IJC The interim financial statements (for the first 6 months of the fiscal year ending 31 December 2025)

Ký bởi: CÔNG TY CỔ PHẦN PHÁT TRIỂN HẠ TẦNG KỸ THUẬT

Email: info@becamexijc.com

Ngày ký: 29/08/2025 09:16:23 +07:00

Xác thực bởi: Viettel-CA SHA2

BECAMEX INFRASTRUCTURE DEVELOPMENT JOINT STOCK COMPANY

----------

THE SOCIALIST REPUBLIC OF VIETNAM

Independence - Freedom - Happiness

---------------

Ho Chi Minh city, 29, August 2025

To: - The State Securities Commission;

- Ho Chi Minh City Stock Exchange.

1. Name of organization: Becamex Infrastructure Development Joint Stock Company

   • Stock code: IJC

   • Address: No. 230 Binh Duong Avenue, Phu Loi Ward, Ho Chi Minh City

   • Tel. 0274 3848789 E-mail: info@becamexijc.com

2. Spokesman: Trinh Thanh Hung. Position: Chief Executive Officer

3. Information disclosure type:  Periodic  Extraordinary  On demand

4. Content of information disclosure:

   Becamex Infrastructure Development Joint Stock Company hereby discloses The interim financial statements (for the first 6 months of the fiscal year ending 31 December 2025)

5. This information was published on the Company's website on 29, August 2025, at the link https://www.becamexijc.com/Quanhecodong.

   We hereby certify that the information disclosed is true and correct and we bear the full responsibility to the law for the disclosed information.

   To:

   • As above;

   • Archives: Office of BOD

     Organization representative

     CÔNG TY CỔ PHẦN

     Digitally signed by CÔNG TY CỔ PHẦN PHÁT TRIỂN HẠ TẦNG KỸ THUẬT

     Legal Representative

     
     
     
     
     
     

     THUẬT,

     DN: C=VN, S=HỒ CHÍ MINH, L=PHÚ LỢI, CN=CÔNG TY CỔ PHẦN PHÁT TRIỂN HẠ TẦNG KỸ

     PHÁT TRIỂNOID.0.9.2342.19200300.100.1.1=M

     ST:3700805566

     HẠ TẦNG KỸ THUẬT

     Reason: I am approving this document

     Location: your signing location here Date: 2025.08.29 15:00:32+07'00'

     Foxit Reader Version: 10.1.1

     TRINH THANH HUNG

     Chief Executive Officer

     Attached documents:

     - The interim financial statements (for the first 6 months of the fiscal year ending 31 December 2025)

     
     
     

     TTNB-25080062

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     

     INTERIM FINANCIAL STATEMENTS

     FOR THE FIRST 6 MONTHS

     
     
     

     OF THE FISCAL YEAR ENDING 31 DECEMBER 2025

     BECAMEX INFRASTRUCTURE

     
     
     

     DEVELOPMENT

     JOINT STOCK COMPANY

     BECAMEx zNrRASTRUCTURE DEVELOPf4ENT 3OINT STOCK COMPANY

     
     
     
     
     
     

     CONTENTS

     
     
     
     
     
     

     1. Statement of the Board of Directors

        
        
        

     2. Report On The Review Of Interim Financial Information

        
        
        

     3. Interim Balance Sbeet as of 30 June 2025

        
        
        

     4. Interim Income Statement

        for the first 6 months of the fiscal year ending 31 December 2025

        
        
        

     5. Interim Cash Flow Statement

        for the first 6 months of the fiscal year ending 31 December 2025

     6. Notes to the Interim Financial Statements

        
        
        

        for the first 6 months of the fiscal year ending 31 December 2025

     7. Appendix

     Page

     2 - 4

     
     
     

     6-9

     10

     11 - 12

     13 - 45

     46 - 48

     
     
     

     BECAMEX INFRASTRUCTURE DEVELOPf'4ENT 3OINT STOCK COMPANY

     
     
     
     
     
     

     STATEMENT OF THE BOARD OF DIRECTORS

     
     
     
     
     
     

     The Board of Directors of Becamex Infrastructure development Joint Stock Company (hereinafter referred to as "the Company") presents this statement together with the Interim Financial Statements for the first 6 months of the fiscal year ending 31 December 2025.

     Business highlights

     
     
     
     
     
     
     
     
     

     Becamex Infrastructure Development Joint Stock Company was transformed from Highway l3 Project directly under Investment and Industrial Development Corporation (Investment and Industrial Development Joint Stock Corporation now) according to the Decision No. 1131/QD-UBND dated 01 March 2007 of the People's Committee of Binh Duong Province. The Company has been operating in line with the Business Registration Certificate No. 3700805566, initially registered on 02 July 2007 and 15'hamended on 13 February 2025, granted by Binh Duong Province Department of Planning and Investment (now is Ho Chi Minh City Department of Finance).

     
     
     

     On 19 April 2010, the Company's stocks were officially listed on the Ho Chi Minh City Stock Exchange under the Decision No. 64/2010/QD-SGDHCM dated 05 April 2010 of the Ho Chi Minh City Stock Exchange with the stock code of UC.

     Head office

     
     
     

     Address : No. 230 Dinh Duong Avenue, Phu Loi Ward, Ho Chi Minh City, Vietnam

     - Tel. : (84-274) 3848 789

     
     
     

     Fax : (84-274) 3848 678

     
     
     

     The principal business activities of the Company as in the Business Registration Certificate are:

     
     
     

     • To invest, construct and operate technical infrastructure of industrial parks, residential areas and urban areas. To trade in real estate and lease houses, apartments, factories and offices. To provide workers' housing services. To trade, transfer, lease, lease then purchase real estate (according to the Provincial Planning);

       
       
       

     • To provide real estate brokerage, valuation, trading floor, consultancy, auction, advertising and management services;

       
       
       
       
       
       
       
       
       

     • To give consultancy on civil, public, industrial, traffic, technical infrastructure works. To give consultancy and make detailed plans, general estimation, to make, appraise investment projects for residential areas, urban areas, industrial parks, civil, industrial, traffic works; to supervise the construction of traffic works; to supervise the construction and completion of civil & industrial works; to supervise the construction and completion of bridges and roads; to design, verify the architecture of civil and industrial works; to design and verify the construction of traffic works (bridges, roads); to design and verify the construction of urban technical infrastructure works; to give consultancy on construction investment management of civil, industrial, traffic, irrigation and technical infrastructure projects; to organize invitation for bid, bidding, and selection of contractors in construction and procurement of machinery and equipment;

     • To produce construction materials;

     • To mine and process minerals;

       
       
       

     • To trade in construction materials;

     • To trade in precast concrete components. To trade in suppl res, materials and goods for consumer production;

       
       
       

     • To produce supplies, materials and goods for consumer production;

     • To construct civil and industrial electricity works;

     • To trade in construction equipment and mechanical machinery;

       
       
       

     • To make financial investments in other domestic and foreign enterprises;

     • To inspect construction quality; to test construction materials;

     • To take care of trees, flower gardens and ornamental plants;

       
       
       

     • To install water supply, drainage, heating and air conditioning systems;

     • To grow vegetables, beans of all kinds and flowers;

       
       
       

       BECAMEX INFRASTRUCTURE DEVELOPNENT 3OINT STOCK COPIPANY

       
       
       

       STATEIVIENT OF THE BOARD OF DIRECTORS (cont.)

       
       
       

       To maintain, repair and operate toll stations. To operate construction investment projects under the BOT, BT method;

     • To produce concrete and products from concrete, cement and plaster;

       
       
       

     • To lease unmanned machinery, equipment and other tangible items; To construct residential houses;

     
     
     

     To construct non-residential houses; To construct railways;

     To construct roads;

     To construct electrical works;

     
     
     

     To construct water supply and drainage works;

     To construct telecommunications and information works; To construct other public works;

     
     
     

     To construct other civil engineering works.

     Board of Directors and Executive Board

     
     
     

     The Board of Directors, the Supervisory Board, the Internal Audit Board and the Board of Management of the Company during the period and as of the date of this statement include:

     
     
     

     The Board of Directors

     Full name

     Mr. Do Quang Ngon

     
     
     

     Mr. Quang Van Viet Cuong Mr. Tran Thien The

     Ms. Vo Thi Huyen Trang Ms. Le Thi Xuan Dieu

     The Supervisory Board
     
     
     
     
     

     Full name

     
     
     

     Mr. Nguyen Hat Hoang Ms. Le Thi Thuy Duong Ms. Mai Thi Huynh Mai

     The Internal Audit Baard
     
     

     Full name

     
     
     

     Ms. Tran Nguyen Thao Ms. Phan Hong Phuong Ms. Bui Phuong Hong

     The Board of Management
     
     

     Full name

     
     
     

     Mr. Trinh Thanh Hung Ms. Vo Thi Huyen Trang Mr. Tran Ngoc Hien

     
     
     

     Mr. Vu Phi Hung Ms. Bui Thi Thuy

     Position Chairman

     Vice Chairman Member Member

     Independent Member

     Position

     Head of the Board Member

     Member

     Position

     Head of the Board Member

     Member

     Position

     Chief Executive Officer

     Deputy Chief Executive Officer Deputy Chief Executive Officer Deputy Chief Executive Officer Chief Accountant cum

     Chief Financial Officer

     Appointing/reappointing date Appointed on 15 April 2022

     Reappointed on 15 April 2022

     
     
     

     Reappointed on 15 April 2022

     Reappointed on 15 April 2022

     Appointed on 07 April 2023

     ointin rea ointin date Appointed on 15 April 2022

     Reappointed on 15 April 2022

     Appointed on 19 April 2024

     Appointing date

     Appointed on 30 March 2021

     Appointed on 16 May 2022

     Appointed on 16 May 2022

     Appointing/reappointing date Appointed on 15 April 2022

     Reappointed on 27 July 2022

     Appointed on 30 March 202 l

     Appointed on 10 September 2024

     Appointed on 30 March 2021

     Appointed on 15 April 2022

     
     
     

     Legal Representative

     
     
     

     The Company's legal representative during the period and as of the date of this statement is Mr. Trinh Thanh Hung - Chief Executive Officer (appointed on 15 April 2022).

     
     
     
     
     
     

     BECAMEX INFRASTRUCTURE DEVELOPMENT JOINT STOCK COMPANY

     
     
     

     STATEMENT OF THE BOARD OF DIRECTORS (cont.)

     
     
     

     Auditors

     A&C Auditing and Consulting Co., Ltd. has been appointed to perform the review on the Company's Interim Financial Statements for the first 6 months of the fiscal year ending 31 December 2025.

     Responsibilities of the Board of Management
     
     
     
     
     
     
     
     

     The Company's Board of Management is responsible for the preparation of the Interim Financial Statements to give a true and fair view of the financial position, the financial performance and the cash flows of the Company during the period. In order to prepare these Interim Financial Statements, the Board of hlanagement must:

     • select appropriate accounting policies and apply them consistently;

     • make judgments and estiinates reasonably and prudently;

       
       
       

     • state clearly whether the accounting standards applied to the Company are followed or not, and all the material differences from these standards are disclosed and explained in the Interim Financial Statements;

       
       
       

     • prepare the Interim Financial Statements of the Company on the going-concern basis, except for the cases that the going-concern assumption is considered inappropriate;

       
       
       

     • design and implement effectively the internal control system to minimize the risks of material misstatements due to frauds or errors in the preparation and presentation of the Interim Financial Statements.

     
     
     
     
     
     
     
     
     

     The Board of Management hereby ensures that all the proper accounting books of the Company have been fully recorded and can fairly reflect the financial position of the Company at any time, and that all the accounting books have been prepared in compliance with the applicable Accounting System. The Board of Management is aJso responsible for managing the Company's assets and consequently has taken appropriate measures to prevent and detect frauds and other irregularities.

     
     
     

     The Boatd of Management hereby commits to the compliance with the aforementioned requirements in preparation of the Interim Financial Statements.

     
     
     

     Approval of the Financial Statements

     NH

     
     
     
     
     
     
     
     
     
     
     
     

     The Board of Directors hereby approves the accompanying Interim Financial Statements which give a true and fair view of the financial position as of 30 June 2025 of the Company, its financial performance and its cash fiows for the first 6 months of the fiscal year ending 31 December 2025, in conformity with the Vietnamese Accounting Standards, the Vietnamese Enterprise Accounting System and relevant statutory requirements on the preparation and presentation oY the Interim Financial Statements.

     
     
     
     
     
     

     Chairman

     Date: 26 August 2025

     
     
     
     
     
     
     
     
     

     A&C AUDITING AND CONSULTING C0., LTD.

     Office . OF Truong hon SI.. id 2, far 8irfi Oist, Ha C#t Alibi diy Y•friem Td. @(028s M72972 kttyt la-c.com m ennch In Ha kâ : 4£ Giarg Yo St.. Borg Da Dist, Ha Noi gilt. vielnam Web:+84{024) 37367W9 ktN.fi@a c ‹ou.m

     bakertilly

     A6C

     
     
     

     graph in CanTto :l£ IN YaNguyei Giap 8t.,Lai gang bill., Can Ttio City,'/ielnam Tel: +84 (02g2) 1764995 kltv.ctga-c.com.vn https://www.a-c.com.vn

     No. I . i385/25/TC-AC

     REPORT ON THE REVIEW OF INTERIM FINANCIAL INFORMATION
     
     
     
     
     

     To: THE SHAREHOLDERS, THE BOARD OF DIRECTORS AND THE BOARD OF MANAGEMENT BECAMEX INFRASTRUCTURE DEVELOPMENT JOINT STOCK COMPANY

     
     
     
     
     
     

     We have reviewed the accompanying Interim Financial Statements of Becamex Infrastructure Development Joint Stock Company (hereinafier referred to as ' the Company"), which were prepared on 26 August 2025 (from page 06 to page 48), including the Interim Balance Sheet as of 30 June 2025. the Interim Income Statement, the Interim Cash Flow Statement for the first 6 months of the fiscal year ending 31 December 2025 and the Notes to the Interim Financial Statements.

     
     
     

     Responsibility of the Board of Management

     
     
     

     The Company's Board of Management is responsible for the preparation, true at.5 fair presentation of these Interim Financial Statements in accordance with the Vietnamese Accoui:ting Standards, the Vietnamese Enterprise Accounting System and relevant statutory requirements on the preparation and presentation of the Interim Financial Statements; and responsible for such internal control as the Board of Management determines necessary to enable the preparation and presentation of the Interim Financial Statements to be free from material misstatement, whether due to fraud or error.

     
     
     
     Responsibility of Auditors
     
     
     
     
     

     Our responsibility is to express conclusion on these Interim Financial Statements based on our review. We have conducted the review in accordance with the Vietnamese 5tandard on Review Engagements No. 2410

     - Review on interim financial information performed by independent auditor of the entity.

     
     
     
     
     
     

     A review of interim financial information consists or making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Vietnamese Standards on Auditing and consequently does not enable its to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

     
     
     

     Conclusion of Auditors

     For and o

     A&C

     f

     $

     sulting Co., Ltd.

     
     
     
     
     
     
     
     
     
     
     
     

     Based on our review, nothing has come to our attention that causes us to believe that the accompanying Interim Financial Statements have not given a true and fair view, in all material respects, of the financial position as of 30 June 2025 of Becamex Infrastructure Development Joint Stock Company, its financial performance and its cash flows for the first 6 months of the fiscal year ending 31 December 2025, in conformity with the Vietnamese Accounting Standards, the Vietnamese Enterprise Accounting System and relevant statutory requirements on the preparation and presentation of the Interim Financial Statements.

     
     
     
     
     
     

     Partner

     Audil Practice Registration Certificate .to. 0089-2023-008- I

     Authorized Signatory

     
     
     

     Ho Chi Minh C ity, 26 August 2025

     
     
     

     5

     ABC Auditing and Coasoltlng Co., Ltd. trading as BzRr Tmy A&C is a member of ihe global network of Beer Tilly Intemeriorial Ltd., the members of w'birh are separate had independent legal entities

     BECAMEX INFRASTRUCTURE DEVELOP?4ENT 3OINT STOCK COt4PANY

     
     
     

     Address: No. 230 Binh Duong Avenue, Phu Loi Ward, Ho Chi Minh City INTERIM FINANCIAL STATEMENTS

     
     
     

     For the first 6 months of the fiscal year ending 31 December 2025

     INTERIM BALANCE SHEET

     
     
     

     (Full form)

     As of 30 Ju ne 1025

     Unit: '/NO

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     

     ITEMS

     Code Note

     Ending balance

     Beginning balance

     A -	CURRE!NT ASSETS	t00		4.450.165.607.781	4.410.814.43J.675
     	Cssh end cssh equivalents	110	V.1	59.537.368.332	22.924.106.582
     	Cash	111		59.537.368.332	12.924.106.582
     2.	Cash equivalents	112			10.000.000.000
     II.	Short-term financial investments	120
     I .	Trading securities	1 21
     2.	Provisions for devaluation of trading securities	122
     3.	Hel d-to-maturity investments	1 23
     III.	Short-term receivables	130		610.448.070.258	631.607.726.545
     1.	Short-term trade receivables	131	V.2a	571.217.898.926	564.252.899. 79 I
     2.	Short-term prepayments to suppliers	132	V.3a	2.486.458.695	3.810.321 .030
     3.	Short-term inter-company receivables	133
     4.	Receivables according to the progress of
     	constriction contract	1 34
     5.	Receivables for short-term loans	135
     6.	Other short-term recei vables	136	V.4a	39.332.436.533	66.133.229.620
     7.	A1Iowance for short-term doubtful debts	1 37	V.5	(2.588.723.896)	(2.588.723.8 96)
     8.	Deficit assets for treatment	1 39
     IV.	Ins'ento ries	140	V.6	3.717.470.989.404	3.677.609.626.518

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     

     1.	Inventories	141		3.717.470.989.404
     2. Allowance for devaluation of inventories 149
     V.	Other current assets	150		62.709.179.787
     t.	Short-ten prepaid expenses	15 I	V.7a	241 .756.969
     2.	Deductible VAT	152		60.053. 422.914
     3.	Taxes and ocher receivables fYom the State	153	V.I 6	2.413.999.904
     4.	Trading Government bonds	154
     'i.	Other current assets	155

     3.677.609.626.518

     
     
     

     78.672.975.030

     
     
     

     1.516.41 5.90S

     77.156.559.1 25

     
     
     
     
     
     
     
     
     
     
     
     

     6

     
     
     

     BECAMEX INFRASTRUCTURE DEVELOPMENT 3OINT STOCK COMPANY

     
     
     

     Address: No. 230 Binh Duong Avenue, Phu Loi Ward, Ho Chi Minh City lNTERI$4 FINANCIAL STATEMENTS

     For the first 6 months of the fiscal year ending 31 December 2025

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     

     Interim Balance Sh eel (cont.)

     	ITEMS	Code	Note	knding balance		Beginning balance
     B-	NOT-CURRENT ASSETS	200		3.230.352.645.678		3.238.011.089.503
     1.	Long-term receivables	210		743.030.155.581		774.219.111.768
     	Long-term trade rocei vables	211	V.2b	268.691.793.620		299.880.749.807
     2.	Long-term prepayments to suppliers	21 2
     3.	Working capital in affi liates	213
     4.	Don8-term inter-company receivables	2 T4
     	Receivables for lon8-term loans	215
     6.	Other long-term receivables	216	V.4b	474.338.36 I .961		474.338.361.961
     7.	Allowance for long-term doubtful debts	219
     IF.	Fizea assets	220		516.028.219.453		529.518.433. 62
     1.	Tangible fixed assets	221	V.8	504.403.98 4.021		517.553.1 81.208
     	Historical cost			1.149.446.697.127		1.137.814,216. 359
     	Accumulafed de precialion			bd73. 042,713. 106)		(620. *J7.035. 151)
     2.	Financial leased assets	224
     	Hi'storical cosi	225
     	Accumulated depreciation	226
     3.	Intangible fixed assets	227	V.9	l I .624.235.432		11.965. 251 .954
     	Initial cost	228		2J.261.324.662		24.376.324,662
     	Accumulated amorti.nation	229		(13,637.0B9. 230)		(12.411.072. 708a
     III.	Investment property	230	V.J 0	509.424.878.100		514.518.114.492
     	Historical costs	231		540.299.639.700		540.299.639.700
     	Accumulated depreciation	232		(30.874.761.600)		(25.781.525.208)
     lV.	Long-term assets in process	240		670.936.873.053		642.559. 160.164
     	Long-term work in process	241	V.11	669.983.103.053		642.375.l60.164
     2.	Construction- in-progress	242	V.1 2	953.770.000		I 84.000.000
     V.	Long-term financial iiivestments	250	V.12	767.542.481.005		747.542.481.005
     1.	Investments in subsidiaries	251		36.377.481.005		36.377.481 .00'i
     2.	In x'estments in joint ventures and associates	252		704.165.000.000		684.165.000.000
     3.	Investments in other entities	253		27.000.000.000		27.000.000.000
     4.	Provisions for devaluation of long-term financial
     	investments	254
     5.	Held-to-maturity investments	255
     VI.	Other non-current assets	260		23.390.038.486		29.653.786.912
     1 .	Long-term prepaid expenses	261	V.7b	23.390.038.486		29.653.788.912
     2.	Deferred income tax assets	262
     3	Long-term components and spare parts	263
     4.	Other non-current assets	268
     	TOTAL ASSETS	270		7.680.518.253.459		7.648.825.524.1 78

     
     
     
     
     
     

     BECAMEX INFRASTRUCTURE DEVELOPMENT POINT STOCK COMPANY

     
     
     

     Address: No. 230 Binh Duong Avenue, Phu Loi h'ard, Ho Chi Minh City

     INTERIM1 FINANCIAL STATEMENTS

     For the first 6 months oY the fiscal year ending 31 December 2025

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     

     Interim Balance Sheet (cont )

     ITEMS Code			Note	Ending balance	Begin nin g b«lance
     C -	UA BILITIES	300		2.570.645.298.776	2.599.9l'7.480.593
     1.	Current liabilities	3jp		1.983.905.040.330	2.010.145.705.001
     1 .	Short-term trade payables	311	V.14a	703.634.165.298	682.027 338.731
     2.	Short-term advances from customers	312	V.15	11 .040.923.835	6.071.665.473
     3.	Taxes and other obligations to the State Budget	313	V.16	26.109.559.038	29.794.689.396
     4.	Payables to employees	314	V.17	2.430.582.950	2.390.14 9.780
     	Short-term accrued expenses	315	V.18	249.213.141 .056	241 ,537.823.457
     6.	Short-temi inter-company payables	316
     7.	Payables according to the progress of construction
     	contracts	317
     8.	Short-term unearned revenue	318
     9.	Other short-term payables	319	V.19a	345.122.112.856	348.449.280.343
     10.	Short-term borrowings and financial leases	320	V.20a	595.71 2.374.966	651.366.826.138
     11.	Provisions for show-term payables	321
     12.	Bonus and wel fare funds	322	V.2 I	50.642.1 80.331	48.507.931.6 83
     13,	Price stabilization hind	323
     14.	Trading Government bonds	324
     T1.	]"/on-current liabilities	330		586.740.258.446	589.771.775.592
     1.	Long-term trade payables	331	V.14b	9.419.371.200	18.83 B.742.400
     2.	Long-term advances from customers	332
     3.	Long-term accrued expenses	333
     4.	Inter-company payables for working capital	"3 4
     5.	Long-term inter-company payables	335
     6.	Long-term unearned revenue	336	V.22	45.630.975.246	11.904.0 73.192
     7.	Other long-term payables	337	V. 19b	12.248.000.000	1 2.248.000.000
     8.	Long-term borrowings and financial leases	338	V.20b	519.441.912.000	546.7s0.g6o.ooo
     9.	Convertible bonds	339
     10.	Preferred shares	340
     11.	Deferred income tax liability	341
     1 2.	Provisions for long-term payables	342
     13.	Science and technology development fund	343

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     

     BECAMEX INFRASTRUCTURE DEVELOPf4ENT 3OINT STOCK COMPANY

     
     
     

     Address: No. 230 Binh Duong Avenue, Phu Loi Vard, Ho Chi Minh City INTERIM FINANCIAL STATEMENTS

     I'or the first 6 months of the fiscal year ending 31 December 2025

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     

     Interim Balance Street (cont.)

     
     
     

     	ITEMS	Code	Note	Ending balance		Beginning balance
     D -	OYNER'S EQUITY	400		5.109.872.954.683		5.0J8.908.043.585
     	Owner's equity	410		5.109.872.954.683		5.048.908.043.585
     I .	Owrer's capital	41 I	V.23	3.777.483.840.000		3.777.483.840.000
     	Ordinary shares carrying votiny rights	41 Io		J. 777.483.840.000		J. 777.483.8d0.000
     	Preferred shares	411 b
     2.	Share premiums	412	V.23	211.326.226.000		211.326.226.000
     3.	Bond conversion options	413
     4.	Other sources of capital	414
     S.	Treasury stocks	415
     G.	Differences on asset revaluation	416
     7.	Foreign exchange differences	417
     8.	Investment and development fund	418	V.23	753.300.181.4 62		704.578.470.202
     9.	Business arrangement supporting fund	4 19
     10.	Other funds	420
     11.	Retained earnings	42 I	V.23	367.762.707.221		355.5 ] 9.507.383
     	Retai'ned COFnings accumulated
     12.	to the end of the pFex'ious pert Od Rejoined earnings of lhe current period Construction nvestmenL Tan d	42I a 421 b 422		294.617.368.308 7 J.145.338.973
     II.	Other sources and funds	430
     1.	Sources of expenditure	43 I
     2.	Fund to form fixed assets	432
     	TOTAL LIABILI TIES AND OWNER'S EQUITY	440		7.680.5 I 8.253.459		7.648.825.524.178

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     

     Ho 26 August 2025

     
     
     
     
     
     
     
     
     

     Lu g Thi Ngoc Trinh

     
     
     
     
     
     

     Preparer

     Bui Thi Thuy Chief Accountant

     b, 'bsnB rig

     
     
     

     Chief Exécutive Officer

     
     
     
     
     
     
     
     
     
     
     
     

     BECANEX INFRASTRUCTURE DEVELOPMENT 3OTNT STOCK COMPANY

     
     
     

     Address.- No. 230 Binh Duong Avenue, Phu Loi Ward, Ho Chi Minh City INTERIM FINANCIAL STATEMENTS

     
     
     

     For the first 6 months of thefiscal year ending 31 December 2025

     INTERIM INCOME STATEMENT

     
     
     

     (Full form)

     Por the first 6 months of the fiscal year ending 31 December 2025

     Unit: VND

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     

     ITEMS

     Code Note Current yea r

     Previous year

     1.	Itevenue From sales of goods a nd provisions of services	01	VI.1	226.384.739.159	385.048.9T 0.327
     2.	Rev enue deductions	02	VI.2	26.74J.225.140	6.073.906.698
     3.	Net reven ue	iO		199.640.514.019	378.975.003.629
     4.	Cost of sales	11	VI.3	47.425.867.use	205.696.942.T 03
     		20		152.214.646.131	173.278.061.526
     6.	Financial income	21	VI.4	1.587.914.791	8.922.269.305
     7.	Financial expenses	22	VI.5	32.063.295.341	27.775.752.654
     	In which: Interest expenscs	23		20.853.6 10.993	28.889.652.654
     8.	Selling expenses	25	VI.6	12.316.825.4J I	13.187.596. 118
     g.	General and administretioa expenses	26	VI.7	20.45!.972.092	20.86'7.63.433
     10.	Net operati n g profit	30		88.970.468.078	J20.369.368.626
     I T.	Olher income	31	'I.8	T1.341.614.814	18.467.276.386
     12.	Other expenses	32	VI.9	9.002.097.251	14.264.933.22
     J3.	Other profit	40		2.339.517.563	4.202.343.T 65
     14.	Total accounting profit before taz	50		9J.309.985.641	12J.571.7t J.79T
     â 5.	Current income tax	51	V.16	18.164.646.728	24.257.683.773
     16.	Deferred income fax	52

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     

     1. Pra ñt a Pte r ta x

     2. Basic ea rn ings per sba re

     
     
     

     t9. Dil uted ea min gs per sh n re

     60

     70 VI.10

     71 V1.10

     
     
     
     
     
     

     73. I 45.338.913

     
     
     

     t00.3J4.028.078

     
     
     
     
     
     

     Ho Chi MinF. Cil(, 26 August 2025

     
     
     
     
     
     

     Luong Thi Ngoc Trinh

     
     
     

     Breparer

     Bui Thi Th uy Chief Accountant

     
     
     

     I I i* ^t^!eme I sh‹›!ild 6e head in cun)'imc Iion +v iih //ie .'•'r ice /o hue in/errni /' inan elm Slolenienls. 10

     BECA¥4EX INFRASTRUCTURE DEVELOPf4ENT 3OINT STOCK COMPANY

     
     
     

     Address: No. 230 Binh Duong Avenue, Phu Loi Ward, Ho Chi Minh C ill IN FERJ1t FINANCIAL STATEMENTS

     
     
     

     for thc first 6 months oF the fiscal year ending 3 I December2025

     INTERIM CASH FLOW STATEMENT

     (Full form)

     
     
     

     (Indirect method)

     For the first 6 months of the rascal year ending 31 December 2025

     
     
     
     
     
     

     Unit: VND

     ITEMS

     
     
     
     Cash flows ftom operating activities
     
     

     Code Note

     Current year

     
     
     
     I•rofii before fax 0I
     
     

     Depreciation/(Amortization) of fixed assets and investment propenies	.2	v.x;v.s;v.io	3 I . 100.930.869
     Provisions and allowances	03	V.5;V.13
     Exchange gain/(loss) due to revaluation of
     monetary ilems in foreign currencies	04
     GaiR/(loss) from ini'esting activii ice	05	VI.4;VI.8	(1,566.465.754)
     Loan interest expenses	06	VI.5	20.853.6 10.993
     Others 3. Operating profit before	07
     changes of 'crying capital			7//. 698.06/. 7/9
     Increase/(decrease) of receivables	OV		40.5 I I.329.435
     Increase/(decrease) of inventories	10		(67.469.305.775)
     Increase/(decrease) of payables	11		52.055.936.406
     Increase/(decrease) of prepaid expenses Increase/(decrease) of trading securities	1? j3		7.538.409.362
     Interests paid	14	V.18; 1.5	(19.373.630.563)
     Corporate income tax pai d	15	V.1 6	(1 7.183.167.947)
     Other cash ingrows	16
     Other cash outflo ws	17	V.21	(10.04 6.179. 167)

     2. Adjustments

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     

     Net cosh flo»'s from operating activities

     
     
     

     II. CBsh flows from investing 4ctiyities

     91.309.985.64I

     
     
     
     
     
     

     32.716.477.120

     (3,400.000.000)

     ( 14.796.74 5.958)

     28.889.652.654

     
     
     

     103.522.3 75.6 I I

     ( 1.254.460.868.838)

     
     
     

     585.500.244.838

     6.060.535.492

     
     
     

     (30.743.743.565) ( I 36.422.945.93 l)

     (9.876.979.167)

     
     
     
     
     
     

     and other non-current assets Proceeds from disposals of fixed assets	21	V.8;V.9;V.10 V. 12; '.14	( I 4.957.687.778)
     and other non-current assets Cash outflow for lending, buy ing debt instruments	22
     of other entities
     Cash recovered from lending, selling debt instruments
     of other entities	24
     Investments in other entities	2	V.13	(20.000.000. 000)
     Withdrawals of investments in other entities	26
     Interest earned, dixidends and profiM received	27	V.4;VI.4	28. 092.885.100

     I . Purchases and construct ion of fixed assets

     2.

     3.
     
     

     4.

     
     
     
6. 
   
   

ei Cash flows from investing activities 30

(41.231.024.706)

25.8 I 8.497.292

(466.000.000.000)

23.034.635.130

(6.86#.802. 678)

BECANEX INFRASTRUCTURE DEVELOPMENT 3OINT STOCK COf'1PANY

Address: No. 230 Binh Duong Avenue, Pho Loi Ward, Ho Chi Minh City INTERIM FINANCIAL STATEMENTS

Fot ltte first 6 months of the fiscal year ending 31 December 2025 Interim Cssh Flo»' Statement (cont.)

1TEMS

coae Note

Accumulated from the begin ning of the year

Current year Previous year

26 August 2025

-

Luong Tlii Ngoe Trinh Breparer

BECAMEX INFRASTRUCTURE DEVELOPMENT 3OINT STOCK CONPANY

Address: No. 230 Binh Duong Avenue, Phu Loi Ward, Ho Chi Minh City

INTERf W FINANCIAL STATEMENTS

For the first 6 months of the fiscal year ending 31 December 2025

NOTES TO THE INTERIM FINANCIAL STATEMENTS

For the first 6 months ol tbe lfiscal year ending $1 December 2025

1. GENERAL INFORMATION

   1. Ownership form

      
      
      

      Becamex Infrastructure Development Joint Stock Company (hereinafter referred to as "the Company") is a joint stock company.

      
      
      

   2. Operating field

      The Company's operating fields are servicing, trading real estate and construction.

   3. Principal business activities

      
      
      
      
      
      

      The Company's principal business activities are: to maintain, repair and operate toll stations; to construct civil and industrial works; to provide real estate brokerage, valuation, trading floor, consultancy, auction, advertising, management and trading services.

   4. Normal operating cycle

      
      
      

      The normal operating cycle of the Company is within 1 2 months. Particularly, the operating cycle of real estate projects depends on each business pJan.

   5. Effects of the Company's operation during the period on the Interim Financial Statements

      
      
      

      The Company's revenue decreased sharply against that of the same period of the previous year,

      mainly due to the challenges in the real estate market during the period.
      
      

   6. Structure of the Company * "

      
      
      

      SMbs idiar eS ' - ‹ i

      
      
      

      Capital

      Principal business contribution Benefit Voting

      
      
      

      Subsidiary'

      Becamex Hosp ital ity Company Limited

      
      
      

      Address

      Becamex Hotel, No. 230 Binh Duong Avenue, Phu Loi Ward, Ho Chi Minh City.

      activities rate rate ra‹e

      
      
      

      Operating restaurants and providing catering, event organization, hotel services, acting as an airline and train

      
      
      

      Becamex Trade Company

      Limited

      Becamex Tower, No. 230 Binh Duong Avenue, Phu Lot Ward, Ho Chi Minh City.

      ticket agent. Operating trade centers, providing tourism, passenger transport services, acting as an airline

      100% 100% 100%

      
      
      
      
      
      

      WTC Binh Duong One Member Company Limited (')

      
      
      

      B l I, Hung Vuong Street, Binh Duong Ward, Ho Chi Minh City.

      and train ticket agent. 100% 100% 100%

      Providing management consultancy, advertising, organizing trade introduction and

      promotion. 100% 100% I 00%

      
      
      
      
      
      
      
      
      
      
      
      

      (')

      On 18 February 2022, the Board of Directors approved the Resolution No. 0 I/NQ-HDQT on transferring its entire share capital at VTC Binh Duong One Member Company Limited to Investment and Industrial Development Joint Stock Corporation. The Company and Investment and Industrial Development Joint Stock Corporation are currently carrying out procedures to complete this transfer of capital.

      
      
      
      
      
      

      BECAMEX INFRASTRUCTURE DEVELOPMENT 3OINT STOCK COMPANY

      
      
      

      Address: No. 230 Binh Duong Avenue, Phu Loi Ward, Ho Chi Minh City INTERIM FINANCIAL STATEMENTS

      For the first 6 months of the fiscal year ending 31 December 2025

      
      
      

      Notes to the Interim Financial Statements (cont.)

      
      
      

      Associwes

      Capital

      Principal business contribution Benefit Voting

      
      
      

      Associate Address activities rate rate rate Becamex Binh Phuoc Highway 14, Chon Thanh Investing and trading 3 1,77% 31,77% 31,77% Infrasmicture Development Ward, Dong Nai Province in real estate

      Joint Stock Company

      
      
      

      Ho Chi Minh City - Thu WTC Tower, No. 01, Hung Road construction 20,00% 20,00% 20,00%

      
      
      
      
      
      

      Dau Mot - Chon Thanh Vuong Street, Binh Duong Expressway Joint Stock Ward, Ho Chi Mirih City Company

   7. Statement of information comparability on the Interim Financial Statements

      
      
      

      The corresponding figures of the previous period can be comparable with figures of the current period.

   8. Headcount

      
      
      

      As of the balance sheet date, the Company's headcount is 197 (headcount at the beginning of the year. 200).

      
      
      

2. FISCAL YEAR AND ACCOUNTING CURRENCY

The fiscal year of the Company is from 01 January to 31 December annually.

2. Accounting currency unit

The accounting currency unit is Vietnamese Dong (VND) because the Company's transactions are primarily made in VND.

1. Accounting System

   
   
   

   The Company applies the Vietnamese Accounting Standards, the Vietnamese Enterprise Accounting System, which were issued together with the Circular No. 200/2014/TT-BTC dated 22 December 2014, the Circular No. 33/201 6/TT-BTC dated 2 I March 2016 as well as other Circulars guiding the implementation of Vietnamese Accounting Standards of the Ministry of Finance in preparation and presentation of the Interim Financial Statements.

   
   
   

2. Statement of the compliance with the Accounting Standards and System

The Board of Management ensures to No! low all the requirements of the Vietnamese Accounting Standards, the Vietnamese Enterprise Accounting System, which were issued together with the Circular No. 200/2014/TT-BTC dated 22 December 2014, the Circular No. 53/2016/TT-BTC dated 2l March 201 6 as well as other Circulars guiding the implementation of Vietnamese Accounting Standards of the Ministry of Finance in preparation and presentation of the Interim Financial Statements.

1. ACCOUNTING POLICIES

   1. 4 ccounting convention

      
      
      

      All the Interim Financial Statements are prepared on the accrual basis (exccpt for the information related to cash flows).

      BECA?'1EX INFRASTRUCTURE DEVELOPMENT 3OINT STOCK CO£1PANY

      
      
      

      Address: No. 230 Binh Duong Avenue, Phu Loi Ward, Ho Chi Minh City INTERIM FINANCI AL STATEMENTS

      For the first 6 months of the fiscal year ending 31 December 2025

      
      
      

      endo s e F nan t t

   2. Cash and cash equivalents

      
      
      

      Cash includes cash on hand and cash in bank. Cash equivalents are short-term investments of which

      thc due dates do not exceed 3 months from the dates of the investments that are readily convertible

      into known amounts of cash and that are subject to an insignificant risk of change in value as of the

      balance sheet date.
      
      

   3. Financial investments

      
      
      

      Investments in subsidiariesand associates Subsidiary

      Subsidiary is an entity that is controlled by the Company. Control is the Company's power to govern

      the financial and operating policies of an entity so as to obtain benefits from its activities.
      
      

      Associate

      
      
      

      An associate is an entity which the Company has significant influence but not the control to govern the financial and operating policies. Significant influence is the right to participate in making the associate's financial and operating policies but not control those policies.

      Initial recognition
      
      
      
      
      
      
      
      

      Investments in subsidiaries and associates are initially recognized at costs, including the costs of acquisition or capital contributions plus other directly attributable transaction costs. In case of investment in non-monetary assets, the costs of the investment are recognized at the fair value of non-monetary assets at the arising time.

      
      
      
      
      
      

      Dividends and profit incurred prior to the acquisition of investments are deducted into the investment costs. Dividends and profit incurred afler the acquisition of investments are recorded into the Company's financial income.

      
      
      

      Provisions for impairment of investments in subsidiaries and associates ' Provisions for impairment of investments in subsidiaries and associates are made when the subsidiaries and associates sufrer from losses at the rate equal to the difference between the actual

      capital invested by investors in subsidiaries and associates and the actual owner's equity multiplying

      
      
      

      (x) by the Company's rate of capital contribution over the total actual capital invested by investors in subsidiaries and associates. lf the subsidiaries and associates are consolidated into Consolidated Financial Statements, the basis for impairment provisions is the Consolidated rinancial Statements.

      
      
      

      Increases/decreases in the provisions for impairment of investments in subsidiaries and associates as of the balance sheet date are recorded into financial expenses.

      
      
      

      Investments in eq«i{y instruments of other entities

      Investments in equity instruments of other entities include such investments in equity instruments that do not enable the Company to have the control, joint control or significant influence on these entities.

      
      
      
      
      
      
      
      
      
      
      
      
      
      
      

      Investments in equity instruments of other entities are initially recognized at costs, including costs of acquisition or capital contributions plus other directly attributable transaction costs. Dividends and profit incurred prior to the acquisition of investments are deducted into investment costs. Dividends and profit incurred after the acquisition of investments are recorded into the Company's financial income. he dividends paid in form of shares are not recorded as an increase in costs, but thc increases in quantity of shares is followed up.

      
      
      BECAMEX INFRASTRUCTURE DEVELOPMENT 3OINT STOCK COMPANY
      
      
      

      Address: No. 230 Binh Duong Avenue, Phu Loi Ward, Ho Chi Minh City INTERIM FINANCIAL STATEMENTS

      For the first 6 months of the fiscal year ending 31 December 2025

      
      
      

      Notes to tbe Interim I inanciol Statements (cont.)

      
      
      

      Provisions for impairment of investments in equity instruments of other entities are made as follows:

      • For investments in listed shares or fair value of investments which is reliably measured, provisions are made on the basis of the market value of shares.

        
        
        
        
        
        

      • For investments of which the fair value cannot be measured at the time of reporting, provision is made based on the losses suffered by investees, with the amount defined by the difference between owners' actual contributed capital and the total owners' equity as of the balance sheet date multiplied (x) by the Company's rate of charter capital owning in these investees.

        Increases/decreases in the provisions for impairment of investments in equity instruments of other entities as of the balance sheet date are recorded into financial expenses.

        Receivables
        
        
        
        
        

        Receivables are recognized at the carrying amounts less allowances for doubtful debts.

        The classification of receivables as trade receivables and other receivables is made according to the following principles:

        
        
        

      • Trade receivables reflect receivables concerning the commercial nature arising from purchase and sale transactions between the Company and customers who are independent to the Company.

        
        
        

      • Other receivables reflect receivables not concerning the commercial nature and irrelevant to purchase and sale transactions.

      
      
      

      Allowance is made for each doubtful debt on the basis of estimated loss.

      
      
      
      
      
      
      
      
      

      Increases/decreases in the obligatory allowance for doubtful debts as of the balance sheet date are ''", recorded into general and administration expenses. "!

      
      
      

      1. Inventories

         
         
         

         Inventories are recognized at the lower of costs or net realizable value.

         
         
         

         Costs of inventories are determined as follows:

         
         
         

         • For materials and merchandise: Costs comprise costs of purchases and other directly relevant costs incurred in bringing the inventories to their present location and conditions.

         • Work-in-process: Costs comprise costs for land use right, construction costs, direct costs and general costs arising for the property investment and construction.

           
           
           

         • For real estate: Costs comprise all costs directly relevant to the investment and construction of real estate to make the real estate ready for sale.

           
           
           

           Stock-out costs are determined in accordance with the first-in first-out method and recorded in line with the perpetual method.

           Net realizable value is the estimated selling price of inventories in the ordinary year of business less

           the estimated costs of completion and the estimated costs necessary to make the sale.
           
           
           
           
           

           Allowance for devaluation of inventories is recognized for each type of inventories when their costs are higher than their net realizable values. Increases/decreases in the obligatory allowance for devaluation of inventories as of the balance sheet date are recorded into costs of sales.

           
           
           
           
           
           
           
           
           

           These 16

           
           
           

           BECAMEX INFRASTRUCTURE DEVELOPMENT 3OINT STOCK COMPANY

           
           
           

           Address: No. 230 Binh Duong Avenue, Phu Loi Ward, Ho Chi Minh City INTERIM FINANCIAL STATEMENTS

           For the first 6 months of the fiscal year ending 31 December 2025

           
           
           

           Notes to the Interim Financial Statements (cont.)

      2. Prepaid expenses

         
         
         
         
         
         

         Prepaid expenses comprise actual expenses incurred and relevant to financial performance in several fiscal years. Prepaid expenses of the Company mainly include expenses of tools, expenses of Highvay 13 maintenance and repair and leasing and management costs of Binh Phuoc workers' houses. These prepaid expenses are allocated over the prepayment period or period in which corresponding benefits are realized.

         Expenses of taols

         
         
         

         The expenses of tools being put into use are allocated into costs in accordance with the straight-line method for the maximum period of 3 years.

         
         
         

         Expenses ofHighway 13 maintenance and repair

         The expenses of Highway 13 maintenance and repair are allocated into costs over the estimated useful lives.

         
         
         

         Leasing and management costs of Binh Phuoc workers' houces

         The leasing and management costs of Binh Phuoc workers' houses are allocated into costs over the lease

         term.

      3. Operating leased assets

      
      
      

      A lease is classified as an operating lease if it transfers substantially all the risks and rewards incident to ownership belonging to the lessor. The lease expenses are allocated in the Company's operation costs in accordance with the straight-line method over the lease term and do not depend on the method of lease payment.

      
      
      

      8 Tangible fixed assets

      
      
      
      
      
      
      
      
      
      
      
      

      Tangible fixed assets are determined by their historical costs less accumulated depreciation. Historical costs of tangible fixed assets include all the expenses paid by the Company to bring the asset to its working condition for its intended use. Other expenses arising subsequent to initial recognition are included into historical costs of fixed assets only if it can be clearly demonstrated that the expenditure has resulted in future economic benefits expected to be obtained from the use of these assets. Those which do not meet the above conditions will be recorded into operation costs during the period.

      
      
      

      When a tangible fixed asset is sold or disposed, its historical cost and accumulated deprcciation are written off, then any gain or loss arising from such disposal is included in the income or the expenses during the period.

      
      
      

      Tangible fixed assets are depreciated in accordance with the straight-line method over their estimated useful lives. The depreciation years applied are as follows:

      Fixed assets

      
      
      

      Buildings and structures Machinery and equipment Vehicles

      Office equipment

      Years

      05 - 50

      05 - 10

      06 - 10

      05 - 10

      Intangible fixed assets
      
      

      Intangible fixed assets are determined by their initial costs less accumulated amortization.

      
      
      
      
      
      

      The Company's intangible fixed asset only inclucles computer software. Expenses attributable to computer software, which is not a part associated with the relevant hardware, will be capitalized. Costs of computer software include all the expenses paid by the Company until the date the software is put into use. The computer software is amortized in accordance o ith the straight-line method from 5 to *0 years.

      
      
      
      
      
      
      
      
      

      When an intangible fixed asset is sold or disposed, its initial costs and accumulated amortization are written off, then any gain or loss arising from such disposal is included in the income or the expenses during the period.

      
      
      
      
      
      BECAMEX INFRASTRUCTURE DEVELOPMENT 3O7NT STOCK COMPANY
      
      
      

      Address: No. 230 Binh Duong Avenue, Phu Loi Ward, Ho Chi Minh City

      INTERIM FINANCIAL STATEMENTS

      For the first 6 months of the fiscal year ending 31 December 2025

      
      
      

      Notes to the Interim Financial Statements (cont.)

      1. Investment properties

         
         
         
         
         
         
         
         
         

         Investment property is property which is land use right, a building or part of a building, infrastructure held by the Company or by the lessee under a finance lease to earn rentals or for capital appreciation. Investment properties for lease are measured at their historical costs less accumulated depreciation. Investment properties for capital appreciation are measured at their historical costs less impairment. Historical cost includes all the expenses paid by the Company or the fair value of other considerations given to acquire the assets up to the date of its acquisition or construction.

         
         
         

         Expenses related to investment property arising subsequent to initial recognition should be added to the historical cost of the investment property when it is probable that future economic benefits, in excess of the originally assessed standard of performance of the existing investment property, will flow to the Company.

         
         
         

         When the investment property is sold or disposed, its historital cost and accumulated depreciation are written off, then any gain or loss arising from such disposals is included in the income or the expenses during the period.

         
         
         
         
         
         
         
         
         

         The transfer from owner-occupied property or inventories into investment property shall be made when, and only when, there is a change in use evidenced by the end of owner-occupation and the commencement of an operating lease to another party or the end of construction. The transfer from investment property to owner-occupied property or inventories shall be made when, and only when, there is a change in use evidenced by the commencement of owner-occupation or the commencement of development with a view to sale. The transfer from investment property to owner-occupied

         
         
         
         
         
         

         property or inventories does not change the historical cost or carrying value of investment property at ' the date of transfer.

         
         
         
         
         
         

         Investment property for lease is depreciated in accordance with the straight-line method over their estimated useful lives. The depreciation years ot'the investment property are 50 years.

         
         
         

      2. Construction-in-progress

         Construction-in-progress reflects the expenses (including relevant interest expenses following the accounting policies of the Company) directly attributable to assets under construction, machinery and equipment under installation for purposes of production, leasing and management as well as the repair

         of fixed assets in progress. These assets are recorded at historical costs and not depreciated.
         
         

      3. Contractual arrangement

         
         
         

         Jointly controlled •Rerations

         In respect of its interest in jointly controlled operations, the Company shall recognize in its Interim Financial Statements:

         
         
         

         • the assets that the Company controls.

         • the liabilities that the Company incurs.

         • the Company earns from the sale of goods or services by the joint venture.

           
           
           

         • the expenses that the Company incurs.

      4. Payables and accrued expenses

         
         
         

         Payables and accrued expenses are recorded for the amounts payable in the future associated with the goods and serv iccs received. Accrued expenses are recorded based on reasonable estimates for the amounts pa}'able.

         
         
         

         The classification of payables as trade payables, accrued expenses and other payables is made on the basis of following principles:

         
         
         
         
         
         
         
         
         

         • Trade payables reflcct payables of commercial nature arising from the purchase of goods, services, or assets, of which the seller is an independent entity with the Company .

           
           
           

           BECAf tEX INFRASTRUCTURE DEVELOPPIENT 3O1NT STOCK COMPANY

           
           
           

           Address. No. 230 Binh Duong Avenue, Phu Loi Ward, Ho Chi Minh City INTERIM FINANCIAL STATEMENTS

           For the first 6 months of the fiscal year ending 31 December 2025

           
           
           

           Notes to the Interim Financial Statements (cont.)

           
           
           

         • Accrued expenses reflect expenses for goods, services received from suppliers or supplied to customers but have not been paid, invoiced or lack of accounting records and supporting documents; pay on leave payable to employees; and accrual of operation expenses.

           
           
           

         • Other payables reflect payables of non-commercial nature and irrelevant to purchase, sales of goods or provisions of services.

           
           
           

           The payables and accrued expenses are classified as short-term and long-term items in the Interim Balance Sheet on the basis of their remaining term as of the balance sheet date.

      5. Ordina ry bonds

      Ordinary bonds are bonds that cannot be converted into shares.

      
      
      
      The carrying value of ordinary bonds is reflected on the net value of the face value minus bond issuance costs.
      
      

      The bond issuance costs are allocated matching the term of bonds under the straight-line method or the effective interest rate method and recognized in financial expenses or capitalized.

      
      
      

      l5. Owner's equity

      Owner's capital

      The owner's capital is recorded according to the actual amounts invested by shareholders.

      Share premiums
      
      
      
      
      
      
      
      
      
      
      

      Share premiums are recorded in accordance with the difference between the issuance price and face value upon the IPO, additional issue or the difference between the re-issuance price and carrying value of treasury shares and the equity component of convertible bonds upon maturity date. Expenses directly related to the additional issue of shares and the re-issuance of treasury shares are recorded as a decrease in share premiums.

      1. Profit distribution

         Profit after tax is distributed to the shareholders after appropriation for funds under the Charier of the

         Company as well as legal regulations and approved by voting of the General Meeting of Shareholders.
         
         
         
         
         

         The distribution of profit to the shareholders is made with consideration toward non-cash items in the retained earnings that may affect cash flows and payment of dividends such as profit due to revaluation of assets contributed as investment capital, profit due to revaluation of monetary items, financial instruments and other non-cash items.

         
         
         

         The dividends are recorded as payables upon approval by voting of the General Meeting of Shareholders and notification on dividend payment of the Board of Directors.

         
         
         

      2. Recognition of revenue and income

         Revenue from provisions of services

         Revenue from provisions of services shall be recognized when all of the following conditions are satisfied:

         
         
         

         • The amount of revenue can be measured reliably. When the contract stipulates that the buyer is entitled to return the services provided under specific conditions, the rc venue is recognized cnly when these specific conditions are no longer existed and the buyer is not entitled to return the services provided.

           
           
           

         • The Company received or shall probably receive the economic benefits associated with the provision of services.

         • The stage of completion of the transaction at the end oI reporting period can be measured reliably.

           
           
           

         • The costs incurred for the transaction and the costs to complete the transaction can be measured reliably.

           
           
           
           
           
           
           
           
           
           
           
           

           These notes form 19

           BECANEX INFRASTRUCTURE DEVELOP?4ENT 3OINT STOCK COMPANY
           
           
           

           Address: No. 230 Binh Duong Avenue, Phu Loi Ward, Ho Chi Minh City INTERIM FINANCIAL STATEMENTS

           ror the first 6 months of the fiscal year ending 31 December 2025

           
           
           

           Notes to the Interim Financial Statements (cont.)

           In the case that the services are provided in several accounting periods, the determination of revenue is

           done on the basis of the volume of work done as of the balance sheet date.
           
           

           Reveztae fram sales of real est‹iie

           
           
           

           Revenue from sales of real estate that invested by the Company shall be recognized when all of the following conditions are satisfied:

           
           
           

           « The real estate is fully completed and handed over to the buyers, and the Company transfers most of risks and benefits incident to the ownership of teal estate to the buyer.

           « The Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the real estate sold.

           
           
           

           • The amount of rcvenue can be measured reliably.

             
             
             

           • The Company received or shall probably receive the economic benefits associated with the transaction.

           * The costs incurred or to be incurred in respect of the transaction can be measured reliably.

           
           
           

           In case the customer has the right to complete the interior of the real estate and the Company completes the interiors according to the designs, models as requested by customer under a separate contract on interior completion, revenues are recognized upon the completion and handover of the main construction works to customers.

           Revenue from operating lease
           
           
           
           
           

           Revenue from operating lease is recognized in accordance with the straight-line method during the

           
           
           

           lease term. Rentals received in advance for several periods are allocated to revenues in consistence with the lease term.

           
           
           

           Interest

           Interest is recorded, based on the term and the actual interest rate applied in each particular period.

           
           
           

           Dividends and profit received

           Dividends and profit received are recognized n hen the Company has the right to receive dividends or profit from the capital contribution.

           
           
           

      3. Construction contract

         Construction contract is a contract agreed for acquisition of an asset or combined assets closely relevant or mutually dependent on their design, technology, function or basic using purpose.

         When the results of the contract implementation can be estimated reliably:
         
         
         
         
         

         • For construction contracts in which the contractor is entitled to pay according to construction progress: revenue and expenses relevant to thecomm cts are recognized to corresponding completed assignment determined by the Company as of the balance sheet date.

           
           
           

         • For construction contract in which the contractor is entitled to pay according to volume of work done: revenue and expenses relevant to the contracts are recognized to corresponding completed assignment confirmed by customer and are reflected in the in voices.

         
         
         

         Increases/Decreases in construction volume, compensations and other receivables are out y recognized

         into revenue when these are mutually agreed with the customer.

         
         
         

         When the results of the contract implementation cannot be estimated reliably:

         « The revenue is only recognized equivalent to the contract's expenses and the payment is relatively reliable.

         
         
         

         e The Contract's expenses are only recognized as the expenses w'hen they occur.

         
         
         
         
         
         
         riotes form un inte gra1 pari of anil sh‹›iild be read in conjiinri ion n'iili che Inte rim Kinnncia1 Statements 20
         
         
         
         
         

         BECAMEX INFRASTRUCTURE DEVELOPMENT 3OINT STOCK COMPANY

         
         
         

         Address: No. 230 Binh Duong Avenue, Phu Loi Ward, Ho Chi Minh City

         INTERIM FINANCIAL STATEMENTS

         For the first 6 months of the fiscal year ending 3 1 December 2025

         
         
         

         Notes to the Interim Financial Statements (cont.)

         
         
         

         Difference between total accumulated revenue from construction contract recognized and the accumulated amount in the invoice of payment under the contract plan is recognized as receivable or payable under the contract plan.

         
         
         

      4. Itevenue deductions

         Revenue deâuct1ons onl}' include sales returns incurred in the same period of provJding products, merchandise, in which revenues are derccognized.

         In case of products, merchandise provided in the previous periods but sales returns incurred in the current period, revenues are derecognized as follows:
         
         
         
         
         

         • If sales returns incur prior to the release of the Interim Financial Statements, revenues are derecognized on the Interim Financial Statements of the current period.

           
           
           

         • If sales returns incur afier the release of the lnterim Financial Statements, revenues are derecognized on the Interim Financial Statements of the following period.

      5. Borrowing costs

         
         
         

         Borrowing costs are interest and other costs that the Company directly incurs in connection with the borrowing.

         
         
         
         
         
         
         
         
         
         
         
         

         Borrowing costs are recorded as an expense when they are incurred. In case the borrowing costs are directly attributable to the construction or the production of an asset in progress, which takes a substantial period of time (over 12 months) to get ready for intended use or sales of the asset, these costs ivilJ be included in the cost of that asset. To the extent that the borrowings are especially for the purpose of construction of fixed assets and investment properties, the borrowing cost is eligible for capitalization even if construction period is under 12 months. Incomes arisen from provisional investments as borrowings are recognized as a decrease in the costs of relevant assets.

         
         
         
         In the event that general borrowings are partly used for the acquisition, construction or production of an asset in progress, the costs eligible for capitalization will be determined by appJying the capitalization rate to average accumulated expenditure on construction or production of that asset. The capitalization rate is computed at the weighted average interest rate of thc borrowings not yet paid during the period, except for particular borrowings serving the purpose of obtaining a specific asset.
         
         
         
         
         

      6. Expenses

         
         
         

         Expenses are those that result in outflows of the economic benefits and are recorded at the time of transactions or when incurrence of the transaction is reliable regardless of whether payment for expenses is made or not.

         
         
         
         
         
         

         Expenses and their corresponding revenues are simultaneously recognized in accordance with matching principle. In the event that matching principle conflicts with prudence principle, expenses are recognized bascd on the nature and regulations of accounting standards in order to guarantee that transactions can be fairly and truly reflected.

      7. Corporate income tax

         
         
         

         Corporate income tax includes current income tax and deferred income tax.

         Current income la.x

         
         
         
         
         
         
         
         
         
         
         
         

         Current income tax is the tax amount computed based on the assessable income. The assessable income is different from accounting profit due to the adjustments of temporary differences between tax and accounting figures, non-deductible expenses as well as those of non-taxable income and losses brought forward.

         
         
         

         BECAMEXINFRASTRUCTUREDPVELOPMENTJOINTSTOCKCOMPANY

         
         
         

         Address: No. 230 Binh Duong Avenue, Phu Loi Ward, Ho Chi Minh City INTERIM FINANCIAL STATEMENTS

         For the first 6 months of the fiscal year ending 31 December 2025

         
         
         

         Notes to the Interim Financial Statements (cont.)

         Deferred income tnx

         
         
         
         
         
         
         
         
         

         Deferred income tax is the amount of corporate income tax payable or refundable due to temporary differences between book values of assets and liabilities serving the preparation of the Interinn Financial Statements and the values for tax purposes. Deferred income tax liabilities are recognized for all the temporary taxable differences. Deferred income tax assets are recorded only when there is an assurance on the availability of assessable income in the future against which the temporar ily deductible differences can be used.

         
         
         

         Carrying values of deferred corporate income tax assets are considered as of the balance sheet date and will be reduccd to the rate that ensures enough assessable income against which the benefits from part of or all of the deferred income tax can be used. Deferred corporate income tax assets, which have not been recorded before, are considered as of the balance sheet date and are recorded when there is certainly enough assessable income to use these unrecognized deferred corporate income tax assets.

         
         
         
         
         
         

         Deferred income tax assets and deferred income tax liabilities are determined at the estimated rate to be applied in the year when the assets are recovered or the liabilities are settled based on the effective tax rates as of the balance sheet date. Deferred income tax is recognized in the Interim Income Statement. In the case that deferred income tax is related to the items of the owner's equity, corporate income tax will be included in the o›vncr's equity.

         
         
         

         The Company shall offset deferred tax assets and deferred tax 1iabilities if

         • The Company has the legal right to offset current income tax assets aga inst current income tax liabilities; and

           
           
           
           
           
           
           
           
           

         • Deferred income tax assets and deferred income tax liabilities are relevant to corporate income tax which is under the management of one tax authority either:

         
         
         

         Of the same subject to corporate income tax; or

         
         
         
         
         
         
         
         
         

         The Company has intention to pay current income tax liabilities and current income tax. assets on a net basis or recover tax assets and settle tax liability simultaneously in each future period to the extent that the majority of deferred income tax liabilities or deferred income tax assets are paid or recovered.

      8. Related parties

         
         
         
         
         
         

         A party is considered a related party of the Company in case that party is able to control the Company or to cause material effects on the financial decisions as well as the operations of the Company. A party is also considered a related party of the Company in case that party is under the same control or is subject to the same material effects.

         Considering the relationship of related parties, the nature of relationship is focused more than its legal form.

         
         
         

      9. Segment reporting

      A business segment is a distinguishable component of the Company that is engaged in manufacturing or providing products or services and that is subject to risks and returns that are diffcrent from those of other business segments.

      
      
      
      A geographical segment is a distinguishable component of the Company that is engaged in manufacturing or providing products or services within a particular economic environment and that is subject to risks and returns that are different from those ot' components operating in other economic environments.
      
      
      
      
      
      
      
      
      
      
      

      The segment information is prepared and presented in conformity with the accounting policies applicable to the preparation and presentation of the Interim Financial Statements of the Company.

      
      
      

      BECAMEX INFRASTRUCTURE DEVELOPPIENT 3OINT STOCK COPIPANY

      
      
      

      Address: No. 230 Binh Duong Avenue, Phu Loi Ward, Ho Chi Minh City INTERIM FINANCIAL STATEMENTS

      For the first 6 months of the fiscal year ending 3 1 December 2025

      
      
      

      Noles to the lnterim Financial Statements (cont.)

      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      

2. ADDITIONAL INFORMATION ON THE ITEMS OF THE INTERIM BALANCE SHEET