Mr. Dang Thanh Tam's company deposited nearly 12,000 billion VND in the bank.

(Dan Tri) - The audited consolidated financial report for the first half of 2025 shows that Kinh Bac's after-tax profit was nearly VND 1,251 billion, an increase of nearly 539% over the same period.

Kinh Bac Urban Development Corporation - Joint Stock Company (stock code: KBC) has just announced the audited explanation of business results for the first 6 months of 2025.

According to the newly released audited financial report for the first 6 months of 2025, Kinh Bac recorded consolidated profit after tax in the first 6 months of the year reaching nearly VND 1,251 billion, an increase of nearly VND 1,055 billion over the same period in 2024 (equivalent to an increase of nearly 539%).

Compared to the financial report for the second quarter of 2025 prepared by the enterprise itself, the after-tax profit after auditing increased by more than VND 2 billion. Previously, this unit recorded after-tax profit of more than VND 1,248 billion in the first half of this year.

The company explained that its after-tax profit in the first 6 months of this year increased sharply mainly due to increased revenue from industrial park business activities compared to the same period last year.

Kinh Bac explains sharp increase in profit in the first 6 months of 2025 (Screenshot).

In terms of revenue, in the first 6 months of the year, Kinh Bac's consolidated revenue increased sharply to nearly VND 3,696 billion, 3.5 times higher than the same period in 2024. Of which, revenue from leasing land and infrastructure increased sharply from more than VND 531 billion to nearly VND 2,830 billion. Revenue from real estate transfer increased from VND 225 billion to more than VND 411.5 billion. Warehouse rental revenue also increased slightly from VND 91 billion to nearly VND 111 billion. Revenue from selling factories increased from VND 0 to nearly VND 133 billion.

On the balance sheet, the total assets of the enterprise as of June 30, 2025 were recorded at VND 70,363 billion, an increase of 57.3% compared to the beginning of the year. In particular, the enterprise sharply increased its short-term assets from over VND 36,075 billion to over VND 61,006 billion at mid-year.

Highly liquid assets such as cash and cash equivalents increased from VND6,566 billion to nearly VND18,139 billion. Cash increased from nearly VND522 billion to more than VND12,015 billion, 22.5 times higher than at the beginning of the year. Most of these assets are bank deposits in VND at commercial banks, with terms of 1-3 months and interest rates of 4-6%/year.

Explanation of Kinh Bac's cash holdings as of June 30, 2025 (Screenshot).

Although the consolidated profit of the whole group increased sharply, the parent company Kinh Bac recorded a loss after tax in its separate report of more than VND314 billion. This loss increased by more than VND242 billion compared to the loss of nearly VND92 billion in the same period in 2024.

This unit explained the reason was that during the period, the parent company reduced revenue recognition from industrial park business activities compared to the same period last year.

Source: https://dantri.com.vn/kinh-doanh/doanh-nghiep-ong-dang-thanh-tam-dem-gan-12000-ty-dong-gui-ngan-hang-20250827150918423.htm