NRC Corporation (stock code: NRC) has established NRC Pharma LLC with a charter capital of 50 billion VND, marking its third subsidiary. NRC Pharma will primarily operate in cosmetics, personal care products, and pharmaceutical distribution. Mr. Trịnh Văn Bảo has been appointed as the Chairman of the Board.
NRC has recently faced significant business difficulties, reporting a loss of over 137 billion VND last year. This year, NRC aims for a revenue target of 959 billion VND and a pre-tax profit of 25 billion VND, but its current stock price is only 4,500 VND, much lower than the planned issuance price of 10,000 VND.
In Q2, NRC reported a net revenue of over 4 billion VND, down 32% from the same period, but net profit reached over 4 billion VND thanks to a recovery of provisions. As of June 30, NRC’s total assets amount to over 1,895 billion VND, with liabilities nearly 735 billion VND.
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