ANTD.VN - Rang Dong Holding Joint Stock Company (stock code: RDP) has just continued to be administratively sanctioned by the State Securities Commission for violations related to information disclosure.
According to the decision of the State Securities Commission (SSC), Rang Dong Holding was fined VND 92.5 million for failing to disclose information required to be disclosed according to law.
The State Securities Commission said that the Company did not disclose information on the State Securities Commission's information disclosure system and on the website of the Ho Chi Minh City Stock Exchange regarding the 2024 audited semi-annual financial statements; disclosed information not on time as prescribed for the 2023 audited separate financial statements, 2023 audited consolidated financial statements, 2023 Annual Report, Explanation of audit opinions on the 2023 separate financial statements and consolidated financial statements.
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Rang Dong Holding Joint Stock Company is known for its famous Rang Dong plastic brand. |
In particular, Rang Dong Holding was fined VND 150 million for publishing false information. Accordingly, the Company published false information on the 2023 after-tax profit target in the separate financial statements of the fourth quarter of 2023 and the consolidated financial statements of the fourth quarter of 2023. Specifically, in the separate financial statements of the fourth quarter, the company's after-tax profit was more than VND 17 billion, but after the audit, it was negative VND 117.6 billion.
Similarly, the 2023 after-tax profit on the consolidated financial statements for the fourth quarter of 2023 is 26 billion VND, but on the re-audited consolidated financial statements for 2023, it is negative 146.7 billion VND.
Thus, the total fine for Rang Dong Holding is 242.5 million VND.
Rang Dong Holding Joint Stock Company is known for its famous Rang Dong Plastic brand. However, recently, this enterprise has been facing continuous difficulties. At the end of 2023, the Company received a verdict of losing the lawsuit against foreign shareholder Sojitz Planet Corporation (belonging to Sojitz Group - Japan) and had to pay back nearly 157 billion VND along with related fees and charges.
After this event, Mr. Ho Duc Lam, Chairman of the Board of Directors, continuously sold shares and had about 19 million RDP shares liquidated, reducing his ownership ratio from 45% to only 6.09% currently.
Last August, General Director Ha Thanh Thien submitted his resignation, and Mr. Thien was replaced by Mr. Huynh Kim Ngan, who had never held any position at Rang Dong Holding.
Recently, this enterprise was suspended from trading by HOSE due to violating information disclosure obligations (late submission of audited semi-annual financial statements for 2024 and third quarter financial statements for 2024).
Explaining the reason for the delay in disclosing information, Rang Dong Holding said that the Company and the auditing organization, Nhan Tam Viet Auditing Company Limited, could not finalize the 2024 semi-annual audited financial statements on time. After that, the Company encountered difficulties with personnel, especially many accounting staff quit their jobs. Therefore, the Company could not complete the submission of the Financial Statement on time.
In another related development, Rang Dong Holding recently changed its Chief Accountant from December 1, 2024.
Source: https://www.anninhthudo.vn/co-phieu-bi-dinh-chi-giao-dich-rang-dong-holding-nhan-them-an-phat-vi-cong-bo-lo-thanh-lai-post598126.antd
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