Sao Thai Duong hopes that HoSE will "consider carefully before deciding to delist SJF shares because it may directly affect the interests of more than 6,600 shareholders and employees."
Sao Thai Duong wants HoSE to consider the decision to delist shares
Sao Thai Duong hopes that HoSE will "consider carefully before deciding to delist SJF shares because it may directly affect the interests of more than 6,600 shareholders and employees."
Sao Thai Duong Investment Joint Stock Company (stock code: SJF) has just sent an official dispatch to the Ho Chi Minh City Stock Exchange (HoSE) to respond to the issue of SJF shares being forced to be delisted.
Previously, HoSE announced that it would consider delisting SJF shares but did not set a date. The reason given was that since the trading suspension, the company's information disclosure violations have continued to occur and are likely to continue, seriously violating the information disclosure obligation and affecting the rights of shareholders.
Specifically, SJF has been under control since October 11 because the auditing organization has an exceptional audit opinion on the audited annual financial statements for 2 consecutive years (2022, 2023), the after-tax profit of the parent company's shareholders on the audited consolidated financial statements for 2022 and 2023 is negative and the audited semi-annual financial statements for 2024 are 30 days late compared to the prescribed deadline.
In a recent document, Mr. Nguyen Tri Thien - Chairman of Sao Thai Duong Board of Directors - said that the company is focusing on collecting and providing documents as required by the auditors to review the semi-annual report. However, Mr. Thien said that the volume of documents is relatively large and the auditors need more time to study the documents, so the company requests an extension of the deadline for submitting the 2024 semi-annual financial report to November 8, 2024.
“The company hopes that HoSE will consider and weigh carefully before deciding to delist SJF shares because it will directly affect the interests of more than 6,600 shareholders and employees of the company,” Mr. Thien wrote in a document sent to HoSE.
On the stock exchange, SJF shares are at VND1,790 since being suspended from trading from November 13, 2023.
According to the self-prepared financial report, the company's accumulated net revenue for the first half of the year was VND34.5 billion, down 41% compared to the same period last year. Gross loss for this period was over VND5.6 billion, while the same period last year it was VND7.6 billion. After deducting expenses, the company reported a pre-tax loss of VND6.1 billion and a post-tax loss of VND8.2 billion.
This year, Sao Thai Duong set a revenue target of VND150 billion, up 36% over the same period. After-tax profit is estimated at VND10 billion, while last year it lost VND326 billion. After half a year, the company has completed 23% of its revenue plan and is still far from its profit target.
At the General Meeting of Shareholders held at the end of June, the board of directors assessed that the business situation in the second half of the year would improve and the company could achieve better business results.
As of the end of the second quarter of 2024, Sao Thai Duong had total assets of nearly 765 billion VND, a slight increase compared to the beginning of the year. Liabilities were over 278 billion VND, short-term items accounted for the majority of the company's debt structure with over 260 billion VND. Owner's equity reached 486 billion VND, undistributed loss after tax was over 320 billion VND.
Source: https://baodautu.vn/sao-thai-duong-muon-hose-can-nhac-quyet-dinh-huy-niem-yet-co-phieu-d228403.html
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