Specifically, L14 recorded just over 1 billion VND in net revenue during Q3/2025, a 95% decline compared to the same period last year, primarily due to reduced revenue from goods exchange activities. Gross profit consequently dropped by 94%, reaching nearly 1 billion VND.
A bright spot for the company came from financial activities, with revenue increasing by 46% to nearly 4 billion VND, driven by higher interest income from deposits and securities investments. Additionally, financial expenses were reversed by nearly 6 billion VND, thanks to a provision reversal of over 6.2 billion VND for investment impairments.
Not only financial expenses but also selling and administrative costs were significantly reduced by L14, by nearly 100% and 64%, respectively. As a result, L14 achieved an after-tax profit of nearly 8 billion VND, a 4% increase.
Combined with the first half-year results, the company’s nine-month after-tax profit reached 21 billion VND, a 31% year-on-year increase. Notably, L14 has surpassed its 2025 target of 20 billion VND in after-tax profit by over 5%.
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Business results of L14 in the first nine months of 2025. Unit: Billion VND
Source: VietstockFinance
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As of September 30, 2025, L14‘s total assets reached nearly 644 billion VND, a 3% increase from the beginning of the year. Within this, the value of trading securities rose by 23% to nearly 86 billion VND, while provisions related to this category narrowed from over 18 billion VND to nearly 9 billion VND. Conversely, short-term cash holdings decreased by 4% to 160 billion VND.
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Trading securities portfolio of L14 as of June 30, 2025
Source: 2025 Semi-annual Financial Report
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Liabilities remained nearly unchanged at approximately 197 billion VND. However, outstanding loans decreased by 53% to over 8 billion VND. In contrast, customer prepayments increased by 32% to more than 68 billion VND.
– 16:58 22/10/2025
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