Con Cung baby product chain reports 95% drop in 2022 profit
ConCung Investment Corporation (CCI), owner of the Con Cung baby product chain, made a post-tax profit of VND4.7 billion ($200,200) in 2022, down 95% year-on-year.
A Con Cung store, owned by Con Cung JSC. Photo courtesy of the chain.
In 2022, the company's equity reached VND729.74 billion ($31.09 million), up 0.5% compared to 2021, according to its disclosure to the Hanoi Stock Exchange (HNX). Its debt to equity ratio increased to 3.35 times, compared to 2.56 in 2021.
Notably, ConCung Investment no longer records outstanding bond debt in its equity. In 2021, it issued VND50 billion ($2.1 million) in bonds with an interest rate of 11% per year. These were non-convertible bonds without collateral and share purchase rights.
ConCung Investment is the parent company of Con Cung JSC which invests, owns, develops, and operates the Con Cung baby product chain.
Its main business activities are market research, public opinion polling, management consulting, and information technology services.
The Investor data shows that from 2017-2019, ConCung Investment did not generate a net profit, and in 2019 its net revenue was negative VND737 million ($31.4 million).
However, in the first half of 2020, despite the effects of Covid-19, the firm recorded an after-tax profit of over VND25 billion ($1.06 million), up 21 times over the previous year, while equity reached VND416 billion ($17.7 million).
Con Cung JSC focuses on developing retail chains for pregnant mothers and babies, including Con Cung, Toycity, and CF (Con Cung Fashion).
The representative of both companies is Nguyen Quoc Minh, who is also a representative of Liam JSC, another subsidiary of ConCung Investment.
Con Cung, established in 2015, quickly became a pioneering retail chain providing products for mothers and babies in the Vietnamese market.
At the beginning of 2022, Con Cung had 800 stores, and is aiming to have 2,000 stores by 2025, according to its website. In terms of scale, the chain is far ahead of its competitors like Bibo Mart, Kids Plaza, Shoptretho, and Tuti Care.
- Read More
US tariffs the preeminent concern of AmCham members in Vietnam
The most pressing concern of AmCham Vietnam's members across all sectors was the potential impact of U.S. tariffs, according to a mid-year survey by the chamber.
Economy - Thu, June 26, 2025 | 8:00 am GMT+7
Siemens wants to join high-speed railway development in Vietnam: exec
German technology giant Siemens AG wants to participate in infrastructure development projects in Vietnam, especially high-speed railways.
Economy - Wed, June 25, 2025 | 10:36 pm GMT+7
Vietnam government seeks parliament okay for private investors to develop North-South high-speed railway
The Vietnamese government on Wednesday proposed the National Assembly, the country's legislature, allow additional investment modes for the gigantic North-South high-speed railway project, apart from public investment.
Economy - Wed, June 25, 2025 | 9:21 pm GMT+7
Vietnam’s property developer Danh Khoi renamed, expands into agriculture, healthcare
Vietnam’s property developer Danh Khoi Group JSC (HNX: NRC) has changed its name to NRC Group JSC, as announced at its 2025 AGM on Tuesday.
Companies - Wed, June 25, 2025 | 4:39 pm GMT+7
Prime Minister invites Bank of China to join Vietnam's international financial center
Prime Minister Pham Minh Chinh has asked Bank of China (BOC) to join Vietnam's international financial center that will take shape in the future.
Economy - Wed, June 25, 2025 | 4:02 pm GMT+7
'The key risk I see is that Highlands does not invest fast enough': exec
Highlands will drive the growth of the Vietnamese specialty coffee segment globally, acting as a ‘flag carrier’ for Vietnamese culture by exporting Vietnamese coffee and heritage, said Tim Seltzer, CFO of Highlands Coffee.
Executive Talk - Wed, June 25, 2025 | 1:39 pm GMT+7
Vietnam aims to conclude Ninh Thuan 1 nuclear power plant talks with Russia in July
The Ministry of Industry and Trade must conclude negotiations with the Russian side in July to get an intergovernmental agreement signed on construction of the Ninh Thuan 1 nuclear power plant in central Vietnam.
Economy - Wed, June 25, 2025 | 12:17 pm GMT+7
Amazon, Eni want to purchase forest carbon credits from Vietnam: Ministry
Many international partners and foreign corporations have expressed interest in purchasing large volumes of forest carbon credits from Vietnam, according to Vietnam’s Ministry of Agriculture and Environment.
Economy - Wed, June 25, 2025 | 9:09 am GMT+7
Every Half’s sustainable coffee roastery: from beans to machines
Vietnamese coffee brand Every Half has officially opened a new roastery at its Thao Dien location in District 2, Ho Chi Minh City, which not only supplies freshly roasted beans for the entire store network but also reflects Every Half’s deep commitment to sustainability and transparency in the coffee industry.
Companies - Wed, June 25, 2025 | 8:00 am GMT+7
Dubai-Da Nang route draws global travel firms to experience Vietnam’s record-breaking cable cars
Nearly 30 representatives from leading travel agencies across Europe and the Middle East gathered in Danang following the official launch of Emirates’ direct flight route connecting Dubai to the coastal Vietnamese city earlier this month.
Travel - Tue, June 24, 2025 | 10:03 pm GMT+7
Logistics heavyweight Gemadept aims for $68.8 mln in 2025 pre-tax profit
Gemadept Corporation, a leading port and logistics company in Vietnam, on Tuesday approved its base business plan for 2025 with net revenue of VND4.85 trillion ($185.4 million) and pre-tax profit from core operations of VND1.8 trillion ($68.8 million).
Companies - Tue, June 24, 2025 | 9:59 pm GMT+7
Vietnam's retail grocery chain Bach Hoa Xanh reaches record store count
Bach Hoa Xanh, a retail grocery chain under Mobile World Investment Corporation (MWG), opened 410 new stores in the first five months of 2025, raising its total 2,180.
Companies - Tue, June 24, 2025 | 5:10 pm GMT+7
Vietnam's leading conglomerate Vingroup to issue bonds worth $38 mln for debt restructuring
Vietnam’s conglomerate Vingroup (HoSE:VIC) plans to issue VND1 trillion ($38.2 million) in corporate bonds via private placement to restructure its debt, according to a recent board resolution filed with local stock exchanges.
Companies - Tue, June 24, 2025 | 4:59 pm GMT+7
Conglomerate Xuan Thien starts work on $3.7 bln steel project in northern Vietnam
Vietnamese conglomerate Xuan Thien Group on Monday broke ground on a VND98 trillion ($3.74 billion) steel complex project in Nam Dinh province.
Industries - Tue, June 24, 2025 | 3:08 pm GMT+7
USD price in Vietnam peaks, topping VND26,300
Vietnamese banks on Tuesday raised the USD price to the central bank-regulated ceiling of VND26,310, 2.9% higher than at the beginning of the year.
Economy - Tue, June 24, 2025 | 12:30 pm GMT+7
Shareholders vote against contractor Ricons's HCMC bourse listing plan
Nearly 70% of shareholders attending the recent AGM of Vietnamese contractor Ricons voted against the company’s plan to list its shares on the Ho Chi Minh Stock Exchange (HoSE), despite the proposal having been delayed over the past two years.
Companies - Tue, June 24, 2025 | 10:55 am GMT+7
