AsemconnectVietnam - The after-tax profit for the first half of the year in TDH's audited separate financial statements decreased by VND8 billion, while the consolidated after-tax profit for the first half of the year decreased by VND10.5 billion compared to the company's self-prepared report.

The self-prepared separate financial statements of Thuduc House Joint Stock Company (Thuduc House, stock code TDH) recorded an after-tax profit of over VND17.7 billion. After auditing, the after-tax profit in the separate report was VND9.73 billion, a decrease of VND8 billion, or 45.12%, compared to the company's self-prepared report.
The after-tax profit in the company's self-prepared consolidated financial statements reached VND12.33 billion. After the audit, TDH's consolidated after-tax profit was VND1.83 billion, a decrease of VND10.5 billion, or more than 85%, compared to the self-prepared report.
Explaining the difference in after-tax profit in the consolidated financial statements before and after the audit of the 2026 semi-annual report, the Company stated that the VND2.5 billion advance payment to its subsidiary TDHS (Thuduc House Exploitation and Service Company Limited) was for research and business expansion activities.
At the time of finalizing the financial statements, the payment/settlement documents were not fully completed according to regulations. In the spirit of prudence and following the recommendations of the auditing firm, the Company made an additional provision of VND2.5 billion.
This provision is a risk reassessment entry according to accounting standards and does not affect the individual's settlement/reimbursement obligations. The Board of Directors is actively collecting valid documents to complete the reimbursement procedure in 2026; this provision will be reversed immediately upon completion of the settlement procedure.
Regarding the VND8 billion provision for receivables shown in the report, this is the result of the company's assessment. However, based on the principle of prudence, the accountant recommends that the Company collect additional external evidence to ensure the full legal basis of the reversal documentation. The Company is actively collecting documents to complete the basis for this reversal.
In the semi-annual reporting period of 2026, the Company adjusted the Bonus Fund down by more than VND10 billion to record an increase in undistributed after-tax profit in accordance with the Shareholders' General Meeting Resolution dated April 24, 2026. This recognition contributes to increasing the undistributed after-tax profit figure on the 2026 semi-annual financial statement, bringing the total balance of this figure to over VND20 billion. The above adjustment was made to optimize the capital structure, comply with current regulations on financial management and the company's charter.
In addition, during the period, the company had a difference between revenue and cost of goods sold on its separate financial statement of over VND26 billion. This is due to the fact that in Q2/2026, the company received revenue and expense sharing from the TDH-Tocontap housing project business cooperation contract amounting to over VND26 billion, and therefore recorded this revenue and expense based on value-added tax invoices issued and reported by the partner.
Following a review and recommendations from the independent auditor, the revenue and cost of goods sold arising from this business cooperation project contract were actually accepted in 2023. To ensure the accrual principle and proper period control in accordance with Vietnamese accounting standards, the Company, in coordination with the auditor, adjusted the entire amount of revenue and cost of goods sold that were recorded out of period mentioned above from the 2026 semi-annual income statement. The recognition of these revenues and expenses should be returned to the correct period of occurrence (2023). This simultaneous adjustment of both revenue and cost of goods sold helps to accurately reflect the actual business performance in the 2026 semi-annual report. TDH stated that this correct period recognition does not change the nature of the actual cash flow of the transaction and is accurately reflected in the company's financial scale, nor does it change the business results in the Company's separate financial statements.
Source: VITIC/Bao Tai chinh – Dau tu