Novaland is working with auditors to soon announce the 2024 semi-annual audited financial report. In the photo is a Novaland project in Ho Chi Minh City - Photo: QUANG DINH
Novaland: Work is piling up and complicated, working with auditors to complete documents
The Ho Chi Minh City Stock Exchange (HoSE) has just decided to put shares of No Va Real Estate Investment Group Joint Stock Company (Novaland, stock code NVL) on the warning list from September 23.
The reason is that this real estate company is late in submitting its audited semi-annual financial report for 2024 compared to the prescribed deadline.
Earlier this month, HoSE moved NVL code into the list of stocks ineligible for margin trading, meaning investors cannot borrow money from securities companies to buy this stock.
Responding to Tuoi Tre Online this afternoon, September 17, Novaland said that the first half of this year is the time when the restructuring process takes place strongly and drastically.
Novaland is working hard with the auditor to complete the final review stages, to soon announce the 2024 semi-annual audited financial report," the company shared.
"With all its capabilities, Novaland always strives to maintain business operations and harmonize the interests of customers, investors, partners, shareholders and stakeholders, contributing to social security and the development of the country's tourism economy," the company said.
According to its independent financial report, Novaland earned nearly VND2,250 billion in revenue in the first half of 2024. After deducting cost of goods sold and expenses, the company had VND344 billion in net profit after tax, an increase of nearly 132% compared to the loss in the same period last year, thanks to increased financial revenue.
On the stock market, NVL code is trading around 10,850-11,000 VND/share, down 23% in the past quarter.
Duc Long Gia Lai: Complicated due to having subsidiaries abroad
Today, HoSE also decided to move shares of Duc Long Gia Lai Group Joint Stock Company (stock code DLG) to the warning list from September 23.
The reason for the penalty is similar. The enterprise is late in submitting the audited financial report for the 2024 semi-annual period, 15 days later than the regulation.
At the end of last month, Duc Long Gia Lai requested to postpone the announcement of the audited separate and consolidated financial statements for the first half of 2024.
The company explained that it has four subsidiaries and one associate. One of the subsidiaries (Mass Noble) is based in the British Virgin Islands. This makes financial reporting complicated and time-consuming.
Notably, in an announcement more than half a month ago, Duc Long Gia Lai was named by the Government Inspectorate for owing land rent for many years, but the Gia Lai Provincial People's Committee did not resolutely handle it.
Recently, the Gia Lai Provincial People's Court decided not to open bankruptcy proceedings for the second time against Duc Long Gia Lai at the request of creditors.
Currently, DLG stock code is trading at 1,780 VND/share, down 14% in the past quarter.
Source: https://tuoitre.vn/stocks-under-warning-novaland-va-duc-long-gia-lai-noi-gi-20240917121209709.htm
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