More stocks are being put under control and restricted from trading by HoSE

The three stocks that were transferred to the control list are DAG, SJF and PSH, all due to late submission of audit reports. Meanwhile, KPF shares will be restricted from trading from October 11, 2024.

PSH shares of Nam Song Hau Petroleum Investment and Trading Joint Stock Company will be transferred to control from October 11, 2024.

Ho Chi Minh City Stock Exchange (HoSE) has just announced a series of decisions on putting stocks under control and restricting trading.

In particular, Dong A Plastics Group Joint Stock Company (code DAG, HoSE), Sao Thai Duong Investment Joint Stock Company (code SJF, HoSE) and Nam Song Hau Petroleum Investment Trading Joint Stock Company (code PSH, HoSE) will be moved from warning status to control status from October 11, 2024. HoSE also announced the decision to move shares of Petro Mien Trung Investment and Production Joint Stock Company (code PMG, HoSE) from control status to warning status from October 8, 2024.

In addition, a stock with increased penalties is Koji Asset Investment Joint Stock Company (code KPF, HoSE floor) when it is transferred from controlled to restricted trading from October 11, 2024.

The reason why DAG, SJF and PSH stocks were changed from warning status to control status is also because the listed organization was 30 days late in submitting the audited semi-annual financial report for 2024 compared to the regulation. Meanwhile, with the delay in submitting the audited semi-annual financial report for 2024 more than 45 days compared to the regulation, KPF stocks will be restricted from trading and can only be traded in the afternoon session by centralized order matching and negotiation methods from October 11.

Previously, on September 19, 2024, HoSE announced that KPF shares would be placed under control. On September 24, Koji Asset Investment reported on the explanation, measures and roadmap to overcome the situation of securities being under control.

According to KPF's report, on August 13, the company sent an official dispatch to the State Securities Commission and HoSE explaining the late submission of the 2024 semi-annual audit report. On September 10, the company received a business registration certificate issued by the Ho Chi Minh City Department of Planning and Investment. The company has signed with the auditing unit. Currently, the auditing unit is conducting the audit and is expected to have the 2024 semi-annual financial report no later than October 31, 2024.

PMG shares are a case of being transferred to a more positive group, from control to warning because the after-tax profit of the parent company's shareholders on the audited consolidated financial statements for the first half of 2024 is VND 10.5 billion, the undistributed after-tax profit as of June 30, 2024 is negative VND 63.3 billion (accumulated loss).

Previously, HoSE transferred PMG shares from warning status to control status from April 18, 2022. The reason is that the parent company's after-tax profit in 2020 was negative VND 22.01 billion and the parent company's after-tax profit in 2021 was negative VND 61.68 billion based on the audited consolidated financial statements in 2021.

In recent months, many listed companies have been restricted from trading or even suspended from trading due to information disclosure activities. Last month, HoSE decided to transfer ITA shares of Tan Tao Investment and Industry Joint Stock Company from restricted trading to suspended trading from September 26. The reason is that Tan Tao violated information disclosure regulations by not yet publishing the audited financial statements for 2023, the annual report for 2023 and the semi-annual audited financial statements for 2024.

Delays in financial reporting are directly affecting the interests of shareholders. Not only does it affect the ability to grasp information about the business, the move to postpone the announcement schedule in many cases is an early warning signal of instability in business operations.

A typical example is the recent case of Loc Troi Group Joint Stock Company. Previously, at the end of July, Loc Troi requested to postpone the submission of the second quarter report until August 310 to focus on handling financial issues. Then, the group once again requested to postpone with the reason that "all personnel must focus on handling immediate financial issues".

This year's annual general meeting of shareholders of Loc Troi was also held later than previous years, and there were changes in key personnel. In mid-July 2024, Loc Troi announced the dismissal of Mr. Nguyen Duy Thuan from the position of General Director.

Mr. Huynh Van Thon, Chairman of the Board of Directors of Loc Troi, temporarily manages the company's operations until a new General Director is appointed. Most recently, in early October, Loc Troi sent a dispatch to the People's Committee of An Giang Province requesting measures to prevent former CEO Nguyen Duy Thuan.

Source: https://baodautu.vn/them-loat-co-phieu-bi-hose-chuyen-sang-dien-kiem-soat-han-che-giao-dich-d226739.html