The State Securities Commission (SSC) has just issued Decision No. 60 million VND to impose an administrative penalty on Ms. Luu Hai Hoa, residing at 91 Kham Duc, Trung Phung Ward, Dong Da District, Hanoi City, for failing to report her ownership of 5% or more of the voting shares of a public company.
Accordingly, on October 17, 2023, Ms. Luu Hai Hoa purchased 1,500 shares of Vicem Hai Phong Packaging JSC (HNX: BXH), resulting in the share ownership ratio after the transaction increasing from 4.98% to 5.03%; however, the Hanoi Stock Exchange did not receive a report that Ms. Luu Hai Hoa became a major shareholder.
Vicem Hai Phong Packaging Joint Stock Company was formerly Hai Phong Cement Packaging Enterprise (under Hai Phong Cement Company). The main business of Vicem Hai Phong Packaging is the production and trading of cement packaging and other types of packaging; production of raw materials for the packaging industry.
Regarding business performance, at the end of the first quarter of 2024, Vicem Hai Phong Packaging recorded a 59% decrease in net revenue compared to the same period last year to more than 25.9 billion VND. The company's gross profit decreased by 2 times from 6.8 billion VND to nearly 3.2 billion VND.
Stock price movements in the last 6 months.
During the period, the company's financial revenue recorded a loss of more than VND51 million, while in the same period it made a profit of more than VND3 million. In addition to increased financial costs, the company has reduced sales costs and business management costs. In particular, business management costs were reduced from VND5.5 billion last year to VND2.8 billion.
However, Vicem Hai Phong Packaging still reported a pre-tax profit of only VND63.1 million; after-tax profit reached VND50.5 million, down 87.1% compared to the same period last year.
According to the financial report, Vicem Hai Phong Packaging said that the reason for the difference in after-tax profit was that in the first quarter, the consumption of packaging decreased by 59.22% due to the sharp decline in the domestic cement market, supply continued to exceed demand leading to increasingly fierce competition, the export cement market switched to using new types of packaging leading to a 49.02% decrease in revenue, so profits also decreased compared to the same period.
On the stock market, in the morning trading session on July 10, BXH stock price increased by 10% compared to the previous session at VND19,800/share, with a trading volume of 6,750 units. In the past month, BXH stock has increased by 23.75% from VND16,000/share to VND19,800/share with an average trading volume of 7,843 shares/day.
Source: https://www.nguoiduatin.vn/khong-bao-cao-tro-thanh-co-dong-lon-mot-ca-nhan-bi-phat-60-trieu-dong-204240710143110803.htm
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