CTCP Quoc Cuong Gia Lai (QCG) announced its 2025 semi-annual consolidated financial report with a revenue of 242.56 billion VND, up 271.9% from the same period; net profit reached 10 billion VND compared to a loss of 16.62 billion VND last year. However, pre-tax profit only reached 20.46 billion VND, completing only 6.8% of the 300 billion VND target for 2025. The audit firm WHY has expressed doubts about QCG’s ability to continue as a going concern. This is due to delays in a 74.3 billion VND payment related to the Tan Phong apartment project and total short-term debt reaching 3.814 trillion VND, while short-term assets are only 1.844 trillion VND. Notably, there is a 2.782 trillion VND debt to be repaid for the North Phuoc Kien residential project. The company’s management insists that they have identified the issues and built financial plans, believing they can still meet debt obligations and maintain operations.
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