A significant agricultural enterprise, Hoàng Anh Gia Lai International Agricultural Joint Stock Company (HAGL Agrico), chaired by Trần Bá Dương, is facing doubts about its ability to continue operations. This concern was highlighted by Ernst & Young Vietnam in their review of the company’s financial statements for the first half of 2026.

According to the audit report, HAGL Agrico reported a net loss of nearly 187 billion VND after the first half of 2026, leading to a cumulative loss of 13.231 trillion VND by the end of the second quarter. Moreover, the company's short-term liabilities exceeded its short-term assets by approximately 12.445 trillion VND, raising significant doubts about its operational continuity.

The audit firm noted that these conditions indicate the presence of material uncertainties that could lead to substantial doubt about the company's ability to continue as a going concern. In response to the increased loss after tax, which rose by 152 billion VND to 187 billion VND post-review, HAGL Agrico attributed the discrepancy primarily to an increase in interest expenses, which amounted to 431 billion VND during the period.

Despite these challenges, HAGL Agrico reported a 33% increase in net revenue, reaching over 289 billion VND compared to the same period last year. Additionally, profits from associated units surged to 28 billion VND, a significant rise from just 1.3 billion VND in the previous year. However, the company's total assets stood at nearly 21.795 trillion VND, reflecting an 11% increase since the beginning of the year, while cash reserves dwindled to just 7 billion VND.

Inventory levels also saw a 5% increase, totaling nearly 2.040 trillion VND. The cumulative loss has expanded to over 13.231 trillion VND, with short-term debts reaching 15.720 trillion VND, significantly outpacing short-term assets valued at 3.275 trillion VND.

As HAGL Agrico navigates these financial challenges, the scrutiny from auditors and market analysts will be critical in determining the company's future viability.