AsemconnectVietnam - Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII code - HOSE) has bought shares of Nam Bay Bay Investment Joint Stock Company (NBB code - HOSE) from its subsidiary, increasing its ownership to 54.53% of charter capital.

From July 1 to July 4, Ho Chi Minh City Infrastructure Investment Joint Stock Company purchased an additional 4,226,100 NBB shares to increase its ownership from 50.31%, to 54.53% of charter capital in NBB.
On the contrary, also from July 1 to July 4, CII Infrastructure Construction Joint Stock Company (CII's subsidiary) sold all 4,226,100 NBB shares to reduce its ownership from 4.22% to 0% of charter capital.
In particular, CII said it directly purchased 4,226,100 NBB shares from its subsidiary, CII Infrastructure Construction Joint Stock Company, so before and after the transaction, CII shareholder group also owned 54.61% charter capital at NBB.
Previously, from May 7 to May 27, CII purchased an additional 7,811,000 NBB shares from its subsidiary CII Infrastructure Construction Joint Stock Company, increasing ownership from 42.51% to 50.31% of charter capital at NBB.
On the contrary, after transferring 7,811,000 NBB shares to the parent company, CII Infrastructure Construction Joint Stock Company reduced its ownership in Nam Bay Bay from 12.02% to 4.22%.
In terms of business activities, in the first quarter of 2024, Ho Chi Minh City Infrastructure Investment recorded revenue of VND878.05 billion, an increase of 17.4% over the same period, profit after tax recorded a profit VND322.88 billion, an increase of 826.8% compared to implementation in 2023. Of which, gross profit margin improved from 36.9%, to 53.7%.
During the period, gross profit increased by 71% over the same period, equivalent to an increase of VND195.79 billion, to VND471.45 billion; Financial revenue increased by 145%, equivalent to an increase of VND315.02 billion, to VND532.31 billion; Financial expenses increased by 31.7%, equivalent to an increase of VND108.39 billion, to VND450.84 billion; Sales and corporate management expenses increased by 107.2%, equivalent to an increase of VND109.2 billion, to VND211.07 billion and other activities did not fluctuate significantly.
Thus, in the first quarter of 2024, although financial, sales and corporate management costs increased, profit after tax still increased sharply, the main reason for the sharp increase in gross profit and financial revenue.
Explaining the increase in profit in the first quarter of 2024, Ho Chi Minh City Infrastructure Investment said it was due to the increase in net profit from the operation of the Trung Luong - My Thuan BOT project (Trung Luong - My Thuan BOT Joint Stock Company is a company subsidiary of the Company from the fourth quarter of 2023) and from the consolidated profit of Nam Bay Bay Investment Joint Stock Company (code NBB - HoSE exchange) (Nam Bay Bay Company moves from an Associate Company to a Subsidiary Company from the first quarter of 2024).
In addition, in terms of financial revenue structure in the first quarter of 2024, financial revenue increased suddenly due to recording profits from re-evaluating the fair value of investments in affiliated companies when taking control VND430.3 billion over the same period was not recorded.
N.Nga
Source: VITIC/Tinnhanhchungkhoan