Provision for losses on VHM shares exceeding 34 billion VND.

As of September 30, 2024, NDN had set aside provisions of over VND 38 billion, of which VND 34.37 billion was for its investment in VHM shares. The original value of NDN 's investment in VHM was over VND 160 billion.

According to the Q3/2024 financial report of Da Nang Housing Development Investment Joint Stock Company, the company is recording short-term financial investments of VND 630 billion, accounting for more than half of its total assets (VND 1,277 billion). Of this amount, VND 490 billion is invested in trading securities and VND 177 billion is investments held to maturity, mainly time deposits…

Da Nang House's investment portfolio as of the end of Q3/2024.

NDN's investment portfolio has a fair value of VND 487 billion, with the largest proportion being the investment in VHM, with an original investment cost of over VND 160.3 billion and a fair value of VND 126 billion, hence a provision of VND 34 billion. The second largest proportion in the portfolio is the investment in HPG shares, with an original investment cost of VND 103.6 billion and a provision of over VND 13 billion.

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

At the end of the third quarter of 2024, revenue reached VND 23.7 billion, a decrease of 57.8% compared to the same period last year. Gross profit was VND 11.4 billion.

During the period, financial income decreased by 25 billion VND, but financial expenses reached 31 billion VND due to a 61 billion VND loss on securities investments and a 34 billion VND provision for impairment of trading securities.

As a result, after-tax profit was over 2 billion VND, a sharp decrease of 92.5% compared to the same period last year.

For the first nine months of the year, NDN recorded revenue of VND 47.7 billion, a decrease of 87%, mainly due to a 90% drop in revenue from real estate transfers (over 35%). After-tax profit reached nearly VND 42 billion, a decrease of 78.6% compared to the same period in 2023, achieving 68.4% of the 2024 profit target.

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