SIMCO Song Da’s half-year loss widens significantly on investment provisions

For the six-month period ending June 30, 2025, SIMCO Song Da reported a net loss after tax of VND (2,999,652,256). This represents a 268% decrease compared to the VND (814,251,325) loss in Q2 2025. This decline is attributed to significant adjustments in provisions for financial investments, notably for its investment in An Vien Lac Son Joint Stock Company, and an increase in provisions for uncollateralized bad debts from other receivables.

Compared to the same period in 2024, when the company recorded a profit after tax of VND (6,560,357,895), the 2025 half-year loss represents a 54% improvement. The 2024 results were impacted by substantial provisions for financial investments in companies receiving capital contributions.

Total commercial sales revenue for the current period was VND 8,141,885,502. The company is actively working to recover outstanding debts and restructure its investment portfolio to enhance economic efficiency.