SOUTHGATE JOINT STOCK COMPANY

SOUTHGATE JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN SOUTHGATE) is a real estate investment and land trading enterprise headquartered in Ben Luc District, Long An Province. Established on 09 July 2018, the company has operated for over 7 years and focuses primarily on trading its own or rented property and land-use rights.

Structured as a joint stock company with charter capital of approximately USD 80.11 million (equivalent to VND 1,833 billion), SOUTHGATE maintains a substantial financial base relative to its years of operation. Mr. CAO TAN THACH serves as the company's chairman.

According to the financial performance table on page 2, total assets reached USD 206.1 million in 2024, up 5.32% year on year. Owner’s equity stood at USD 119.49 million, reflecting a slight 0.59% decline compared to 2023. However, revenue dropped sharply to USD 28.7 million, marking a 55.69% year-on-year contraction. Net profit also declined significantly to USD 3.19 million, down 71.92% compared to the previous year.

The three-year financial trend shows considerable volatility. Sales decreased from USD 117.94 million in 2022 to USD 64.79 million in 2023 and further to USD 28.7 million in 2024. Profit followed a similar downward trajectory, falling from USD 24.0 million in 2022 to USD 11.38 million in 2023 and then to USD 3.19 million in 2024. Despite this earnings contraction, the company’s asset base has gradually expanded, and working capital remains strong at USD 124.89 million, indicating solid liquidity.

As illustrated in the shareholder structure chart on page 3, SOUTHGATE is 50% owned by NAM LONG INVESTMENT CORPORATION, with additional shareholders including SOUTHGATE URBAN DEVELOPMENT CO., LTD (35%), THAI BINH INVESTMENT JOINT STOCK COMPANY (10%), and TAN HIEP INVESTMENT COMPANY LIMITED (5%). This ownership structure reflects strong backing from established real estate and investment groups.

With a sizeable asset base, strong liquidity position, and backing from major investors, SOUTHGATE JOINT STOCK COMPANY remains an active participant in Vietnam’s real estate sector. However, the sharp decline in revenue and profit over the past two years suggests that project cycle timing and market conditions will play a critical role in shaping its near-term financial performance.