Thang Long Corporation Invests 110 Billion VND to Establish Two New Subsidiaries

Thang Long Corporation Joint Stock Company (Stock Code: TTL, HNX) has announced a Board of Directors resolution approving the establishment of subsidiary companies.

Accordingly, Thang Long Corporation will invest in two new entities: Thang Long Machinery Co., Ltd. and Thang Long Infrastructure and Civil Construction Co., Ltd., with initial chartered capitals of VND 10 billion and VND 100 billion, respectively.

Both companies are wholly owned by Thang Long Corporation, with their headquarters located at 5th Floor, Tasco Building, Lot HH2-2, Pham Hung Road, Tu Liem District, Hanoi.

Previously, Thang Long Corporation also approved the establishment of Thang Long Industrial Real Estate Co., Ltd., with an initial chartered capital of VND 200 billion, wholly owned by the corporation.

In other developments, on October 24, 2025, Thang Long Corporation will finalize the list of shareholders eligible to participate in the 2025 Extraordinary General Meeting of Shareholders. The meeting time, venue, and agenda will be announced later.

Earlier, on October 1, 2025, the company finalized the list of shareholders for written opinion collection, which will be conducted before October 30, 2025.

The corporation plans to propose amendments to its business lines, company charter, and the election of an additional independent board member. It also seeks approval for a capital increase and other matters within the authority of the shareholders’ meeting.

Regarding business performance, the consolidated financial report for the first half of 2025 shows that Thang Long Corporation generated net revenue of over VND 716.3 billion, a 13.9% decrease compared to the same period in 2024.

After deducting taxes and fees, the company reported a net profit of over VND 20.5 billion, a 232.9% increase year-on-year.

Recently, Thang Long Corporation adjusted its 2025 revenue target from VND 1,804 billion to VND 1,711 billion, a 5.2% reduction, while maintaining its after-tax profit target at approximately VND 12.2 billion.

By the end of the first two quarters, the corporation achieved 41.9% of its revenue target and 168% of its after-tax profit goal.

As of June 30, 2025, the company’s total assets slightly decreased by VND 32.6 billion compared to the beginning of the year, totaling over VND 2,710.9 billion. Short-term receivables amounted to nearly VND 1,257.8 billion, accounting for 46.4% of total assets, while inventory reached over VND 727 billion, representing 26.8% of total assets.

On the liabilities side, total debt stood at over VND 2,070 billion, a 2.5% decrease from the beginning of the year. Loans and financial leases totaled more than VND 861.3 billion, comprising 41.6% of total liabilities.