Quang Ngai Duong, the owner of Vinasoy soy milk, reported over 7,300 billion VND in currency and equivalents by the end of March. This includes over 6,760 billion VND deposited in the bank for a term of 3-12 months and an additional 503 billion VND in shorter-term deposits. The company also had more than 957,000 USD deposited in the bank, valued at over 24 billion VND according to Vietcombank’s exchange rate.
In addition to cash and foreign currency, QNS also held two tael of gold bars and one tael of SJC gold ring, initially purchased in 2023. The current value of the gold is almost 40.5 million VND. Despite having over 15.6 billion VND in cash on hand, this is a decrease of 11% compared to the start of the year.
Quang Ngai Sugar Joint Stock Company (QNS) released a financial report detailing their total assets at over 13,577 billion VND by the end of March, an increase of 13% from the beginning of the year. This increase was due to favorable business performance from Vinasoy soy milk, which contributed to a profit of nearly 532 billion VND in the first quarter alone.
Despite challenging economic circumstances, QNS recorded an increase in beer and confectionery consumption. The company plans to invest heavily in markets and raw material areas, particularly sugarcane and soybeans with revenue target set at 9,000 billion VND and profit target set at