Shares of a real estate giant plummeted as rumors spread across online groups.

Investors need to calmly verify unofficial information circulating online – Photo: QUANG DINH

Stocks plummet after rumors

According to Tuoi Tre Online , rumors are circulating on many forums and stock market "rooms" about the Securities Commission investigating TCH shares of Hoang Huy Financial Services Investment Joint Stock Company for trading activities during the period of 2021-2022.

This information is believed to be the "cause" behind TCH shares experiencing a sharp drop on August 9th, with the volume of sell orders at the floor price at one point reaching nearly 14 million units.

Subsequently, the Securities Commission issued a statement explaining that this was a routine inspection conducted in accordance with regulations for listed companies.

Nevertheless, in this morning's trading session (August 9th), TCH continued to fall by more than 3%, to 16,100 VND/share. The positive point that "saved" the situation was that the accumulated sell orders until this morning were almost completely absorbed.

Nevertheless, TCH's market capitalization has "evaporated" by more than 1,000 billion VND after the information spread across various online groups. The losses for shareholders holding this stock are significant.

Besides TCH, HHS of Hoang Huy Investment and Service Joint Stock Company also fell by nearly 4.2% by the end of this morning's session after hitting the floor limit yesterday.

Notably, this is not the first time that leaked internal documents have been circulated on social media and online groups, causing investors to rush to sell off their shares.

Speaking to Tuoi Tre Online , a securities expert advised investors to calmly verify unofficial information circulating online.

Meanwhile, stockbrokers are also wary of the spread of unofficial, "edited" texts and information used for various purposes.

If these rumors impact stock prices, in addition to tracking down those who intentionally manipulate or leak insider information, those spreading the rumors also bear some responsibility for contributing to either inflating or depressing stock prices.

Regarding TCH, Tuoi Tre Online contacted them, but the company's media department stated that they had not yet released any information related to the incident.

Who is the owner of the Hoang Huy ecosystem?

Over the past year, TCH shares have increased by nearly 35%. From a price of over 12,000 VND, TCH at one point reached over 20,000 VND per share, before falling back to its current level of over 16,000 VND.

According to the recently published corporate governance report for the first six months of 2024, Mr. Do Huu Ha holds over 262 million TCH shares – equivalent to 39.23% of TCH's capital. In other words, Mr. Ha owns assets worth approximately over 4,200 billion VND.

Of Mr. Ha's three sons, Do Huu Hau, Do Huu Huy, and Do Huu Hung, only Mr. Hung holds more than 2.5 million shares, while the other two do not own any shares in TCH.

According to its annual report, TCH has a registered capital of over 6,682 billion VND and its headquarters are located in Hai Phong City. Initially, the company primarily served as the exclusive distributor of Navistar tractor trucks from the United States. It later gained more prominence through its involvement in real estate projects such as the 33-story Gold Tower and many other projects in Hai Phong.

Currently, Mr. Ha also holds the position of Chairman of the Board of Directors of Hoang Huy Investment and Service Joint Stock Company (stock code: HHS).

Regarding business performance, TCH's revenue and after-tax profit in the second quarter of this year reached VND 828 billion and VND 229 billion respectively, an increase of 162% and 35% compared to the same period last year. Meanwhile, HHS's revenue reached VND 104 billion in the second quarter, and after-tax profit reached VND 108 billion, both increasing by approximately 68%.

Source: https://tuoitre.vn/co-phieu-mot-dai-gia-bat-dong-san-lao-doc-khi-tin-don-lan-khap-hoi-nhom-2024080913000764.htm