The 74-year-old beverage legend reports 20 consecutive quarters of losses, at risk of bankruptcy due to nearly 490 billion VND debt with Sabeco

The Chương Dương Beverage Joint Stock Company (SCD) reported in its Q4 2025 financial statement a net revenue of 49.8 billion VND, but still incurred a net loss of 7.3 billion VND. For the entire year of 2025, the company saw a net loss of over 80.4 billion VND, raising the cumulative loss to 346.9 billion VND, causing a negative equity of 157.7 billion VND. Total liabilities exceeded 759.6 billion VND, with 656.7 billion VND in loans, and 43.3 billion VND in interest expenses. The company proposed Sabeco to extend its loan repayments amounting to nearly 488 billion VND; if denied, SCD could face bankruptcy. The company also changed leadership, dismissing CEO Vũ Thành Chung and appointing Nguyễn Thúy Phượng to improve the situation. SCD, originally Usine Belgique, produces carbonated drinks and is a subsidiary of Sabeco.