HCMC – The Hochiminh Stock Exchange (HOSE) has announced it will place NVL shares of No Va Land Investment Group Corporation (Novaland) on the watch list on September 23.
The decision came after the company missed the 15-day deadline to submit its audited semi-annual financial statements for 2024.
Novaland’s consolidated earnings report for the second quarter showed revenue of VND2.25 trillion in the first half of the year, up by nearly 35% year-on-year. The real estate developer posted net profit of VND344.6 billion, reversing a loss of nearly VND1.1 trillion in the same period last year.
The firm’s profit surged, primarily driven by a five-fold increase in financial income compared to the same period in 2023, reaching VND3.9 trillion.
Novaland has set a target of VND32.56 trillion in revenue and VND1.08 trillion in net profit for 2024, representing sharp increases of 585% and 122%, respectively. By the end of June, the company had achieved 6.9% of its revenue goal and 31.94% of its profit target.
As of June 30, 2024, Novaland’s total assets dropped by VND1.3 trillion versus the start of the year, at VND240.18 trillion. Inventory accounted for 59% of total assets, largely tied to ongoing construction projects. Meanwhile, the company’s liabilities reached VND194.5 trillion, or 81% of its total capital.
Closing the trading session today, September 17, NVL remained flat at VND11,200 per share, with a trading volume of nearly 30.7 million shares, the highest on the HOSE.
The VN-Index rose 19,69 points, or 1.59% on Tuesday, closing at 1,258.95 points, driven by widespread gains of bluechip stocks. The southern exchange saw 312 winners and 88 losers.
Trading volume and value on the HOSE edged up by 4% and 3% over the previous session to nearly 632.2 million shares and VND13.53 trillion, respectively. Block deals accounted for 171.4 million shares valued at around VND3 trillion.
VHM rose the highest among the 30 largest-cap stocks, gaining 5.4% to VND44,000 per share, with 15.78 million shares traded. VRE followed, rising by 2.7% to VND19,400 per share with over six million shares changing hands. Other major stocks such as BID, GVR and VNM added 2% to 2.5%.
The VN30 basket saw 29 blue chips advancing, while PLX remained unchanged at the close. The VN30-Index added 22.28 points, or up 1.74% over the session earlier, to 1,303.65 points.
The HNX-Index of the Hanoi Stock Exchange followed a similar trend, gaining 1.46 points, or 0.63%, to 232.3 points. The northern exchange saw 103 advancers and 58 decliners, with a trading volume of over 45 million shares valued at VND869.4 billion.
