AsemconnectVietnam - Duc Long Gia Lai Group Joint Stock Company (code DLG) has just announced the Board of Directors' Decision on contributing capital to establish 4 affiliates despite having accumulated consolidated losses of over VND2,411.2 billion.

Specifically, DLG will contribute capital to CP1 Wind Power Energy Joint Stock Company with a value of VND117.5 billion, equivalent to 47% of charter capital. Similarly, CP2 Wind Power Energy Joint Stock Company, DLG will contribute VND115 billion, accounting for 46% of capital. Both companies have charter capital of VND250 billion.
For the solar power sector, DLG will contribute VND99 billion (44% of charter capital) to CP4 Solar Solar Power Joint Stock Company, and a similar amount of VND99 billion (44% of charter capital) to CP3 Solar Solar Power Joint Stock Company. The two enterprises have the same charter capital of VND225 billion.
Thus, the total amount of capital that Duc Long Gia Lai will contribute is more than VND430 billion. The implementation time is in the third quarter of 2025. After completion, the above 4 companies will become DLG's affiliates, contributing to expanding the Company's operations in the field of renewable energy.
Regarding the Company's business situation, according to the audited semi-annual financial statements, the Company recorded net revenue of VND315.1 billion, down 47% compared to the same period last year, because the Company completed the divestment of its subsidiary Mass Noble in 2024, so the revenue of this unit will no longer be consolidated from 2025.
However, consolidated profit after tax still increased by 13%, to VND69 billion, due to reduced management costs, while production and business activities were positive, revenue from selling commercial electricity and BOT toll stations both increased.
Notably, the auditor emphasized that as of June 30, the Company's consolidated accumulated loss was more than VND2,411.2 billion, the Company's short-term debts exceeded total short-term assets by nearly VND530 billion. These factors indicate the existence of a material uncertainty that may cast significant doubt about the Company's ability to continue as a going concern.
N.Nga
Source: VITIC/Tinnhanhchungkhoan