A state-owned enterprise reports profit in the first half of 2025 increased by 1.5 times after audit

The Long An Water Supply and Drainage Corporation (LAW) reported a post-tax profit of over 22 billion VND in the first half of 2025, 1.6 times higher than the self-reported financial statement (14 billion VND). Revenue reached nearly 182 billion VND, up 11% YoY. The primary reason for the profit increase was a 9% decrease in cost of goods sold, resulting in a gross profit increase of 29% to nearly 56 billion VND. The company adjusted to reduce provisions for major repairs of fixed assets since the repairs had not incurred actual costs. As a result, LAW achieved over 95% of its profit target for 2025. The share price of LAW stabilizes at 26,200 VND/share with major shareholders being the Long An Provincial People’s Committee and Biwase holding over 98% of the capital. Additionally, on August 11, the Tây Ninh Provincial People’s Committee decided to transfer the state capital representation rights for LAW from Long An Province after administrative unit mergers.