AsemconnectVietnam - According to Vinh Hoan Corporation's (VHC) November business results report, the company's total revenue for the month reached nearly VND964 billion, a slight decrease compared to the same period last year.

In terms of product structure, the main product, pangasius, accounting for 49% of total revenue, recorded VND472 billion in November 2025, a 10% decrease compared to the same period last year. Several other product groups also saw declines: other mixed products reached VND165 billion (down 4%), shrimp crackers reached VND25 billion (down 5%), while the noodle and rice paper group recorded VND28.8 billion, also a slight decrease of 1%.
Conversely, revenue from Vinh Hoan's by-products increased by 9% compared to the same period, reaching VND187 billion. Notably, the collagen and gelatin product group recorded strong growth of 78%, reaching VND71 billion. In addition, the value-added product segment continued to expand with a growth of 145% year-on-year, reaching VND15 billion.
Regarding key markets, the US continued to be the region with the sharpest decline, with revenue reaching VND271 billion, down more than 9% compared to November 2024. China also decreased by 2%, reaching VND78 billion. In the European market, Vinh Hoan recorded revenue of VND162 billion, a slight decrease of 0.6%. In contrast to this trend, the remaining markets brought in total revenue of VND175 billion, an increase of 34% year-on-year. The domestic market alone brought in VND277 billion in revenue, a decrease of 7%.
For the first 11 months of 2025, Vinh Hoan's preliminary revenue is estimated at VND11,100 billion, a 3% decrease compared to the same period last year. The main reason is a 6% year-on-year decline in the frozen fillet segment and a 1% decrease in the collagen and gelatin segment.
Vietcap Securities expects VHC's export activities to recover thanks to returning consumer demand and the gradual absorption of tariff impacts. In addition, the company will reduce its dependence on the Chinese market, shifting towards higher value-added markets.
N.Nga
Source: VITIC/Tinnhanhchungkhoan