AsemconnectVietnam - Binh Thanh Import-Export Production and Trade Joint Stock Company (Gilimex, code GIL - HOSE) recorded a loss of VND71.64 billion in the second quarter, with a cumulative loss of VND69.54 billion in the first half of 2025.

After being reminded twice in a row by the Ho Chi Minh City Stock Exchange (HOSE) for late submission of the Financial Report for the second quarter of 2025, on August 22, Gilimex announced its Financial Report for the second quarter of 2025.
In the second quarter, Gilimex recorded revenue of VND128.93 billion, down 11.1% year-on-year, and recorded a loss of VND71.64 billion in after-tax profit compared to the same period of VND4.67 billion in profit, down VND76.31 billion. In which, gross profit margin decreased from 14.5% to 8.5%.
During the period, gross profit decreased by 47.8% compared to the same period, equivalent to a decrease of VND10.06 billion, to VND10.99 billion; financial revenue decreased by 25.2%, equivalent to a decrease of VND5.07 billion, to VND15.04 billion; financial expenses increased by 69.4%, equivalent to an increase of VND9.86 billion, to VND24.07 billion; sales and business management expenses increased by 47.4%, equivalent to an increase of VND18.57 billion, to VND 57.88 billion; other profits recorded a loss of VND13.45 billion compared to the same period of profit of VND22.12 billion, or a decrease of VND35.57 billion.
Thus, the gross profit generated by Gilimex in the second quarter was not enough to cover financial, sales and business management costs, and also suffered losses from other operations, so Gilimex recorded a loss in the period.
Explaining the reason for the loss in the second quarter, Gilimex said that this year the Company is restructuring its production and business activities, developing new customers and expanding its stuffed animal sewing activities.
In addition, industrial real estate activities in the second quarter are in the process of accelerating infrastructure construction progress to hand over land to secondary investors by the end of the year, so the general operating costs of the industrial real estate sector increased sharply, so after-tax profits decreased sharply.
In the first half of 2025, Gilimex recorded revenue of VND254.95 billion, down 30.4% year-on-year, and recorded a loss of VND 69.54 billion in after-tax profit compared to the same period of VND10.97 billion in profit, down VND80.51 billion.
In 2025, Gilimex plans to have revenue of VND1,200 billion, after-tax profit of VND150 billion and an expected dividend rate of 10%.
Thus, ending the first half of 2025 with a loss, Gilimex is still far from its plan to make a profit in 2025.
In addition to operating at a loss, in the first half of 2025, Gilimex also recorded a negative main business cash flow of VND297.3 billion compared to the same period of negative VND50.7 billion. In addition, during the period, investment cash flow was negative VND200.7 billion and financial cash flow was positive VND362.3 billion, mainly due to increased borrowing to offset the deficit in operating cash flow.
In terms of asset size, by the end of the second quarter, total assets increased by 6.5% compared to the beginning of the year, equivalent to an increase of VND213 billion, to VND3,475.2 billion. Of which, the main assets recorded VND1,768.1 billion in inventory, accounting for 50.9% of total assets; cash and short-term financial investments recorded VND865.5 billion, accounting for 24.9% of total assets; VND275.1 billion in short-term receivables, accounting for 7.9% of total assets and other items.
In addition, in terms of capital, as of June 30, 2025, total short-term and long-term debt increased by 118.3% compared to the beginning of the year, equivalent to an increase of VND406.35 billion, to VND749.8 billion and equal to 30.3% of total equity (at the beginning of the year, outstanding debt was VND343.45 billion and equal to 13.4% of total equity). Of which, short-term debt was VND137.6 billion and long-term debt was VND612.2 billion.
N.Nga
Source: VITIC/Tinnhanhchungkhoan