Q1/2025 profits drop 48%, 60-year-old Vietnamese consumer goods company laments about the ‘flood’ of Chinese goods

CP Rạng Đông (RAL) has reported its Q1/2025 financial results, revealing a revenue of 1,528 billion VND, down 46% compared to last year, and a net profit of nearly 101 billion VND, a decrease of 48%. The company cited intense competition from foreign goods, especially surplus Chinese products, as a key factor, as well as an increasing trend of businesses exiting the market. In the first two months of 2025 alone, 67,000 businesses withdrew. Additionally, foreign corporations and online business platforms are gaining substantial market share. Rạng Đông is actively organizing events like Rạng Đông Techday and implementing scientific research projects to adapt and innovate. They also allocate 15% of their after-tax profit for a Science and Technology Development Fund.