Shark Hong Anh’s income decreased from 500 million/month to 81 million VND

Saigon Thuong Tin Real Estate Joint Stock Company (TTC Land – stock code: SCR) has just released a report finance consolidated audit in 2023 with not very optimistic results. Vice Chairman of the Board The manager of this company is Mr. Dang Hong Anh, often called shark Hong Anh in a TV show about startups.

Profit after tax decreased by 720.05cash flow business negative more than 1,500 billion VND

Specifically in 2023 enterprise recorded 3,712 billion VND in net revenue, down 584% compared to the previous year. In addition, financial revenue in 2023 is 3,438 billion VND, a decrease of 152%.

Financial expenses recorded a decrease of 3,051 billion VND, a decrease of 234% compared to 2022. Of which, interest expenses amounted to 3,045 billion VND, a decrease nearly 2%. Business management costs in 2023 will be at 1087 billion VND, a slight increase of nearly 3%.

After deducting expenses, profit after tax will reach 154 billion VND, down 725% compared to 2022. Explanation of Data differenceTTC Land said the decrease in profit was mainly due to a decrease in real estate transfer revenue because real estate projects have not yet delivered products in 2023.

 

Core business activities decreased decreased, so the business’s operating cash flow in the year was negative at nearly 1,586 billion VND. In the same period last year, this item recorded a negative level of nearly 631 billion VND.

Meanwhile, the financial cash flow in 2023 reached nearly 1,084 billion VND, 32 times higher than the same period. This cash flow is mainly due to increased debt to offset the business cash flow deficit. Accordingly, proceeds from borrowing are at 2,2447 billion VND, 18 times higher than in 2022.

As of December 31, 2023, TTC Land’s total assets are at 10,631 billion VND, an increase of 97% compared to the beginning of the year. In which, short-term receivables increased by nearly 20% compared to the beginning of the year. Inventories also increased by nearly 32%.

On the capital side, short-term debt recorded an increase of 97% at VND 3,7121 billion. Long-term debt increased sharply by 440.07 to VND 1,7939 billion. The total short-term and long-term debt of the business is 2,9937 billion VND, an increase of nearly 57% compared to the beginning of the year.

Leadership income decreased

In In the gloomy business context, the income of TTC Land’s leadership team also decreased sharply. Accordingly, the total income of members of the Board of Directors and General Directors in 2023 is nearly 38 billion VND, down nearly 65% ​​compared to 2022.

Financial statements also said that Mr. Dang Hong Anh’s income in 2023 will be about 973 million VND, down nearly 76% compared to more than 4 billion VND in 2022. On average, shark Hong Anh’s income last year was more than 81 million VND/month while Last year it was about 500 million VND/month.

Similar to Mr. Hong Anh, the income of General Director Mr. Vo Quoc Khanh is also 884 million VND, down more than 74% from 34 billion VND in 2022.< /p>

The only member of TTC Land’s board of directors whose income increased was Chairman of the Board of Directors Huynh Bich Ngoc. In 2023, Ms. Ngoc’s income will be more than 11 billion VND, an increase of nearly 44%.

Set a target for 2024 pre-tax profit to decrease

In the General Meeting of Shareholders meeting documents Annual 2024 just announced TTC Land has set this year’s revenue plan of 705 billion VND, an increase of 899% compared to the previous year. However, the expected pre-tax profit target of 16 billion VND is a 24% decrease compared to the level realized in 2023.

To achieve the above target and orientation for 2024, TTC Land said it will focus on sales and Researching business strategies for key projectsResearching and developing innovative sales forms to suit market tastes, expanding customer access…

Visual strategy to The company’s year 2030 is to expand industrial real estate and logistics real estate in the southern market area.