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In a market environment oscillating around record highs, HRC stock of Hoa Binh Rubber Joint Stock Company continued to trade in a limit-up state in the morning session on May 11, 2026, marking three consecutive limit-up sessions. After three trading sessions, HRC's price had risen about 22%, to 42,100 dong per share. Although liquidity remained modest overall, trading activity in recent sessions has clearly improved, with matched volumes rising to tens of thousands of shares. Not a name that stands out on the market, but HRC had attracted attention earlier this year with a lengthy streak of limit-ups lasting dozens of sessions. The stock price then rose from around 25,000 dong per share to nearly 100,000 dong per share in less than three months. Thus, despite the rebound, this price level remains far below the old peak set earlier in the year. The rally was driven by expectations related to the restructuring plan and a reduction in state ownership at Vietnam Rubber Industry Corporation (ticker: GVR) – the controlling shareholder currently holds 55.06% of Hoa Binh Rubber's equity. Returning to operations, HRC's current rally came after the company reported solid first-quarter 2026 results. According to its financial statements, net revenue reached VND 95 billion, up 2.5 times from the same period a year earlier, with revenue from rubber contributing VND 94 billion. After deducting cost of goods sold, gross profit reached VND 15 billion, up twofold from the same period last year. After expenses, the company posted net profit after tax of VND 7 billion, up fivefold from Q1 2025. In the first quarter, extraction production reached 435 tons, while processing production reached 747 tons. In March 2026, the company temporarily halted latex tapping as the plantation entered the leaf-fall phase. Cumulative Q1 extraction production reached 388 tons, equivalent to 11.44% of the annual plan. The volume sold reached 1,857 tons, corresponding to revenue in billions of dong.
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