AsemconnectVietnam - Hoang Quan Real Estate Consulting, Trading and Service Joint Stock Company (HQC - HOSE) reported a slight increase of 4.6% in Q1 2026 revenue but a slight increase in net profit, mainly contributed by financial activities.

In Q1 2026, Hoang Quan Real Estate recorded revenue of VND5.22 billion, a decrease of 89.3% compared to the same period last year; after-tax profit reached VND5.4 billion, a slight increase of 4.6% compared to the same period last year. The gross profit margin improved from 46.9% to 66.5%.
Notably, during the period, sales and service revenue was VND15.04 billion, but revenue deductions amounted to VND9.82 billion, corresponding to a sales return rate of 65.29%.
Gross profit decreased by 84.9% year-on-year, equivalent to a decrease of VND19.49 billion, to VND3.47 billion; financial revenue decreased by 28.4%, equivalent to a decrease of VND6.28 billion, to VND15.81 billion; financial expenses decreased by 73.2%, equivalent to a decrease of VND13.45 billion, to VND4.92 billion; selling and administrative expenses decreased by 52.1%, equivalent to a decrease of VND11.3 billion, to VND10.39 billion; and other activities showed negligible fluctuations.
In terms of core business operations (gross profit – financial expenses, selling and administrative expenses), in the first quarter, Hoang Quan Real Estate recorded a core profit of negative VND11.84 billion compared to a negative VND17.1 billion in the same period last year.
Thus, the gross profit generated by Hoang Quan Real Estate in the first quarter was insufficient to cover financial, sales, and administrative expenses; the company's profit was mainly due to financial revenue.
Regarding asset size, as of March 31, 2026, Hoang Quan Real Estate's total assets increased slightly by 0.4% compared to the beginning of the year, corresponding to an increase of VND36.4 billion to VND9,009.4 billion. Of this, the main assets recorded were VND3,536.1 billion in long-term financial investments, accounting for 39.25% of total assets; VND3,201.2 billion in short-term receivables, accounting for 35.5% of total assets; VND1,505.9 billion in inventory, accounting for 16.71% of total assets; and other items showing insignificant fluctuations.
Furthermore, regarding capital sources, as of the end of the first quarter, total short-term and long-term debt decreased by 7.4% compared to the beginning of the year, equivalent to a reduction of VND91.1 billion, to VND1,140.6 billion, representing 20.9% of total equity. Of this, short-term debt was VND748.8 billion and long-term debt was VND391.8 billion.
N.Nga
Source: VITIC/Tinnhanhchungkhoan