Wincommerce JSC reported a post-tax loss of over VND 223 billion in the first six months of 2024. However, this figure is an improvement compared to the loss of nearly VND 382 billion in the same period last year.
The retail giant’s unprofitable business has caused a contraction in owners’ equity, as of June 30, 2024, compared to the same period last year.
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Wincommerce’s Semi-Annual Financial Statement
Unit: VND
Source: Wincommerce’s Information Disclosure
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Although as of the end of the second quarter of this year, the amount of Wincommerce’s outstanding bonds was equivalent to owners’ equity, in July, the enterprise redeemed in advance a batch of loans worth VND 1,140 billion with the code VCMH2025031.
After this transaction, Wincommerce still has outstanding bond debt with a face value of VND 3,360 billion. These loan batches were all issued in 2020 and have a term of 5 years, which means they will mature within the next year.
According to the information on principal and interest payments provided by Wincommerce to HNX and bondholders, also on August 22, the Company paid over VND 179 billion in interest on time in the first half of 2024 – including interest paid on the redeemed trillion-dollar bond batch in July.
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Ending the fiscal year 2023, Garmex Sai Gon reported a consolidated net revenue of nearly VND 8.3 billion, a 97% decrease compared to 2022, and an approximate post-tax loss of VND 52 billion.
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