AsemconnectVietnam - Song Hong Garment Joint Stock Company (MSH - HOSE) has just announced its financial report for the third quarter of 2025, with the highlight being that its profit after tax continues to break the record set in the previous quarter.

Specifically, in the third quarter of 2025, Song Hong Garment Joint Stock Company's net revenue reached VND1,647 billion, lower than the same period last year, but thanks to a 13% decrease in cost of goods sold, gross profit increased by 32% over the same period, to about VND350 billion.
In addition, financial revenue increased by 32% over the same period; while financial expenses decreased by 34% to VND22 billion; business management and sales expenses increased by 38% and 6%, respectively; to VND45 billion and VND83 billion.
As a result, MSH's after-tax profit in the third quarter reached nearly VND201 billion, an increase of 54% compared to the same period in 2024, surpassing the record set in the second quarter of 2025. In the second quarter of 2025, the Company recorded the highest profit in its history by quarterly cycle, reaching VND180 billion.
In the first 9 months, MSH's net revenue reached VND4,150 billion; after-tax profit reached VND468 billion; corresponding to growth rates of 8% and 73% respectively compared to the same period last year. Compared to the revenue plan of VND5,500 billion and pre-tax profit of VND600 billion, in the first 9 months, the Company has achieved 75% of the revenue target and 95% of the profit target.
As of September 30, 2025, MSH's total assets reached nearly VND4,960 billion, an increase of VND437 billion compared to the beginning of the year. Of which, cash, cash equivalents and short-term deposits reached nearly VND2,000 billion, an increase of 29% compared to the beginning of the period; ending inventory reached more than VND657 billion, unchanged from the beginning of the year with finished products and unfinished production costs accounting for more than 80%.
On the capital side, liabilities at Song Hong Garment reached about VND 2,480 billion, mainly short-term debt. Total outstanding financial loans were at VND 1,308 billion, down 8% compared to the beginning of the year, accounting for more than 26% of total capital, concentrated at BIDV and Vietcombank Nam Dinh.
N.Nga
Source: VITIC/Tinnhanhchungkhoan