Dat Xanh Group Joint Stock Company (stock code: DXG) has just announced its consolidated financial report for the second quarter of 2024 with net revenue of nearly VND 1,126 billion, an increase of 57.7% over the same period in 2023.
In Dat Xanh's revenue structure, revenue from selling apartments and land plots reached 754 billion VND (up 66%), accounting for 67%; real estate brokerage services brought in 287 billion VND (up 34%), accounting for 25.4%...
Meanwhile, financial revenue in the second quarter of 2024 decreased by 99% compared to the same period last year, from VND 342 billion to only VND 4.5 billion.
After deducting sales, administrative and other expenses, Dat Xanh's after-tax profit reached VND 164 billion, down more than 40% compared to the same period in 2023.
Explaining the reason for the decline in profits, Dat Xanh leaders said that the selling costs came from boosting business activities in the second quarter of 2024 and there was no revenue from financial activities.
However, cumulatively in the first half of 2024, Dat Xanh's revenue and after-tax profit doubled and increased 4.3 times over the same period, respectively, at VND 2,191 billion and VND 171 billion.
DXG stock fluctuations over time Source: Fireant
With this result, Dat Xanh has completed 56% of the revenue plan and 76% of the profit target for the year.
As of the end of June 2024, the total value of loans, financial lease debts and inventory value of Dat Xanh decreased slightly compared to the end of 2023, to nearly VND 13,900 billion.
Notably, the value of this enterprise's cash and cash equivalents portfolio compared to the end of 2023 increased sharply by 287%, from VND 276 billion to VND 1,069 billion. Of which, short-term deposits with an original term of no more than 3 months at banks and enjoying interest rates from 3 to 6%/year accounted for the largest proportion, more than 62%, equivalent to VND 667 billion.
Next, bank deposits accounted for 36%, at VND394 billion, and the rest was cash, reaching VND8.5 billion.
Right at the end of the second quarter of 2024, Mr. Luong Tri Thin suddenly resigned from the position of Chairman of the Board of Directors of Dat Xanh from July 3 to take on the position of Chairman of the Group's Strategy Council.
Mr. Luong Ngoc Huy, Member of the Board of Directors and Deputy General Director of Dat Xanh, was assigned to hold the position of Chairman of the Board of Directors of the group from July 3.
On the stock market, DXG shares have decreased from nearly 21,000 VND in early April 2024 and are now less than 14,000 VND/share.
Source: https://nld.com.vn/dat-xanh-lam-an-ra-sao-truoc-khi-ong-luong-tri-thin-roi-chuc-chu-tich-196240730113847704.htm
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