Vinasun Corporation reported a Q1/2025 revenue of VND 234.39 billion, a decrease of 15.9% compared to last year. Net profit after tax was only VND 14.16 billion, the lowest since Q2/2022. The company faces pressure from tech competitors like Grab and XanhSM, which have significantly reduced Vinasun’s market share to just 2.36%. Despite plans to invest in 400 new vehicles this year, shareholders are concerned about rising costs amidst stagnant profits. In 2024, Vinasun recorded a revenue of VND 1.002 trillion, down 17.78%, with operating profit dropping 83.52%. VNS stock is at its lowest in years, prompting suggestions for a stock buyback if sufficient cash flow can be ensured.
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