DNVN - The negative 36 billion VND profit after tax on the 2024 semi-annual financial report is the reason why NT2 shares of Nhon Trach 2 Petroleum Power Joint Stock Company were listed by HoSE as securities ineligible for margin trading (margin cut).
Ho Chi Minh City Stock Exchange (HoSE) has just added NT2 shares of Nhon Trach 2 Petroleum Power Joint Stock Company to the list of securities ineligible for margin trading (margin cut).
According to HoSE, NT2's margin was cut because the after-tax profit on the audited financial report for the 2024 semi-annual period was negative.
NT2's audited interim financial report for the six-month period ending June 30, 2024 shows that revenue in the first half of this year only reached VND2,557 billion, down 41.9% over the same period last year.
After deducting expenses, NT2's pre-tax profit was negative VND36 billion, down 108.9% compared to the first 6 months of last year; after-tax profit was negative VND36 billion, down 109.5% compared to the first half of 2023.
Explaining this result, NT2 said it was mainly due to fluctuations in some indicators.
In the first 6 months of 2024, NT2's after-tax profit was negative 36 billion VND, down 109.5% compared to the first half of 2023.
Specifically, gross profit from electricity production in the first 6 months of this year decreased by VND 509.8 billion, equivalent to a decrease of 123.2% compared to the first 6 months of 2023. The main reason is that in the first half of this year, electricity output only reached 1,177.9 million kWh, while electricity output in the same period in 2023 reached 2,128.8 million kWh. Electricity production revenue decreased by VND 1,917 billion, equivalent to a decrease of 43.9%; cost of goods sold decreased by more than VND 1,407 billion, equivalent to a decrease of 35.6% compared to the first 6 months of 2023.
Revenue and cost of goods sold both decreased, but revenue from electricity production decreased more than cost of goods sold, leading to a decrease in gross profit from electricity production in the first 6 months of this year compared to the same period last year.
Profit from financial activities in the first 6 months of this year decreased by 5.5 billion VND compared to the first half of last year.
Business management costs in the first 6 months of 2024 decreased by VND 4.7 billion, equivalent to a decrease of 12.3% compared to the first 6 months of 2023.
In addition, profit from other activities in the first 6 months of the year decreased by 71.2 billion VND compared to the same period last year.
The main reason is the long-term equipment maintenance contract between the Company and the Siemens AG/Siemens Ltd. Vietnam Joint Venture. In the first 6 months of this year, this cooperation has completed the settlement and recorded an increase in the value of ISP spare material inventory, i.e. the value of remaining unused materials after the maintenance process with a total amount of VND 70,294,128,000. At the same time, other income was also recorded to increase with a corresponding value.
In 2024, Nhon Trach 2 Power Plant aims to bring in VND6,340 billion in revenue and VND68 billion in profit after tax, lower than the levels of VND6,386 billion and VND473 billion achieved in the previous year.
With the addition of NT2, as of August 12, 2024, the list of stocks ineligible for margin trading on HoSE currently includes 79 stocks. The reasons for HOSE to cut margin include securities under warning/control/restricted trading; negative after-tax profit, audit report with auditor's opinion; listing time less than 6 months... Among them, there are familiar businesses such as Petrolimex, Moc Chau, Nam Song Hau Oil and Gas, Nha Thu Duc, Truong Thanh Wood, Viettel Post... |
Thu An
Source: https://doanhnghiepvn.vn/kinh-te/chung-khoan/lo-ban-nien-co-phieu-nt2-bi-cat-margin/20240813034612891
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