Dat Xanh increases cash accumulation fourfold, nearly 1 trillion VND bonds maturing in 2025

In Q1 2025, Dat Xanh (DXG) reported net revenue of approximately 925 billion VND, a decrease of 13% compared to the same period last year, primarily due to a nearly 19% drop in real estate revenue. Nevertheless, gross profit rose 8% to over 510 billion VND due to a 30% reduction in cost of goods sold. Financial revenue increased by 39%, while financial expenses rose by 11%. Net profit grew by 1% to reach over 78 billion VND. As of March 31, Dat Xanh’s total assets were recorded at 33,660 billion VND, up 15%, with cash holdings of 5,191 billion VND, nearly four times higher than at the beginning of the year. Inventory slightly decreased to 13,387 billion VND. Total liabilities increased by 19% to 16,578 billion VND, including 949 billion VND in bonds maturing in 2025. The Annual General Meeting in 2025 is scheduled for May 9 to approve a revenue target of 7,000 billion VND and net profit of 368 billion VND, which represents an increase of 62% and 44% compared to the previous year.