The Q4 2025 financial report of Thuduc House Development Joint Stock Company (Thuduc House) showed significant increases in key indicators compared to the same period.
Revenue for this period reached nearly 69 billion dong, a fourfold increase from the previous year's Q4. Most of this income came from sales as the company expanded into new areas, including household appliance distribution and imported fruits. Traditional business segments like real estate investment and leasing contributed about 12 billion dong in revenue, a three-fold increase year-on-year.
The most significant change in the financial report was the enterprise management expense, which decreased to just 4 billion dong. In contrast, the same period last year saw expenses rise to 294 billion dong due to provisions for bad debts. As a result, the company reported a post-tax profit of over 7 billion dong in Q4, compared to a loss of 283 billion dong in the same period last year. This marks the fourth consecutive quarter the company has reported a profit.
For the full year 2025, Thuduc House recorded a net profit of 111 billion dong, a significant turnaround from the 305 billion dong loss in the previous year. This result nearly doubled the initial 66 billion dong target set at the beginning of the year and represents the highest profit since 2020.
In a document sent to the Ho Chi Minh City Stock Exchange, Ms. Tran Thi Lien, General Director of Thuduc House, attributed the business recovery to a restructuring strategy, the reduction of unnecessary costs, and the absence of bad debt provisions.
Established in 1990, Thuduc House primarily operated in real estate, generating several thousand billion dong in revenue annually. Between 2020 and 2024, the company experienced a business decline linked to violations concerning electronic component exports. Its senior leadership also saw significant changes. Early last year, the company replaced its entire Board of Directors (BOD) and entered a restructuring phase.
Mr. Tran Thanh Vinh, the current Chairman of Thuduc House's Board of Directors, previously committed to resolving outstanding legal issues, restructuring existing real estate projects, and diversifying revenue streams to ensure profitability in 2025.
The company relaunched two key projects in Ho Chi Minh City: a 10-hectare commercial residential area in Hiep Binh ward and a commercial center on Tang Nhon Phu street with over 6,000 square meters of retail floor space. The company also ventured into goods distribution to secure stable cash flow, helping maintain daily business operations.
The company signed an authorized contract to acquire the Phuoc Long Town project, with a total investment of 250 billion dong. This project is expected to complete its transfer by mid-year and be eligible for construction in Q4.
According to the latest financial report, Thuduc House's total assets exceed 685 billion dong. Liabilities significantly decreased to approximately 500 billion dong.
Phuong Dong
