Hoa Binh Construction Group Corporation (HBC), chaired by Mr. Le Viet Hai, has just announced a semi-annual report on principal and interest payments for the reporting period from January 1 to June 30, 2025.

Accordingly, this enterprise has 2 bond lots HBCH2126001 with outstanding debt of 376 billion VND and lot HBCH2225002 with outstanding debt of 12.4 billion VND. Hoa Binh Construction Group has paid full interest for the first 6 months of the year for lot HBCH2225002. However, with lot HBCH2126001, HBC only paid nearly 10.2 billion VND in interest for the first quarter.

Hoa Binh Construction said it has not yet arranged funds to pay interest on a batch of bonds HBCH2126001 with a total interest of more than VND10.2 billion for the second quarter and the company is negotiating with investors.

Hoa Binh Construction Group Corporation also reported on the implementation of the issuing enterprise's commitments to the owners of semi-annual bonds in 2025 on the Hanoi Stock Exchange (HNX). However, HNX did not publish the attached file on the website.

HBC2025Quy1 HNX.jpg
HBC still has many debts to banks and bonds. Source: Quarter 1 Financial Statement

HBC, like many other domestic construction companies, has faced many difficulties in the past few years. HBC returned to profit in 2024 after two years of heavy losses. However, profits remain low, revenue has also declined and there is still a debt burden from the Covid-19 pandemic to the economic recession and the slowdown of the real estate market in the past few years.

In 2024, HBC will make a profit mainly from asset liquidation.

As of the end of the first quarter of 2025, HBC had a total debt of nearly VND13.4 trillion, of which nearly VND3,600 billion were short-term loans and bonds due within one year. Last year, HBC reduced its debt by nearly VND1,500 billion. However, debt pressure still weighs heavily on the company that was once among the top in the construction industry.

Hoa Binh's two largest creditors are BIDV and VietinBank with outstanding loans of VND 1,804 billion and VND 1,297 billion, respectively, as of the end of the first quarter of 2025.

Mr. Le Viet Hai's HBC suddenly protests against being forced to delist. Mr. Le Viet Hai's Hoa Binh Construction has suddenly sent a document to HOSE expressing disagreement with being forced to delist.

Source: https://vietnamnet.vn/chua-thu-xep-duoc-nguon-tien-xay-dung-hoa-binh-cham-tra-lai-trai-phieu-2423213.html