AsemconnectVietnam - Nam Bay Bay Investment Joint Stock Company (code NBB - HOSE) plans to be cautious compared to the profit peak period of 2020 - 2021 and continue to complete the legal procedures for many key projects in 2025.

In 2025, Nam Bay Bay plans to have a total revenue of VND404 billion, an increase of 4.4% over the same period, and an expected profit after tax of VND2 billion compared to the same period of VND0.44 billion, an increase of VND1.56 billion.
It is known that at the end of 2024, Nam Bay Bay recorded a revenue of VND387.07 billion, completing 60% of the plan and a profit after tax of VND0.44 billion, completing 2% of the profit plan of VND18 billion.
Furthermore, if looking at the past 5 years, after Nam Bay Bay recorded a profit of VND327.29 billion in 2020 and a profit of VND313.09 billion in 2021, the Company entered a period of continuous decline in business in the past 3 years, peaking in 2024 with a profit of only VND0.44 billion.
Returning to the business orientation, in 2025, Nam Bay Bay plans to focus on implementing existing projects, perfecting the legal framework and continuing to search for clean land funds to develop the Company's future projects.
In particular, for the Diamond Riverside project, the Company will complete the calculation of land use fees; For the NBB II project, the Company will complete the legal procedures for approving the investment policy and approving the 1/500 of the project; For the NBB Garden III project, Nam Bay Bay will complete the work of adjusting the 1/500 approval, changing the land use purpose, calculating land use fees and applying for a construction permit; For the De Lagi - Binh Thuan project, the Company will carry out leveling and technical infrastructure construction on the area allocated by the State, continue to accelerate the inventory and compensation work for the project on the remaining unallocated land area, and extend the project implementation progress.
For the Son Tinh - Quang Ngai project, compensation, infrastructure construction and business will continue; For the Doi Thuy San - Quang Ninh project, the handover of the power supply and wastewater treatment system to the City will be completed; and for other projects, the Company will actively seek, expand market exploration and other potential clean land funds to expand services and develop future projects.
It is known that in 2024, the People's Committee of the City. Ho Chi Minh City People's Committee has issued Decision No. 4396/QD-UBND approving the investment policy and investor approval for the NBB Garden III Residential Area project in Ward 16, District 8, Ho Chi Minh City of Nam Bay Bay. The project has a scale of 5.27 hectares, with a total investment capital of VND4,478 billion.
However, in reality, as of December 31, 2024, Nam Bay Bay only owns VND42.13 billion in cash, accounting for 0.5% of total assets and has outstanding debt of up to VND4,431.5 billion, equal to 243.8% of equity (the industry average debt-to-equity ratio is 77%).
N.Nga
Source: VITIC/Tinnhanhchungkhoan