Thuduc House (TDH) has officially had its tax enforcement decisions canceled after a 5-year legal battle, removing restrictions on its invoices, customs procedures, and bank accounts, which is expected to resolve major operational difficulties.
Thuduc House announced it has received a final administrative court ruling, resulting in the tax authority lifting all enforcement measures and tax debt notices related to over VND 365 billion in late payments, removing a major legal obstacle for the company.
Thuduc House (TDH) targets 2026 net profit of VND 38.5B, down 64% year-on-year, while DIC Corp (DIG) expects revenue to fall 37% and Sonadezi Chau Duc (SZC) projects an 84% profit drop. The coordinated guidance cuts reflect persistent challenges in Vietnam's real estate sector, despite continued capital expenditure plans.
Thuduc House (TDH) projects a 64% drop in 2026 net profit to VND 38.5B, while DIC Corp (DIG) expects a 27% decline in pre-tax profit to VND 600B, as part of a broader trend among listed real estate firms. This coordinated guidance cut reflects persistent sector headwinds despite ongoing project investment, with Sonadezi Châu Đức (SZC) planning the steepest profit reduction at 84%.
Thuduc House (TDH) is addressing a 365.5B VND tax refund misappropriation case from 2017-2019, which led to negative retained earnings and a warning status on HoSE. The company has received 32.3B VND in enforcement payments but faces monthly tax enforcement decisions exceeding 91B VND, while its entire board of directors resigned in late 2024.
Thuduc House (TDH) Chairman Nguyễn Quang Nghĩa and all current board members have resigned, leaving the HoSE-listed real estate developer without a functioning board. This follows the CEO's departure in November 2024 and comes amid monthly tax enforcement actions totaling over VND 91B related to a VND 365.5B smuggling case.
Thuduc House (TDH) shares gained nearly 30% over one week despite Chairman Trương Quang Nghĩa selling 20.7 million shares to reduce his stake to 0.05% and Board member/Chair of the Audit Committee Võ Thị Tường Vy resigning. The stock's resilience suggests investor focus on broader real estate sector momentum or potential restructuring, outweighing near-term governance concerns.