News about Quốc Cường Gia Lai

Quốc Cường Gia Lai posted a third-quarter net loss of nearly 7 billion VND, its first loss since mid-2024 and its weakest result in two years, shortly after Nguyễn Thị Như Loan returned as CEO in place of her son. Q3 revenue was 27 billion VND, nearly five times lower than a year earlier, due to fewer apartment handovers and no electricity sales after the hydropower plants were transferred. Gross profit fell 91% to 4 billion VND, compared with a profit of over 24 billion VND in the same period last year. For the first nine months, revenue reached 107 billion VND, far below the full-year target of 2,403 billion VND, but after-tax profit was nearly 175 billion VND thanks to 243 billion VND in other income from the hydropower disposal. At end-September, total assets were nearly 8,200 billion VND, down about 550 billion VND from the start of the year, while liabilities fell from nearly 4,000 billion to under 3,300 billion VND.

QCG shares rose to the daily limit of 10,300 dong, with nearly 200,000 shares in buy orders, after Nguyen Thi Nhu Loan returned as CEO and legal representative. Despite a weak VN-Index and falling real estate stocks, the stock stayed above its 10,000-dong par value, and over 110,000 shares changed hands before the lunch break. The leadership change from Nguyen Quoc Cuong to Ms. Loan followed her completion of a sentence in a case involving a 6,000 m2 plot at 39-39B Ben Van Don that was illegally transferred to private hands. After her arrest in mid-July 2024, the stock fell nine straight sessions, seven of them at the floor, losing nearly half its value within two weeks, and has since recovered about 75%. Its market capitalization is 2,800 billion dong, and her roughly 102 million shares are worth an estimated 1,050 billion dong at market value.

Shares of Quốc Cường Gia Lai (QCG) hit the daily limit up to VND 10,300 per share in the morning session of 14/9, their highest level in about a month, after Nguyễn Thị Như Loan returned as CEO, replacing Nguyễn Quốc Cường. According to the appellate verdict, Loan, arrested in July 2024 over the 39-39B Bến Vân Đồn land plot case, had her sentence reduced to 11 months and 18 days of non-custodial reform; her 116 days in pre-trial detention were credited, so she has completed the sentence. Nguyễn Quốc Cường, who ran the company for two years in her place, acknowledged in a farewell letter that results fell short of shareholder expectations. In the first half of 2026, revenue was about VND 80 billion, roughly one-third of the year-earlier level, while after-tax profit exceeded VND 181 billion, 18 times higher, mainly from asset liquidation and the sale of a hydropower plant. Revenue remains far below the full-year plan of VND 2,403 billion.