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A Local Beer Brand Lists on UPCoM, Offering 6 Million Shares After Two Decades of Brewing Excellence

24 May, 2025

A corner of Habeco Trading 89’s beer factory in Hung Yen – Illustrative image

Habeco Trading 89 Joint Stock Company (Habeco Trading 89) has just been approved by the Hanoi Stock Exchange (HNX) for registration of trading 6 million shares with the stock code BHH, equivalent to a registration value of VND 60 billion. Within 10 days from May 23, the Company is responsible for completing the procedure and listing BHH shares on the UPCoM system.

Previously, in late 2024, Habeco Trading 89 was confirmed by the State Securities Commission to complete the procedures for becoming a public company; and in February 2025, BHH shares were assigned a stock code by the Vietnam Securities Depository and Clearing Corporation (VSDC)

Established in 2007 in Hung Yen, Habeco Trading 89 currently has a charter capital of VND 60 billion, double the amount at its establishment. The company produces 3 main product lines: Hanoi Draft Beer (a licensed product produced under contract with Habeco), Local Beer, and Contract Beer. The factory currently has a capacity of 35 million liters/year, with approximately 5,500 sales points in both the North and South regions.

As of the end of 2024, BHH had 125 employees, a slight decrease from 134 employees at the end of 2023. However, the average income increased from VND 12.1 million to VND 12.8 million/person/month.

As of March 20, 2025, BHH had 105 shareholders, of which 5 major shareholders held a total of 59% of the capital. The largest shareholder is Vietnam Ceramic and Porcelain Joint Stock Company (20%), followed by Hanoi Beer Trading Joint Stock Company (12.5%), Hai Ha Limited Company (11.2%), Ms. Truong Thi Hoa (10.3%), and Habeco (5%).

Ms. Hoa is the mother-in-law of Mr. Nguyen Dang Toan – Chairman of the Board of Directors of BHH, who currently holds 3.09% of the capital. Ms. Hoa’s husband, Mr. Nguyen Van Viet, is also a member of the Board of Directors. In addition, the other major institutional shareholders also have representatives on the Board of Directors of BHH.

In terms of business results, in 2024, BHH’s net revenue reached VND 261 billion, up 7% over the previous year; and profit after tax reached VND 4.7 billion, up 15%. The gross profit margin improved from 25.5% to 28.5%, thanks to the decrease in the price of raw materials, especially malt.

Total assets at the end of 2024 reached nearly VND 205 billion, up 5% compared to the beginning of the year. In which, fixed assets increased by 38%, while cash and cash equivalents decreased by 45% to VND 13 billion. Payables increased by 9% to nearly VND 119 billion, mainly due to the short-term financial lease loan of more than VND 23 billion and the transfer of short-term receivables to long-term of nearly VND 54 billion.

In the period of 2022-2024, BHH maintained cash dividend payments but the rate varied, respectively 9%, 10% and 5%. In 2025, the Company sets a target of over VND 262 billion in revenue (up 1%), profit after tax of VND 5.3 billion (up 13%) and expected dividend rate of 7%.

In the first quarter of 2025, BHH recorded revenue of over VND 32 billion, achieving 12% of the yearly plan, but no profit due to seasonality. The company said it would focus on strong sales in the 5-month summer peak to complete the yearly plan.

The Manh

– 14:08 23/05/2025