Investing in Vinhomes and Hòa Phát, Da Nang tycoon profits from stocks 16 times more than from selling houses

The financial report for Q4 2025 of Da Nang Housing Joint Stock Company (NDN) shows that the total revenue for the year was 26.5 billion VND, down 52% from 2024. Revenue from core real estate transactions only reached 2.5 billion VND, a 93% drop. In contrast, the financial investment sector thrived with revenues of 185.3 billion VND, an increase of 63%, with profits from securities accounting for 173.1 billion VND. Compared to the profit from sales of just 10.4 billion VND, the profit from stocks increased 16.6 times. As of December 31, 2025, NDN mainly invested in blue-chip stocks, with 90.9 billion VND in Hòa Phát and 71 billion VND in Vinhomes, achieving an interim profit of about 129%. The total after-tax profit reached 168.6 billion VND, up 366% from the previous year, despite difficulty in real estate. NDN’s assets totaled 1.3 trillion VND, with cash increasing 2.7 times, and no long-term loans.