Specifically, in Q3, BAX’s net revenue reached nearly VND 24 billion, a 28% increase year-over-year. This growth was driven by approximately VND 3 billion in revenue from the sale of social housing units within the service center project. Additionally, revenue from wastewater treatment and clean water supply activities surged by 2.1 times and 31%, respectively.
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Breakdown of BAX’s net revenue in Q3/2025
Source: BAX
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On the cost side, the company incurred no financial or sales expenses. Management costs decreased by 25% to nearly VND 4 billion, thanks to significant reductions in raw material and outsourced service expenses.
As a result, the company’s post-tax profit exceeded VND 7 billion, a 25% increase. The performance for the first nine months of 2025 mirrored Q3, with post-tax profits surpassing VND 25 billion, up 24% year-over-year.
With this post-tax profit, BAX achieved nearly 95% of its annual profit target of VND 26.6 billion after just nine months.
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Business results for the first nine months of 2025 for BAX. Unit: Billion VND
Source: VietstockFinance
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As of September 30, 2025, BAX’s total assets stood at nearly VND 735 billion, unchanged from the beginning of the year. However, the company’s short-term cash holdings increased by 14% to nearly VND 254 billion. Conversely, construction in progress costs for the Bàu Xéo Industrial Park service center decreased by 16% to over VND 129 billion.
Total liabilities remained relatively stable at nearly VND 507 billion. The largest portion was unearned revenue, totaling over VND 475 billion, which includes advance payments for land and infrastructure leases.
– 14:13 16/10/2025
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