Haxaco reports a net loss of nearly 26 billion VND in Q3 2025, profit over 9 months shrinks by 99%

Haxaco recently announced its Q3 2025 financial report, showing significant declines in performance. The company recorded a revenue of over 1,149.5 billion VND, down 25% year-on-year. Gross profit fell by nearly 66% to around 59.7 billion VND. As a result, Haxaco posted a net loss of nearly 25.8 billion VND compared to a profit of 90.3 billion VND in the same quarter last year. Key factors included increased competition in the automotive sector and rising operational costs. Throughout the first 9 months of 2025, Haxaco’s total revenue was about 3,137.2 billion VND, down 15%, with net profit after tax dropping by 99% to just over 1 billion VND. As of September 30, 2025, total assets decreased by 2% to more than 2,360 billion VND, with cash and cash equivalents down 55%. Total liabilities increased by 9% to over 1,001.6 billion VND, with short-term debts accounting for 72%.