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Giấy phép số 4978/GP-TTĐT do Sở Thông tin và Truyền thông Hà Nội cấp ngày 14 tháng 10 năm 2019 / Giấy phép SĐ, BS GP ICP số 2107/GP-TTĐT do Sở TTTT Hà Nội cấp ngày 13/7/2022.
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MB Securities Joint Stock Company (MBS) reported its Q1 2026 financial results, becoming one of the first brokerage firms to reveal the three-month performance. Specifically, MBS recorded operating revenue of VND 1,019 billion, up 52% year over year. In the proprietary trading segment, profit from financial assets measured at fair…
Song Phuong Industry - Real Estate and Construction Co., Ltd, the developer of the Amira Chơn Thành project, reported 2025 financial results with a net loss after tax of 2.4 billion VND. Although the loss narrowed significantly compared with 2024, the company has continued to record losses over an extended period.
In 2023, the company also posted a loss of 1.8 billion VND, bringing cumulative losses to more than 40.2 billion VND. The prolonged weak business performance has resulted in negative retained earnings, which in turn affects the quality of the company’s equity.
As of the end of 2025, Song Phuong’s equity was 659.6 billion VND, slightly lower than at the beginning of the year. Owners’ contributed capital stood at 700 billion VND, indicating that accumulated losses have eroded the contributed capital.
Total liabilities continued to increase, nearing 1,000 billion VND. Bond debt accounted for the largest portion at 748.5 billion VND, alongside 105.3 billion VND in bank borrowings and about 150 billion VND in other payables.
Given the company has not generated stable profits, the financial obligations from these debts are substantial.
Despite ongoing losses, data from HNX indicates that Song Phuong still ensured timely payment of bond interest. In 2025, total interest paid on the two bond issues amounted to over 66.7 billion VND.
This suggests the company remains committed to bondholders, while also highlighting cash-flow pressure as it balances debt servicing against weak operating performance.
Song Phuong was established in 2008 and has undergone changes in shareholder structure and management. By March 2024, Ms. Nguyen Thi Phuoc returned to assume the role of Director and legal representative of the company.
The company is currently the investor in the Phuoc Thang Residential Area (Amira Chơn Thành), covering 55.4 hectares. The project is expected to play an important role in improving cash flow and supporting the company in gradually overcoming its current difficulties.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
