VNECO 3 reports significant after-tax loss in first half of 2025

VNECO3 Electricity Construction Joint Stock Company (VE3) reported an after-tax loss of VND 4,035,320,776 for the first six months of 2025, a significant decrease compared to the after-tax profit of VND 78,382,924 reported in the first half of 2024. This marks a reduction of VND 4,113,703,700 from the company's self-prepared H1 2025 profit of VND 102,136,629 before auditing.

The decline is primarily attributed to increased financial expenses, which rose to VND 2,713,790,051 in H1 2025 from VND 1,580,771,735 in H1 2024. General administrative expenses also surged to VND 4,236,844,794 from VND 1,422,432,533 in the prior year. Additionally, the company recorded inventory provisions of VND 739,699,011 and provisions for advance payments of VND 1,885,039,678 for prolonged construction projects, along with a current income tax reduction of VND 232,581,331.

Total assets decreased to VND 170,517,172,077 as of June 30, 2025, from VND 193,214,198,881 at the beginning of the year. Liabilities also saw a reduction, standing at VND 155,300,891,458 compared to VND 173,937,145,998 on January 1, 2025. The company's shares are currently listed on the Hanoi Stock Exchange and are under warning, control, and restricted transaction status as of the report date.