The Hanoi Stock Exchange (HNX) has just announced the decision to impose an administrative fine on tax violations by the Hanoi Tax Department against Thang Long Investment Group Joint Stock Company (stock code: TIG) with a total amount of nearly 4.2 billion VND.

Specifically, the group was fined nearly VND550 million for false declaration leading to a lack of tax payable; paid the full amount of tax arrears of nearly VND2.8 billion, and late payment of VND847 million.

Regarding the business situation in the second quarter of 2024, Thang Long Investment Group recorded net revenue of VND 312 billion and profit after tax of VND 71 billion, up 25% and 6% respectively over the same period last year.

In the first 6 months of the year, this group recorded a sharp increase in net revenue of 44%, to more than 718 billion VND, but after deducting expenses, the company's after-tax profit decreased by nearly 7% compared to the same period, reaching only 121.9 billion VND.

As of the end of June 2024, the group is incurring a debt of VND 1,558 billion (same as at the beginning of 2024), of which total loans and financial lease debts are more than VND 948 billion, accounting for nearly 61%. Inventory value decreased slightly compared to the beginning of the year, down to VND 342.7 billion.

Thang Long Investment Group is an enterprise operating in the fields of trade, services, real estate investment, and financial investment.

According to the website introduction, this group owns many real estate projects such as Vuon Vua Resort & Villas project (Phu Tho province), Viettronics - Ha Thanh mixed-use building project; Hattoco 110 Tran Phu Ha Dong mixed-use building project (Hanoi)...

In the market, TIG shares are currently at VND 12,800/share, slightly higher than the reference price and compared to the beginning of 2024.