After selling Cần Giờ land to GELEX for over 600 billion, the stock of the largest automobile distribution company skyrockets 80% after 9 consecutive sessions

SVC shares of Saigon General Services Corporation have surged for 9 consecutive sessions, closing at 36,450 VND on October 28, 2025, raising the market capitalization to nearly 3.2 trillion VND. This increase followed the company’s third-quarter financial statement release, reporting a profit 58 times higher than the same period last year, reaching 363.9 billion VND. However, auto sales only rose by 21.3%, while “financial revenue” skyrocketed by 33 times, mainly from selling 50% of its stake in the Cần Giờ Residential Project to Gelex, bringing in 619.4 billion VND. Despite reporting record profits, Savico’s operating cash flow was negative at 1.018 trillion VND, and cash declined by 35.4%, with significant debt increases of 38%. In total, Savico recorded a cumulative pre-tax profit of 639 billion VND after 9 months, exceeding the annual plan by 2.46 times.