AsemconnectVietnam - Hoa Binh Construction Group Joint Stock Company (HBC - HOSE) announced its business results in Q3/2025 with positive signals, marking an important step forward in the restructuring and recovery journey.

In Q3/2025, Hoa Binh recorded net revenue of more than VND1,122 billion, up 15% over the same period in 2024. Construction activities continued to play a key role, helping gross profit increase by 10% to VND66.8 billion, although profit margin remained stable.
The highlight of this period was financial revenue increasing by more than 1,100%, reaching VND229.5 billion, mainly from late payment interest recorded according to court judgments. This is the result of persistent efforts in debt collection, while affirming Hoa Binh's professional construction management capacity with a very complete legal profile.
Thanks to the sudden financial revenue and increased other income, the Company's profit after tax in the third quarter of 2025 reached VND188.3 billion, an increase of 138% over the same period in 2024.
In the first 9 months of the year, HBC recorded net revenue of more than VND2,759 billion, profit after tax of nearly VND240 billion.
A representative of Hoa Binh's Board of Directors said that the difficulties in the past time mainly stemmed from objective factors - that is, the force majeure risks from the COVID-19 pandemic seriously affecting Hoa Binh because the Group's key areas are tourism and real estate.
Currently, the Company is actively implementing the Comprehensive Restructuring project with key activities including continuing to divest ineffective investments to improve cash flow, negotiating with suppliers and subcontractors on debt-to-equity swaps to reduce financial pressure.
Regarding core business activities, although revenue in 2025 is expected to be lower than the original plan because most projects have only started implementation in the third and fourth quarters, Hoa Binh still maintains the capacity to implement large projects with high quality. The value of output that has been signed but not yet implemented for 2026 (backlog in 2026) of Hoa Binh is currently quite large (over VND10,000 billion).
In addition, Hoa Binh continues to affirm its pioneering position in applying technology to management and construction (BIM, PMS...), maintaining a centralized management system. The company is also trusted by BIDV, VietinBank, SeABank, MSB, TPBank, VPBank, maintaining and extending important credit limits.
N.Nga
Source: VITIC/Tinnhanhchungkhoan