THACO's Profits in 2023 Plummet by 63%, Total Assets Surpassing 170.5 Trillion VND Approaching Hoa Phat and Sovico

 Thaco's total assets reached more than 170,500 billion VND, second only to a few large private enterprises such as Vingroup, Novaland or Sovico, Hoa Phat.

Truong Hai Group (THACO Group) has just announced a number of financial targets for 2023 with profit after tax reaching 2,734 billion VND, down more than 63% compared to 7,420 billion VND in the previous year. Profit ratio/equity (ROE) is 5.2%, a sharp decrease compared to 15.3% in 2022.


At the end of the year, the business's equity reached 52,372 billion VND, an increase of 3,927 billion VND in the past year. The debt/equity ratio is 2.26 times, equivalent to more than 118,167 billion VND in liabilities. The number increased by 13,700 billion compared to the debt payable of 104,640 billion at the beginning of last year. The outstanding bond debt on the company's equity is 0.27 times. Thus, the enterprise has about 13,580 billion VND of outstanding bond debt (at the beginning of the year it was 8,200 billion VND).



Data on HNX show that the group still has 4 lots of bonds with a total outstanding debt of VND 13,580 billion, with issuance interest rates fluctuating from 6-9.8%/year. These bonds will expire from December 2024 to November 2028.


Thus, the total assets of the enterprise reached 170,539 billion VND. This number is close to Hoa Phat (187,800 billion) and Sovico Group (187,400 billion) surpassing a series of giants such as VinFast, Masan Group, PV Gas, BSR...


THACO's 2023 profit will decrease by 63%, total assets of more than 170,500 billion will approach Hoa Phat and Sovico, surpassing Masan and VinFast - Photo 3.

Along with the decline in Thaco's profits in 2023, the assets of billionaire Tran Ba Duong and his family have decreased sharply, from 1.5 billion USD according to Forbes' assessment at the beginning of 2023, to 1,000 USD. 2 billion USD as of April 1. The decrease in billionaire Tran Ba Duong's assets may be due to the decline in Thaco's valuation.


Thaco is currently a multi-industry industrial corporation, including: Thaco Auto (automotive), Thaco Agri (agriculture and forestry); Thaco Industries (mechanics and supporting industries), Thadico (construction investment), Thilogi (Logistics) and Thiso (service trade).


Recently, Vietnam Oil Corporation - Joint Stock Company (PVOIL) issued a notice about the disruption of all information systems.


Accordingly, at 00:00 on April 2, 2024, the information technology system of Vietnam Oil Corporation - Joint Stock Company (PVOIL) was intentionally illegally attacked in the form of data encryption (ransomware). ).


This incident caused PVOIL's information technology system to stall, including the electronic Invoice issuance system. Therefore, the issuance of electronic invoices for PVOIL's sales is temporarily impossible. Vietnam Oil Corporation - Joint Stock Company has sent a written report to the authorities and is actively handling it to fix the above incident as soon as possible.


During the troubleshooting period, to ensure the supply of gasoline (an essential commodity that cannot be interrupted in supply to the market), PVOIL and its member units continue to sell to customers. ; However, it is not possible to issue electronic invoices, warehouse delivery notes and internal transportation bills and only release warehouse delivery notes to serve goods on the road, including all necessary information.


After the system is repaired and returns to normal operation, PVOIL will issue electronic invoices, warehouse delivery notes and internal transportation notes and carry out other procedures in accordance with current regulations.

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