Hung Thinh Land officially submitted the dossier for registering initial public offering (IPO)

On July 21, 2022, Hung Thinh Land officially submitted the dossier for registering initial public offering (IPO) to the State Securities Commission of Vietnam. After being approved, the Company will officially launch an IPO and is expected to list on Ho Chi Minh City Stock Exchange (HOSE) in 2023 with the objective of sustainable development, increasing transparency in business investment cooperation for real estate projects.

Hung Thinh Land's financial statements as of December 31, 2021 are as follows: revenue from sales and service provision reached VND 4,995 billion - 3 times higher than in 2020, of which, nearly 40% Hung Thinh Land's revenue from the handover of more than 1,000 products to customers in 2021 – even during the period when the real estate market was in adverse conditions due to Covid-19. Profit after tax reached VND 1,697 billion - 4 times higher than that in late 2020. The company's gross profit margin was always stable at nearly 54%, net profit margin reached more than 34% - helping Hung Thinh Land to be in the top group of real estate enterprises with high profit margin in the market.

The company's total assets as of 2021 reached VND 51,393 billion - an increase of 2.5 times compared to 2020. Total assets increased sharply following the overall restructuring strategy of Hung Thinh Corporation. Accordingly, this Corporation has been continuing to transfer the entire real estate development segment to Hung Thinh Land.

Total inventory and costs for basic construction in progress of the company reached VND 16,593 billion - a sharp increase compared to late 2020. This is the value of the land fund that Hung Thinh Land owns at projects such as Lavita Thuan An (Binh Duong), Grand Center, Ghenh Rang, MerryLand Quy Nhon (Binh Dinh), Truong Tho (Ho Chi Minh City)…

 
Overview of MerryLand Quy Nhon project at Phuong Mai Peninsula, Quy Nhon City, Binh Dinh Province

Hung Thinh Land's loan as of late 2021 was at VND 23,622 billion - mainly supported by reputable domestic credit institutions. Loan structure was maintained healthy, of which 78% was long-term liabilities and 22% was short-term liabilities. As of late 2021, the company paid total value of principal, interest and mobilization fees was nearly VND 2,800 billion from cash on hand and proceeds from sales and service provision.

Net loan-to-total assets and net loan-to-equity ratios are always controlled (0.5 and 1.5 times lower, respectively), ensuring the company's commitments to its credit partners. use. Maintaining a high leverage ratio is in line with the current development situation of this enterprise, well supports the objective of accumulating land fund for long-term development strategy, and at the same time implementing other large-scale projects from the available land fund.

Total equity in late 2021 of Hung Thinh Land increased 2.3 times, reaching VND 15,313 billion. In which, charter capital increased by 74% over the same period in 2020 to VND 9,379 billion.

Recently, the Company also completed an equity transaction valued USD 103 million with two major partners, Dragon Capital and VinaCapital. The success of this capital transaction brought Hung Thinh Land into the international capital market for the first time, creating a favorable foundation for long-term strategic orientations.

 
Moonlight Center Point project at No. 09 Ten Lua Street, Binh Tan District, Ho Chi Minh City

In 2021, in the context when the whole market was facing complicated developments of the pandemic, Hung Thinh Land gave solutions to transform its business method and take care of customers flexibly to carry out the mission of creating a place to settle down for the community and create new values. Hung Thinh Land launched a variety of real estate products at reasonable prices with nearly 5,100 products with total value of nearly VND 16,000 billion.

In the first six months of 2022, Hung Thinh Land is one of the few enterprises that still have a positive business performance with more than 2,000 products well received by the market, with total value of more than VND 10,000 billion. In 2022, this Company is expected to record VND 10,500 billion in revenue and VND 3,375 billion in profit after tax.