News about Giai Phong Automobile

Ô tô Giải Phóng posted a net loss of VND 14.6 billion in the first nine months of this year, extending its streak of losses to 15 consecutive years. Revenue for the period fell 98% year on year to VND 1.4 billion, leaving gross profit at minus VND 3.7 billion as the company sold below cost. The same period last year saw a loss of VND 10.8 billion. Revenue for 2025 was about VND 115 billion, yet the company still lost nearly VND 15 billion, which management attributes to selling inventory from 2022 below cost and high financing costs. The company issued 20 million private shares to raise VND 200 billion this year, but redirected the funds from electric vehicle assembly into a real estate investment partnership.