The company recently released its 2025 audited financial report, detailing that Thuduc House Development Joint Stock Company (Thuduc House) achieved a net revenue of nearly 123 billion dong for the entire year, an increase of over 150% compared to the previous year.

A key highlight came from the real estate rental segment, which contributed 72,1 billion dong for the first time, accounting for over 58% of total revenue. This indicates a strategic shift towards generating stable cash flow. Additionally, revenue from services and goods sales reached 34,4 billion dong and 18,1 billion dong, respectively.

Profit improved due to several factors. Enterprise management costs significantly decreased from 356 billion dong to nearly 28 billion dong, primarily due to provision reversals. Notably, the company recognized other income of nearly 123 billion dong, mainly from the reversal of over 91 billion dong in late payment interest after the Supreme People's Court in TP HCM issued a favorable ruling, along with compensation and debt write-offs.

As a result, Thuduc House reported an after-tax profit for parent company shareholders of over 108 billion dong, reversing a loss of over 304 billion dong in 2024. This profit marks the highest level since 2019 and signifies four consecutive profitable quarters for the company after its restructuring phase.

In a report submitted to the Ho Chi Minh City Stock Exchange, Ms. Tran Thi Lien, General Director of Thuduc House, stated that 2025 was a pivotal year as the company focused on resolving legal backlogs, restructuring existing projects, and diversifying revenue streams. The company restarted key projects and expanded into distribution and food sectors through the establishment of subsidiaries. Recently, Thuduc House signed an authorization agreement to acquire the Phuoc Long Town Commercial Center project, with a total investment of 250 billion dong, which is planned for development as an integrated multi-utility model.

Company logo. Photo: Thuduc House.

By the end of 2025, Thuduc House's total assets stood at 685 billion dong. Liabilities decreased to approximately 504 billion dong, while equity increased to over 181 billion dong, 2,6 times higher than the beginning of the year due to accumulated profit. However, Ernst & Young's audit report also noted several factors related to the company's going concern. Specifically, the group's cumulative loss remained at nearly 948 billion dong, and short-term liabilities still exceeded short-term assets. Additionally, some tax enforcement measures had not been fully lifted, despite the company receiving a favorable court ruling.

Hoang Dan