Businesses make huge profits, stocks increase sharply, tycoon Dao Huu Huyen has more than a thousand billion

In the third quarter business results, chemical giant Dao Huu Huyen continued to make huge profits. Meanwhile, DGC shares surged, increasing by 20%, causing the Chairman's assets to increase by nearly 1,000 billion VND.

Duc Giang Chemical Joint Stock Company (DGC) of chemical giant Dao Huu Huyen has just announced its consolidated financial report for the third quarter with net revenue of VND 3,696 billion, up 75% over the same period. As a result, gross profit after tax was VND 1,646 billion, 2.6 times higher than the same period in 2021. Revenue from financial business activities in the third quarter of DGC increased by 255% to VND 144 billion, while financial expenses increased by 38% to VND 15 billion.

In the first 9 months of the year, DGC achieved net revenue of VND 11,333 billion, profit after tax reached VND 4,917 billion, 4.4 times higher than the same period in 2021. DGC set a revenue plan of VND 12,117 billion in 2022, so with the results up to the end of the third quarter, the enterprise has achieved more than 90% of the target.

According to the financial report of the Parent Company, in the first 9 months of 2022, DGC invested thousands of billions of VND in subsidiaries and associates. Of which, it invested 2,780 billion VND in Duc Giang - Lao Cai Chemical Company Limited, 1,000 billion VND in Duc Giang - Nghi Son Company, 500 billion VND in Duc Giang Real Estate Company and 300 billion VND in Duc Giang Dak Nong Company.

Mr. Dao Huu Huyen (Photo: DGC)

Notably, with huge profits in the past 9 months, DGC paid dividends to its subsidiaries with an amount of more than 1,500 billion VND.

DGC recorded a historic high profit in the first quarter of 20222 with more than VND 1,500 billion, an increase of nearly 5.2 times compared to the same period last year. This enterprise sets a target of after-tax profit of VND 3,500 billion in 2022, an increase of 39% compared to the previous year.

On the stock market, DGC shares have recorded a strong breakthrough in the last 10 sessions, reaching 81,000 VND/share in the session on October 19, up 20%, after falling to a one-year low of 67,000 VND/share. Therefore, the assets of the DGC Chairman have increased by nearly 1,000 billion VND.

Mr. Huyen currently holds 68.7 million shares, equivalent to 18.6% at Duc Giang Chemicals.

Remember, Chairman of Duc Giang Chemicals, Mr. Dao Huu Huyen once attracted attention when he announced that a cleaning staff also had assets of 35 billion VND and an engineer had more than 100 billion VND thanks to owning DGC shares. At that time, Mr. Huyen said that hundreds of DGC employees bought new cars in 2021.

Over the past two years, chemical and fertilizer companies have made a strong breakthrough thanks to soaring product prices. DGC is the leading exporter of yellow phosphorus. Phosphorus prices have recently increased dramatically. As a result, DGC's stock price has increased about sixfold in just over two years, thereby helping the assets of the company's leaders and employees skyrocket.

Source: https://vietnamnet.vn/co-phieu-tang-manh-dai-gia-dao-huu-huyen-them-nghin-ty-2072095.html