Mr. Nguyen Quoc Cuong lent money to Quoc Cuong Gia Lai Company.

In the third quarter of 2024, Mr. Nguyen Quoc Cuong (commonly known as Cuong "dollar") lent Quoc Cuong Gia Lai Joint Stock Company 30 billion VND.

Mr. Nguyen Quoc Cuong talks with shareholders at the shareholders' meeting of Quoc Cuong Gia Lai - Photo: BONG MAI

Quoc Cuong Gia Lai Joint Stock Company (QCG) has just announced its consolidated financial report with quite surprising results. Both revenue and profit in this quarter were several times higher than the same period last year.

QCG's net revenue in the third quarter reached VND178 billion, more than 2.6 times higher than the third quarter of last year.

In addition, QCG also recorded another source of income of nearly 16 billion VND from contract compensation. In addition, most types of expenses were reduced by the company.

QCG's after-tax profit this quarter reached nearly 25.4 billion VND, nearly 2.5 times higher than the same period.

In a written explanation sent to the State Securities Commission, Mr. Nguyen Quoc Cuong - General Director of QCG, said that the business results in the third quarter of this year increased due to the company handing over apartments to customers.

Accumulated in the first 9 months of this year, QCG reported net revenue of 243 billion VND, down 12% compared to the first 9 months of last year. However, profit after tax reached more than 8.7 billion VND, while in the same period, it had a loss of 3.4 billion VND.

At the end of September 2024, QCG recorded total assets of VND 9,337 billion, mostly in inventory with more than VND 6,900 billion.

On the other side of the balance sheet, QCG's liabilities decreased from more than VND 5,225 billion at the beginning of the year to VND 4,822 billion after 9 months.

Notably, among the payables detailed in the financial report, QCG has an additional loan of 30 billion VND from Mr. Nguyen Quoc Cuong - the company's general director.

Previously, Mr. Cuong sat in the "hot seat" of QCG right after Ms. Nguyen Thi Nhu Loan - Mr. Cuong's mother - was prosecuted.

On the stock market, Quoc Cuong Gia Lai’s QCG shares are recovering from the bottom. The increase in Quoc Cuong Gia Lai’s QCG shares started from October 9th until now.

As a result, after only 1 month, this code has increased by 70%, reaching the price range of 12,200 VND/share in today's trading session (November 1).

Source: https://tuoitre.vn/ong-nguyen-quoc-cuong-cho-cong-ty-quoc-cuong-gia-lai-muon-tien-2024110113061053.htm