BOS Securities JSC (Code: ART) has just been put under control by the State Securities Commission due to failing to meet financial safety criteria, violating Clause 1, Article 14 of Circular No. 91/2020/TT-BTC of the Ministry of Finance.
Previously, in May 2024, the State Securities Commission also revoked the certificate of eligibility for derivatives trading and providing derivatives clearing and settlement services of BOS.
BOS Securities (ART) has suffered losses for 6 consecutive quarters with only symbolic revenue (Photo TL)
With this transfer to the control list, if BOS Securities cannot fix the problem within 4 months, the company may be partially suspended from trading.
Regarding business activities, in the past 2 years, BOS Securities has been in a gloomy situation, with almost no revenue. In the past year, the company has also continuously suffered losses, with profits from securities trading always being negative.
In Q2/2024, BOS Securities only recorded revenue of VND294 million, gross loss from business operations of VND1.8 billion. In addition, ART still had to pay operating expenses, causing the unit to lose VND6.2 billion after tax. Including Q2/2024, BOS Securities has suffered losses for 6 consecutive quarters.
Accumulated in the first 6 months of 2024, BOS Securities has not brought in 500 million VND in revenue, the total loss after tax is more than 12.5 billion VND.
At the end of 2024, the company's total assets were 144.2 billion VND, of which 114.4 billion VND was from loans. Owner's equity dropped sharply, to only 139.8 billion VND after a long period of losses and gloomy business.
Source: https://www.congluan.vn/chung-khoan-bos-art-thua-lo-lien-6-quy-bi-ubcknn-dua-vao-dien-kiem-soat-post316739.html
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