The Hanoi Stock Exchange has approved the owner of Thong Nhat bicycle brand to trade on the UPCoM market, with the stock code TNV.
A Thong Nhat bicycle - Photo: THONG NHAT
On October 25, Thong Nhat Hanoi Joint Stock Company announced its prospectus, after being approved by HNX for 23.7 million shares to trade on the UPCoM market with the stock code TNV.
According to the company's review, the maximum foreign ownership ratio in the enterprise is 0%. The reason is that the owner of Thong Nhat bicycle brand has a number of business lines that are in the list of business lines that are not yet accessible to foreign investors.
According to the prospectus, TNV, formerly Thong Nhat Bicycle Factory, was established in 1960 and is the oldest bicycle brand in Vietnam.
By 2017, the company officially converted to a joint stock company model with a charter capital of 237 billion VND.
At the end of June this year, there were 3 major shareholders holding nearly 99% of the capital of Thong Nhat bicycle brand. Of which, Hanoi People's Committee holds 45%, VSD Investment Joint Stock Company holds 41.68%, and Mr. Trinh Nguyen Khanh owns the remaining 12.17%.
Due to the transformation from a 100% state-owned company, Thong Nhat has no founding shareholders. The report shows that in the last two years, the company has reported profits again.
In 2022, the company recorded revenue of 142 billion VND and net profit of nearly 14 billion VND. However, in 2023, it "plummeted", net profit fell to less than 3 billion VND while revenue increased to 176 billion VND.
In 2024, the owner of Thong Nhat bicycle brand expects after-tax profit to be low, only about 2 billion VND, due to the assessment that the situation is still difficult.
But in the first 6 months of the year, the company only achieved 300 million VND in profit.
As of December 31, 2023, TNV had total assets of more than VND 282 billion, an increase of VND 22 billion compared to the beginning of the year, mostly fixed assets.
On the other side of the balance sheet, liabilities are at 70 billion VND, an increase of 20 billion VND compared to the beginning of the year.
Chairman of Thong Nhat Bicycles has had an income of 0 VND for many years
The total number of employees of Thong Nhat Hanoi Joint Stock Company in 2023 is 187 people, the average salary per person is more than 11.4 million VND, down from 11.88 million VND in 2022.
Meanwhile, most members of the board of directors , from Mr. Vu Ngoc Tu - Chairman to Vice Chairman Pham Van Minh and the remaining two members, all received zero income for the entire year 2022 and 2023.
Mr. Dinh Vu Minh Viet - a member of the board of directors and also the general director - receives an income of about 386 million VND per year. Meanwhile, chief accountant Tran Thanh Trung receives 334 million VND in 2023 and 257 million VND in 2022.
The list of land and factories of this company at the end of 2023 includes 800m² at 10B Trang Thi, Hoan Kiem, Hanoi, which is the company's headquarters.
In addition, there are 10,000m² at lot A2CN3, Small and Medium Industrial Park, Bac Tu Liem district, used as a factory; 454m² at No. 4, Lane 260, Cau Giay Street, Cau Giay District, used together with the constructed works as a production and business facility.
Source: https://tuoitre.vn/xe-dap-thong-nhat-huyen-thoai-thoi-bao-cap-co-gi-hot-khi-sap-len-san-20241025195612487.htm
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