AsemconnectVietnam - Searefico Joint Stock Company (SRF - HOSE) has adjusted its investment plan for an outbound warehouse project in Da Nang High-Tech Park, increasing the total investment capital to VND180 billion.

Searefico approved the adjustment to the plan for implementing the outbound warehouse project in Da Nang High-Tech Park.
The total investment capital was adjusted from VND150 billion to VND180 billion, the construction area increased from 7,448 m2 to 11,712 m2, the green space area decreased from 4,796 m2 to 4,607 m2, and the container yard area decreased from 4,836 m2 to 4,448 m2.
In terms of business operations, in Q3/2025, Searefico recorded revenue of VND297.64 billion, an increase of 51.3% compared to the same period last year. Net profit after tax reached VND0.92 billion, an increase of VND0.02 billion. However, the gross profit margin decreased from 9.1% to 8.5%.
During the period, gross profit increased by 41.4% year-on-year, equivalent to an increase of VND7.42 billion, reaching VND25.35 billion; financial revenue decreased by 33.1%, equivalent to a decrease of VND0.54 billion, to VND1.09 billion; financial expenses increased by 50.3%, equivalent to an increase of VND4.25 billion, to VND12.7 billion; selling and administrative expenses decreased slightly by 0.9%, equivalent to a decrease of VND0.12 billion, to VND12.56 billion; and other activities showed relatively insignificant fluctuations.
Cumulatively for the first nine months of 2025, Searefico recorded revenue of VND730.36 billion, an increase of 5.6% year-on-year. Net profit after tax reached VND6.46 billion, an increase of VND4.89 billion compared to the same period last year.
In 2025, Searefico plans for revenue of VND2,200 billion and net profit after tax of VND39 billion. Thus, after the first nine months of 2025, with a net profit after tax of VND6.46 billion, Searefico has only completed 16.6% of its annual plan.
In reality, despite making a profit in the first nine months, Searefico's main operating cash flow remained negative at VND177.6 billion, compared to a negative VND45.1 billion in the same period last year. Additionally, during the same period, investment cash flow was positive at VND78.2 billion and financing cash flow was positive at VND79.1 billion.
According to data from SSI Securities' iBoard, Searefico has experienced two consecutive years of negative cash flow: 2023 (negative VND39.96 billion) and 2024 (negative VND120.27 billion). Notably, since 2010, Searefico has never recorded such a record negative cash flow as in the first nine months of 2025. The largest negative cash flow ever recorded was in 2017, at VND171.31 billion.
N.Nga
Source: VITIC/Tinnhanhchungkhoan