Da Nang Rubber CEO prosecuted for embezzlement

Le Hoang Khanh Nhut, a member of the Board of Directors and General Director of Da Nang Rubber Joint Stock Company (DRC), has been prosecuted for “embezzlement of property.” The Da Nang People's Procuracy approved the decision to prosecute Nhut following an investigation by the Da Nang Police Security Investigation Agency.

Following the announcement, the company's Board of Directors passed a resolution to dismiss Nhut from his position as General Director and terminate his status as the legal representative.

In its Q3 2026 financial report, DRC recorded a net revenue of over 1,048 billion VND, a 15% decrease compared to the same period last year. While gross profit rose 6% to 175 billion VND due to lower cost of goods sold, net profit after tax fell 64% year-on-year to approximately 15 billion VND. For the first nine months of 2026, the company reported a total net profit after tax of 63 billion VND, down 23% from the 82 billion VND recorded during the same period in 2025.