Shareholders Question HAGL Agrico’s Years of Selling Below Cost Resulting in Losses, Trần Bá Dương Says: “Eating HAGL Agrico is Eating Yourself”

During the 2025 Annual General Meeting, HAGL Agrico announced a loss of 854 billion VND for the fifth consecutive year, mainly due to costs from uprooting fruit trees and high depreciation. Revenue fails to cover costs as the company has continuously sold below cost since 2021, leading to rising gross losses that peaked at 971 billion VND in 2022. Chairman Trần Bá Dương claimed there was no selling below cost at the product level, arguing that financial reports do not accurately reflect effective operations. He attributed the losses to high costs related to uprooting trees and financial expenses. Shareholders also questioned transactions with Thaco Agri; Dương explained these were necessary to provide funding for HAGL Agrico. He emphasized that Thaco is trying to rescue HAGL Agrico from significant debts, as failure would also cost Thaco. Both companies will continue to operate independently, but HAGL Agrico’s shares will be transferred to Thaco Agri. Despite current negative figures, Dương remains optimistic about the company’s potential future.