AsemconnectVietnam - Long Hau Joint Stock Company (LHG - HOSE) recorded revenue of VND176.21 billion and after-tax profit of VND112.18 billion, a decrease of 24.6% and a slight increase of 1.9% respectively in the first quarter of 2026.

Long Hau has just announced its Q1/2026 financial report. The company recorded revenue of VND176.21 billion, a decrease of 24.6% compared to the same period last year; after-tax profit reached VND112.18 billion, a slight increase of 1.9% compared to the same period last year. The gross profit margin decreased from 59.9% to 54.8%.
During the period, in addition to declining revenue, Long Hau also faced pressure from narrowing gross profit margins, resulting in a 31.1% decrease in gross profit compared to the same period last year, equivalent to a decrease of VND43.64 billion, to VND96.49 billion.
Furthermore, during the same period, financial revenue increased slightly by VND0.12 billion, to VND15.7 billion; financial expenses decreased by 14.6%, equivalent to a decrease of VND0.75 billion, to VND4.39 billion; selling and administrative expenses increased by 8.5%, equivalent to an increase of VND1.23 billion, to VND15.62 billion; and other income increased dramatically by VND46.61 billion, to VND47.69 billion.
Regarding core business operations (gross profit – financial, sales, and administrative expenses), in the first quarter, Long Hau recorded a decrease of 36.6% compared to the same period last year, equivalent to a decrease of VND44.12 billion, to VND76.48 billion.
Thus, despite the 36.6% decrease in core profit, Long Hau still recorded a slight increase in net profit of 1.9%, due to a surge in other income.
Long Hau further explained that the surge in other income was mainly due to the recognition of VND57.67 billion in land compensation revenue compared to no revenue recorded in the same period last year.
In 2026, Long Hau plans total revenue of VND728.22 billion, a decrease of 4.2% compared to the same period last year; after-tax profit is expected to be VND165.73 billion, a decrease of 43.3% compared to the same period last year; and total investment is expected to be VND1,496 billion.
Thus, at the end of the first quarter of 2026, with a net profit of VND112.18 billion, Long Hau had completed 67.7% of its annual plan.
In terms of asset size, as of March 31, 2026, Long Hau's total assets increased by 3.4% compared to the beginning of the year, equivalent to an increase of VND111.5 billion, reaching VND3,387.8 billion. Of this, the main assets recorded were VND1,033.2 billion in cash and short-term financial investments, accounting for 30.5% of total assets; VND824.2 billion in inventory, accounting for 24.3% of total assets; VND695.9 billion in investment properties, accounting for 20.5% of total assets; VND473.8 billion in short-term receivables, accounting for 14% of total assets; and other items.
Long Hau explained that other short-term receivables from Tan Thuan Industrial Development Co., Ltd. at the end of the first quarter amounted to VND60.38 billion. This is an advance payment to Tan Thuan to cover the resettlement costs for the Long Hau 1 Industrial Park project, totaling VND59.18 billion, as required by the principal agreement signed between the two parties. Currently, Long Hau is working with Tan Thuan on the entire resettlement cost of the project.
However, in 2024, Long Hau received a document regarding the reimbursement of resettlement costs for the Long Hau Industrial Park project, with a provisional payment of VND328.7 billion. Currently, Long Hau is continuing to work with Tan Thuan to determine the resettlement costs and has not yet collected enough information to determine the value of the resettlement land for the project; therefore, Long Hau has not recorded the resettlement costs.
N.Nga
Source: VITIC/Tinnhanhchungkhoan