LDG Investment targets net profit above VND 200 billion in 2026 with no dividend to offset accumulated losses

LDG Investment has set targets for 2026 that include after-tax profit of more than VND 200 billion and a revenue goal of VND 916.2 billion. The company also said it will not pay dividends in 2026 in order to preserve cash flow and focus resources on business operations, while continuing to offset accumulated losses.

2026 targets and dividend policy

For 2026, LDG Investment targets revenue of VND 916.2 billion and after-tax profit of VND 201.6 billion. The company stated it will not distribute profits for 2025 to offset accumulated losses from prior years and preserve shareholders’ capital. Similarly, LDG intends not to pay 2026 dividends to maintain liquidity for future needs while continuing to address past losses.

Planned 2026 project execution

LDG Investment outlined a range of activities for 2026, including completing handover to customers and finalizing ownership certificate procedures for Saigon Intela.

For High Intela and West Intela, the company plans to implement projects and carry out investment and transfer of projects/shares. For The Viva City, LDG will complete legal procedures and invest in infrastructure, bring Viva Square into operation, and continue legal procedures to implement construction and business for the Viva Park project.

Regarding Viva Tower, LDG will conduct legal procedures, continue investment, and pursue investment cooperation. The company will also cooperate to develop projects, transfer products for the Thanh Do project, and complete investment cooperation for the LDG Sky project.

In addition, LDG plans to complete legal procedures and cooperate to develop the LDG Grand Da Nang project, and proceed with planning for the LDG Grand Ha Long project.

2025 audited results and profit decline

In its audited 2025 consolidated financial statements, LDG reported net revenue of over VND 403 billion, improving from a loss of over VND 173 billion in the previous year and broadly in line with the unaudited report.

However, net profit declined by 32.24% versus the audited figure, to VND 92.7 billion (with pre-audit profit of VND 136.8 billion). LDG attributed the lower post-audit profit to the auditor making additional provisions for bad debts compared with the unaudited report.

Financial position and accumulated losses

As of 31/12/2025, LDG reported accumulated losses of VND 1,252.3 billion, equivalent to 48.7% of charter capital. Total assets exceeded VND 8,040 billion, up 31% from the start of the year.

Auditor’s going-concern concerns

The auditor’s special report highlighted concerns about the company’s ability to continue as a going concern, citing several overdue or near-term payables at the end of 2025.

Specifically, overdue borrowings were nearly VND 728 billion, and overdue interest on borrowings exceeded VND 117 billion. Short-term payables to suppliers were over VND 142 billion, including nearly VND 73 billion overdue.

Pressure also came from payables to customers following settlements of deposits and related contracts that were overdue. The auditor noted that the High Intela and West Intela projects recorded nearly VND 121 billion overdue, the LDG Sky’s Lot C1 block over VND 225 billion, the Tan Thinh residential area over VND 44 billion, and other projects over VND 3 billion. Payables to employees exceeded VND 15 billion.

In addition, many partnership payables recorded under other payables were largely overdue. According to the auditor, these factors could lead to significant doubt about LDG’s ability to continue as a going concern.

Business line expansion

LDG also said it seeks to add business lines including real estate intermediary services, travel agency services, hotels and lodging services, and intermediary services for lodging.