PAN Group loses VND 147 billion in profit from partnerships, its quarterly profit drops 22% compared to the same period last year.

According to published information, in the third quarter of 2025, PAN Group Joint Stock Company (stock code: PAN) recorded a slight increase of 1.1% in net revenue compared to the same period last year, reaching VND 5,138 billion. The cost of goods sold increased less than the increase in revenue, resulting in an improved gross profit of VND 1,015 billion.

During the period, financial revenue decreased by 12% to VND 134.1 billion, financial expenses decreased by 48.9% to VND 124.15 billion, and selling and administrative expenses increased by 7.6% to VND 721.14 billion.

Pan Group focuses on developing high-quality, traceable agriculture and food products.

In the third quarter, the group no longer recorded any profit from its joint ventures and associated companies, compared to VND 147 billion in the same period last year. As a result, PAN Group reported a 22% decrease in after-tax profit to VND 266 billion.

For the first nine months of the year, PAN Group's consolidated net revenue reached nearly VND 13,285 billion, an 11% increase compared to the same period in 2024. After-tax profit edged up slightly by 0.5% to VND 724 billion, and net profit increased by 11% to nearly VND 403 billion in the nine months.

In 2025, PAN Group plans to achieve revenue of VND 17,256 billion and after-tax profit of VND 1,210 billion. Thus, after the first nine months of 2025, with after-tax profit reaching VND 724.3 billion, PAN Group has completed 59.9% of its annual plan.

In terms of asset size, as of September 30, 2025, the total assets of PAN Group decreased by 25% compared to the beginning of the year, reaching VND 17,886 billion. Of this, the main asset recorded was VND 6,305.9 billion in cash and short-term financial investments, accounting for 35.3% of total assets.
In addition, the company also owns 3,906 billion VND in fixed assets, accounting for 21.8% of total assets.

Inventory increased by 21.3% year-on-year, reaching VND 3.771 billion. Long-term work-in-progress assets increased by 29.8% year-on-year, reaching VND 234.7 billion.

Notably, the decrease in assets during the period was mainly related to a 66.3% decrease in short-term financial investments compared to the beginning of the year, equivalent to a decrease of VND 7,035.1 billion, to VND 3,569 billion.

By the end of Q3 2025, total short-term and long-term debt had decreased by 45% compared to the beginning of the year, reaching VND 6,412.28 billion, equivalent to 74.1% of total equity. In addition to actively repaying loans, the company also settled other short-term liabilities.

Besides business results, in the first nine months of 2025, PAN Group also recorded a positive operating cash flow of VND 5,576 billion compared to a negative VND 4,176 billion in the same period. Additionally, during the same period, investment cash flow was negative VND 72.89 billion and financing cash flow was negative VND 5,726 billion, mainly due to debt repayment.

PAN Group is closely associated with the name of Mr. Nguyen Duy Hung , known as a "tycoon" in the securities industry and the Chairman of the Board of Directors of both SSI Securities Corporation (SSI) and PAN Group.

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