AsemconnectVietnam - According to the 2025 consolidated semi-annual financial statements of Phuong Nam Cultural Joint Stock Company (code PNC), the Company achieved nearly VND290.4 billion in net revenue, up 5% over the same period, but after-tax profit decreased by 54% to nearly VND1.5 billion.

According to the explanatory document, Phuong Nam said that during the period, the Company received payment discounts from suppliers, helping financial revenue increase by 23%, reaching more than VND10 billion and other income increased by 145%, reaching nearly VND5.6 billion due to increased support payments and other income.
However, selling expenses in the period increased by 8% mainly due to increased costs of outsourcing services such as premises, electricity, water, etc. In addition, labor costs for the management department also increased by 5%, leading to increased business management costs. Due to the above factors, although revenue increased, corporate profits still decreased compared to the same period.
In 2025, Phuong Nam approved a business plan with total net revenue of VND645 billion and pre-tax profit of VND14 billion. With more than VND1.7 billion in semi-annual pre-tax profit, PNC has only completed more than 12% of the annual profit target.
On June 3, Tan Luc Mien Nam Trading and Service Company Limited (a 100% owned subsidiary of Thien Long Group, code TLG) purchased nearly 5.2 million PNC shares to increase ownership from 1.65% to 49.49% of charter capital at Phuong Nam.
At Phuong Nam's extraordinary general meeting of shareholders held on August 2, Phuong Nam elected 3 additional members to the Board of Directors, including: Ms. Vo Thi Hoang Quan, Mr. Nguyen Ngoc Trung Chanh and Ms. Tran Tue Tri. In which, Ms. Quan is currently the Strategy Director at Thien Long; while Mr. Chanh is the Head of Legal Department here.
In addition to the Board of Directors, the Executive Board of PNC also has the participation of Thien Long when Ms. Hoang Quan is holding the position of General Director. Nguyen Dinh Thu (Thien Long Investment Director, concurrently Director and legal representative of Tan Luc Mien Nam) was appointed to hold the position of Deputy General Director.
N.Nga
Source: VITIC/Tinnhanhchungkhoan