SMC has responded regarding its ability to operate after an audit report indicated a loss of over 102 billion VND in the first half of 2025, leading to a cumulative loss of nearly 242 billion VND. As of June 30, 2025, short-term debts exceeded current assets by 972 billion VND, raising concerns about the company’s viability. SMC asserts that it will receive support from suppliers to extend debt repayment, and it is determined to recover bad debts from Novaland within 2025. The company signed debt settlement agreements with Novagroup, reporting a decrease in indebtedness from Novaland of nearly 287 billion VND, aiming to finalize recoveries this year. SMC’s net revenue for the first half of the year reached 3.798 trillion VND, a 15% decrease year-on-year, and reported a gross loss of nearly 3 billion VND.
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