Quoc Cuong Gia Lai makes extraordinary profits with strong revenue increase in the second quarter of 2025

(NLDO)- Under the management of businessman Nguyen Quoc Cuong, Quoc Cuong Gia Lai has achieved a sudden increase in revenue and plans to change its name.

The recently announced financial report for the second quarter of 2025 of Quoc Cuong Gia Lai Joint Stock Company (Quoc Cuong Gia Lai -QCG) shows net revenue of 131 billion VND, a sharp increase of nearly 395% over the same period last year.

Accordingly, most of this contribution comes from real estate product sales, growing 47 times from just over VND 2 billion in the same period last year to VND 97 billion in the second quarter of 2025. After deducting expenses, Quoc Cuong Gia Lai's net profit is VND 2.5 billion, far exceeding the loss of more than VND 17 billion in the same period last year.

In the first 6 months of the year, Quoc Cuong Gia Lai's net revenue reached over 242.5 billion VND, an increase of nearly 3.7 times compared to the same period last year. Profit after tax reached over 10.7 billion VND, while in the same period last year, it lost over 16.6 billion VND.

Since mid-2024, Mr. Nguyen Quoc Cuong has replaced his mother, Ms. Nguyen Thi Nhu Loan, to run Quoc Cuong Gia Lai as general director, even though he is running his own corporation, C-Holdings.

Quoc Cuong Gia Lai's project in Da Nang

At the recent shareholders' meeting of Quoc Cuong Gia Lai, Mr. Nguyen Quoc Cuong said that regarding the debt of 2,882 billion VND at Sunny Island Investment Joint Stock Company (related to the case of Ms. Truong My Lan, Van Thinh Phat Group), from the second quarter of 2025, Quoc Cuong Gia Lai will begin to gradually pay according to the court's decision to complete within 2 years.

By the end of June, Quoc Cuong Gia Lai's total assets reached nearly VND9,500 billion. The value of inventories was VND1,200 billion. At the Bac Phuoc Kien project, the company recorded unfinished production and business costs of VND5,420 billion.

Mr. Cuong said that the company has many housing projects to supply to the market. These include projects in Da Nang City, projects on National Highway 13 (HCMC)... According to Mr. Cuong, with current total assets, large land fund and gradually completed legal documents, Quoc Cuong has enough conditions to borrow from banks, issue bonds, or call for more investment capital. He also believes that Quoc Cuong Gia Lai's operations will be much better from the end of 2025.

In addition, this year, Quoc Cuong Gia Lai will also change its name.

Source: https://nld.com.vn/quoc-cuong-gia-lai-lai-dot-bien-196250802173518901.htm