Vietnam's chemical group DGC lowers 2025 net profit goal, makes foray into real estate
Duc Giang Chemicals Group, a leading industry player in Vietnam, has set a 2025 net profit target of VND3 trillion ($116.91 million), down 3% year-on-year.
Listed on the Ho Chi Minh Stock Exchange as DGC, the firm targets VND10.38 trillion ($404.52 million) in revenue this year, up 5% year-on-year.
In the first quarter of this year, the firm posted VND2.7 trillion ($105.22 million) in revenue and VND800 billion ($31.18 million) in profit, said chairman Dao Huu Huyen at the 2025 AGM on Monday.
Duc Giang Chemicals Group holds its 2025 AGM on March 31, 2025. Photo courtesy of Mekong ASEAN magazine.
DGC plans to maintain a cash dividend of 30% this year, consistent with the 2024 level.
The company also intends to allocate VND1.2 trillion ($46.77 million) to the Duc Giang Nghi Son chemicals complex project in the central province of Quang Ngai, VND40 billion ($1.56 million) to expand the Tia Sang battery plant in the northern port city of Hai Phong, and VND50 billion ($1.95 million) to complete the Dak Nong alcohol factory.
Duc Giang also plans to repair and upgrade a detergent factory in the northern province of Hung Yen, expand the Dinh Vu warehouse in Hai Phong city to facilitate solvent imports, and expand an existing apatite quarry by an additional 1,000 hectares in the northern province of Lao Cai.
Notably, Duc Giang is venturing into the real estate sector with a 5.4-hectare apartment project in Long Bien district, Hanoi. The company expects to commence the project this year, featuring 1,000 apartments and 60 townhouses. It is projected to generate VND5 trillion ($194.86 million) in revenue and VND1 trillion in profit.
In addition, Duc Giang also plans develop a social housing project on three hectares of the Tia Sang battery plant land, expecting a profit of VND300-500 billion ($11.69-19.49 million).
Clarifying the company’s foray into real estate, DGC chairman Dao Huu Huyen stated at the 2025 AGM on Monday that the firm wants make use of available land for property projects rather than pursuing a multi-sector corporate model.
DGC shares have dropped 15% since early this year, closing at VND98,200 ($3.82) each on Tuesday.
- Related News
- Read More
Hyundai Vietnam joint venture to spend $100 mln on shipbuilding capacity expansion
Hyundai Vietnam Shipbuilding Co., Ltd. (HVS), a joint venture between South Korea and Vietnam, is set to invest an extra $100 million in expanding its shipbuilding capacity in Vietnam.
Industries - Fri, May 2, 2025 | 8:03 pm GMT+7
Vietnam's economic hub HCMC moves closer to establishing int’l financial center
After more than two decades of planning, the vision of establishing an international financial center in Ho Chi Minh City is finally gaining real momentum as the Politburo has officially endorsed the proposal, drawing significant attention from investors.
Southeast Asia - Fri, May 2, 2025 | 6:04 pm GMT+7
Vietnam cuts LNG import tariff to boost clean energy transition
The Vietnamese Government has reduced the preferential import tariff on LNG from 5% to 2% under a decree issued on March 31, which marks a key step in accelerating the country’s shift from fossil fuels to cleaner energy.
Southeast Asia - Fri, May 2, 2025 | 3:26 pm GMT+7
Vietnam races against time to have EC’s 'yellow card' lifted before Sept 15
Vietnam's Ministry of Agriculture and Environment has proposed Prime Minister Pham Minh Chinh issue an action plan to address the European Commission's (EC) “yellow card” warning and prepare for the fifth EC inspection.
Southeast Asia - Fri, May 2, 2025 | 3:21 pm GMT+7
Vietnam's property market sees mixed prospects in Q2: analysts
Vietnam’s real estate market is expected to see positive developments in Q2, with developers launching new projects, but uncertainties from U.S. trade policies may influence market sentiment and consumer confidence, said analysts.
Real Estate - Fri, May 2, 2025 | 3:14 pm GMT+7
Vietnam’s largest container fleet operator records 478% profit growth in Q1 on surging shipping rates
Vietnam’s Hai An Transport and Stevedoring JSC (HAH) reported after-tax profit of nearly VND274 billion ($10.54 million) in Q1/2025, skyrocketing 478% year-on-year, thanks to soaring shipping rates.
Companies - Fri, May 2, 2025 | 3:00 pm GMT+7
Vietnam's leading construction contractor Hoa Binh targets US market amid low domestic profit
Hoa Binh Construction Group, one of Vietnam's top contractors, is negotiating a joint venture agreement with American partners to pave the way for implementing major projects in the U.S.
Companies - Fri, May 2, 2025 | 2:04 pm GMT+7
Northern Vietnam province Hai Duong to have first urban area-golf course complex
Hai Duong province's authorities have granted in-principle approval for the Lien Hong New Urban Area and Golf Course project, with a total investment of VND11 trillion ($423 million).
Real Estate - Fri, May 2, 2025 | 9:59 am GMT+7
Central Vietnam 'awakened' by major resort projects
From once-abandoned coastal lands to emerging resort-urban areas, central Vietnam is witnessing a strong resurgence of investment.
Real Estate - Fri, May 2, 2025 | 9:22 am GMT+7
Vietnam Airlines posts strong profit on international passenger surge, fuel price decline
National flag carrier Vietnam Airlines (HVN) said on Wednesday that it recorded consolidated pre-tax profit of around VND3.6 trillion ($138 million) on consolidated revenue of approximately VND31.1 trillion ($1.2 billion) in Q1/2025.
Companies - Fri, May 2, 2025 | 8:17 am GMT+7
S Korean firms pledge nearly $2 bln in new investments in Indonesia
South Korea's companies will increase their investment in Indonesia by $1.7 billion, Indonesian Economic Minister Airlangga Hartarto said on Monday after attending a meeting between a Korean business association and President Prabowo Subianto.
Southeast Asia - Thu, May 1, 2025 | 10:01 pm GMT+7
Malaysia develops sustainable semiconductor ecosystem
The Malaysian Investment Development Authority (MIDA), the Federation of Malaysian Manufacturing (FMM), and Bintang Capital Partners (Bintang Capital) on Monday announced a landmark MoU signed recently regarding the establishment of Bintang Semiconductor Impact Fund I (BSIF I).
Southeast Asia - Thu, May 1, 2025 | 9:59 pm GMT+7
Vietnam to become second-largest economy in Southeast Asia by 2036: CEBR
The Centre for Economic and Business Research (CEBR), in its report World Economic League Table 2022, forecasts that Vietnam will become the second-largest economy in Southeast Asia after Indonesia and the 20th-largest economy in the world by 2036.
Southeast Asia - Thu, May 1, 2025 | 9:42 pm GMT+7
Vietnam conglomerate Vingroup's Q1 revenue surpasses $3 bln for first time
Vingroup, Vietnam's leading private conglomerate, recorded revenue of VND84.05 trillion ($3.3 billion) in the first quarter of 2025, its record high.
Companies - Thu, May 1, 2025 | 3:44 pm GMT+7
Work starts on expressway connecting Vietnam's Central Highlands with southeastern region
Construction on Tuesday began on the first component of Gia Nghia town (the Central Highlands province of Dak Nong)-Chon Thanh town (the southeastern province of Binh Phuoc) section of the North-South Expressway.
Infrastructure - Thu, May 1, 2025 | 2:46 pm GMT+7
Final sections of central Vietnam’s longest sea-crossing bridge joined
Authorities of Hue city in central Vietnam on Wednesday held a ceremony to celebrate the joining of the final sections of Thuan An sea-crossing bridge, a landmark infrastructure project with significant implications for local development and tourism.
Infrastructure - Thu, May 1, 2025 | 2:35 pm GMT+7
