Kinh Bắc Urban Development Corporation (MCK: KBC) reported its Q2/2025 financial statement with net revenue reaching 578.7 billion VND, down 35.1% year-on-year. However, gross profit rose to 588.6 billion VND, an increase of 26.7% due to a negative cost of goods sold. Financial revenue increased by 50.1% to 164.1 billion VND, while financial expenses rose 108% to 112.1 billion VND, and selling and management costs decreased by 53.9% and 20.5%. Kinh Bắc’s net profit after tax was 399 billion VND, marking a 46.4% increase from the previous year. For the first half of 2025, net revenue reached 3,695.5 billion VND, up 253.9%, with leasing revenue up 5.3 times, amounting to 2,829.7 billion VND. The company reported a net profit after income tax of 1,248.1 billion VND, 6.4 times higher than the first half of 2024. By June 30, 2025, total assets increased 57.2% to 70,302.5 billion VND, with cash and equivalents making up 25.9%. Total liabilities reached 44,605.3 billion VND, with financial debts comprising 56.3%, notably including a long-term loan of nearly 12,366.8 billion VND from VPBank.
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