Income Statement Son Ha Development of Renewable Energy

Stocks

SHE

VN000000SHE3

Electrical Components & Equipment

End-of-day quote HANOI S.E. 08/09/2026			5-day change	1st Jan Change
6,200.00 ^VND	0.00%		+3.33%	-8.82%

06/08	Son Ha Development of Renewable Energy Joint Stock Company Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
06/05	Son Ha Development of Renewable Energy Joint Stock Company Reports Earnings Results for the First Quarter Ended March 31, 2026	CI

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Published financial data: SON HA DEVELOPMENT OF RENEWABLE ENERGY

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2024 (VND)	2025 (VND)
Revenues	20TCr	37TCr
Total Revenues	20TCr	37TCr
Cost of Goods Sold, Total	17TCr	34TCr
Gross Profit	2.91TCr	2.87TCr
Selling General & Admin Expenses, Total	1.32TCr	1.4TCr
Other Operating Expenses, Total	1.32TCr	1.4TCr
Operating Income	1.6TCr	1.47TCr
Interest Expense, Total	-426.35Cr	-526.97Cr
Interest And Investment Income	17Cr	52Cr
Net Interest Expenses	-409.49Cr	-474.87Cr
Currency Exchange Gains (Loss)	-12Cr	15Cr
Other Non Operating Income (Expenses)	363.33Cr	558.29Cr
EBT, Excl. Unusual Items	1.54TCr	1.57TCr
Gain (Loss) On Sale Of Assets	-	1.83Cr
EBT, Incl. Unusual Items	1.54TCr	1.57TCr
Income Tax Expense	312.15Cr	318.99Cr
Earnings From Continuing Operations	1.22TCr	1.25TCr
Net Income to Company	1.22TCr	1.25TCr
Net Income - (IS)	1.22TCr	1.25TCr
Preferred Dividend and Other Adjustments	12Cr	-
Net Income to Common Incl Extra Items	1.21TCr	1.25TCr
Net Income to Common Excl. Extra Items	1.21TCr	1.25TCr
Per Share Items
Net EPS - Basic	811.02	838.05
Basic EPS - Continuing Operations	811.02	838.05
Basic Weighted Average Shares Outstanding	1.5Cr	1.5Cr
Net EPS - Diluted	811	838
Diluted EPS - Continuing Operations	811	838
Diluted Weighted Average Shares Outstanding	1.5Cr	1.5Cr
Normalized Basic EPS	642.48	656.34
Normalized Diluted EPS	642.48	656.34
Supplemental Items
EBITDA	1.82TCr	1.67TCr
EBITA	1.6TCr	1.47TCr
EBIT	1.6TCr	1.47TCr
Total Revenues (As Reported)	20TCr	37TCr
Effective Tax Rate - (Ratio)	20.31	20.29
Total Current Taxes	312.15Cr	318.99Cr
Normalized Net Income	960.71Cr	981.44Cr
Supplemental Operating Expense Items
Selling and Marketing Expenses	330.97Cr	209.63Cr
General and Administrative Expenses	984.32Cr	1.19TCr

Fiscal Period: December	2024 (VND)	2025 (VND)
Assets
Cash And Equivalents	395.66Cr	219.82Cr
Short Term Investments	820.32Cr	1.12TCr
Total Cash And Short Term Investments	1.22TCr	1.34TCr
Accounts Receivable, Total	13TCr	20TCr
Other Receivables	112.91Cr	125.88Cr
Total Receivables	13TCr	20TCr
Inventory	8.35TCr	5.93TCr
Prepaid Expenses	16Cr	15Cr
Other Current Assets, Total	648.1Cr	488.89Cr
Total Current Assets	23TCr	28TCr
Gross Property Plant And Equipment	3.93TCr	3.94TCr
Accumulated Depreciation	-1.63TCr	-1.83TCr
Net Property Plant And Equipment	2.3TCr	2.11TCr
Other Intangibles, Total	0	0
Other Long-Term Assets, Total	98Cr	48Cr
Total Assets	25TCr	30TCr
Liabilities
Accounts Payable, Total	2.7TCr	4.34TCr
Accrued Expenses, Total	380.08Cr	427.34Cr
Short-term Borrowings	6.23TCr	8.63TCr
Current Portion of Long-Term Debt	148Cr	148Cr
Current Income Taxes Payable	209.97Cr	188.99Cr
Other Current Liabilities	159.26Cr	90Cr
Total Current Liabilities	9.83TCr	14TCr
Long-Term Debt	294.5Cr	146.5Cr
Other Non Current Liabilities	91Cr	91Cr
Total Liabilities	10TCr	14TCr
Common Stock, Total	12TCr	15TCr
Retained Earnings	3.56TCr	1.33TCr
Total Common Equity	15TCr	16TCr
Total Equity	15TCr	16TCr
Total Liabilities And Equity	25TCr	30TCr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.5Cr	1.5Cr
ECS Total Common Shares Outstanding	1.5Cr	1.5Cr
Book Value / Share	10.07T	10.89T
Tangible Book Value	15TCr	16TCr
Tangible Book Value Per Share	10.07T	10.89T
Total Debt	6.67TCr	8.92TCr
Net Debt	5.46TCr	7.58TCr
Account Code - Inventory Valuation	-	6
Inventories - Work In Process, Total	56Cr	31Cr
Inventories - Finished Goods, Total	2.37TCr	1.47TCr
Inventories - Others	5.93TCr	4.78TCr
Buildings, Total	110.03Cr	110.03Cr
Machinery, Total	3.82TCr	3.83TCr
Full Time Employees	-	54
Accumulated Allowance for Doubtful Accounts (Supple)	339.04Cr	723.29Cr

Fiscal Period: December	2024 (VND)	2025 (VND)
Net Income	1.22TCr	1.25TCr
Depreciation & Amortization - CF	226.19Cr	200.11Cr
Depreciation & Amortization, Total	226.19Cr	200.11Cr
(Gain) Loss From Sale Of Asset	-17Cr	-53Cr
Other Operating Activities, Total	-39Cr	687.26Cr
Change In Accounts Receivable	-3.46TCr	-7.97TCr
Change In Inventories	425.5Cr	2.07TCr
Change In Accounts Payable	664.78Cr	1.61TCr
Change in Other Net Operating Assets	86Cr	50Cr
Cash from Operations	-885.96Cr	-2.15TCr
Capital Expenditure	-37Cr	-15Cr
Sale of Property, Plant, and Equipment	-	1Cr
Net (Increase) Decrease in Loans Originated / Sold - Investing	-388.57Cr	-300.38Cr
Other Investing Activities, Total	44Cr	37Cr
Cash from Investing	-380.86Cr	-276.82Cr
Long-Term Debt Issued, Total	13TCr	16TCr
Total Debt Issued	13TCr	16TCr
Long-Term Debt Repaid, Total	-12TCr	-14TCr
Total Debt Repaid	-12TCr	-14TCr
Cash from Financing	1.47TCr	2.25TCr
Net Change in Cash	199.81Cr	-175.84Cr
Supplemental Items
Cash Interest Paid	426.9Cr	522.91Cr
Cash Income Tax Paid (Refund)	563.71Cr	339.97Cr
Levered Free Cash Flow	-1.17TCr	-2.81TCr
Unlevered Free Cash Flow	-906.57Cr	-2.48TCr
Change In Net Working Capital	2.09TCr	3.58TCr
Net Debt Issued / Repaid	1.47TCr	2.25TCr

Fiscal Period: December	2024 (VND)	2025 (VND)
Profitability
Return on Assets	4.2	3.31
Return on Total Capital	4.89	3.92
Return On Equity %	8.47	8
Return on Common Equity	8.39	8
Margin Analysis
Gross Profit Margin %	14.82	7.69
SG&A Margin	6.7	3.74
EBITDA Margin %	9.27	4.49
EBITA Margin %	8.12	3.95
EBIT Margin %	8.12	3.95
Income From Continuing Operations Margin %	6.24	3.36
Net Income Margin %	6.24	3.36
Net Avail. For Common Margin %	6.17	3.36
Normalized Net Income Margin	4.89	2.63
Levered Free Cash Flow Margin	-5.97	-7.53
Unlevered Free Cash Flow Margin	-4.62	-6.64
Asset Turnover
Asset Turnover	0.83	1.34
Fixed Assets Turnover	8.21	16.9
Receivables Turnover (Average Receivables)	1.82	2.27
Inventory Turnover (Average Inventory)	1.95	4.82
Short Term Liquidity
Current Ratio	2.33	2.04
Quick Ratio	1.41	1.57
Operating Cash Flow to Current Liabilities	-0.09	-0.16
Days Sales Outstanding (Average Receivables)	201.51	160.67
Days Outstanding Inventory (Average Inventory)	187.22	75.72
Average Days Payable Outstanding	53.75	40.16
Cash Conversion Cycle (Average Days)	334.98	196.23
Long Term Solvency
Total Debt/Equity	44.31	54.78
Total Debt / Total Capital	30.7	35.39
LT Debt/Equity	1.96	0.9
Long-Term Debt / Total Capital	1.36	0.58
Total Liabilities / Total Assets	40.42	46.32
EBIT / Interest Expense	3.74	2.79
EBITDA / Interest Expense	4.27	3.17
(EBITDA - Capex) / Interest Expense	4.19	3.15
Total Debt / EBITDA	3.66	5.33
Net Debt / EBITDA	3	4.53
Total Debt / (EBITDA - Capex)	3.74	5.38
Net Debt / (EBITDA - Capex)	3.06	4.57
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	6.31	89.79
Gross Profit, 1 Yr. Growth %	-22.86	-1.5
EBITDA, 1 Yr. Growth %	-	-8.21
EBITA, 1 Yr. Growth %	-33.25	-7.74
EBIT, 1 Yr. Growth %	-33.25	-7.74
Earnings From Cont. Operations, 1 Yr. Growth %	-31.16	2.3
Net Income, 1 Yr. Growth %	-31.16	2.3
Normalized Net Income, 1 Yr. Growth %	-31.37	2.16
Diluted EPS Before Extra, 1 Yr. Growth %	-31.85	3.33
Accounts Receivable, 1 Yr. Growth %	37.91	61.77
Inventory, 1 Yr. Growth %	-4.73	-29.03
Net Property, Plant and Equip., 1 Yr. Growth %	-7.62	-8.07
Total Assets, 1 Yr. Growth %	13.66	20.03
Tangible Book Value, 1 Yr. Growth %	8.67	8.13
Common Equity, 1 Yr. Growth %	8.67	8.13
Cash From Operations, 1 Yr. Growth %	-129.36	142.34
Capital Expenditures, 1 Yr. Growth %	-	-59.75
Levered Free Cash Flow, 1 Yr. Growth %	-135.28	139.25
Unlevered Free Cash Flow, 1 Yr. Growth %	-124.58	173.24
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-13.71	42.04
Gross Profit, 2 Yr. CAGR %	-13.18	-12.83
EBITA, 2 Yr. CAGR %	-17.41	-21.52
EBIT, 2 Yr. CAGR %	-17.41	-21.52
Earnings From Cont. Operations, 2 Yr. CAGR %	-20.97	-16.08
Net Income, 2 Yr. CAGR %	-20.97	-16.08
Normalized Net Income, 2 Yr. CAGR %	-20.86	-16.27
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-16.08
Accounts Receivable, 2 Yr. CAGR %	12.27	49.36
Inventory, 2 Yr. CAGR %	3.02	-17.77
Net Property, Plant and Equip., 2 Yr. CAGR %	-8.93	-7.84
Total Assets, 2 Yr. CAGR %	0.14	16.8
Tangible Book Value, 2 Yr. CAGR %	11.49	8.4
Common Equity, 2 Yr. CAGR %	11.49	8.4
Cash From Operations, 2 Yr. CAGR %	-53.69	-15.65
Levered Free Cash Flow, 2 Yr. CAGR %	-	-8.13
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-18.05
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	12.22
Gross Profit, 3 Yr. CAGR %	-	-9.45
EBITA, 3 Yr. CAGR %	-	-14.3
EBIT, 3 Yr. CAGR %	-	-14.3
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-13.87
Net Income, 3 Yr. CAGR %	-	-13.87
Normalized Net Income, 3 Yr. CAGR %	-	-13.83
Accounts Receivable, 3 Yr. CAGR %	-	26.81
Inventory, 3 Yr. CAGR %	-	-9.02
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-8.64
Total Assets, 3 Yr. CAGR %	-	6.37
Tangible Book Value, 3 Yr. CAGR %	-	10.36
Common Equity, 3 Yr. CAGR %	-	10.36
Cash From Operations, 3 Yr. CAGR %	-	-19.6
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-4.48	-
Gross Profit, 5 Yr. CAGR %	-6.6	-
EBITA, 5 Yr. CAGR %	-11.79	-
EBIT, 5 Yr. CAGR %	-11.79	-
Earnings From Cont. Operations, 5 Yr. CAGR %	-13.79	-
Net Income, 5 Yr. CAGR %	-13.79	-
Normalized Net Income, 5 Yr. CAGR %	-13.77	-
Diluted EPS Before Extra, 5 Yr. CAGR %	-14.37	-
Accounts Receivable, 5 Yr. CAGR %	11.59	-
Inventory, 5 Yr. CAGR %	32.35	-
Net Property, Plant and Equip., 5 Yr. CAGR %	39.1	-
Total Assets, 5 Yr. CAGR %	16.31	-
Tangible Book Value, 5 Yr. CAGR %	14.46	-
Common Equity, 5 Yr. CAGR %	14.44	-
Cash From Operations, 5 Yr. CAGR %	-11.37	-
Levered Free Cash Flow, 5 Yr. CAGR %	3.63	-
Unlevered Free Cash Flow, 5 Yr. CAGR %	-1.57	-