Chuong Duong Beverage Joint Stock Company (Chuong Duong Sarsaparilla, stock code: SCD) recently announced the removal of Vu Thanh Chung from his position as director and legal representative. Concurrently, chief accountant Nguyen Thuy Phuong has been appointed as his replacement. Chung's tenure lasted only about five months.
The company's board of directors made the decision one month after receiving Chung's resignation letter. In the letter, signed in mid-December 2025, Chung stated he made every effort to manage the company, hoping to gradually boost production and business activities and overcome difficulties. However, results in recent months showed little improvement.
"I accept responsibility for not fulfilling my duties," Chung wrote in his resignation letter.
According to Chuong Duong Sarsaparilla's newly released financial report, revenue for the last quarter of 2025 saw a slight increase compared to the same period, reaching nearly 50 billion VND. This revenue growth primarily came from real estate business, while core revenue from beverages decreased by more than 10%.
After deducting all expenses, the company incurred a post-tax loss of approximately 7 billion VND. This marks the 20th consecutive quarter the company has reported a loss, though the loss significantly decreased compared to the earlier quarters of the year.
In a written explanation, Nguyen Thuy Phuong, the new director of Chuong Duong Sarsaparilla, stated that the company focused on optimizing costs and improving business operations, leading to better results in the last quarter of 2025 compared to the same period. The company expects to return to profitability soon by optimizing operating costs, expanding coverage, and distribution channels to increase sales volume in the southern region and the Mekong Delta.
For the entire year, Chuong Duong Sarsaparilla recorded net revenue of 160 billion VND, a 12% decrease from the previous year, failing to meet its previously set target of 260 billion VND. The company achieved a gross profit of 41 billion VND, corresponding to a gross profit margin of nearly 26%. After deducting all expenses, the company incurred a post-tax loss of 80 billion VND, extending its losing streak to five consecutive years. This result increased cumulative undistributed losses to nearly 347 billion VND.
Chuong Duong Sarsaparilla was formerly the Usine Belgique factory, part of the B.G.I Group (France). It was the largest beverage production plant in the southern region during the late last century. The company's strength lies in carbonated beverages, with sarsaparilla being its most consistently consumed product line. Thanks to this product line, business results from 2007-2016 were consistently stable, with profits of 20-30 billion VND annually.
Chuong Duong Sarsaparilla is currently a subsidiary of Saigon Beer - Alcohol - Beverage Corporation (Sabeco). As of the end of last year, the company had total assets of 602 billion VND and debts of nearly 750 billion VND.
Phuong Dong
