CTCP Halong Canned Food (Halong Canfoco, HNX: CAN) reported a record after-tax loss of 9.5 billion VND in Q4 2025, marking the largest loss in 22 years. This was primarily due to the disposal of 130 tons of pork infected with African swine fever. Specifically, Q4 revenue reached over 192 billion VND, up 24% year-on-year, but production costs surged, leading to a gross profit of only 24 billion VND, down 41%. As a result, the company faced significant losses while interest and management costs increased. Annual revenue for 2025 was 663 billion VND, down 3% from the previous year. On the balance sheet, total assets increased by 36%, but liabilities surged by 68%, mainly short-term debt. In early 2026, police raided the company and detained several executives due to the food safety scandal. The company has suspended production due to revoked ISO and FSSC certifications.
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