Ho Chi Minh City Stock Exchange (HoSE) has just decided to suspend trading of TNA, DRH and LEC shares for violating information disclosure regulations.
The Ho Chi Minh City Stock Exchange said it will transfer shares of Thien Nam Import-Export Trading Joint Stock Company (TNA), DRH Holdings Joint Stock Company (DRH) and Central Power Real Estate Joint Stock Company (LEC) from restricted trading to suspended trading. The official time of suspension of trading has not been announced.
According to HoSE, the reason for the suspension of trading of the shares of these 3 companies is that they continue to violate regulations on information disclosure (specifically, the delay in publishing the audited consolidated financial statements for the 2024 half-year) while they are subject to trading restrictions. Before this decision, HoSE had sent a letter reminding the companies about the delay in publishing financial statements.
In an explanatory document at the end of August 2024, the Board of Directors of Thien Nam (TNA) said that the company currently does not have an audit report for 2023, so it cannot publish the semi-annual audit report for 2024 due to the impact of related figures. The company is actively working with the auditing unit to issue the 2023 audit report in September 2024, and will then publish the semi-annual review report for 2024.
Previously, TNA shares were put on restricted trading (only traded in the afternoon session) from May 24 due to the delay in submitting the 2023 audit report by more than 45 days. The company said the reason was due to provisions that Thien Nam Group needed to clarify with the auditor.
TNA shares are currently at 4,180 VND, slightly up from the record low price recorded on September 5 (4,140 VND). The matching volume in recent sessions has been relatively gloomy, with only 2,100 shares changing hands in one session. Market capitalization is nearly 206 billion VND.
As for DRH, this stock was transferred from controlled to restricted trading since May 27 because it was 45 days late in submitting the 2023 audit report.
The company said that during the audit period, the company had fully implemented the procedures required by the auditor. However, the auditor did not clearly respond to the reason for the suspension of the audit for the 2023 financial report. DRH Holdings has worked with the above auditor and committed to completing the delayed report before August 15.
On September 5, the company announced its audited financial report for 2023 with revenue of only nearly 8.8 billion VND and a loss after tax of nearly 104 billion VND, while the self-made report showed a loss of 95 billion VND.
On the stock exchange, DRH experienced 6 consecutive sessions of slight decline, down to 2,320 VND. This code has decreased by more than half compared to 4,990 VND at the beginning of the year. The matched volume in the last 10 sessions was more than 290,600 units.
For LEC, this stock was put on warning status at the end of June because the audited consolidated financial statements for 2023 had an exception audit opinion and were put under control because the undistributed profit after tax in the audited consolidated financial statements for 2023 was negative.
In early July 2024, the company sent a document to the State Securities Commission and the Ho Chi Minh City Stock Exchange regarding the roadmap and resolution of the above situation. Regarding the audit opinion on the consolidated report, it is expected that this year, 21 apartments in Building D of the Soleil Danang Project complex, transferred by Hoa Binh, will be handed over and put into operation as rental apartments. Therefore, interest expenses related to this project will be directly accounted for in business expenses in 2024. This leads to no longer being as the audit opinion in the consolidated financial statements for 2023.
Regarding the parent company's after-tax profit in the audited report for the last 2 years, it is a negative number. The company is still focusing all resources to complete the 2024 production and business plan, striving to achieve profitable results this year.
In the first 6 months of 2024, LEC achieved revenue of 31.4 billion VND, down more than half compared to 70.3 billion VND in the same period. After-tax loss was 9.7 billion VND, while in the same period last year, it lost more than 14.6 billion VND.
Compared to the revenue plan of VND 508 billion (4 times higher than the target in 2023) and after-tax profit of more than VND 8 billion, the company only completed 6.2% of the revenue target and is still far from the profit plan after half a year.
On the stock exchange, LEC shares are currently priced at VND6,200. This stock has fallen 8% from its highest level this year (VND6,730). The matched volume in recent sessions has been less than 1,000 shares, with a market capitalization of approximately VND162 billion.
Source: https://baodautu.vn/hose-dinh-chi-giao-dich-mot-loat-co-phieu-d224341.html
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