AsemconnectVietnam - Duc Long Gia Lai Group Joint Stock Company (HoSE: DLG) has just announced that its 2022 Consolidated Financial Statements have been audited.

Accordingly, the audited financial statements ended on December 31, 2022. Net revenue reached nearly VND1,400 billion, down 13% compared to the same period last year. Profit after tax was negative: VND1,197 billion. The main reasons affecting DLG's profit are as follows:
In 2022, the Covid epidemic has not ended in countries such as China, Korea, Hong Kong and Vietnam. At the same time, the conflict between Russia and Ukraine has not ended, high inflation in European countries, especially the US has increased to a record of 9.1%/year, this is the highest increase since November 1981, leading to high prices of raw materials, transportation costs,... to the consolidated loss of DLG's financial statements.
At the same time, there were many fluctuations in the country, the mechanism and policy changed, banks tightened credit, interest rates increased, the real estate market froze, the stock market plummeted, which had a direct impact on thousands of businesses in the country, DLG is no exception. Therefore, the receivables of DLG that have not been recovered as planned and are forced to make provision for receivables according to the provisions of Circular 48/2019/TT-BTC of the Ministry of Finance is VND1,128 billion, accounting for 95%/profit.
However, domestic activities of DLG were affected by the epidemic, the conflict between Russia and Ukraine, along with credit tightening and high interest rates. But with the experience and bravery and determination of the Board of Directors and the Board of Management, DLG has organized and managed business activities, investment and construction of toll collection infrastructure in the form of BOT, renewable energy, hotels, ... overcome all difficulties and challenges to achieve high results and contribute nearly VND350 billion in profit.
At the end of 2022 and the beginning of 2023, the National Assembly and the Government have issued many resolutions: No. 16/NQ-CP dated February 9, 2023; No. 08/2023/ND-CP dated 05/3/2023; 33/NQ-CP dated 11/3/2023 to stabilize the macro-economy, support and remove difficulties for businesses in the fields of real estate, securities, bonds, credit and banking.
Therefore, the Board of Directors and Board of Management of DLG will remain steadfast in their goal of taking drastic action by many measures such as financial structure, business plan, enhanced debt collection, cost reduction and risk prevention to achieve the goal of contributing to increase in revenue and profit from 2023 to 2026.
N.Nga
Source: VITIC/Tinnhanhchungkhoan