The stock of Kinh Bac Urban Development Corp. (KBC) unexpectedly surged to 37,900 VND/share, with trading volume reaching nearly 18 million units, three times the average. KBC reported a Q4 2025 revenue of over 1,648 billion VND, up 111% year-on-year, and a profit after tax of nearly 652 billion VND, over 21 times higher than Q4 2024, driven by increased revenues from land leasing and industrial infrastructure. However, the company has yet to meet its 2025 revenue target of 10,000 billion VND and profit target of 3,200 billion VND. KBC has significant potential from the Quế Võ 2 Industrial Park project and the Tràng Cát Urban Area, with an expected sales volume of around 4,620 billion VND starting in 2026. Although financial pressure is increasing with nearly 2,602 billion VND in maturing debt in 2026, the cash flow situation could improve if land handover progresses smoothly.
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