DRH stock out of warning list

DRH shares were removed from the warning list thanks to the successful organization of the annual meeting a week ago, but are still subject to trading suspension.

The Ho Chi Minh City Stock Exchange (HoSE) has just removed the shares of DRH Holdings Joint Stock Company (stock code DRH) from the warning list from today (November 13). HoSE said that DRH successfully held the 2024 Annual General Meeting of Shareholders on November 5, thereby overcoming the cause that led to the stock being put on the warning list.

DRH shares have been put on warning status since September 19, 2024 because the auditors have given an exception opinion on the 2023 audited financial statements of the listed organization, which is a case of securities being warned.

Despite being removed from the warning list, DRH shares are still subject to trading suspension. Previously, DRH was suspended from trading since September 16 due to continuing to violate information disclosure regulations while under trading restrictions.

The company said that due to the delay in submitting the 2023 audited financial report, DRH Holdings could not complete the 2023 annual report on time and organize the annual general meeting of shareholders in accordance with regulations.

Responding to shareholders' questions at the annual general meeting held a week ago, the Board of Directors said that the company has completed 80% of the roadmap to overcome the delay in submitting the 2023 audited financial report, 2023 annual report and 2024 semi-annual reviewed financial report. After the meeting, the company plans to complete the semi-annual financial report and disclose information according to regulations.

According to its independent financial report, in the third quarter of 2024, DRH Holdings achieved net revenue of just over VND 671 million, down 71% year-on-year. Cost of goods sold was about VND 1.5 billion, far exceeding revenue, causing the company to suffer a gross loss of VND 797 million.

Financial expenses increased by 70% to VND37.5 billion and were the main reason for the company's after-tax loss doubling last year, to approximately VND32 billion.

In the first 9 months, DRH Holdings recorded nearly VND2.2 billion in net revenue, down 72% compared to the same period last year. Pre-tax and post-tax losses were approximately VND78 billion and approximately VND80 billion, respectively.

This year, the Board of Directors set a revenue target of VND60 billion (an increase of 33% compared to 2023) and pre-tax profit of VND5 billion. After the first 3 quarters of the year, the company has only completed 4% of the revenue plan.

As of the end of the third quarter of 2024, the company's total assets were over VND 3,965 billion, an insignificant difference compared to the beginning of the year. Short-term receivables accounted for over VND 1,555 billion in the company's asset structure. Liabilities were over VND 2,535 billion, a slight increase compared to the beginning of the period and were mostly short-term items. Owner's equity was over VND 1,430 billion, undistributed profit after tax was approximately VND 43 billion.

On the stock exchange, DRH shares have been trading at VND1,900 since trading was restricted. Market capitalization is over VND235 billion.

Source: https://baodautu.vn/co-phieu-drh-ra-khoi-dien-canh-bao-d229902.html