Provision for more than 34 billion VND of VHM shares

As of September 30, 2024, NDN is setting aside more than VND 38 billion in provisions, of which the provision for investment in VHM shares is VND 34.37 billion. The original value of Nha Da Nang 's investment in VHM is more than VND 160 billion.

According to the financial report of the third quarter of 2024 of Danang Housing Development Investment Joint Stock Company, the company is recording a short-term financial investment of 630 billion VND, accounting for more than half of the total assets (1,277 billion VND). Of which, 490 billion VND is investment in trading securities and 177 billion VND is investment held to maturity, mainly term deposits...

Danang House's investment portfolio as of the end of the third quarter of 2024.

NDN's investment portfolio has a fair value of 487 billion VND, the large proportion is the investment in VHM with an original investment cost of more than 160.3 billion VND, the fair value is 126 billion VND, so a provision of 34 billion VND is temporarily set aside. The second largest proportion in the portfolio is the investment in HPG shares with an original investment cost of 103.6 billion VND, a temporary profit of more than 13 billion VND.

NDN's profitable investments also include STB, TCB, BSR ...

At the end of the third quarter of 2024, revenue was recorded at VND 23.7 billion, down 57.8% over the same period. Gross profit was VND 11.4 billion.

During the period, financial revenue decreased by VND25 billion, but financial expenses increased to VND31 billion due to a loss in securities investment of VND61 billion and a provision for devaluation of trading securities of VND34 billion.

As a result, profit after tax was more than 2 billion VND, down sharply by 92.5% over the same period.

In the first 9 months of the year, NDN recorded revenue of VND 47.7 billion, down 87%, mainly due to real estate transfer revenue of more than 35%, down 90%. Profit after tax reached nearly VND 42 billion, down 78.6% compared to the same period in 2023, completing 68.4% of the 2024 profit plan.

Source: https://baodautu.vn/nha-da-nang-trich-lap-du-phong-hon-34-ty-dong-co-phieu-vhm-d228011.html