AsemconnectVietnam - Hung Thinh Land Joint Stock Company has sent a letter to the Hanoi Stock Exchange and bondholders regarding the payment of principal and interest on bonds after a delay in payment.

Regarding bond tranche H79CH2123021 with a face value of VND500 billion issued on August 18, 2023, the company stated that since 2023, the post-Covid-19 economic situation and unfavorable developments in the financial and real estate markets have affected the issuer's ability to arrange funds for payment as initially planned.
However, by September 4, 2026, the issuer had completed the payment of the entire principal and interest to bondholders, thereby fulfilling all payment obligations related to the bonds.
Specifically, the payments are as follows: VND8,628,300,000 on October 16, 2024; VND1,148,900,000 on November 21, 2024; VND7,466,900,000 on December 5, 2024; VND9,376,200,000 on March 6, 2025; VND7,297,500,000 on April 24, 2025; VND25,916,200,000 on September 30, 2025; VND44,688,400,000 on November 7, 2025; and VND489,300,000 on December 30, 2025. On July 31, 2026, a payment of VND145,000,000,000 was made.
On August 3, 2026, a payment of VND128,449,400,000 was made. On August 27, 2026, a payment of VND17,584,800,000 was made. On September 4, 2026, the remaining principal of VND9,412,500,000 was paid.
Regarding bond issue H79CH2123021 with a face value of VND500 billion, Hung Thinh Land stated that it had negotiated with investors regarding the payment of bond interest. On September 4, 2026, the issuer completed the payment of all accrued bond interest to bondholders.
Regarding business performance, Hung Thinh Land's 2026 semi-annual financial report recorded a loss of over VND94 billion. The cumulative loss as of June 30, 2026, was over VND169.5 billion. Total liabilities amounted to over VND56,353 billion, including over VND2,423 billion in bank loans and over VND8,562 billion in debt from bond issuance, primarily privately placed bonds in the domestic market. Other liabilities totaled over VND45,367 billion.
The debt-to-equity ratio was high at 3.06, meaning total liabilities were three times greater than the company's equity. The ratio of total corporate bond debt to equity was 0.47.
In terms of solvency, the current ratio was 1.11. The quick ratio (current assets - inventory/current liabilities) is 0.67. The interest coverage ratio is 0.81.
AASC auditing firm noted, “Note 01 on the characteristics of the company's operations during the accounting period, which describes the financial position as of June 30, 2026 and the company's business results during the period, shows the existence of material uncertainties that may lead to significant doubt about the company's ability to continue operating. Accordingly, the company's ability to continue operating depends on its ability to secure funding.”
Source: VITIC/Bao Tai chinh – Dau tu