Billionaire Tran Ba Duong's Thaco earned 1,011 billion VND in profit in the first half of the year.

Truong Hai Group Joint Stock Company ( Thaco ), chaired by billionaire Tran Ba Duong, has just reported its financial situation to the Hanoi Stock Exchange (HNX).

According to the report, in the first half of the year, Thaco earned VND1,011 billion in profit, down VND65 billion compared to the same period last year. The profit/equity ratio also decreased, to 1.9%.

Thaco's profits have dropped sharply since 2023. This year, the company earned VND2,734 billion, down 63% compared to the previous year. In the 2021-2022 period, the company earned over VND5,000 billion each year.

On the contrary, the debt/equity ratio increased compared to the same period last year, up to 2.45 times. Equivalent to the group's debt of VND 132,937 billion.

According to another report by Thaco, the group is currently issuing 4 bonds worth VND13,580 billion. In the first half of the year, the company has fully paid the bond interest worth VND208 billion.

Mr. Tran Ba Duong - Chairman of Thaco (Photo: VGP/Nhat Bac).

Thaco was established in 1997, founded by Mr. Tran Ba Duong, who is also the Chairman of the Board of Directors. From a business specializing in importing used cars and providing auto repair parts, Thaco has developed into a multi-industry group of 6 member corporations, in different areas such as automobiles; mechanics and supporting industries; agriculture ; investment, construction; trade and services; logistics.

Mr. Tran Ba Duong is one of 6 Vietnamese USD billionaires on the list of the richest people on the planet in 2023, according to Forbes. Mr. Duong's estimated asset value in 2023 is 1.5 billion USD, down 100 million USD compared to last year.

Source: https://dantri.com.vn/kinh-doanh/thaco-cua-ty-phu-tran-ba-duong-lai-1011-ty-dong-nua-dau-nam-20240902153847358.htm