Is LIX Doomed to Fail in Its 2024 Business Plan?

**LIX Reports 9-Month Revenue of Over VND 2,173 Billion, Aiming for a Strong Finish in Q4**

LIX’s net revenue for the first nine months reached over 2,173 billion VND, a 5% increase compared to the same period last year. Approximately 2,081 billion VND of this revenue came from the sale of by-products.

However, the cost of goods sold increased by 7%, and other expenses also showed an upward trend. Financial expenses rose by 34% due to foreign exchange losses, while management expenses increased by 20% due to additional spending on outsourced services and other costs. Selling expenses decreased, but only by 6%.

Along with an 8% decline in financial income, LIX’s net profit for the nine-month period retreated by 3% year-on-year, amounting to nearly 140 billion VND.

With these results, LIX has achieved 76% of its net revenue target and 73% of its pre-tax profit goal for 2024.

Based on the nine-month performance, LIX needs to generate approximately 699 billion VND in net revenue and 66 billion VND in pre-tax profit in Q4 to fulfill its 2024 business plan.

However, LIX’s Board of Directors approved a Q4 business plan on November 7, with lower targets: 682 billion VND in net revenue and 61 billion VND in pre-tax profit. These figures are 2% and nearly 8% lower than what is needed to meet the annual goals.

Additionally, the targeted net revenue and pre-tax profit figures represent a 6% and 4% decrease, respectively, compared to the same period in 2023.

Ha Le