Song Hong Construction's half-year loss widens amid project expenses

Song Hong Construction Joint Stock Company (ICG) reported a net loss after corporate income tax of 4,135,350,543 for the first six months of 2025, a decrease compared to the loss of 1,890,815,883 in the same period of 2024. This fluctuation is attributed to ongoing project implementations, including the Xuan La Trade Center, Market, Supermarket, and Office for Lease project, and the Vinh Tuy Bridge Commercial, Office, and Apartment Complex project, which have primarily generated expenses thus far.

Total revenue from the sale of goods and rendering of services for the first half of 2025 was 3,159,738,725, with cost of sales at 1,934,341,152, resulting in a gross profit of 1,225,397,573. Financial income was 151,294,762, but finance costs amounted to 940,356,987, largely due to interest expenses. General administrative expenses were 4,622,244,335.

As of June 30, 2025, total assets were 588,633,272,293, an increase from 530,179,349,755 at the beginning of the year. Current assets stood at 366,270,333,040, while long-term assets were 222,362,939,253. Liabilities increased to 314,132,397,515 from 250,960,319,748 at the start of the year, with long-term loans and debts significantly contributing to this increase.