AsemconnectVietnam - Nam Bay Bay Investment Joint Stock Company (NBB – HOSE) only completed 1.4% of its profit plan in the first quarter of 2026 and continued to record negative operating cash flow.

In the first quarter of 2026, Nam Bay Bay recorded revenue of VND3.83 billion, a decrease of 71.9% compared to the same period; pre-tax profit reached VND0.63 billion, a decrease of 40.6% compared to the same period. The gross profit margin decreased by 39.2%, to 13.2%.
During the period, gross profit decreased by 90.5% compared to the same period, equivalent to a decrease of VND4.84 billion, to VND0.51 billion; financial revenue decreased by 17.8%, equivalent to a decrease of VND12.69 billion, to VND58.7 billion; Financial expenses decreased by 36.4%, equivalent to a reduction of VND 22.73 billion, to VND39.67 billion; selling and administrative expenses decreased by 25.1%, equivalent to a reduction of VND0.97 billion, to VND2.89 billion; other income recorded a loss of VND 16.02 billion compared to a loss of VND9.42 billion in the same period.
Therefore, during the period, the gross profit generated by Nam Bay Bay was insufficient to cover financial, selling, and administrative expenses; Nam Bay Bay's profit came from the recognition of financial revenue.
In 2026, Nam Bay Bay plans to achieve total revenue of VND380 billion and an expected after-tax profit of VND10 billion.
Thus, ending the first quarter of 2026 with after-tax profit reaching VND0.14 billion, Nam Bay Bay has only completed 1.4% of its 2026 plan.
Regarding cash flow, in the first quarter of 2026, Nam Bay Bay recorded a negative operating cash flow of VND253.6 billion compared to a negative VND147.86 billion in the same period last year. Furthermore, during the same period, investment cash flow was positive VND45.5 billion.
In terms of asset size, as of March 31, 2026, Nam Bay Bay's total assets increased by 3% compared to the beginning of the year, equivalent to an increase of VND231.5 billion, reaching VND8,014.8 billion. Of this, the main assets recorded were VND4,341.9 billion in inventory, accounting for 54.2% of total assets; and VND1,959.3 billion in long-term financial investments, accounting for 24.45% of total assets. Short-term receivables amounted to VND972.97 billion, accounting for 12.14% of total assets.
In addition, regarding capital sources, as of the end of the first quarter, the total short-term and long-term debt of Nam Bay Bay increased by 4.7% compared to the beginning of the year, equivalent to an increase of VND208 billion, reaching VND4,669.7 billion and equaling 256.4% of total equity. Of this, the company recorded VND1,411.1 billion in short-term debt and VND3,258.6 billion in long-term debt.
N.Nga
Source: VITIC/Tinnhanhchungkhoan