compared to the same period last year.

Regarding business results, in the first half of 2024, Mobile World recorded net revenue of VND 65,620 billion, an increase of 16% over the same period; profit after tax reached VND 2,075 billion, an increase of more than 52 times over the same period last year, completing 86.5% of the profit plan for the whole year of 2024.

Source: https://nld.com.vn/chuoi-dien-may-lon-nhat-mien-bac-mot-thoi-chinh-thuc-giai-the-19624082012132551.htm