According to its recently released third-quarter financial report, Duc Giang Chemical Group Joint Stock Company (stock code: DGC) recorded net revenue of VND 2,816 billion, an increase of over 10% compared to the same period last year.
As of September 30th, the company's cash and deposits totaled over VND 13.1 trillion, a 7% increase compared to the second quarter. Compared to the beginning of the year, this figure has increased by 23% and currently accounts for approximately 67% of total assets. Thanks to this cash, the company earned VND 447 billion in interest over the nine months, equivalent to an average of VND 1.6 billion per day.
Duc Giang's financial revenue in the third quarter also reached over 192 billion VND, an increase of 27% compared to the same period last year. After deducting taxes and expenses, the company reported a net profit of 804 billion VND, an increase of 9%.
For the first nine months of the year, the company's net revenue reached VND 8,521 billion, a 14% increase compared to the same period last year. Duc Giang Chemicals' net profit reached VND 2,403 billion, a 7% increase compared to the same period last year.
Duc Giang Chemicals maintains a policy of depositing cash in banks to mitigate risks and await opportunities in the chemical industry (Photo: DT).
The company's total liabilities also increased by 61% compared to the beginning of the year, reaching VND 3,413 billion. Of this, short-term loans and financial lease liabilities recorded a dramatic increase of 127%, reaching VND 1,960 billion.
This year, the company's management has set a revenue target of VND 10,385 billion, an increase of over 5% compared to last year, while after-tax profit is expected to decrease slightly by 3%, to VND 3,000 billion. Thus, the company led by Chairman Dao Huu Huyen has already achieved over 80% of its revenue and profit targets after 9 months.
At the annual general meeting earlier this year, Chairman of the Board of Directors Dao Huu Huyen stated that Duc Giang Chemicals always maintains a policy of depositing a large amount of money in banks, instead of investing in stocks, real estate, or cryptocurrencies.
He stated that the company intends to keep a large amount of money in the bank to await opportunities to invest in new "powerful ventures" in the chemical industry.
Mr. Huyen shared at the conference that many financial companies had advised using idle money to buy bonds, cryptocurrencies, or real estate with returns of tens, even hundreds of percent. However, he disagreed, fearing the risks.
Source: https://dantri.com.vn/kinh-doanh/tu-choi-bat-dong-san-hoa-chat-duc-giang-gui-nui-tien-tai-ngan-hang-20251026175921421.htm
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