Masan High-Tech Materials outlines AI-focused growth roadmap at 2026 AGM

April 16, 2026 | 16:55

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Masan High-Tech Materials is doubling down on critical minerals for the AI era, unveiling its growth strategy at the 2026 AGM.

Masan High-Tech Materials outlines AI-focused growth roadmap at 2026 AGM

The meeting, held on April 16, underscored the company's role in the global supply chain amid surging demand for strategic metals driven by AI and semiconductor expansion. The rapid advancement of AI is ushering in a new growth cycle for high-tech materials, particularly tungsten – an essential input for advanced manufacturing.

Against this backdrop, Masan High-Tech Materials is leveraging its resource base and downstream processing capabilities to strengthen its position in the global value chain.

At the AGM, company leadership highlighted the strategic importance of materials from the Nui Phao mine in the global AI and semiconductor ecosystem. The company currently holds an estimated 21 per cent market share outside China in this segment.

Michael Glover, CEO of Masan High-Tech Materials said, “Through strategic investments, a focus on enhancing the value of our core product portfolio, and disciplined cost optimization, we are transforming our strategic material advantages into financial growth and long-term stakeholder value.”

Michael Glover, chief executive officer of Masan High-Tech Materials, speaks about the company’s strategy to translate its resource advantages into sustainable financial growth through targeted investments and cost optimisation

Michael Glover, CEO of Masan High-Tech Materials

The company recorded revenue of $278 million in 2025, up 19 per cent on a like-for-like basis. Growth momentum has accelerated into 2026, supported by a sharp increase in tungsten prices. In the first quarter, ammonium paratungstate (APT) prices exceeded $3,100 per metric tonne unit (mtu), well above market expectations.

Preliminary results show first-quarter revenue of approximately $112 million and net profit after tax of $20 million, already surpassing the full-year profit for 2025. The strong performance marks a better-than-expected start and sets the stage for continued growth in the remaining quarters.

The upcycle in tungsten prices, rising nearly tenfold from early 2025, has been a key driver of profitability, alongside operational restructuring and tighter financial discipline.

Looking ahead, the company expects to generate strong operating cash flow, prioritising reinvestment and balance sheet deleveraging. Assuming APT prices remain above $1,500 per mtu, Masan High-Tech Materials targets achieving a net cash position in 2027-2028, enabling potential dividend payments.

The company has set a 2026 revenue target of $640-812 million and net profit of $68-100 million, reflecting confidence in sustained market tailwinds.

Masan High-Tech Materials is also progressing with plans to transfer its listing to the Ho Chi Minh Stock Exchange, aiming to enhance transparency, improve liquidity, and attract a broader base of institutional investors.

Phan Chien Thang, deputy CEO, explained the company’s favourable positioning for future growth. “We are at a golden moment for breakthrough growth.”

“The convergence of strategic resource assets, world-class processing capabilities, increased strategic stockpiling, and surging AI-driven demand is creating strong momentum for our next development phase,” he added