Posted by: Ha An Real Estate Investment and Business Joint Stock Company has just announced periodic information on the financial situation in 2023, according to which the business reported a profit of 377 billion VND, more than 5.5 times higher than the same period of 68 billion VND.
As of December 31, 2023, the equity increased to VND 9,954 billion, an increase of nearly 4% compared to the same period in 2022. The debt ratio was recorded as 1.3 times down from 1.5 times in 2022, equivalent to VND 12,940 billion. Of which, the business’s outstanding bond debt is 1,194 billion VND. Thus, the total assets of Ha An Real Estate as of December 31, 2023, reached nearly 23,000 billion VND.
The report on the repayment of bond principal and interest in 2023 of this unit shows that this business has only 1 bond lot in circulation, HAACH2226001, with a total value of 210 billion VND.
At the time of the third quarter of 2023, the financial report of Dat Xanh Group Joint Stock Company (stock code: DXG) recorded that Ha An Real Estate Investment and Business Joint Stock Company is a subsidiary with a 100% ownership rate.
Regarding Ha An, in Dong Nai, this business is the investor of the Gem Sky World project (92.2 ha) and the DXH Airport City project (152 ha). Of which, the Gem Sky World project started to open the first phase of sales from the end of 2021, the DXH Airport City project was approved by Dat Xanh Group to invest in March 2022.
In Binh Duong province, Ha An also has another project with a scale of nearly 8.7 ha, which Dat Xanh assigned to develop from the beginning of October 2022.
Particularly for the Gem Sky World project, in early October 2023, the Dong Nai Provincial People’s Committee issued a decision to fine Ha An 900 million VND for raising capital in violation of regulations. In addition to the above administrative fine, within 360 days from the date of receiving the fine decision, Ha An must refund the part of the capital that was mobilized in violation of regulations.
Regarding the controversy surrounding the Gem Sky World project developed by Ha An, on November 2, 2023, the Dong Nai Provincial People’s Committee had a meeting with customers who had signed contracts to consult on the purchase and sale of real estate at this project.
Responding to customers’ requests, Ha An’s representative said that the company is currently facing many financial difficulties, so I hope customers will cooperate to find a solution. The business is dividing into many phases to complete the procedure of transferring land use rights to customers. Townhouses will be started construction in the first quarter of 2024 and are expected to be handed over to customers in the fourth quarter of 2024.
