Innovation is a key driver in Masan High-Tech Materials Joint Stock Company's long-term development strategy, continuously creating more value from every ton of ore

Innovation is a key driver in MSR's long-term development strategy. The Company continuously invests in research, application of new technologies and improvement of production processes to increase mineral recovery rates, increase the value of resources and optimize operational efficiency across the entire value chain.

In 2025, MSR recorded a tungsten recovery rate of over 96% at the Masan Tungsten Refinery, despite numerous challenges from fluctuations in input materials. Through projects such as the Fluorite Cleaner 5 Expansion and the reprocessing of tailings from the fine-particle gravity separation (HG) stage, the Company continuously seeks solutions to improve mineral processing technology and optimize chemicals, energy, equipment and operational data to enhance the recovery of tungsten, fluorite and other valuable minerals, contributing positively to production efficiency.

At the same time, MSR is stepping up deep processing to increase product value. Research, testing and process optimization efforts have helped the Company successfully develop high-tech product lines such as ammonium metatungstate (AMT), ultra-fine tungsten oxide and, in particular, 99.99% ultra-pure APT, with 72 tons supplied to customers at premium-segment prices in 2025.

This is the result of a long-term investment strategy in R&D, digital transformation and the application of AI in operations, helping MSR not only enhance its competitiveness but also increase the value of resources and affirm Vietnam's position in the global strategic materials supply chain.

Masan High-Tech Materials Joint Stock Company focuses on developing skills and enhancing leadership capacity for its employees

Building a culture of innovation across the organization

In addition to investing in technology, MSR is building a culture of innovation as part of its daily operations.

Through the MSR Initiative Program, Innovation Day and the MSR digital idea management platform, staff and employees are encouraged to propose ideas, share initiatives and replicate effective improvement models.

In 2025 alone, the system recorded 7,336 ideas, of which 1,341 initiatives were approved for implementation. From small operational improvements to large-scale technology solutions, each initiative has helped enhance operational efficiency, improve safety, optimize costs and create additional value for the Company.

Innovation driving growth

These innovation efforts have contributed to positive business results for MSR. In 2025, the Company achieved revenue of VND 7,443 billion, contributed more than VND 1,030 billion to the state budget, and allocated more than VND 3.8 billion to social responsibility activities and community support.

Moving into 2026, the Company continues to maintain strong growth momentum. After posting nearly VND 3,000 billion in revenue and VND 537 billion in after-tax profit in the first quarter, MSR is estimated to add about VND 690 billion in profit in the second quarter, bringing its cumulative profit for the first six months to about VND 1,227 billion. This result reflects favorable commodity market conditions, the Company's innovation efforts, its focus on high-value-added products and optimized operations.

MSR's growth momentum is expected to continue improving as processed ore output recovers and increases further from the third quarter thanks to an adjusted mining license, with 28 million tons of ore to continue to be mined. Notably, Nui Phao Company, a subsidiary of MSR, has been selected to conduct exploration at Nui Phao Expansion and Nui Chiem, two areas with the potential to add about 115 million tons of polymetallic tungsten resources. This is an important foundation for MSR to expand mining and processing over the next 20 to 30 years, reinforcing its long-term development potential in the global strategic materials supply chain and creating sustainable value for stakeholders.

The high-tech deep processing plant for tungsten products of Masan High-Tech Materials Joint Stock Company in Thai Nguyen

Driving a new direction for the tungsten value chain

After 16 years of development, MSR has built a rare integrated value chain in the mining industry. With a modern technology system, a well-invested production line and the capacity of its Vietnamese expert team to master deep processing technology, MSR has an important foundation to control quality, optimize resource use efficiency and promote sustainable development models.

In the coming time, MSR plans to expand its deep processing operations, continue promoting the circular economy model, and develop a tungsten recycling plant to increase metal recovery from secondary raw materials, reducing dependence on mining. This direction not only meets increasingly high standards on ESG, traceability and responsible supply chains, but is also in line with the Government's orientation of promoting science, technology and innovation and enhancing self-reliance in strategic industries of the future such as artificial intelligence, semiconductors, electric vehicles and clean energy.

Masan High-Tech Materials Joint Stock Company is a typical enterprise in the Top 10 Vietnam Innovative and Efficient Enterprises 2026 - Energy sector

On June 26, 2026, at the Announcement and Honoring Ceremony for the Top Innovative and Efficient Enterprises (VIE50/VIE10) and Top Vietnam Green ESG Enterprises (ESG100/ESG10), held by Finance - Investment Newspaper in coordination with Viet Research, Masan High-Tech Materials Joint Stock Company (MSR) was honored in the Top 10 Vietnam Innovative and Efficient Enterprises 2026 (VIE10) - Energy sector.

Being honored in the Top 10 Vietnam Innovative and Efficient Enterprises 2026 is proof of MSR's continuous efforts to master technology, develop strategic minerals into high-value technology materials, and build an innovative enterprise with international competitiveness.