Danang Housing Development swings to profit despite ownership restructure

Danang Housing Development Joint Stock Company reported a net profit after tax of VND 2,217,403,438 for the first six months of 2025, a substantial improvement from the VND (264,549,525) loss in the same period of 2024. The company's total revenue for the period remained stable at VND 29,204,080,785.

This positive financial performance occurred alongside a notable change in the company's ownership structure. New Light Ray Investment Joint Stock Company increased its charter capital, leading to Danang Housing Development's ownership ratio in New Light Ray decreasing from 92% to 24.58%. Consequently, New Light Ray is now classified as an associate company rather than a subsidiary.

The company's profit before tax for the first six months of 2025 was VND 2,874,429,826, which after audit, reflected a -5.77% decrease from the initially reported VND 3,050,407,197. This adjustment was attributed to additional provisions for investments and related expenses, which also impacted the corporate income tax.

As of June 30, 2025, total assets stood at VND 201,192,934,743. The company’s primary activities include constructing residential and non-residential buildings, road construction, and real estate business.