DNVN - According to a decision recently issued by the Ho Chi Minh City Stock Exchange, AGM shares of An Giang Import-Export Joint Stock Company (ANGIMEX) will be placed under control from September 10, 2024.
According to Decision 504 of the Ho Chi Minh City Stock Exchange, AGM shares of An Giang Import-Export Joint Stock Company were placed under control due to accumulated losses exceeding the actual contributed charter capital in the audited consolidated semi-annual financial statement for 2024, falling under the category of securities subject to control as stipulated.
AGM shares remain under control according to Decision No. 129 dated March 29, 2024, due to a net loss after tax of VND 98.3 billion and a net loss after tax of VND 264.2 billion, based on the audited consolidated semi-annual financial statement for 2024. The shares do not meet the requirements of point b, clause 4, Article 38 of the Regulations on Listing and Trading of Listed Securities.
AGM shares remain under warning status according to Decision No. 128 dated March 29th by HoSE, due to the auditing firm issuing a qualified control opinion on the listed company's audited financial statements for 2023. This falls under the category of securities subject to warning as stipulated in point c, clause 1, Article 37 of the Regulations on Listing and Trading of Listed Securities.
AGM shares are also subject to control under Decision No. 466 dated August 2, 2024, of HoSE because the equity is negative in the most recent consolidated financial statement, excluding the audited annual financial statement, falling under the category of securities subject to control as stipulated.
ANGIMEX operates in the fields of food, agricultural supplies, and trade services.
According to An Giang's consolidated interim business results report for the six-month financial period ending June 30, 2024, the after-tax profit for the first six months of this year was a negative 98.3 billion VND - a sharp decrease compared to the negative 54.6 billion VND recorded in the same period of 2023.
As of June 30, 2024, the Group had accumulated losses of VND 264.2 billion exceeding its equity of VND 82.2 billion. Short-term liabilities also exceeded short-term assets by VND 931.9 billion. These conditions indicate significant uncertainties that may cast considerable doubt on the Group's ability to continue as a going concern. The Group's ability to continue as a going concern depends on its ability to operate profitably in the future. Therefore, the financial statements for the six-month period ended June 30 are still prepared on the assumption that the Group will continue as a going concern for the next 12 months.
On August 28th, An Giang submitted a report explaining the difference in after-tax profit for the first six months of 2024 (audited) compared to the first six months of 2023 (audited) to the State Securities Commission and the Ho Chi Minh City Stock Exchange.
Regarding the audited semi-annual financial statements for 2024: In the first half of this year, the company recorded a revenue decrease of VND 4,585 million, a 7% decrease compared to the same period last year. Increased financial expenses and provisions compared to the same period last year are the main reasons for the higher losses incurred by the company in the first six months of 2024 compared to the same period last year.
The company's after-tax profit for the first six months of 2024, as reported in its separate financial statements, was a negative VND 62.9 billion, a decrease of 138% compared to the same period in 2023.
Regarding the audited consolidated semi-annual financial report for 2024: In the first six months of this year, consolidated net revenue decreased by VND 170,731 million, a 53% decrease compared to the same period last year, due to the company no longer recording consolidated revenue from divested subsidiaries. Similar to the separate financial expense report, the increase in provisions for financial expenses compared to the same period last year is the main reason for the higher loss in the first half of 2024 compared to the same period last year.
According to the consolidated financial report, net profit after tax for the first six months of 2024 was a negative VND 98.3 billion, a decrease of 70% compared to the same period last year.
According to the introduction, An Giang Import-Export Joint Stock Company was formerly An Giang Foreign Trade Company, established in 1976. In 2007, the company officially transformed into a Joint Stock Company.
According to its business registration certificate, ANGIMEX's charter capital is 182 billion VND, comprising 18.2 million shares. The company specializes in rice milling and raw flour production; rice polishing and export; trading in food and agricultural products; trading in motorcycles and spare parts; fertilizer production and trading in agricultural chemicals.
Currently, Mr. Le Tien Thinh holds the position of Chairman of the Board of Directors. Mr. Huynh Thanh Tung serves as the General Director. The positions of Deputy General Director are held by Mr. Bui Viet Dung and Ms. Nguyen Thi Thu Hoa.
Thu An
Source: https://doanhnghiepvn.vn/kinh-te/chung-khoan/co-phieu-agm-cua-ctcp-xuat-nhap-khau-an-giang-bi-kiem-soat-tu-ngay-10-9/20240903032954743
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