According to the Hanoi Stock Exchange (HNX), Mattress King Joint Stock Company has recently disclosed its financial performance for the first half of 2024.
The company reported a post-tax loss of nearly VND 13 billion, a significant improvement from the previous reporting period’s loss of over VND 78 billion. Notably, Mattress King has incurred losses for two consecutive years, amounting to VND 78.2 billion in 2023 and VND 54.6 billion in 2022.
The continuous losses have also eroded the company’s equity, leaving it with just over VND 14 billion as of the end of Q2/2024. The debt-to-equity ratio surged to 20.9 times, corresponding to a total debt of more than VND 297 billion. Notably, the company has cleared all its bond debt.
Source: HNX
Previously, Mattress King had a single bond issue, VUNCH2224001, which was issued on May 26, 2022, with a maturity of 24 months and a value of VND 150 billion. This bond matured on May 26, 2024.
In August 2023, the company was fined by the State Securities Commission (SSC) for late disclosure of information. Mattress King was penalized for delayed submission of periodic reports to the HNX, including the semi-annual financial statement for 2022, the semi-annual report on bond interest and principal payments for 2022, and the semi-annual report on the use of proceeds from bond issuance for 2022.
The company’s offenses were considered aggravated due to multiple previous violations of Article 10, Clause 1, Point b of the Law on Handling of Administrative Violations. The total fine amounted to VND 55 million.
Mattress King Joint Stock Company is located at 30D Kim Ma Thuong Street, Cong Vi Ward, Ba Dinh District, Hanoi. Established in August 2017, the company specializes in retail sales of carpets, mattresses, blankets, curtains, and wall coverings.
The current Chairman of the Board of Directors and legal representative of Mattress King is Mr. Hoang Tuan Anh (born in 1981). Mr. Anh also serves as the legal representative for several other companies within the same ecosystem that he founded, including Mattress King Investment Joint Stock Company, Devico Investment Joint Stock Company, and Chuc Ngủ Ngon Joint Stock Company.
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