In Q3 2025, LIX reported net revenue of VND 780.6 billion, marking an 8.8% increase compared to the same period in 2024. However, rising costs have eroded profitability. The cost of goods sold surged by 10% to VND 613.4 billion, while selling expenses spiked by 26% year-over-year, reaching nearly VND 74 billion.
As a result, LIX’s after-tax profit for Q3 2025 stood at VND 45.5 billion, reflecting an 8.3% decline from the VND 49.6 billion recorded in Q3 2024.
For the first nine months of 2025, LIX’s net revenue reached VND 2,158.7 billion, a slight 0.7% decrease compared to the same period in 2024. Despite this, gross profit increased by 1.25% to VND 485.2 billion, driven by a faster decline in the cost of goods sold relative to revenue.
Nevertheless, a 6.4% rise in selling expenses and an 11.3% increase in administrative expenses have kept the nine-month after-tax profit nearly flat at VND 140.5 billion, a marginal improvement from the VND 139.5 billion recorded in the same period last year.
With these nine-month results, LIX has achieved 71.5% of its full-year pre-tax profit target of VND 242 billion.
Following the release of the nine-month results, the LIX Board of Directors set a Q4 2025 target of VND 915 billion in revenue, a 30% increase from Q4 2024. However, pre-tax profit is projected to drop sharply by 54% to VND 37 billion compared to the same quarter last year.
Based on the Q4 plan, LIX estimates full-year 2025 revenue at VND 3,074 billion, exceeding the annual target by 1%. However, full-year pre-tax profit is expected to reach only VND 210 billion, equivalent to 87% of the target approved by the Annual General Meeting.
Financially, as of September 30, 2025, LIX’s total assets stood at nearly VND 1,482.4 billion, a 6% increase from the beginning of the year. Cash and cash equivalents rose by 14% to VND 427.2 billion, while inventory increased by 19% to VND 274.8 billion.
Total liabilities grew by 9% to VND 503.1 billion. Notably, LIX’s debt structure remains secure, with short-term loans holding steady at VND 55 billion. The company’s current cash reserves are 7.7 times higher than its total debt.
On the stock market, LIX shares experienced a significant rally from July 2025, peaking at VND 36,500 per share in mid-August. Since then, the stock price has corrected downward. As of October 27, 2025, LIX shares were trading between VND 33,000 and VND 34,000 per share, a 9% decline from the August peak.
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