DNVN - With poor business results, losses of thousands of billions of VND for 3 consecutive years from 2021 - 2023, HNG shares of Hoang Anh Gia Lai International Agriculture Joint Stock Company (HAGL Agrico) were delisted.
On July 26, the Ho Chi Minh City Stock Exchange (HoSE) issued a decision to compulsorily delist shares of Hoang Anh Gia Lai International Agriculture Joint Stock Company (HAGL Agrico, stock code: HNG) according to the provisions of Decree No. 155 of the Government.
According to HoSE's announcement, HAGL Agrico's HNG shares are currently under control securities under HoSE's Decision No. 158 dated April 5, 2023. The reason is that based on the audited consolidated financial statements for 2021 and 2022, the after-tax profit of the parent company's shareholders in these two years was negative VND 1,119 billion and negative VND 3,576 billion, respectively.
According to the audited consolidated financial statements of HAGL Agrico for 2021, 2022 and 2023, the after-tax profit of the parent company's shareholders in these 3 years was negative VND 1,119 billion, negative VND 3,576 billion and negative VND 1,098 billion, respectively.
HNG has been operating at a loss for three consecutive years from 2021-2023.
Currently, HNG shares are also under control. In May, in a notice explaining measures and roadmap to overcome the situation of controlled securities, HAGL Agrico said that the company recorded net revenue of VND94 billion in the first quarter of 2024, a loss after tax of VND47 billion, and accumulated loss up to March 31, 2024 of VND8,149 billion.
At the 2024 Annual General Meeting of Shareholders on May 4, the company approved the 2024 investment and production and business plan.
Accordingly, the company plans to plant more than 1,500 hectares of bananas; care for and exploit more than 6,300 hectares of rubber; invest in barns, pastures and import 5,800 cows. Net revenue is estimated at 694 billion VND, with a pre-tax loss of 120 billion VND.
HAGL Agrico has been approved by the Lao Government to invest in a large-scale fruit tree cultivation and cattle breeding project in Attapeu and Sekong provinces, Lao PDR. Estimated revenue from 2028 is estimated at VND 13,500 billion, with expected profit of VND 2,450 billion.
Currently, the company implements a large-scale agricultural production strategy on an organic basis, managing according to industrial methods throughout the value chain, applying mechanization, biotechnology and digitalization according to a suitable roadmap.
The predecessor of HAGL Agrico is Hoang Anh Gia Lai Rubber Joint Stock Company. The company is headquartered at 15 Truong Chinh Street, Phu Dong Ward, Pleiku City, Gia Lai Province. The main activities of HAGL Agrico and its subsidiaries are planting and trading fruit trees, rubber and other crops; raising and trading beef and dairy cattle; producing and trading breeds; providing planting services and related materials; building houses of all kinds; constructing industrial and civil works.
HAGL Agrico has been going through a long period of difficulty, having to bear a lot of debt. While the livestock sector has not brought great results, the fruit and rubber sectors have been struggling continuously.
Thu An
Source: https://doanhnghiepvn.vn/kinh-te/chung-khoan/kinh-doanh-bet-bat-3-nam-lien-co-phieu-hng-bi-huy-niem-yet-bat-buoc/20240727045406777
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