Sun Group reports increased profits

A project developed bySun Group - PHOTO: SG

The latest financial report of Sun Group Joint Stock Company shows that after-tax profit in 2024 reached VND 848.9 billion, 2.55 times higher than the previous year.

Despite the sharp increase, Sun Group's profit is still far from the figure of nearly 1,700 billion VND achieved in 2022.

The report also said that the group's equity at the end of 2024 reached VND13,274 billion, an increase of 5% compared to the end of 2023.

Of which, the owner's investment capital accounts for 10,827 billion VND, the remaining 2,233 billion VND is undistributed profit after tax.

On the balance sheet, Sun Group's liabilities at the end of last year were VND29,980 billion, a slight decrease after one year.

In the debt structure, bank loans account for VND9,355 billion, and bond loans account for VND3,300 billion. Other payable debts account for the largest amount, at VND17,324 billion.

Thus, Sun Group's debt to equity ratio is at 2.26 times.

The ratio of total outstanding corporate bonds to equity is 0.25 times.

Sun Group's financial statements have been audited by AASC Auditing Company Limited.

Notably, all of the above indicators on profit, debt, and equity of Sun Group are in the report that has just been corrected when sent to the management agency.

A few days ago, this group submitted a report with a negative profit of 1,128 billion VND, with a debt of more than 46,000 billion VND.

Sun Group is a company chaired by Mr. Dang Minh Truong, a founding member of the board of directors. Recently, this group has started and proposed to participate in many large projects.

In mid-May this year, Sun Group started the 3 Thang 2 Street urban area project on the coast of Vung Tau, one of the key complex urban areas with the largest scale and stature of Ba Ria - Vung Tau province to date. This project has a scale of 96 hectares, and a total investment of nearly 37,000 billion VND.

In addition to its strong focus on resorts, real estate, and entertainment, Sun Group has also implemented and continues to propose participating in many large infrastructure projects.

Last year, the group submitted a document with ideas for the project to adjust the general planning of Ho Chi Minh City until 2040, with a vision to 2060, in which it proposed to build a road along the Saigon River from Cu Chi to Can Gio Bridge, 78.2km long, with 8-10 lanes, instead of just 3-4 lanes.

Previously, the enterprise had many infrastructure investment projects such as Van Don - Mong Cai expressway with a total length of 80.23km and a total investment of nearly 12,771 billion VND; Van Don international airport - the first private airport in Vietnam, operating with a phase 1 capacity of about 2.5 million passengers per year...

Source: https://tuoitre.vn/sun-group-bao-lai-tang-20250518171553289.htm