Haxaco reports revenue growth and proposes share buyback

Hang Xanh Automobile Service Joint Stock Company (Haxaco) reported a 29% increase in net revenue to 4,048.1 billion VND for the first nine months of 2026. While net profit after tax reached 40.8 billion VND, compared to 1.01 billion VND in the same period of 2025, the company's core business operations recorded a loss of 101.8 billion VND. This loss was offset by 160.9 billion VND in other income, primarily driven by 146.2 billion VND in business support and discounts from vehicle suppliers.

To restructure its capital, Haxaco has submitted a proposal to shareholders to repurchase 4.5 million shares, representing approximately 4.19% of outstanding stock. The buyback, intended to reduce charter capital, will be funded by undistributed post-tax profits with a maximum price of 10,000 VND per share. The execution is expected between the fourth quarter of 2026 and the end of 2027.

Additionally, Haxaco recently approved a 25 billion VND loan to its subsidiary, Vietnam Future Group, to support working capital and investment activities.