Vietnam Airlines, HoiAntourist... face delisting

Ho Chi Minh City Stock Exchange (HOSE) recently sent a document to Vietnam Airlines Corporation - Joint Stock Company (Vietnam Airlines - HVN) noting the possibility of delisting shares. Specifically, the reason given by HOSE is that in Vietnam Airlines' 4th quarter 2022 financial report, the parent company's after-tax loss in 2022 was VND 10,452.6 billion. In addition, the accumulated loss of this unit as of December 30, 2022 was VND 34,199.5 billion, causing the national airline's equity to be negative VND 10,199.2 billion.

According to regulations, a company's shares can be delisted if its business results are loss-making for three consecutive years or if the total accumulated loss exceeds the actual contributed charter capital or the equity is negative. Thus, HOSE has warned Vietnam Airlines about the possibility of HVN shares being delisted if the 2022 audited consolidated financial statements continue to show negative after-tax profit of the parent company's shareholders or negative equity.

Vietnam Airlines warned of possible delisting on HOSE

Similarly, HOSE also warned Hoi An Tourism Service Joint Stock Company (HoiAntourist - HOT) about the possibility of being delisted. HoiAntourist Company has also been continuously losing money for the past 3 years. The company's net loss in 2022 was nearly 19 billion VND, increasing the accumulated loss to nearly 64.4 billion VND. If the audited 2022 financial report shows that the parent company's after-tax profit is negative, the stock will be delisted.

In a similar situation, MCG Energy and Real Estate Joint Stock Company (MCG) was also noted by HOSE as being subject to mandatory delisting if its business results are negative in the 2022 Consolidated Audited Financial Statements. In the Consolidated Financial Statements for the fourth quarter of 2022 announced by the company, the parent company's shareholders suffered a loss of VND 84 billion in 2022. In the previous 2 years, MCG had a net loss of VND 9 billion in 2020 and a net loss of VND 37 billion in 2021. Thus, MCG has suffered losses for 3 consecutive years.

Ba Ria-Vung Tau Urban Development and Construction Joint Stock Company (UDC) is also at risk of being delisted due to a business loss of more than VND 39.5 billion in 2022. Meanwhile, in the previous two consecutive years of 2020 and 2021, UDC also suffered losses of VND 10 billion and VND 23.43 billion, respectively. The total accumulated loss of this company by the end of 2022 was more than VND 72.2 billion.

Some enterprises listed on the Hanoi Stock Exchange (HNX) are also facing mandatory delisting because they have suffered losses for three consecutive years. Kim Vi Stainless Steel Production and Import-Export Joint Stock Company (KVC) has just reported a net loss of VND 12 billion in 2022. In 2020 and 2021, KVC lost VND 41 billion and VND 33 billion, respectively; Hoang Ha Joint Stock Company (HHG) and Lilama Mechanical Installation Joint Stock Company (L35)...

Source: https://thanhnien.vn/vietnam-airlines-hoiantourist-doi-dien-an-huy-niem-yet-185230209104054253.htm