Geleximco Group – Joint stock company has just released periodic information on its financial situation. According to information from the Hanoi Stock Exchange (HNX), this company operates in the real estate sector with a charter capital of VND 9,600 billion.
In 2022, enterprise recorded Profit after tax reached 661 billion VND, down 866% compared to more than 4,882 billion VND achieved in 2021.
Thus, on average every day in 2022, billionaire Vu Van Tien’s group profit is 181 million VND compared to the previous year That’s a profit of up to 13 billion VND.
Equity at the end of 2022 reached 11,516 billion VND, almost unchanged compared to 11,450 billion VND in the same period in 2021.
System The amount of debt payable compared to equity as of December 31, 2022 is 161 times. Thus, the amount of debt payable as of December 31, 2022 is about 18,435 billion VND. The liability ratio at the end of 2021 is 143 times, so the liabilities are equivalent to nearly 16,468 billion VND.
From this data, it is possible to calculate the total assets of this enterprise recorded at the end of 2021. in 2022 is about 27,984 billion VND, down 64% compared to 18,435 billion VND at the end of 2021.
The scale of Geleximco’s total assets at the end of 2022 is equivalent to Nam Long Investment Joint Stock Company (27,085 billion VND )slightly better than Investment Joint Stock Company and business Khang Dien house (21,539 billion VND).
According to self-introduction information, Geleximco said it currently has a staff of more than 10,000 people and total assets of over 80,000 billion VND. Therefore it is possible that the metric financial just published on HNX belongs to the parent company Geleximco.
With a sharp decrease in profits, the profit/equity ratio (ROE) of the business decreased. decreased from 426% in 2021 to only 057% in 2022.
The outstanding bond debt compared to the equity of this enterprise in the past 2 years has remained at over 1 times .
According to data from HNX, the enterprise once had 58 bond issuances, but currently only 4 batches of bonds are still outstanding. These batches of bonds have a total value of 4,4851 billion VND with an interest rate of 95-10%/year, due at the end of 2023 and 2024.
Before the bond issuance period, Geleximco mobilizes capital from loans from large corporate banks such as Vietnam Petroleum Joint Stock Company, An Binh Bank, Dong A Bank, and Saigon Hanoi Bank. The collateral assets are shares of An Hoa Paper Joint Stock Company, land or building in Le Trong Tan new urban area (Hanoi City).
Geleximco Group was formerly known as Export Company Limited. General import Hanoi – Geleximcora established in 1993 with initial charter capital of 3 billion VND. This company is the first private enterprise in Vietnam allowed to do direct import-export business.
After 30 years of development, Geleximco is now one of the leading private corporations in Vietnam. with 5 business areas including industrial production, finance – banking, real estate, trade, services and high-tech agriculture.
In which, real estate is the most important segment of this group’s activities. . Some notable projects include An Binh Plaza, Geleximco exchange city urban area, Geleximco Le Trong Tan urban area, Gelexia Riverside urban area, Cai Dam urban area (Quang Ninh).
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