Established in January 1993 by the Hanoi People’s Committee and transformed into a single-member limited liability company in 2005, Hanoi Drainage One Member LLC (headquartered in Hai Ba Trung District, Hanoi) boasts a chartered capital of 459 billion VND.
According to the 2025 semi-annual financial report, the company generated revenue of 447.2 billion VND, a slight increase from 434.3 billion VND in the first half of 2024.
After deducting the cost of goods sold (410.7 billion VND) and corporate management expenses (18.4 billion VND), and factoring in additional items, the company achieved a pre-tax profit of 20.2 billion VND for the first half of the year. With corporate income tax payments of 4.1 billion VND, the post-tax profit reached 16 billion VND, surpassing the 14.3 billion VND recorded in the same period of 2024.
Additionally, the company’s report highlights the Redoxy-3C reagent issue. This inventory item expired on October 1, 2021, and remains unresolved. Despite multiple reports to the Hanoi People’s Committee and relevant departments, no resolution guidance has been provided. In compliance with the Ministry of Finance’s circular, the company has provisioned 943.7 million VND for inventory devaluation.
Furthermore, the company has set aside a provision for doubtful receivables amounting to 11.2 billion VND, equivalent to 30% of the contract value (37.2 billion VND), for the purchase of 110 tons of Redoxy-3C from Arktic Trading and Services Company in 2020.
As of the report date, the company has yet to recover this amount.
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