TJC

Dịch vụ Vận tải và Thương mại ·HNX ·2026Q1

▲ Showing improvement

Operating efficiency is improving Net margin 126.99%, +40.99pp YoY

Price

10,600

Latest close

04 Jun 2026

P/E 18.43x

P/B 0.50x

EPS 575

BVPS 21,104

ROE 2.8%

ROA 2.7%

Profit Margin 127.0%

Asset Turnover 0.02x

Equity Mult. 1.01x

TTM · Applied to: EPS, ROE, ROA, Net Margin, Asset Turnover, Debt/Equity

What Is Changing

On a TTM 2026Q1 basis, TJC has not accelerated revenue sharply, but profitability is improving visibly — the growth momentum has held across consecutive periods. More notably, profit relies heavily on non-core sources while operating cash flow is negative — these two factors together suggest earnings quality needs cautious evaluation.

	                            
	                                TTM REVENUE
	                            
	                                    VND 4bn
	                                
+17.6%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 5bn
	                                
+73.7%YoY

	                            
	                                Net financial result / PBT
	                            
	                                    123.5%
	                                
affects earnings quality

Metric	2025	2024	2023	2022	2021
Revenue	3.9	3.3	65.4	167.4	144.7
Growth	+16%	-95%	-61%	+16%	—
Net Income	4.3	2.2	40.0	49.4	17.2
Net Margin	110.76%	64.42%	61.16%	29.48%	11.92%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	0.9	0.9	1.0	1.0	0.9	0.9	0.9	0.6	1.0	14.5	19.2	16.2
Growth	+0%	-9%	+3%	+6%	+6%	-3%	+58%	-41%	-93%	-25%	+18%	—
Net Income	1.4	1.5	1.0	1.0	0.9	0.7	0.7	0.5	0.2	43.3	1.0	-2.5
Net Margin	151.41%	160.26%	101.45%	99.10%	96.14%	76.24%	81.65%	91.38%	21.58%	298.99%	5.33%	-15.57%

Drivers of TJC's profit

TTM

Net profit attributable to parent increased vs last year, mainly helped by higher financial income. Supporting and offsetting drivers:

Financial income ↑ 1.1bn

Administrative expenses ↓ 0.8bn

Gross profit ↑ 0.4bn

Tax ↑ 0.5bn

TTM

Net profit attributable to parent increased vs prior quarter, mainly helped by lower administrative expenses. Supporting and offsetting drivers:

Administrative expenses ↓ 0.4bn

Financial income ↑ 0.2bn

Tax ↑ 0.1bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 1.6% = 86.0% × 0.02 × 1.02

2026Q1 2.8% = 127.0% × 0.02 × 1.01

ROE rose from 1.6% to 2.8% — mainly driven by net margin, despite leverage moving in the opposite direction.

Net margin: 127.0% +41.0pp Asset turnover: 0.02x +0.00x Leverage: 1.01x -0.01x

Is the profit sustainable?

Accounting profit is positive but operating cash flow has not caught up — needs more time to confirm.

very positive positive stable watch under pressure

What is driving the margin?

Net margin expanded to 126.99%, rising 41.0pp. The main driver is SG&A / Revenue fell 44.0pp and Gross margin rose 3.9pp, moving in line with the stronger net margin (with lingering pressure from Net financial result / Revenue fell 1.7pp).

The improvement comes from core operations — this is a high-quality margin expansion.

Profitability trend

Net Margin 126.99% +41.0pp

Gross Margin 48.01% +3.9pp

SG&A / Revenue 90.36% −44.0pp

Non-core / Revenue 196.66% −1.7pp

TTM YoY · 2025Q1 -> 2026Q1

Watchpoints

Financial result share remains high

Even though contribution decreased by 1.7pp, financial result still accounts for 123.5% of PBT — earnings durability should be monitored in coming periods.

Is capital being used efficiently?

Capital efficiency should be read in industry context — ROIC may fluctuate with business specifics.

Is capital being deployed efficiently?

Track how much operating profit the business generates on invested capital.

Industry characteristics make ROIC cyclical — this is a reference signal and should be read with the business context.

CAPITAL EFFICIENCY TREND

ROIC — —

NOPAT Margin 123.04% +36.9pp

Capital Turnover — —

Average Invested Capital — —

Balance Sheet

ROIC above should be read with industry context — the balance sheet below adds perspective. Balance sheet is exceptionally sound — liabilities at 0.01x equity, with a net cash position equivalent to 0.19x equity.

Over the last 12 months, working capital released 0.1bn of cash, mainly thanks to lower receivables. Pressure from lower payables only partly offset that benefit.

Working Capital Drivers

Receivables decreased → higher CFO: +0.2bn

Inventories were broadly stable → neutral CFO: —

Payables decreased → lower CFO: −0.1bn

Working Capital Efficiency

Cash conversion cycle lengthened by 191.1 days versus the same period last year. The main moves came from DIO fell 1.4 days, DSO fell 92.8 days, and DPO fell 285.3 days.

Working capital cycle lengthened mainly due to shorter payment timing — may reflect pressure from suppliers.

Watchpoints

Cash conversion cycle is lengthening

CCC is up by +191.1 days, indicating weaker working-capital turnover versus the prior year.

Working Capital Efficiency

Receivables 141.6 days −92.8 days

Inventory 15.1 days −1.4 days

Payables 76.9 days −285.3 days

Cash Conversion Cycle 79.7 days +191.1 days

Is financial risk significant?

Check leverage, liquidity, and cash-flow conversion.

Leverage & Liquidity

Track net leverage, interest coverage, and the liquidity buffer on the balance sheet.

Debt maturity and the cash buffer remain the two key areas to monitor.

Some leverage signals are missing, so the current read should be treated as contextual.

Leverage and liquidity trend

Net Debt / Equity -0.19x —

Interest Coverage — —

Cash / Debt — —

Short-term Debt / Total Debt — —

CFO / NI -0.30x −0.32x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

Operating cash flow reached -1.8bn in 2025, against investing cash flow of 1.4bn.

Post-investment cash flow was negative +0.4bn. Financing cash flow was negative +7.7bn.

CFO / net income was -0.30x.

Track how much investment can be funded internally from operating cash flow.

Cash capex or FCF data is incomplete, so the cash-conversion view is only partial.

Cash Conversion

CFO TTM 1.5bn −1.6bn

Cash Capex — —

FCF TTM — —

Investment Takeaway

The business is heading the right way, but the current picture is still at partial confirmation — not yet a fully clean case. The positive points have clearly improved, showing the operating base is better than before. The brighter spot is operating efficiency, with net margin improving 41.0 pp. Even so, earnings quality still needs closer monitoring because net financial result remains elevated.

Improvement: operating efficiency is getting better, with trailing-12M net margin at 126.99% after expanding 41.0pp versus the same period last year.

Watchpoint: the earnings mix still needs monitoring, with net financial result still accounting for 123.5% of PBT and CFO / net income currently at -0.30x.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	3.9	3.3	65.4	167.4	144.7
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	3.9	3.3	65.4	167.4	144.7
Cost of Goods Sold	2.0	2.7	68.6	144.6	0.0
Gross Profit	1.9	0.7	-3.2	22.8	23.9
Financial Income	7.4	7.1	5.9	4.9	3.2
Financial Expenses	—	0.0	0.0	3.7	-0.2
Interest Expense	—	0.0	0.0	0.2	-0.1
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	-0.0
Selling Expenses	0.0	0.1	1.0	0.8	-2.1
General and Administrative Expenses	3.9	4.7	7.3	8.3	-8.3
Operating Profit	5.4	3.0	-5.6	14.9	16.5
Other Income	0.0	0.0	55.9	45.9	0.0
Other Expenses	0.0	0.3	0.2	0.6	0.0
Other Profit	-0.0	-0.3	55.7	45.3	0.8
Profit Before Tax	5.4	2.7	50.1	60.2	17.2
Current Income Tax Expense	1.1	0.5	9.6	11.4	-0.0
Deferred Income Tax Expense	—	0.0	0.5	-0.5	0.0
Net Income	4.3	2.2	40.0	49.4	17.2
Non-controlling Interest	—	0.0	0.0	0.0	-0.0
Profit Attributable to Parent	4.3	2.2	40.0	49.4	17.2
Earnings per Share	501.00	251.00	4,375.00	5,395.00	1,885.00
Diluted EPS	501.00	251.00	4,654.06	5,739.81	2,004.85

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	142.2	136.9	155.0	142.2	83.2
I. Cash and cash equivalents	2.3	2.7	17.1	53.8	7.9
1. Cash	2.3	2.7	17.1	51.8	0.0
2. Cash equivalents	—	0.0	0.0	2.0	0.0
II. Short-term financial investments	126.9	121.2	65.1	60.2	0.0
1. Available for sale securities	—	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	0.0	0.0	0.0	0.0
3. Held to maturity investments	126.9	121.2	65.1	60.2	0.0
III. Short-term receivables	2.4	2.2	61.4	13.2	7.3
1. Short-term trade accounts receivable	1.5	1.5	60.8	3.8	0.0
2. Short-term prepayments to suppliers	0.1	0.1	0.7	9.0	0.0
3. Short-term inter-company receivables	—	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	0.0	0.0	0.0	0.0
5. Short-term loan receivables	—	0.0	0.0	0.0	0.0
6. Other short-term receivables	2.3	2.0	1.2	1.4	0.0
7. Provision for short-term doubtful debts (*)	-1.5	-1.4	-1.4	-1.0	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	0.1	0.1	0.1	6.1	5.2
1. Inventories	0.1	0.1	0.1	6.1	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	10.5	10.8	11.3	9.0	5.6
1. Short-term prepayments	—	0.0	0.4	1.3	0.0
2. Value added tax to be reclaimed	10.5	10.7	10.9	7.6	0.0
3. Taxes and other receivables from state authorities	—	0.1	0.0	0.0	0.0
4. Government bonds	—	0.0	0.0	0.0	0.0
5. Other short-term assets	—	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	40.2	41.4	42.5	31.9	53.8
I. Long-term receivables	—	0.0	0.0	0.1	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	0.1
2. Long-term prepayments to suppliers	—	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	0.0	0.0	0.0	0.0
6. Other long-term receivables	—	0.0	0.0	0.1	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	11.1	11.2	11.6	29.7	52.5
1. Tangible fixed assets	3.8	3.9	4.3	22.4	45.2
- Cost	5.4	5.4	7.6	73.4	0.0
- Accumulated depreciation	-1.6	-1.5	-3.3	-51.0	0.0
2. Financial leased fixed assets	—	0.0	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0	0.0
3. Intangible fixed assets	7.3	7.3	7.3	7.3	7.3
- Cost	7.3	7.3	7.3	7.3	0.0
- Accumulated depreciation	-0.1	-0.1	-0.1	-0.0	0.0
III. Investment properties	28.9	29.8	0.0	0.0	0.0
- Cost	30.7	30.7	0.0	0.0	0.0
- Accumulated depreciation	-1.8	-0.9	0.0	0.0	0.0
IV. Long-term assets in progress	—	0.0	30.1	1.6	1.0
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	—	0.0	30.1	1.6	0.0
V. Long-term financial investments	—	0.0	0.0	0.0	0.0
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	—	0.0	0.0	0.0	0.0
3. Investments in other entities	—	0.0	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	—	0.0	0.0	0.0	0.0
5. Held to maturity investments	—	0.0	0.0	0.0	0.0
6. Other long-term investments	—	0.0	0.0	0.0	0.0
VI. Other long-term assets	0.2	0.4	0.8	0.5	0.0
1. Long-term prepayments	0.2	0.4	0.8	0.0	0.0
2. Deferred income tax assets	—	0.0	0.0	0.5	0.0
3. Long-term equipment, supplies, spare parts	—	0.0	0.0	0.0	0.0
4. Other long-term assets	—	0.0	0.0	0.0	0.3
5. Goodwill	—	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	182.4	178.3	197.5	174.1	137.1
A. LIABILITIES (300=210+330)	2.3	2.5	16.2	21.6	24.3
I. Short -term liabilities	1.5	1.7	16.2	21.6	24.3
1. Short-term trade accounts payable	0.3	0.5	5.0	7.4	9.0
2. Short-term advances from customers	—	0.0	0.0	0.0	0.2
3. Taxes and other payables to state authorities	0.4	0.2	9.6	9.2	0.0
4. Payable to employees	0.1	0.2	1.0	3.9	0.0
5. Short-term acrrued expenses	0.1	0.1	0.0	0.0	0.0
6. Short-term inter-company payables	—	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	0.2	0.2	0.0	0.0	0.0
9. Other short-term payables	0.1	0.1	0.1	0.1	0.0
10. Short-term borrowings and financial leases	—	0.0	0.0	0.0	4.8
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	0.3	0.4	0.5	1.0	0.0
13. Price stabilization fund	—	0.0	0.0	0.0	0.0
14. Government bonds	—	0.0	0.0	0.0	0.0
II. Long-term liabilities	0.8	0.8	0.0	0.0	0.0
1. Long-term trade payables	—	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	0.0	0.0	0.0	0.0
7. Other long-term liabilities	0.8	0.8	0.0	0.0	0.0
8. Long-term borrowings and financial leases	—	0.0	0.0	0.0	0.0
9. Convertible bonds	—	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	0.0	0.0	0.0	0.0
13. Fund for technology development	—	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	180.1	175.8	181.4	152.5	112.8
I. Owner's equity	180.1	175.8	181.4	152.5	0.0
1. Owner's capital	86.0	86.0	86.0	86.0	112.8
- Common stock with voting right	86,000,000,000.00	86,000,000,000.00	86,000,000,000.00	86,000,000,000.00	86,000,000,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	5.0	5.0	5.0	5.0	5.0
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	—	0.0	0.0	0.0	0.0
5. Treasury shares	—	0.00	0.00	0.00	0.00
6. Assets revaluation differences	—	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	0.0	0.0	0.0	0.0
8. Investment and development fund	11.5	11.5	11.5	9.0	0.0
9. Fund to support corporate restructuring	—	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	—	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	77.6	73.3	78.8	52.5	13.6
- Accumulated retained earning at the end of the previous period	73.3	71.1	38.8	3.1	9.7
- Undistributed earnings in this period	4.3	2.2	40.0	49.4	3.9
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	—	0.0	0.0	0.0	0.0
14. Financial reserves	—	0.0	0.0	0.0	0.0
II. Other resources and funds	—	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	182.4	178.3	197.5	174.1	137.1

Item	2025	2024	2023	2022	2021
Profit Before Tax	5.4	2.7	50.1	0.0	0.0
Depreciation of Fixed Assets and Investment Property	1.0	1.0	7.4	0.0	0.0
Provision (Increase)/Reversal	0.0	0.0	0.4	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	-0.1	-0.1	-0.1	0.0	0.0
Gain/Loss from Investment Activities	-7.3	-5.9	-60.6	0.0	0.0
Interest Expense	—	0.0	0.0	0.0	0.0
Gain/Loss on Disposal of Fixed Assets	—	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	0.0	0.0	0.0	0.0
Other Adjustments	—	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	-1.0	-2.3	-2.8	0.0	0.0
Increase/(Decrease) in Receivables	0.3	5.2	-5.1	0.0	0.0
Increase/(Decrease) in Inventory	—	0.1	5.9	0.0	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-0.2	-3.3	-6.6	0.0	0.0
Increase/(Decrease) in Prepaid Expenses	0.2	0.8	0.2	0.0	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	—	0.0	0.0	0.0	0.0
Corporate Income Tax Paid	-0.9	-9.9	-9.2	-2.1	0.0
Other Operating Receipts	—	0.0	0.0	3.3	0.0
Other Operating Payments	-0.1	-0.1	-1.4	-4.4	0.0
Net Cash Flow from Operating Activities	-1.8	-9.5	-19.0	17.7	33.8
Payments for Fixed Assets and Other Long-term Assets	—	-5.5	-18.9	-10.1	-6.9
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	59.7	11.4	54.1	0.0
Loans and Purchases of Debt Instruments	-254.2	-237.9	-123.6	0.0	-100.3
Receipts from Loan Repayments and Sale of Debt Instruments	248.5	181.8	118.7	0.0	64.1
Investments in Other Entities	—	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	7.1	4.7	5.1	3.7	0.0
Increase/(Decrease) in Term Deposits	—	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	0.0	0.0	0.0	0.0
Other Investing Receipts	—	0.0	0.0	0.0	0.0
Other Investing Payments	—	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	1.4	2.7	-7.4	44.6	-41.1
Proceeds from Equity Issuance and Capital Contributions	—	0.00	0.00	0.00	0.00
Share Repurchases	—	0.00	0.00	0.00	0.00
Proceeds from Borrowings	—	0.0	0.0	21.0	17.5
Repayment of Borrowings	—	0.0	0.0	-26.3	-12.5
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	—	-7.7	-10.3	-8.6	0.0
Other Financing Receipts	—	0.0	0.0	0.0	0.0
Other Financing Payments	—	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	—	-7.7	-10.3	-13.9	5.0
Net Cash Flow During the Period	-0.4	-14.5	-36.6	48.4	-7.4
Cash and Cash Equivalents at Beginning of Period	2.7	17.1	53.8	7.9	10.2
FX Difference from Revaluation	0.0	0.1	0.0	-2.5	-0.0
Cash and Cash Equivalents at End of Period	2.3	2.7	17.1	53.8	7.9

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	0.9	0.9	1.0	1.0	0.9	0.9	0.9	0.6	1.0	14.5	19.2	16.2
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	0.9	0.9	1.0	1.0	0.9	0.9	0.9	0.6	1.0	14.5	19.2	16.2
Cost of Goods Sold	0.5	0.5	0.6	0.5	0.4	0.5	0.5	0.4	1.3	15.6	17.3	18.3
Gross Profit	0.5	0.5	0.5	0.5	0.5	0.4	0.4	0.2	-0.3	-1.1	1.8	-2.1
Financial Income	2.0	1.9	1.9	1.9	1.7	1.6	1.5	1.7	2.3	1.4	1.6	1.5
Financial Expenses	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	—	—	—	—	0.0	0.1	0.0	0.0	0.0	0.3	0.2	0.3
General and Administrative Expenses	0.7	0.7	1.0	1.1	1.1	1.1	1.0	1.2	1.4	2.5	2.1	1.4
Operating Profit	1.8	1.7	1.3	1.2	1.1	0.9	0.9	0.7	0.6	-2.5	1.1	-2.4
Other Income	—	0.3	—	0.0	—	0.0	0.0	0.0	0.0	55.8	0.0	0.0
Other Expenses	—	0.1	—	0.0	0.0	0.0	0.0	0.0	0.3	0.0	0.1	0.1
Other Profit	—	0.2	—	-0.0	-0.0	0.0	-0.0	-0.0	-0.3	55.8	-0.1	-0.1
Profit Before Tax	1.8	1.9	1.3	1.2	1.1	0.9	0.9	0.6	0.3	53.3	1.0	-2.5
Current Income Tax Expense	0.4	0.4	0.3	0.2	0.2	0.2	0.2	0.1	0.1	9.5	0.0	0.0
Deferred Income Tax Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.5	0.0	0.0
Net Income	1.4	1.5	1.0	1.0	0.9	0.7	0.7	0.5	0.2	43.3	1.0	-2.5
Non-controlling Interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	1.4	1.5	1.0	1.0	0.9	0.7	0.7	0.5	0.2	43.3	1.0	-2.5
Earnings per Share	165.00	174.00	121.00	115.00	105.00	79.00	86.00	61.00	24.00	5,032.00	112.00	-293.00
Diluted EPS	165.00	174.10	120.88	114.74	104.76	78.58	86.36	61.19	24.42	5,032.25	118.94	-293.23

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	143.7	142.1	140.8	139.2	137.9	136.9	135.9	134.3	143.5	155.0	97.5	103.7
I. Cash and cash equivalents	34.2	2.3	2.3	2.3	2.1	2.7	6.1	3.8	8.2	17.1	16.4	22.8
1. Cash	2.1	2.3	2.3	2.3	2.1	2.7	6.1	3.8	8.2	17.1	16.4	22.8
2. Cash equivalents	32.1	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Short-term financial investments	96.6	126.9	125.4	123.8	122.8	121.2	116.8	116.7	120.6	65.1	59.0	58.5
1. Available for sale securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Held to maturity investments	96.6	126.9	125.4	123.8	122.8	121.2	116.8	116.7	120.6	65.1	59.0	58.5
III. Short-term receivables	2.4	2.3	2.5	2.4	2.2	2.2	2.0	2.7	3.5	61.4	7.8	10.7
1. Short-term trade accounts receivable	1.5	1.5	1.5	1.5	1.5	1.5	1.5	2.2	2.8	60.8	3.7	3.6
2. Short-term prepayments to suppliers	0.1	0.0	0.1	0.2	0.1	0.1	0.1	0.1	0.2	0.7	2.4	6.2
3. Short-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Short-term loan receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other short-term receivables	2.3	2.3	2.2	2.2	2.0	2.0	1.7	1.8	2.0	1.2	2.7	1.9
7. Provision for short-term doubtful debts (*)	-1.5	-1.5	-1.4	-1.4	-1.4	-1.4	-1.4	-1.4	-1.4	-1.4	-1.0	-1.0
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	3.5	2.1
1. Inventories	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	3.5	2.1
2. Provision for decline in value of inventories	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
V. Other short-term assets	10.4	10.5	10.5	10.6	10.7	10.8	10.9	11.0	11.0	11.3	10.8	9.6
1. Short-term prepayments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.4	0.4	0.3
2. Value added tax to be reclaimed	10.4	10.5	10.5	10.6	10.7	10.7	10.8	10.9	10.9	10.9	10.4	9.4
3. Taxes and other receivables from state authorities	—	—	—	—	0.0	0.1	0.1	0.1	0.1	0.0	0.0	0.0
4. Government bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Other short-term assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	39.9	40.2	40.5	40.8	41.1	41.4	41.7	41.9	42.1	42.5	50.6	41.7
I. Long-term receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Long-term trade receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	11.1	11.1	11.1	11.1	11.2	11.2	7.3	7.3	7.3	11.6	24.2	26.0
1. Tangible fixed assets	3.8	3.8	3.9	3.9	3.9	3.9	0.0	0.0	0.0	4.3	16.9	18.7
- Cost	5.4	—	—	—	—	5.4	1.4	1.4	1.4	7.6	73.4	73.4
- Accumulated depreciation	-1.6	—	—	—	—	-1.5	-1.4	-1.4	-1.4	-3.3	-56.6	-54.7
2. Financial leased fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	7.3	7.3	7.3	7.3	7.3	7.3	7.3	7.3	7.3	7.3	7.3	7.3
- Cost	7.3	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-0.1	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	28.7	28.9	29.1	29.4	29.6	29.8	34.0	34.2	34.3	0.0	0.0	0.0
- Cost	30.7	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-2.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	30.1	25.8	15.2
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	30.1	25.8	15.2
V. Long-term financial investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Investments in other entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Held to maturity investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VI. Other long-term assets	0.1	0.2	0.2	0.3	0.3	0.4	0.4	0.5	0.5	0.8	0.6	0.5
1. Long-term prepayments	0.1	0.2	0.2	0.3	0.3	0.4	0.4	0.5	0.5	0.8	0.1	0.0
2. Deferred income tax assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.5	0.5
3. Long-term equipment, supplies, spare parts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other long-term assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Goodwill	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	183.7	182.3	181.3	180.0	178.9	178.3	177.5	176.3	185.6	197.5	148.1	145.4
A. LIABILITIES (300=210+330)	2.2	2.1	2.6	2.4	2.3	2.5	2.4	1.9	4.0	16.2	10.0	8.4
I. Short -term liabilities	1.3	1.3	1.8	1.6	1.5	1.7	1.8	1.5	4.0	16.2	10.0	8.4
1. Short-term trade accounts payable	0.3	0.0	0.3	0.3	0.5	0.5	0.5	0.7	3.2	5.0	6.3	5.2
2. Short-term advances from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Taxes and other payables to state authorities	0.4	0.4	0.5	0.5	0.2	0.2	0.4	0.2	0.1	9.6	0.0	0.1
4. Payable to employees	0.0	0.2	0.2	0.2	0.1	0.2	0.2	0.1	0.1	1.0	0.5	0.1
5. Short-term acrrued expenses	0.1	0.1	0.1	0.1	0.0	0.1	0.0	0.0	0.0	0.0	0.0	0.0
6. Short-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	0.1	0.2	0.3	0.0	0.1	0.2	0.3	0.0	0.0	0.0	0.0	0.0
9. Other short-term payables	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.2	0.1	0.0	0.0
10. Short-term borrowings and financial leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
11. Provision for short-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	2.0	1.6
12.. Bonus and welfare fund	0.3	0.3	0.3	0.4	0.4	0.4	0.4	0.5	0.5	0.5	1.2	1.4
13. Price stabilization fund	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Government bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Long-term liabilities	0.8	0.8	0.8	0.8	0.8	0.8	0.6	0.4	0.0	0.0	0.0	0.0
1. Long-term trade payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Other long-term liabilities	0.8	0.8	0.8	0.8	0.8	0.8	0.6	0.4	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Convertible bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Fund for technology development	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	181.5	180.2	178.7	177.7	176.7	175.8	175.1	174.3	181.6	181.4	138.1	137.1
I. Owner's equity	181.5	180.2	178.7	177.7	176.7	175.8	175.1	174.3	181.6	181.4	138.1	137.1
1. Owner's capital	86.0	86.0	86.0	86.0	86.0	86.0	86.0	86.0	86.0	86.0	86.0	86.0
- Common stock with voting right	86,000,000,000.00	86,000,000,000.00	86,000,000,000.00	86,000,000,000.00	86,000,000,000.00	86,000,000,000.00	86,000,000,000.00	86,000,000,000.00	86,000,000,000.00	86,000,000,000.00	86,000,000,000.00	86,000,000,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	5.0	5.0	5.0	5.0	5.0	5.0	5.0	5.0	5.0	5.0	5.0	5.0
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Treasury shares	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
6. Assets revaluation differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	—	11.5	11.5	11.5	11.5	11.5	11.5	11.5	11.5	11.5	11.5	11.5
9. Fund to support corporate restructuring	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	90.5	77.7	76.2	75.2	74.2	73.3	72.6	71.8	79.1	78.8	35.6	34.5
- Accumulated retained earning at the end of the previous period	89.1	73.3	73.3	73.3	73.3	71.1	71.1	71.1	78.8	38.8	34.5	37.1
- Undistributed earnings in this period	1.4	4.4	2.9	1.9	0.9	2.2	1.5	0.7	0.2	40.0	1.0	-2.5
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Financial reserves	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Other resources and funds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	183.7	182.3	181.3	180.0	178.9	178.3	177.5	176.3	185.6	197.5	148.1	145.4

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Profit Before Tax	1.8	1.8	1.3	1.2	1.1	0.9	0.9	0.6	0.3	50.1	0.0	0.0
Depreciation of Fixed Assets and Investment Property	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.3	7.4	0.0	0.0
Provision (Increase)/Reversal	—	0.0	—	—	—	0.0	0.0	0.0	0.0	0.4	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	—	-0.0	0.0	-0.1	—	-0.0	0.0	-0.1	0.0	-0.1	0.0	0.0
Gain/Loss from Investment Activities	-2.0	-1.9	-1.9	-1.8	-1.7	-1.6	-1.5	-1.5	-1.3	-60.6	0.0	0.0
Interest Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Gain/Loss on Disposal of Fixed Assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Adjustments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	0.1	0.1	-0.3	-0.4	-0.3	-0.5	-0.3	-0.7	-0.7	-2.8	0.0	0.0
Increase/(Decrease) in Receivables	0.0	0.1	0.1	0.0	0.1	0.3	0.5	1.0	3.2	-5.1	0.0	0.0
Increase/(Decrease) in Inventory	—	—	—	—	—	0.0	0.0	0.0	0.1	5.9	0.0	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-0.1	-0.1	0.3	-0.1	-0.3	0.2	0.6	-0.1	-3.8	-6.6	0.0	0.0
Increase/(Decrease) in Prepaid Expenses	0.0	0.0	0.0	0.1	0.1	0.0	0.1	0.0	0.6	0.2	0.0	0.0
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Corporate Income Tax Paid	-0.4	-0.5	-0.2	0.0	-0.2	-0.4	0.0	0.0	-9.5	0.0	0.0	-0.0
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	-0.9	0.5	0.1
Other Operating Payments	—	0.0	-0.1	-0.0	—	-0.1	0.1	-0.0	-0.0	1.1	-0.8	-0.6
Net Cash Flow from Operating Activities	-0.4	-0.4	-0.2	-0.5	-0.6	-0.4	0.9	0.2	-10.2	-7.9	1.7	-2.2
Payments for Fixed Assets and Other Long-term Assets	—	—	—	—	—	-0.0	0.0	-2.5	-3.0	1.0	-7.8	-6.6
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	—	—	—	—	0.0	0.0	0.0	59.7	11.4	58.5	-58.5
Loans and Purchases of Debt Instruments	-33.0	-67.1	-63.3	-62.1	-61.7	-61.1	-60.1	-56.7	-60.0	-123.6	0.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	63.3	65.6	61.7	61.1	60.1	56.7	60.0	60.6	4.5	118.7	0.0	0.0
Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	1.9	1.9	1.8	1.7	1.6	1.3	1.5	1.7	0.2	2.4	0.2	2.4
Increase/(Decrease) in Term Deposits	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	32.2	0.4	0.2	0.7	0.0	-3.1	1.4	3.1	1.3	8.7	-8.1	-0.5
Proceeds from Equity Issuance and Capital Contributions	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Share Repurchases	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Proceeds from Borrowings	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Repayment of Borrowings	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	—	—	—	—	—	0.0	0.0	-7.7	0.0	0.0	0.0	-10.3
Other Financing Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Financing Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	—	—	—	—	—	0.0	0.0	-7.7	0.0	0.0	0.0	-10.3
Net Cash Flow During the Period	31.9	-0.0	-0.0	0.2	-0.6	-3.5	2.3	-4.5	-8.9	0.8	-6.4	-13.0
Cash and Cash Equivalents at Beginning of Period	2.3	2.3	2.3	2.1	2.7	17.1	17.1	17.1	17.1	53.8	53.8	53.8
FX Difference from Revaluation	—	0.0	0.0	0.0	—	0.0	0.0	0.1	0.0	-0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	34.2	2.3	2.3	2.3	2.1	2.7	6.1	3.8	8.2	17.1	16.4	22.8

Explore Other Stocks In The Same Sector

HAH, SWC, VOS, VST, MHC, DDM, PDV, PCT, TRS, SKG, VNA, ISG, VSA, VNT, VFC, HTV, SGS, WTC, PTS, SHC, PRC, SSG, VMT, VPA, VSG, NOS

Need support? If you need support with content lookup or want to provide feedback about content on the website, please contact us below.

TJC

What Is Changing

Drivers of TJC's profit

Financial Highlights

Is the profit sustainable?

What is driving the margin? ▲▲

Is capital being used efficiently?

Is capital being deployed efficiently? ●

Balance Sheet ●

Working Capital Efficiency ▼▼

Is financial risk significant?

Leverage & Liquidity ▲

Cash Flow ●

Investment Takeaway

Statement Data

What is driving the margin?

Is capital being deployed efficiently?

Balance Sheet

Working Capital Efficiency

Leverage & Liquidity

Cash Flow