Group of tycoon Dao Huu Huyen contributes another 500 billion to real estate company

Duc Giang Chemical Group Joint Stock Company (stock code: DGC) has just announced the resolution of the Board of Directors on approving the increase of charter capital for Duc Giang Real Estate Company Limited (Duc Giang Real Estate).

Accordingly, this company will increase its charter capital from VND500 billion to VND1,000 billion, through the form of Duc Giang Chemical Group contributing additional capital in cash. The representative of this group's capital at Duc Giang Real Estate is Mr. Dao Huu Huyen. Mr. Huyen is currently the Chairman of the Board of Directors of Duc Giang Chemical Group. It is expected that the capital increase will take place in the second quarter of 2025.

This capital increase is considered a step to realize the plan that Duc Giang Chemicals announced at the 2025 Annual General Meeting of Shareholders. The Group approved the investment policy and approved the investor for the project "Duc Giang Public Works, School and Housing Complex".

The project is named Duc Giang Residence, located at 18/44 Duc Giang Street, Thuong Thanh Ward, Long Bien District. The project includes 1,000 apartments and 60 townhouses.

Chairman of the Board of Directors of Duc Giang Chemical Group (Photo: IT) .

Mr. Dao Huu Huyen shared that the group has waited 5 years to be licensed to implement the project and approved the 1/500 planning. The project is estimated to bring in more than 5,000 billion VND in revenue and about 1,000 billion VND in profit.

Duc Giang Real Estate was established in February 2021. The legal representative is Mr. Ninh Ngoc Cu.

In the first quarter, Duc Giang Chemicals recorded VND2,810.3 billion in net revenue, up 17.8% over the same period last year. The reason was that all business product lines grew strongly. Of which, revenue from all types of fertilizers increased by 19%, revenue from DAP increased by 37%, revenue from washing powder and detergents increased by nearly 15%, revenue from yellow phosphorus and H3PO4 increased by 13%.

After deducting expenses, the company recorded after-tax profit of VND 836.8 billion, an increase of 18.8% over the same period in 2024.

The company also announced its plan for the second quarter with a target consolidated revenue of VND2,841.7 billion, up 15% year-on-year. The target after-tax profit is VND809 billion, down 8%.

Regarding revenue structure, the majority of the proportion still comes from yellow phosphorus products. In addition, revenue from some products such as DAP fertilizer, MAP, HPO phosphoric acid (85%) is estimated to range from 200-300 billion VND.

Source: https://fica.dantri.com.vn/bat-dong-san/tap-doan-dai-gia-dao-huu-huyen-gop-them-500-ty-cho-cong-ty-bat-dong-san-20250514130648151.htm