AsemconnectVietnam - SMC Investment and Trading Joint Stock Company (SMC - HOSE) recorded a profit of VND343.95 billion in Q4, bringing the cumulative profit for the whole year 2025 to VND185.07 billion, achieving 616.9% of the annual plan.

In Q4 2025, SMC Investment and Trading recorded revenue of VND1,638.13 billion, a decrease of 24.9% compared to the same period; after-tax profit recorded a profit of VND343.95 billion compared to a profit of VND5.27 billion in the same period, an increase of VND338.68 billion. The company no longer operates below cost, so the gross profit margin shifted from negative 1.1% to positive 0.6%.
During the period, gross profit recorded a positive VND9.08 billion compared to a negative VND25.05 billion in the same period last year, an increase of VND34.13 billion.
In addition, during the same period, financial revenue increased by 37.7% compared to the same period last year, an increase of VND1.86 billion, reaching VND6.8 billion; financial expenses decreased by 46.6%, a decrease of VND30.6 billion, to VND35.1 billion.
Notably, selling and administrative expenses continued to record a negative VND179.42 billion compared to a negative VND156.17 billion in the same period last year; and other income recorded VND222.79 billion compared to a negative VND 50.04 billion in the same period last year.
Thus, the gross profit of VND9.08 billion was lower than the financial expenses of VND35.1 billion. SMC Investment and Trading's profit was mainly due to a surge in other income and negative recorded business management expenses.
Explaining the sharp increase in profit, SMC Investment and Trading stated that it was due to the ineffective liquidation of assets and the reversal of provisions for doubtful debts that had been processed in the fourth quarter.
For the year 2025, SMC Investment and Trading recorded revenue of VND7,006.97 billion, a decrease of 21.5% compared to the same period; after-tax profit recorded a profit of VND185.07 billion compared to a profit of VND12.07 billion in the same period, an increase of VND173 billion.
In 2025, SMC Investment and Trading plans to achieve revenue of VND9,500 billion and an expected after-tax profit of VND30 billion.
Thus, thanks to the surge in profit in the fourth quarter, SMC Investment and Trading achieved a full-year profit of VND185.07 billion, completing 616.9% of the annual plan.
Thanks to the return to profitability in 2025, as of December 31, 2025, SMC Investment and Trading recorded a positive accumulated undistributed profit of VND27.8 billion (compared to a negative VND139.6 billion at the beginning of the year).
Contrary to the surge in profit that helped eliminate accumulated losses, in 2025, the main operating cash flow remained negative by more than VND8 billion. In addition, investment cash flow was positive VND347.2 billion, while financing cash flow was negative VND347.2 billion.
In terms of asset size, as of December 31, 2025, SMC Investment and Trading's total assets decreased by 6.8% compared to the beginning of the year, equivalent to a decrease of VND324.6 billion, to VND4,453.6 billion. Of this, the main assets recorded were VND1,447.9 billion in short-term receivables, accounting for 32.5% of total assets; VND865.5 billion in fixed assets, accounting for 19.43% of total assets; VND627.1 billion in cash and short-term financial investments, accounting for 14.1% of total assets; and VND407.2 billion in inventory, accounting for 9.14% of total assets.
Notably, while the provision for doubtful short-term receivables was VND351.5 billion at the beginning of the year, it had decreased to only VND179.1 billion by December 31, 2025.
Furthermore, regarding capital sources, as of September 30, 2025, SMC Investment and Trading's total short-term and long-term debt decreased slightly by 4% compared to the beginning of the year, equivalent to a reduction of VND96.7 billion, to VND2,293.87 billion, representing 352.4% of total equity.
N.Nga
Source: VITIC/Tinnhanhchungkhoan