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Vua Nem returns to a profit of more than VND3 billion in the first half of 2023 

 Tuesday, September 12,2023

AsemconnectVietnam - After recording a record loss of VND54.59 billion in 2022, Vua Nem Joint Stock Company returned to profit in the first half of 2023 with outstanding bond debt of up to VND151.71 billion.

In the first half of 2023, Vua Nem Joint Stock Company recorded a profit of VND3.03 billion compared to a loss of VND54.59 billion in the same period, an increase of VND57.61 billion. Notably, the after-tax profit margin on equity (ROE) increased from negative 52% to positive 3%.
In addition, as of June 30, 2023, the bond debt-to-equity ratio is 1.4 times, corresponding to a total outstanding bond debt of about VND151.71 billion.
It is known that on May 26, 2022, Vua Nem Joint Stock Company issued a bond code VUNCH2224001, 24-month term (maturing May 26, 2024), face value VND150 billion, interest rate 12. 5%/year and interest paid once a month.
Previously, in 2022, Vua Nem had a business loss of VND54.59 billion (2021 recorded a profit of VND5.22 billion), leading to a negative ROE of 41.2%.
Late in disclosing financial information, King Mat was fined VND55 million
In August 2023, the State Securities Commission has just decided to sanction administrative violations against King Mat JSC.
Specifically, King Mattress Joint Stock Company has had an act of disclosing information on time as prescribed by law. In particular, the Company sent periodic information disclosure content on time to the Hanoi Stock Exchange for the 2022 semi-annual financial report; the payment of interest and principal of semi-annual bonds in 2022; and report on the use of capital from semi-annual bond issuance in 2022.
In particular, the aggravating behavior is that the Company has committed multiple administrative violations as prescribed in Point b, Clause 1, Article 10 of the Law on Handling of Administrative Violations.
The total amount of the fine is VND55 million.
According to research, Vua Nem Joint Stock Company is located at 7th floor, Nhat An building, 30D Kim Ma Thuong street, Cong Vi ward, Ba Dinh district, City. Hanoi; The General Director and also the legal representative is Mr. Hoang Tuan Anh; operates in the field of retailing carpets, mattresses, blankets, curtains, wall and floor covering materials in specialized stores; and started operating from August 18, 2017 (according to tax authorities).
In addition, on the website of Mekong Capital investment fund, this unit said that Vua Nem was founded in 2007 by two businessmen, Hoang Tuan Anh and Nguyen Vu Nghia. In particular, over many years of operation, Vua Nem has developed from a small store on Xa Dan street (Hanoi) to become Vietnam's leading brand in the field of distribution and retail of mattresses and bedding with 149 stores in 24 provinces and cities across the country.
In which, especially in 2018, Mekong Enterprise Fund III officially invested and became a strategic investor at Vua Nem Joint Stock Company.
N.Nga
Source: VITIC/Tinnhanhchungkhoan
 

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