Hang Xanh Automobile Service Joint Stock Company (Haxaco, Stock Code: HAX, HoSE) has recently disclosed an unusual announcement regarding the receipt of Decision No. 1374/QĐ-XPHC dated November 13, 2025, from the Tax Authority Branch 14 of Ho Chi Minh City, concerning administrative penalties for tax violations.
According to the decision, Haxaco was found to have inaccurately declared its corporate income tax for the years 2020 and 2021, as stipulated in Clause 1, Article 142 of the Tax Administration Law No. 38/2019/QH14 dated June 13, 2019.
As a result, Haxaco has been fined approximately VND 11.1 million in administrative penalties. Additionally, the company is required to rectify the situation by paying the outstanding tax amount of nearly VND 55.3 million, along with over VND 25.7 million in late payment fees.
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The late payment fees mentioned above are calculated up to November 13, 2025. The company is responsible for calculating and paying any additional late fees from this date until the full payment of the outstanding tax and penalties is made to the State Budget as required.
In total, Haxaco is obligated to pay nearly VND 92.1 million, including the outstanding tax, penalties, and late fees, to the State Budget.
Furthermore, the company must adjust the value-added tax (VAT) carryforward amount by VND 803,728.
Regarding business performance, in the first nine months of 2025, Haxaco reported a net revenue of approximately VND 3,137.2 billion, a 15% decrease compared to the same period in 2024. The after-tax profit stood at just over VND 1 billion, a significant 99% decline year-on-year.
As of September 30, 2025, Haxaco’s total assets slightly decreased by 2% from the beginning of the year, amounting to over VND 2,360 billion. Cash and cash equivalents dropped by 55%, reaching VND 117.7 billion. Conversely, inventory increased by 23% to VND 812.2 billion.
Additionally, the company recorded investment real estate valued at over VND 542 billion, representing the transfer of land use rights on Vo Van Kiet Street, Ward 3, Ho Chi Minh City.
On the liabilities side, total payables stood at over VND 1,001.6 billion, a 9% increase from the beginning of the year. Short-term loans and finance lease liabilities accounted for nearly 72% of the total debt, amounting to VND 718.5 billion.
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