DNVN - Ho Chi Minh City Stock Exchange (HoSE) has issued an official dispatch reminding HUD1 Investment and Construction Joint Stock Company (stock code: HU1) to delay in disclosing information on the Board of Directors' Resolution.
Ho Chi Minh City Stock Exchange (HoSE) said that on October 4, it received Resolution of the Board of Directors (BOD) No. 166 dated January 3, 2024 of HUD1 approving transactions between the company and related parties in 2024 and HoSE has published information on this resolution.
Pursuant to Circular 96 of the Ministry of Finance guiding information disclosure on the stock market, HoSE reminds HUD1 to seriously fulfill its reporting and information disclosure obligations in accordance with regulations to ensure shareholders' rights.
Previously, on August 28, HUD1 issued a document explaining the audit opinion except in the reviewed consolidated interim financial statements for the accounting period ending June 30, 2024.
HUD1 headquarters is located at 168 Giai Phong Street, Thanh Xuan, Hanoi.
According to HUD1, as of June 30, 2024, the auditing company has not yet collected sufficient evidence to assess and determine the impact of the unfinished production and business costs of works and projects with unchanged balances over many years with a value on the consolidated report of VND 47.7 billion. Currently, HUD1 and its subsidiaries are still working hard with investors to proceed with the settlement of the works.
In addition, the auditing company has not yet collected sufficient appropriate evidence on customer receivables with the amount on the consolidated report being 6.8 billion VND, other receivables being more than 1 billion VND.
Currently, all debt reconciliation reports of receivables and payables of HUD1 and its subsidiaries have been sent to customers who incurred debts and are in the process of data reconciliation.
As of June 30, 2024, the auditing firm has not yet collected sufficient appropriate audit evidence related to the Board of Directors' assessment of the decline in investment in Dai Thien Loc Company Limited with an original value of VND 13 billion, so the auditing firm cannot determine whether it is necessary to adjust this figure or not.
Currently, HUD1 has received a debt confirmation letter and plans to transfer the business cooperation with Dai Thien Loc Company Limited to another unit in 2024.
Regarding business situation, HUD1's after-tax profit in the first 6 months of the year was 132.2 million VND, a slight increase of 12.5% over the same period last year.
According to HUD1's explanation, in the first half of this year, the difficulties of the real estate market in general and construction activities in particular continued, so the company's employment during this period continued to decline and efficiency was not high.
Furthermore, due to the decrease in the number of employees of the subsidiary, the business expenses in the first 6 months of the year decreased compared to the same period last year.
“This is the main reason why the after-tax profit target for the first half of 2024 increased slightly compared to the same period last year,” HUD1 stated.
HUD1 Investment and Construction Joint Stock Company, a subsidiary of the Housing and Urban Development Investment Corporation, was converted from a state-owned enterprise into a joint stock company. The company operates mainly in the fields of real estate business, construction and installation, and construction design and supervision consulting.
From November 3, 2011, HUD1 shares were officially traded on HoSE with the stock symbol HU1.
Regarding this stock, on September 4, HoSE announced to maintain the warning status for HU1 stock according to Decision 221 dated April 17, 2024 of HoSE General Director. The reason is that HUD1 has an audit exception opinion for the audited consolidated financial statements for the 2024 semi-annual review, the stock does not meet the regulations in the Regulations on listing and trading of listed securities.
Currently, Mr. Duong Tat Khiem holds the position of Chairman of the Board of Directors, Mr. Le Thanh Hai is a member of the Board of Directors and General Director of HUD1 for the 2022-2026 term.
Thu An
Source: https://doanhnghiepvn.vn/kinh-te/chung-khoan/hud1-bi-nhac-nho-vi-cham-cong-bo-thong-tin/20241009040433562
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