Fecon CorporationHOSE: FCN

Explanation for Variances in Profit After Tax Q2.2025

· Issued by Fecon Corporation
FECON CORPORATION

-----o0o-----

No: 365/2025/CV-TCKT.FECON

V/v: Explanation for Variances in Profit After Tax of the Consolidated and Parent Company Financial Statements for Q2/2025

SOCIALIST REPUBLIC OF VIETNAM INDEPENDENCE - FREEDOM - HAPPINESS

-----o0o-----

Ha Noi, July 30, 2025

To: - STATE SECURITIES COMMISSION OF VIETNAM
  • HOCHIMINH STOCK EXCHANGE
  • SHAREHOLDERS AND INVESTORS

Company Name : FECON CORPORATION

Head Office : 15th Floor, CEO Tower, Lot HH2-1, Me Tri Ha Urban Area, Pham Hung Street, Tu Liem Ward, Hanoi, Vietnam.

Stock Code : FCN

FECON CORPORATION ("FECON") hereby provides an official explanation regarding the discrepancy in the post-corporate income tax profit figures in the Consolidated and Parent company income statements between Q2/2025 and Q2/2024 as follows:

Indicator

Q2/2025

Q2/2024

Change (Q2/2025 vs. Q2/2024)

Variance (VND)

Percentage Change (%)

Profit After Tax (Parent Company)

15.659.146.222

3.934.001.755

11.725.144.467

298,05%

Profit After Tax

(Consolidated)

16.040.140.634

714.790.356

15.325.350.278

2144,03%

The Parent Company's profit after corporate income tax increased by VND 11,73 billion, equivalent to a 298,05% increase, mainly due to a significant rise in revenue compared to the same period (198.18%).

The increase was attributable to the fact that in 2025, the Parent Company signed numerous contracts and executed a much higher volume of work and revenue in Q2 compared to the same period last year. Revenue was primarily derived from major projects including the My Thuy Port Project, the Lach Huyen Port Project, and the Metroline Project…

Consolidated profit after corporate income tax increased by VND 15,33 billion, equivalent to a 2,144.03% increase compared to the same period last year.

The primary reason was that the total system-wide revenue in Q2/2025 rose sharply by 162,55% compared to Q2/2024. The strong revenue growth led to a significant increase in the Group's gross profit. Although accompanying expenses, including financial expenses, administrative expenses, and selling expenses, also rose, profit after tax still recorded a substantial increase compared to the same period last year.

Yours sincerely!

Recipients:

  • As addressed above;

  • Internal archives: Finance & Accounting Department, Office.

COMPANY REPRESENTATIVE


2