Before he could celebrate, the owner of the Hanoi Vodka company was back in the red.

(NLDO) - Accumulated in the first 9 months of 2025, net revenue reached 87.9 billion VND, an increase of more than 10% over the same period, but profit after tax was still negative 3.8 billion VND.

According to the Q3 2025 financial report of Hanoi Alcohol and Beverage Joint Stock Company (Halico, stock code: HNR), net revenue reached over VND 23.6 billion, an increase of 6.1% compared to the same period last year. Of this, alcoholic beverages accounted for 91% of the revenue structure.

Cost of goods sold increased by 4.7% year-on-year, while financial income increased by 25%, reaching VND 1.5 billion – mainly due to interest on bank deposits. As of the end of the third quarter, Halico had over VND 135 billion deposited in banks.

After deducting expenses, the company reported a loss of 4.3 billion VND, lower than the loss of over 4.9 billion VND in the same period last year.

For the first nine months of 2025, net revenue reached VND 87.9 billion, an increase of over 10% compared to the same period last year, but after-tax profit remained negative VND 3.8 billion (compared to a negative VND 7.4 billion in the same period last year).

Halico shares have remained stagnant at 12,000 VND for many years. Source: Fireant

This result is seen as a setback for Halico, as the company had previously recorded a net profit of nearly 700 million VND in the first six months of 2025 – its first half-year profit since 2016. However, this profit mainly came from asset liquidation, not from core business operations.

This indicates that the company's recovery still faces many challenges.

Previously, explaining the cause of the loss, Halico said it was due to the high price of input materials. In addition, the consumption of alcohol decreased due to unfavorable weather and the impact of a series of measures under the State's policy on preventing the harmful effects of alcohol abuse.

On the stock market, HNR shares have been virtually "frozen" at 12,000 VND per share for over 5 years, with no transactions.

The concentrated shareholder structure is believed to be the reason for the lack of liquidity in this stock, as Hanoi Beer, Alcohol and Beverage Corporation ( Habeco ) holds 54.29% of the charter capital, while Streetcar Investment Holding Pte. Ltd (Singapore) owns 45.57%.

Halico, formerly Hanoi Wine Factory, was built in 1898 and is now over 120 years old.

This company owns many brands such as Lua Moi, Nep Moi, Vodka Ha Noi and provides hand sanitizers, 70% alcohol...

In the 2000s, this brand occupied a large share of the Northern alcohol market and was the largest vodka producer in Vietnam, earning hundreds of billions of dong in profits each year. However, after the alcohol smuggling scandal in 2012, Halico fell into crisis.

Source: https://nld.com.vn/chua-kip-mung-chu-hang-ruou-vodka-ha-noi-lai-chim-trong-lo-196251026090914537.htm