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GGG: Explanation for loss in operating result of QIV.2013
On 11/03/2014, GiaiPhong Motor JSC explained for the loss in
operating result of QIV.2013 as follows:
1. In QIV.2014, the revenue increased in comparison with
that of QIV.2013. However, the revenue is still lower than Cost of Goods Sold.
The reason is the Company has reduced the selling price to handle inventory
vehicles, transferring and repairing expense which are incurred prior to
delivery to customers.
2. The financial expense increased significantly (from more
than VND 6 billion in QIV.2013 to VND 44.5 billion) because in addition to
paying interest for loans, in QIV.2014,
the Company transferred the equity at NO2-T2 building and accounted the loss
because of investment expense from 2008 to QIV.2013 which is VND 30 billion.
3. In QIV.2013, the Company accounted doubtful debts, which
have the payment period more than 3 years, to expense (the item “other
expense”) with the increasing amount is VND 5.7 billion. HNX
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