AsemconnectVietnam - Hanoi Construction Corporation - JSC (Hancorp, ticker HAN - UPCoM) recorded a profit of VND6.06 billion in the third quarter, bringing the cumulative profit for the first nine months of 2026 to VND27.9 billion, a slight decrease of 2.8% compared to the same period last year.

In the third quarter of 2026, Hancorp recorded revenue of VND494.3 billion, a decrease of 18.4% compared to the same period last year; after-tax profit reached VND6.06 billion, an increase of 8.6% compared to the same period last year. The gross profit margin improved from 5.6% to 10.3%.
During the period, Hancorp's gross profit increased by 49.2% compared to the same period last year, equivalent to an increase of VND16.79 billion, reaching VND50.92 billion. Financial revenue decreased by 22.2%, equivalent to a decrease of VND 1.86 billion, to VND6.53 billion; financial expenses increased by 40.8%, equivalent to an increase of VND5.86 billion, to VND20.22 billion; selling and administrative expenses increased by 36.1%, equivalent to an increase of VND9.08 billion, to VND34.25 billion.
For the first nine months of 2026, Hancorp recorded revenue of VND2,139.7 billion, a decrease of 9.4% compared to the same period; after-tax profit reached VND27.9 billion, a slight decrease of 2.8% compared to the same period last year.
Regarding cash flow, in the first nine months of 2026, Hancorp recorded a negative operating cash flow of VND615.2 billion compared to a negative VND360.04 billion in the same period. Furthermore, investment cash flow was positive at VND29.48 billion and financing cash flow was positive at VND342 billion, mainly due to increased borrowing to offset operating cash flow.
Specifically, regarding capital sources, as of the end of Q3, Hancorp's total short-term and long-term debt increased by 36.1% compared to the beginning of the year, equivalent to an increase of VND362.4 billion, reaching VND1,366.7 billion and equaling 76.5% of total equity. Of this, short-term debt was VND1,165.4 billion and long-term debt was VND201.3 billion.
According to data on SSI Securities' iBoard, Hancorp has just experienced two consecutive years of negative cash flow, recording a negative VND302.84 billion in 2024 and a negative VND370.03 billion in 2025.
In terms of asset size, as of September 30, 2026, Hancorp's total assets increased by 4.5% compared to the beginning of the year, equivalent to an increase of VND309.3 billion, reaching VND7,245.7 billion. Of this, the main assets are VND3,990.2 billion in short-term receivables, accounting for 55.07% of total assets; VND1,628.6 billion in inventory, accounting for 22.48% of total assets; and VND500.9 billion in investment properties, accounting for 6.9% of total assets.
Notably, regarding receivables, at the beginning of the year, a provision for doubtful short-term receivables of VND188.2 billion was set aside, but as of September 30, 2026, the provision value had increased to VND214.9 billion.
Previously, Hancorp announced the temporary suspension of Mr. Dau Van Dien from his position as Chairman of the Board of Directors until further notice. Simultaneously, Mr. Nguyen Minh Cuong, a member of the Board of Directors, will temporarily take charge of the Board of Directors. All decisions are effective from June 29th.
Mr. Dau Van Dien, born in 1968, has been elected Chairman of the Board of Directors of Hancorp since March 5th, 2021.
Source: VITIC/Bao Tai chinh – Dau tu