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Mixed picture at Hoa Binh Construction: revenue rebounds, profit and cash flow decline

Hoa Binh Construction (HBC, UPCoM) reported Q3 2026 consolidated net revenue of 1,476.4 billion dong, up 31.5% year on year, driven by construction services and real estate sales. However, Q3 net profit was only 12.8 billion dong, down 93.2%, mainly as financial expenses rose and financial income fell, with a reversal of a bad-debt provision of 83.9 billion dong offsetting administrative costs. Nine-month net profit reached 62.8 billion dong, down 73.8%, equal to 25.1% of the full-year target of 250 billion dong. Operating cash flow for the nine months was 196.1 billion dong, down 83.3%, mainly from higher payables rather than core collections; excluding that, operating cash flow would be about negative 934 billion dong.

Summary written by Upside AI from the original article. Read the source for full details.

Original headline: Bức tranh trái chiều của Xây dựng Hòa Bình: Doanh thu khởi sắc, dòng tiền và lợi nhuận sụt giảm

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