Hano-vid Real Estate JSC has just sent a report to the Hanoi Stock Exchange (HNX) on its financial situation in the first half of 2024 with a profit of less than 7.9 billion VND, down nearly 81% compared to the same period last year.
The profit figure is very small compared to the equity of nearly VND 5,292 billion and total assets of more than VND 41,100 billion as of the end of June 2024.
Notably, although the equity increased insignificantly compared to the same period (from nearly VND 5,277 billion to nearly VND 5,292 billion), the liabilities of Hano-vid Real Estate JSC increased sharply, from VND 23,324 billion in the same period to VND 35,824 billion at the end of June 2024.
Outstanding bonds decreased very slightly, from nearly VND 9,657 billion in the same period last year, to nearly VND 9,578 billion by the end of the second quarter of 2024.
Hano-vid Real Estate is headquartered at 430 Cau Am, Van Phuc Ward, Ha Dong District, Hanoi. This company is famous for issuing bonds to raise money in the past few years.
In the 2020-2022 period, Hano-vid mobilized nearly VND 10,000 billion through 182 bond lots.
In particular, from July to November 2020, Hano-vid Real Estate mobilized a large amount of bonds, with 180 lots, each lot worth about 50 billion VND. In total, in just a few months, this enterprise mobilized 8,700 billion VND.
The maturity of these bonds is 5-7 years. Most of the bonds are unsecured and Maritime Bank (MSB) is the custodian.
Thus, in just over a year, Hano-vid will have to pay off most of the above bonds.
Hano-vid Real Estate JSC was established in 2010 and operates mainly in the real estate sector, with projects in Hanoi, Cao Bang, Ha Tinh, Yen Bai...
Specifically, Hano-vid and its management and development partner TNR Holdings Vietnam developed many projects, including the TNR GoldSilk Complex project in Ha Dong district, Hanoi.
In addition, there are projects in many localities, such as: TNR Star Luc Yen, Yen Bai province; TNR Star Center Cao Bang; TNR Grand Palace Son La, Son La city.
In 2021, Hano-vid became the investor of Long My 2 New Urban Area, Hau Giang Province (VND 265.8 billion); Long Van 2 Urban Area, Binh Dinh Province (VND 2,457 billion); Kep Town Center Urban Area, Lang Giang District, Bac Giang Province (VND 483.77 billion)... Previously, Hano-vid invested in residential projects in Bac Kan, Quang Ninh, Ha Tinh, Dak Nong, Long An, Phu Yen, Binh Dinh, Bac Lieu...
Meanwhile, TNR Holdings Vietnam Real Estate Development Investment Joint Stock Company (TNR Holdings Vietnam) is a member of TNG Holdings Vietnam Group, chaired by Ms. Nguyen Thi Nguyet Huong.
TNR Holdings Vietnam has many real estate projects in various segments, spanning localities from North to South. Some of the projects that have been implemented are: GoldSeason (Thanh Xuan, Hanoi), TNR Goldmark City (Bac Tu Liem, Hanoi), TNR Stars Riverside (Nam Sach, Hai Duong), TNR Stars Center Cao Bang (Hop Giang, Cao Bang), TNR Stars Thoai Son (Thoai Son, An Giang). TNR GoldSilk Complex (Ha Dong, Hanoi),…
Many projects are being implemented such as: TNR Grand Palace Thai Binh (Dong My, Thai Binh); The Ninety Complex (Dong Da, Hanoi); TNR Stars Lam Son, TNR Stars Kien Tuong, TNR Grand Palace Phu Yen, TNR Stars Dong Hai, TNR Grand Palace Son La...
Many projects are about to be deployed such as: TNR Stars Tam Vu, TNR Stars Nga Bay, TNR Stars Dong Trieu, TNR Stars Nho Quan, TNR Stars Chi Lang, TNR Stars Cao Phong, TNR Stars Phong Chau, TNR Stars Dong Mai, TNR Stars Bim Son...
In early 2024, TNG Holdings Vietnam changed its name to Rox Group Joint Stock Company (Rox Group).
In 2022, TNR Holdings Vietnam merged with TNI Development Investment JSC to form TNGRealty Corporation. In 2023, TNGRealty merged with TNL JSC and Asset Leasing. In 2024, the TNGRealty brand was converted to ROX Living.
Another company related to TNR Holdings, My Real Estate JSC, has just reported a rather dire financial situation. According to a report sent to HNX, in the first half of 2024, this company recorded a drop in after-tax profit from more than VND 108 billion in the same period to more than VND 374 million.
By the end of the second quarter of 2024, US Real Estate had equity of nearly VND 3,165 billion, while liabilities amounted to VND 21,363 billion. Outstanding bonds were VND 7,754 billion.
Like Hano-vid, My Real Estate issued a large amount of bonds in 2020. Specifically, this enterprise issued about 110 bonds with a term of 5 years, each worth tens of billions of VND. Most of the bonds are unsecured and Maritime Bank is the depository. In mid-2025, most of these bonds will mature.
American real estate is known for the TNR Gold Seasons project in Thanh Xuan, Hanoi. This is also a project implemented by TNR Holdings Vietnam.
My Real Estate, Hano-vid and Nam Quang Infrastructure Investment and Development JSC are the joint venture that won the bid for the Tra Quang Nam Urban Area project (Binh Dinh) with an investment capital of nearly 1,500 billion VND.
The real estate company that was once related to Ms. Nguyet Huong paid interest on nearly 10 trillion VND worth of bonds . HANO-VID Real Estate JSC in Ha Dong, Hanoi paid interest on 182 bonds worth nearly 10 trillion VND. The terms of these bonds were very long, 5-7 years, most of them had no collateral and Maritime Bank (MSB) was the depository.
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