Song Da 9 reports H1 2025 revenue decline, consolidated profit drop

Song Da 9 Joint Stock Company (HNX:SD9) released its reviewed interim consolidated financial statements for the first half of 2025 (January 1 to June 30). The consolidated financial statement shows a net profit after tax of 26,431,272,132 VND for H1 2025, a decrease from 35,816,255,835 VND in H1 2024. This 36% consolidated profit decrease is primarily attributed to a reduction in the subsidiary's electricity sales revenue. Consolidated revenue from sales of goods and services also fell to 165,954,146,232 VND in H1 2025 from 226,863,263,202 VND in H1 2024.

Conversely, Song Da 9's separate financial statements show an increase in net profit after tax for H1 2025, rising to 19,342 million VND compared to 15,060 million VND in H1 2024. This 22% increase in separate net profit is due to a reduction in the cost of goods sold and financial expenses in H1 2025 compared to the same period in 2024.

The company's total assets amounted to 1,702,239,663,470 VND as of June 30, 2025, a slight decrease from 1,725,957,851,929 VND at the beginning of the year. The reports were reviewed by UHY Auditing and Consulting Company Limited.