Sun Group reports increased profits.

Sun Group has just announced a net profit after tax of over VND 848.9 billion in 2024, a 2.5-fold increase compared to 2023. This figure has been corrected by the group, instead of the loss of thousands of billions of VND as previously reported.

A project developed by Sun 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, a 2.55-fold increase compared to the previous year.

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

The report also stated that the group's equity at the end of 2024 reached VND 13,274 billion, an increase of 5% compared to the end of 2023.

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

On the balance sheet, Sun Group's liabilities at the end of last year stood at VND 29,980 billion, a slight decrease after a year.

In the debt structure, bank loans account for VND 9,355 billion, while bond debt is VND 3,300 billion. Other liabilities account for the largest share, at VND 17,324 billion.

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

The ratio of total corporate bond debt to equity is 0.25 times.

Sun Group's financial statements have been audited by AASC Auditing Firm Co., Ltd.

Notably, all the above-mentioned figures regarding Sun Group's profits, debt, and equity are included in the report that was recently corrected when submitted to the regulatory authorities.

A few days ago, the corporation submitted a report showing a loss of 1.128 trillion VND and outstanding debts of over 46 trillion VND.

Sun Group is a company chaired by Mr. Dang Minh Truong, a founding member of the board of directors. Recently, the group has commenced construction on and proposed participation in several large-scale projects.

In mid-May this year, Sun Group commenced construction on the 3 Tháng 2 Street urban area project on the Vung Tau coast, one of the largest and most significant mixed-use urban developments in Ba Ria - Vung Tau province to date. The project covers 96 hectares and has a total investment of nearly 37,000 billion VND.

In addition to its strengths in resorts, real estate, and entertainment, Sun Group has also implemented and continues to propose participation in many large-scale infrastructure projects.

Last year, the corporation submitted a document providing feedback on the proposed plan for adjusting the master plan of Ho Chi Minh City until 2040, with a vision to 2060. It suggested building a 78.2km long riverside road along the Saigon River from Cu Chi to Can Gio Bridge with 8-10 lanes, instead of just 3-4 lanes.

Previously, the company had numerous infrastructure investment projects such as the Van Don - Mong Cai expressway, with a total length of 80.23km and a total investment of nearly 12,771 billion VND; and Van Don International Airport - Vietnam's first privately owned airport, operating with a phase 1 capacity of approximately 2.5 million passengers per year...

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