ANTD.VN - DAG shares of Dong A Plastics Group Corporation continue to be at risk of being forced to delist due to failure to comply with requirements after being suspended from trading.
Ho Chi Minh City Stock Exchange (HOSE) has just announced that it will consider compulsory delisting of DAG shares of Dong A Plastics Group Joint Stock Company.
The reason is that since the time of suspension of trading until now, Dong A Plastic's information disclosure violations have not been resolved, are likely to continue to occur and prolong, seriously violating the information disclosure obligation and affecting the rights of shareholders.
Previously, on August 8, HOSE decided to change DAG shares from restricted trading to suspended trading from August 15 due to continued violations of information disclosure regulations after being put on restricted trading list.
At the same time, DAG shares were also put on warning status from August 15 due to the audit organization's exception for the audited 2023 financial statements, as well as the undistributed profit as of December 31, 2023 according to the audited consolidated financial statements of 2023 being negative more than VND 588 billion...
Recently, HOSE continued to transfer DAG from warning status to control status since October 11 due to late submission of audited financial statements for the 2024 semi-annual period of more than 30 days compared to the prescribed deadline.
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Difficulties in production and business cause Dong A Plastic to continuously violate its information disclosure obligations. |
Explaining the above information disclosure violations, Dong A Plastics said that 2023 is a particularly difficult year for the business activities of plastics enterprises in general and Dong A Plastics and its subsidiaries in particular.
Operations were suspended, products were unsold, Chinese goods were competing heavily, and the Company's business scale had to be reduced. Goods were moving slowly, so the rate of inventory provisioning and consignment for sale increased.
In particular, the Company was forced to pay invoices, leading to increasingly difficult business situations.
Not only that, in recent times, the accounting department of the parent company and its subsidiaries has had some personnel changes, especially in the general accounting position.
Meanwhile, the replacement staff did not have enough time to grasp the entire work, and at the same time, the conversion to new accounting software and some technical problems occurred during the conversion of operational data, which affected the personnel work, data collection, synthesis and completion of financial reports on time according to regulations.
In the latest explanation, Dong A Plastics said that after completing the financial report, the Company will submit and publish the expected information in October 2024.
Recently, this enterprise has also undergone some important changes in its leadership. In early September, Dong A Plastics announced the dismissal of Mr. Tran Viet Thang from the position of Director and legal representative, and instead, Mr. Dinh Tuan Anh will be the successor from September 5, 2024.
Along with that, Mr. Pham The Hoang, Head of the Board of Supervisors, resigned on September 4, 2024 for personal reasons, Mr. Nguyen Quang Hung was elected to replace this position.
Regarding the financial situation, according to the semi-annual financial report, Dong A Plastic continued to record a loss of VND 66.6 billion in the first half of 2024, bringing the total accumulated loss up to June 30, 2024 to VND 640.99 billion.
Source: https://www.anninhthudo.vn/kho-khan-bua-vay-nhua-dong-a-dag-lai-doi-mat-nguy-co-huy-niem-yet-post592253.antd
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