Hải Phát Invest Joint Stock Company (Hải Phát Invest, Code: HPX) has recently announced unusual information regarding the adjustment of the terms of bond HPXH2123008. The company has adjusted the maturity period of this bond from 24 months to 36 months. After the adjustment, the bond will mature on 28.10.2024.
The bond HPXH2123008 was issued on 28.10.2021 with a value of 250 billion VND, an interest rate of 11%/year. The bondholders include 2 institutional investors and 9 professional individual investors. On 29.7, the company purchased a portion of the bond ahead of schedule with a value of 40 billion VND, leaving a remaining value of 208.8 billion VND.
Regarding the business situation, in the second quarter of 2024, the consolidated gross revenue of Hải Phát Invest reached over 331 billion VND, down 56% from the same period last year; net profit after tax decreased by 62% to 31.4 billion VND.
Accumulated in the first six months of the year, Hải Phát Invest achieved revenue of 655 billion VND and net profit after tax of 47.2 billion VND, down 27% and 17% respectively from the same period last year. This result is equivalent to achieving 23.4% and 45% of the annual plan.
The total assets of the company as of 30.6.2024 reached 8,460 billion VND, increasing by nearly 2% from the beginning of the year; the debt obligations stood at 4,838 billion VND, with minimal fluctuations from the beginning of the year. Of which, 2,300 billion VND is financial debt, and 1,102 billion VND is a "short-term advance payment from customers".
Similarly, Construction Investment Joint Stock Company Thịnh Phát has also successfully extended the term of bond DPJCH2224001, from 24 months to 36 months. After the adjustment, the bond will mature on 29.7.2025. The bond was issued on 29.7.2022 with an interest rate of 12.5%, and a value of 500 billion VND.
The 2023 financial statement shows that Thịnh Phát only earned 10 billion VND in profit last year, despite a significant improvement in business performance compared to a loss of over 4 billion VND in 2022.
As of the end of 2023, the company's charter capital stood at 586 billion VND, increasing by 1.8% from 2022. The debt-to-equity ratio was 2.29 times, equivalent to 1,342 billion VND in debt obligations, increasing by 7.3% from 1,250 billion VND in 2022.
The debt-to-equity ratio of bonds was 1.63 times, equivalent to 956 billion VND in bond debt, increasing by 2.5% from 933 billion VND in 2022.
Kita Invest Joint Stock Company has also successfully extended the term of bond KITA.BOND2020.07 and KITA.BOND2020.08, with an additional 12 months. The maturity date after adjustment for both bond codes is 30.7.2025. Additionally, the interest rate of the bond has changed from 13.9%/year to 11%/year.
In 2023, the net profit of Kita Invest reached 44.5 billion VND, significantly increasing from the nearly 5 billion VND in 2022. The company's charter capital as of the end of 2023 stood at 1,204 billion VND, increasing by 4.1% from the previous year; the company's debt obligations stood at 13,966 billion VND, increasing by 34% from 2022. The debt obligations are also 11 times the company's charter capital.
As of the end of 2023, the debt-to-equity ratio of bonds for Kita Invest was 0.7 times, significantly decreasing from 2.2 times in the previous year. Therefore, the bond debt of the company stood at 842 billion VND, significantly decreasing from 2,543 billion VND at the end of 2022.
Việt Tâm Investment Joint Stock Company has recently extended the payment of 92.2 billion VND in interest for bond VTICH2125001, with all interest payment installments in this year being extended to 2.4.2025. The bond was issued in 2021 with a fixed interest rate of 9.5%/year, maturing on 2.4.2025. The total value of the bond is 680 billion VND.
Previously, Việt Tâm had announced the delay in payment of over 15 billion VND in interest for this bond due to market factors and the company's inability to arrange for the necessary funds to make the payment. Việt Tâm has committed to paying this amount to the bondholders by 2.4.2025 at the latest.
In addition, a number of other companies have also announced the successful extension of the term of various bonds, including Hòa Đông 2 Wind Power Joint Stock Company; Nova Investment and Development Joint Stock Company; BB Power Holdings Joint Stock Company, etc.
