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.

The financial report for the third quarter of 2025 of Hanoi Alcohol and Beverage Joint Stock Company (Halico, stock code: HNR) shows that net revenue reached more than 23.6 billion VND, an increase of 6.1% over the same period last year. Of which, alcohol products accounted for 91% of the revenue structure.

Cost of goods sold increased by 4.7% compared to the same period last year, while financial revenue increased by 25%, reaching VND1.5 billion - mainly thanks to interest on bank deposits. As of the end of the third quarter, Halico had more than VND135 billion in bank deposits.

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

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 (same period negative 7.4 billion VND).

Halico shares have remained at VND12,000 for many years. Source: Fireant

This result is considered a step back for Halico when previously, the enterprise recorded a net profit of nearly 700 million VND in the first 6 months of 2025 - the first semi-annual profit since 2016. However, this profit mainly came from asset liquidation, not core business activities.

This shows that the recovery picture of this business still has 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 almost "frozen" at 12,000 VND/share for over 5 years, with no transactions.

The concentrated shareholder structure is said to be the reason why this stock has no liquidity, when Hanoi Beer - Alcohol - Beverage Corporation ( Habeco ) holds 54.29% of 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