HoSE is about to delist APC shares

HoSE has just issued a document stating that it will delist APC shares of An Phu Irradiation Joint Stock Company because the company has just reported a loss after tax for the third consecutive year.

Ho Chi Minh City Stock Exchange (HoSE) has just sent a document to An Phu Irradiation Joint Stock Company to notify about the compulsory delisting of APC shares. The reason for the delisting is that the company's production and business results have been losing money for 3 consecutive years.

Previously, in mid-January 2024, when An Phu Irradiation announced its financial report for the last quarter of 2023 with an accumulated loss for the whole year of VND 35 billion, HoSE also issued a document noting the delisting.

According to the company's financial report, in 2023, net revenue from sales and services reached approximately VND 118 billion, down from VND 135.7 billion the previous year. The company had a gross profit of VND 25.4 billion, but after deducting financial expenses, sales and business management expenses, it reported a net loss of VND 35.6 billion. This is the third consecutive year that the company has reported a loss with the loss getting worse. Previously, in 2021 and 2022, the company's after-tax loss was VND 1.6 billion and VND 9 billion, respectively.

In the document explaining business results sent to HoSE, An Phu Radiation's leaders did not analyze in detail the cause of the heavy loss but only said that this result came from a decrease in revenue while interest expenses increased by 22%.

On the stock exchange, APC shares are experiencing two consecutive sessions of decline, but the decline is not large. This stock closed the trading session on March 22 at VND7,870. With more than 20 million shares in circulation, the company's market capitalization is VND156 billion.

An Phuc Irradiation was established in 2003, operating mainly in the field of irradiation to sterilize aquatic products and preserve frozen fruits and vegetables. The company first traded on the stock exchange in 2010. The closing price of the first trading session was up to 39,000 VND. The golden period of this stock was around the end of 2017 when the market price reached 82,000 VND.

According to the most recent financial data released, the company has total assets of VND890 billion and liabilities of about VND300 billion. The company's equity is VND590 billion, of which undistributed profit after tax is more than VND260 billion.

Source