AsemconnectVietnam - Binh Duong Business and Development Joint Stock Company (TDC - HOSE) recorded a profit of VND2.47 billion in the second quarter, bringing the cumulative profit for the first half of 2026 to VND11.62 billion, a decrease of 82.9% compared to the same period last year and only 4% of the annual plan completed.

In the second quarter of 2026, Binh Duong Business and Development recorded revenue of VND552.49 billion, an increase of 9.4% compared to the same period last year; after-tax profit reached VND2.47 billion, a decrease of 94.9% compared to the same period last year.
During the period, gross profit increased by 37% compared to the same period last year, corresponding to an increase of VND23.79 billion, reaching VND88.05 billion; Financial revenue decreased by 98.3%, equivalent to a decrease of VND85.08 billion, to VND1.43 billion; financial expenses decreased by 35.9%, equivalent to a decrease of VND22.86 billion, to VND40.86 billion; selling and administrative expenses decreased by 17.6%, equivalent to a decrease of VND7.32 billion, to VND34.2 billion; other income recorded a loss of VND13.18 billion compared to a profit of VND1.01 billion in the same period, a decrease of VND14.19 billion.
Thus, during the period, despite a 37% increase in gross profit and cost reductions, net profit still decreased by 94.9%, mainly due to a shortfall in financial revenue and other income.
Cumulatively in the first half of 2026, Binh Duong Business and Development recorded revenue of VND783.6 billion, an increase of 24.1% compared to the same period. Net profit after tax reached VND11.62 billion, a decrease of 82.9% compared to the same period last year.
In 2026, Binh Duong Business and Development presented to shareholders a plan for total revenue of VND3,933.8 billion, an increase of 47% compared to the same period; projected net profit after tax of VND290.21 billion, a slight increase of 4% compared to the actual performance in 2025; and a minimum expected dividend rate of 10%.
Thus, ending the first half of 2026 with a net profit after tax of VND11.62 billion, TDC has only completed 4% of its annual plan.
Besides the sharp decline in business, in the first half of 2026, Binh Duong Business and Development also recorded a negative cash flow from operations of VND 126.9 billion compared to a negative VND569.9 billion in the same period. The company reported a negative investment cash flow of VND8 billion and a positive financing cash flow of VND99.98 billion, primarily due to increased borrowing.
In terms of asset size, as of June 30, 2026, Binh Duong Business and Development's total assets decreased by 7.7% compared to the beginning of the year, equivalent to a decrease of VND353 billion, to VND4,205 billion. Of this, the main assets were VND1,756.6 billion in short-term receivables, accounting for 41.77% of total assets; VND1,568.3 billion in long-term work-in-progress assets, accounting for 37.3% of total assets; and VND61.3 billion in cash.
Notably, Binh Duong Business and Development disclosed a non-performing loan value of VND59.7 billion and a recoverable value of VND3.08 billion. This includes non-performing loans arising from a related party, My Phuoc Hospital Joint Stock Company.
Regarding capital sources, as of the end of the second quarter, the total short-term and long-term debt of Binh Duong Business and Development increased by 8.1% compared to the beginning of the year, equivalent to an increase of VND102.6 billion, reaching VND1,368.4 billion and equaling 77.9% of total equity. Of this, short-term debt was VND1,246.5 billion and long-term debt was VND121.9 billion.
Source: VITIC/Bao Tai chinh – Dau tu