Recently, the State Securities Commission (SSC) issued Decision No. 281/QĐ-XPHC regarding administrative penalties for violations in the securities and stock market sector against Thang Long Urban Development and Investment Joint Stock Company (Stock Code: TLD, HoSE).
Accordingly, TLD was fined VND 150 million for misreporting post-tax profit figures for 2024 in its separate and consolidated financial statements for Q4/2024, compared to the audited separate and consolidated financial statements for the same year.
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Specifically, in the separate financial statement for Q4/2024, the company’s post-tax profit was over VND 18.3 billion; in the consolidated financial statement for Q4/2024, the post-tax profit was nearly VND 19 billion.
However, according to the audited separate financial statement for 2024, the post-tax profit was nearly VND 13.5 billion; in the audited consolidated financial statement for 2024, the post-tax profit was over VND 14.1 billion.
Additionally, TLD must rectify the situation by either retracting or correcting the misleading information previously disclosed.
Thang Long Urban Development and Investment Joint Stock Company originated from Ngoc Ha Construction and Trading LLC, established in September 2000 with a charter capital of VND 11 billion.
Its primary business activities include the production, processing, and trading of wooden construction and interior/exterior decoration products, as well as the construction of civil, industrial, transportation, irrigation, and infrastructure projects for industrial clusters and craft villages.
Regarding business performance, according to the reviewed consolidated financial statements for the first six months of 2025, TLD generated net revenue of over VND 301.3 billion, an 8.1% increase compared to the same period in 2024; post-tax profit reached over VND 8.7 billion, a 13.9% decrease.
As of June 30, 2025, TLD’s total assets increased by 30.3% from the beginning of the year to over VND 1,368.1 billion. Inventory stood at nearly VND 534.7 billion, accounting for 39.1% of total assets.
On the liabilities side, total payables reached over VND 379.6 billion, a 62.1% increase from the beginning of the year. Of this, loans and financial leases amounted to VND 242 billion, representing 63.8% of total liabilities.
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