Vĩnh Hoàn Joint Stock Company (HoSE: VHC) recently published its financial report for Q4 2024, showing clear signs of recovery and marking the return of growth momentum after a challenging period for the seafood industry.
In the last quarter of 2024, Vĩnh Hoàn reported a revenue of VND 3,205 billion, up 34% compared to the same period last year. Additionally, the company also recorded VND 148 billion in financial income, a 87% increase.
On the other hand, Vĩnh Hoàn's expenses in Q4 2024 saw a significant rise compared to Q4 2023. Specifically, financial expenses reached VND 49 billion, and administrative expenses amounted to VND 137 billion, increasing by 14% and 47%, respectively, compared to the previous quarter.
After deducting these expenses, Vĩnh Hoàn, the largest pangasius exporter, reported a profit of VND 440 billion, a 4.8-fold increase compared to the same period last year. This is the highest profit the company has seen in the past six quarters. Explaining the profit increase, the company stated that the growth was due to improved prices of pangasius products and higher production volume.
For the whole year of 2024, Vĩnh Hoàn recorded a revenue of VND 12,535 billion and an after-tax profit of VND 1,310 billion, representing increases of 25% and 34%, respectively, compared to 2023.
In 2024, Vĩnh Hoàn set two business scenarios: a basic scenario and an optimistic scenario. For the basic scenario, Vĩnh Hoàn aimed for revenue of VND 10,700 billion and an after-tax profit for the parent company of VND 800 billion. In the optimistic scenario, the company expected revenue of VND 11,500 billion and after-tax profit of VND 1,000 billion.
Thus, by the end of 2024, Vĩnh Hoàn had exceeded its profit targets for both business scenarios.
Regarding the company's business situation, as of December 31, 2024, Vĩnh Hoàn's total assets reached VND 12,249 billion, a 3% increase compared to the beginning of the year. Of this, cash and cash equivalents increased 2.3 times to VND 570 billion.
Additionally, the company's term deposits reached VND 2,220 billion, an increase of 15% compared to the beginning of the year. By the end of 2024, Vĩnh Hoàn's inventory value stood at VND 2,911 billion, a 22% decrease compared to the start of the period.
As for the capital structure, Vĩnh Hoàn's liabilities slightly decreased to VND 3,247 billion. Although short-term loans increased by 5%, from VND 2,157 billion to VND 2,277 billion, the company no longer had any long-term loans, whereas it had over VND 101 billion at the beginning of the year.
On the market front, the Vietnam Association of Seafood Exporters and Producers (VASEP) reported that pangasius prices in Vietnam have surged at the beginning of 2025 due to limited supply.
Currently, pangasius prices are at their highest level in the past three years. Specifically, pangasius weighing more than 1.2 kg reached VND 32,440 per kg, the highest recorded since 2022.
VASEP predicts that 2025 will be a year of new milestones for pangasius exports. Exports to the United States will be particularly favorable, as on January 17, 2025, Vietnam and the United States signed a bilateral agreement to remove the anti-dumping tax on pangasius fillets exported from Vietnam.
As a result, Vĩnh Hoàn has been removed from the scope of the anti-dumping tax on pangasius and basa exports to the United States. This agreement to resolve the anti-dumping tax dispute opens up significant opportunities for Vĩnh Hoàn and Vietnam's pangasius industry, helping to expand exports to the U.S. market with high-quality and sustainable products.
(vasep.com.vn) On November 11, 2026, in Can Tho, the Vietnam Association of Seafood Exporters and Producers (VASEP) will organize the Vietnam Seafood Summit 2026 (VSS 2026) under the theme “Seafood Market Outlook 2027–2029: Opportunities and Headroom for Double-Digit Export Growth.”
(seafood.vasep.com.vn) Business leader Do Ngoc Tai, General Director of Tai Kim Anh Seafood Processing Joint Stock Company, was honored by the Vietnam Chamber of Commerce and Industry (VCCI) with the title “Outstanding Vietnamese Entrepreneur – Thanh Giong Cup 2026” at a ceremony celebrating Vietnam Entrepreneurs’ Day (October 13). The event took place on the evening of October 11, 2026, at the National Convention Center in Hanoi.
(vasep.com.vn) The global tilapia market is becoming increasingly segmented, not only among producing countries but also by product type and destination market. Supply is divided into groups with distinct competitive advantages: large volumes of whole fish and frozen fillets from Asia, high-value fresh fillets from Latin America, and substantial domestic consumption in several major producing countries.
(vasep.com.vn) Vietnam’s tuna exports to the UK grew in the first eight months of 2026, despite signs of slowing import demand in the market. However, sharp fluctuations in orders, competition from major suppliers, and new traceability requirements are creating challenges for Vietnamese exporters.
(seafood.vasep.com.vn) Vietnam is stepping up efforts to combat illegal fishing, protect marine ecosystems, expand digital monitoring, and develop science-based management to ensure the sea can support communities and the economy for generations to come.
(seafood.vasep.com.vn) The EU remains a critical market for Vietnamese shrimp; however, purchasing demand and import patterns are undergoing notable changes. According to Vietnam Customs data, as of September 15, 2026, Vietnam’s shrimp exports to the EU reached nearly $374 million, down 5% year-over-year and accounting for 10.7% of the country’s total shrimp export value. Meanwhile, the EU’s stotal shrimp imports through July 2026 contracted by 7% in volume, exhibiting divergent trends across Southern Europe, Northwestern Europe and Eastern Europe. These dynamics necessitate that Vietnamese enterprises closely monitor individualized market demand, rather than approaching the EU as a monolithic consumer block.
(seafood.vasep.com.vn) In the first eight months of 2026, Vietnam’s exports of surimi and fish cakes remained relatively stable year-over-year compared to 2025. Following a contraction in the initial months, export performance demonstrated improvement from June onward, peaking in August. However, the recovery has been uneven, characterized by divergent trends across major markets: robust growth was recorded in China, Japan, Malaysia, the United States, and Taiwan, whereas export volumes to South Korea, Indonesia, and select European markets contracted.
(seafood.vasep.com.vn) Pangasius remains one of Dong Thap’s key aquaculture species, with the province focusing on developing an integrated value chain covering seed production, commercial farming, deep processing and by-product utilization. The province is promoting high-tech, circular pangasius farming models featuring reduced water exchange and enhanced biosecurity, aiming to improve production efficiency and strengthen control over raw material quality.
(vasep.com.vn) Vietnam’s seafood exports in September 2026 are estimated at US$1.135 billion, up 11.9% year-on-year, bringing total exports in the first nine months of the year to US$9.103 billion, up 11.4%. Behind this double-digit growth, however, increasingly divergent market trends are emerging: China–Hong Kong and ASEAN posted strong growth, while the U.S., EU and Japan all recorded declines in September.
(vasep.com.vn) In the first eight months of 2026, Brazil became the largest market for Vietnamese tilapia, with export value reaching US$44 million, up 22,142% year-on-year and accounting for 49% of Vietnam’s total tilapia exports. In August alone, exports to Brazil reached US$4 million. However, behind this remarkable growth is a market that is imposing increasingly stringent requirements on imported supplies.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh
Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội
Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn
