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Phat Dat Reports H1 Revenue Surge Despite CEO Exit Ban Warning

Phat Dat's H1 revenue soars, but annual targets remain elusive. CEO's exit ban warning raises concerns about the company's future.

,   and  Administrator
2 min read
In this image I can see a poster which has so many buildings and text highlighted on it.
In this image I can see a poster which has so many buildings and text highlighted on it.

Phat Dat Reports H1 Revenue Surge Despite CEO Exit Ban Warning

Phat Dat Real Estate Development Corporation, despite facing an exit ban warning against its CEO Bui Quang Anh Vu, has reported significant revenue and profit increases in H1/2025. The company, however, fell short of its annual targets and has expressed concerns about the warning's impact on its legal rights.

Phat Dat's net revenue and after-tax profit in H1/2025 surged to VND458 billion ($17.47 million) and VND115.5 billion ($4.25 million) respectively, marking a 2.7 times and 13.2% increase year-on-year. Despite this growth, the company achieved only 14% and 15.9% of its annual revenue and after-tax profit targets by mid-2025.

The company's cash holdings, however, dropped significantly in the same period, from VND343.7 billion to VND25.2 billion ($961,098). Phat Dat's interest-bearing debt also increased to VND5,680 billion, primarily due to bank borrowings for project financing and asset acquisition.

Phat Dat has secured all necessary permits for the Thuan An 1 project in Ho Chi Minh City and has sold an 80% stake to a foreign partner. The company also plans to launch another 1,000 units at La Pura in Ho Chi Minh City in September. For H2/2025, Phat Dat has set ambitious targets of VND3,300 billion ($125.86 million) in revenue and VND728 billion ($27.76 million) in after-tax profit.

Phat Dat has fulfilled its tax obligations and received official confirmation on September 26, 2025. However, an exit ban warning was issued against its CEO, Bui Quang Anh Vu, on October 4, 2025, despite the company's claim of having settled its tax obligations. The company asserts that the warning is inappropriate and affects its legal rights and interests.

Phat Dat Real Estate Development Corporation has shown significant financial growth in H1/2025 but has fallen short of its annual targets. The company's cash holdings and debt levels have fluctuated, and it has faced an exit ban warning against its CEO. Despite these challenges, Phat Dat continues to secure permits for its projects and plans to launch new units, with ambitious targets set for H2/2025.

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