“Searefico Plans to Sell Nearly 2 Million Treasury Shares to Boost Capital”

Searefico Joint Stock Company (SRF on HoSE) has just announced the resolution of its Board of Directors regarding the approval of the plan to trade the company’s treasury shares.

Accordingly, Searefico intends to sell 1.78 million treasury shares through matching or agreement orders, ensuring compliance with Circular 120/2020/TT-BTC. The expected execution time is in the fourth quarter of 2025.

With a selling price of no less than VND 13,000 per share, the company expects to raise a minimum of VND 23.14 billion, which will be used to strengthen working capital for business activities, optimize capital structure, asset portfolio structure, and improve capital efficiency.

In terms of business results, according to the consolidated financial statements for the first quarter of 2025, Searefico recorded net revenue of nearly VND 148.6 billion, down 45.2% over the same period last year. After deducting cost of goods sold, gross profit was negative VND 35.8 billion, while the same period last year reported a profit of over VND 16.5 billion.

In this quarter, the company recorded more than VND 152.5 billion in financial revenue, 95.3 times higher than the same period last year. Accordingly, financial expenses increased slightly from nearly VND 8.2 billion to over VND 9.9 billion; selling expenses were at over VND 161.8 million, up 57.9%; and management expenses were over VND 67.4 billion, up 352.3%.

After deducting taxes and fees, Searefico reported a net profit of nearly VND 9.3 billion, 14.6 times higher than the net profit of over VND 636.7 million in the first quarter of 2024.

As of March 31, 2025, the company’s total assets increased slightly by VND 35.1 billion from the beginning of the year to nearly VND 1,630.3 billion. Short-term receivables accounted for 39.8% of total assets, at nearly VND 648.2 billion; inventory was over VND 354.4 billion, accounting for 21.7% of total assets.

On the other side of the balance sheet, total liabilities were at over VND 1,182.9 billion, a slight increase of VND 21.5 billion from the beginning of the year. Of this, loans and finance leases were nearly VND 392.7 billion, accounting for 33.2% of total debt; short-term payables to suppliers were nearly VND 422.5 billion, accounting for 35.7% of total debt.

Also, as of the end of the first quarter of 2025, Searefico’s charter capital was at nearly VND 355.7 billion. In which, Sanyo Vietnam Technical and Construction Company Limited contributed VND 71.5 billion (20.1% ratio); Vietnam Fisheries General Corporation contributed nearly VND 45.7 billion (12.85% ratio); Taisei Oncho Co., Ltd. contributed nearly VND 89.1 billion (25.05% ratio); other shareholders contributed VND 131.6 billion (37% ratio); and treasury shares were valued at VND 17.8 billion (5% ratio).