The Hanoi Stock Exchange (HNX) has recently added 9 more enterprises on the stock exchange to the list of companies that will be cut off from margin trading from September 6-8, 2023.
The list of 9 stock codes includes: SDG, DDG, ICG, AAV, DST, GME, DVG, QTC and SPC. If including these 9 codes, there are currently 101 codes in the list of stocks not allowed for margin trading on HNX.
9 more companies added to the list of margin cuts (Photo TL)
Notably, the SDG code of Sadico Can Tho Joint Stock Company is noteworthy. The audited semi-annual financial statements of this unit recorded a loss after tax of 34.1 billion VND.
Next is Dong Duong Import-Export Industrial Investment Joint Stock Company with the code DDG. This unit reported a large loss in the second quarter of 193.5 billion VND, causing the accumulated profit in the first 6 months of 2023 to be negative. In addition, the accumulated undistributed profit on the financial statements up to the second quarter of this unit is also negative.
The remaining units in the list of 9 companies that have had new margin transactions cut off since September 6 include: Song Hong Construction Corporation (ICG); AAV Group Corporation (AAV); Sao Thang Long Investment Corporation (DST); G-Automobile Corporation (GMA); Dai Viet Group Corporation (DVG); Quang Nam Transport Construction Corporation (QTC); Saigon Plant Protection Corporation (SPC). The main reason is that the parent company's after-tax profit after the first 6 months of the year was negative.
The margin cut will greatly affect the trading volume of the above units. However, this is also a move by the Stock Exchange to protect investors from stocks with increasing risks.
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