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Vicostone Corporation (VCS) reported Q1 2026 net revenue of 744 billion VND and consolidated pre-tax profit of 150 billion VND, representing year-on-year declines of 27% and 24%, respectively. The company attributed the results to unfavorable macroeconomic conditions and said it has implemented targeted actions across key markets including the United States, Canada, Europe, and Australia.
Vicostone said it is applying flexible sales policies, providing partner support, expanding distribution networks, broadening customer segments, and diversifying markets to manage demand conditions in its export destinations.
In Australia, the company reported that by the end of Q1 2026 it operated three warehouses and showrooms in major cities, including Sydney, Melbourne, and Brisbane.
The company continues research and development activities aimed at creating new, unique designs tailored to aesthetics and market preferences in each region. It also noted that natural stone pattern products remain competitive in key markets.
Vicostone reported that inventory value as of Q1 2026 decreased from 1,659 billion VND to 1,601 billion VND. The company also said its accounts receivable declined by 117 billion VND compared with the beginning of the year.
Total cash, cash equivalents, and short-term financial investments stood at 2,182 billion VND, up 30.22% from the beginning of the year.
Vicostone is among Vietnam’s leading exporters of artificial stone. The company is associated with Ho Xuan Nang (born 1964), Chairman of the Board. According to the 2025 list of professor and associate professor candidates published by the State Council for Professorship, Prof. Dr. Ho Xuan Nang achieved professor status in 2025.
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