In a report submitted to the Hanoi Stock Exchange (HNX), Hung Thinh Quy Nhon Entertainment Services Joint Stock Company announced its after-tax profit for the first half of the year reached nearly 188 billion VND. This figure represents a more than 73% decrease compared to the same period last year. Despite posting a profit, the company still has 697,5 billion VND in unaddressed accumulated losses.

By the end of june, Hung Thinh Quy Nhon's equity reached over 6.867 billion VND, improving by nearly 7%. This increase primarily stemmed from capital contributed by external shareholders in the company's subsidiaries.

Total liabilities for this period were recorded at nearly 26.995 billion VND, 4% higher than the same period last year. However, financial debt remained low, with over 2.373 billion VND attributed to bank loans.

Outstanding bond debt significantly decreased by 93%, settling at over 425 billion VND. Consequently, the bond debt-to-equity ratio was only 0,06 times. This reduction indicates the company's decreased reliance on borrowed capital for long-term business operations.

MerryLand Quy Nhon is designed with 15 zones: 5-star beachfront luxury hotels, hillside villas, and scenic lake amenities. *Photo: Hung Thinh Group*

As of the end of june, Hung Thinh Quy Nhon still had payment obligations for one bond lot with an initial issuance value of 1.600 billion VND. According to the plan, this amount was due by the end of May 2025. However, as of 22/5 this year, the company had only repaid over 1.174,6 billion VND. Regarding interest, during the reporting period, the company was required to pay over 41 billion VND, corresponding to an annual interest rate of 10%, but had not settled any of it by the end of june.

The company stated that due to unfavorable developments in the financial and real estate markets, it could not arrange sufficient funds for timely payment as planned. However, by july, Hung Thinh Quy Nhon had fully settled this bond package.

Hung Thinh Quy Nhon Entertainment Services Joint Stock Company is a member of Hung Thinh Group. The company is currently implementing three projects in Gia Lai province, with MerryLand Quy Nhon being the most prominent. Formerly known as Vinpearl Hai Giang, Hung Thinh relaunched the project in 2018. MerryLand Quy Nhon is planned across an area of nearly 1.000 hectares with 25 zones. Hung Thinh expects it to transform the province's tourism hub into a major draw for international tourists.