PIT and PTC stocks remain on warning status

Recently, the Ho Chi Minh City Stock Exchange (HoSE) has decided to maintain the warning status for two companies, Petrolimex Import-Export Joint Stock Company (HoSE: PIT) and iCapital Investment Joint Stock Company (HoSE: PTC).

Specifically, the undistributed profit after tax (PAT) in the 2023 semi-annual audited consolidated financial statements of Petrolimex Import-Export is -21.07 billion VND. The undistributed profit after tax based on the 2023 semi-annual audited financial statements of iCapital Investment is -20.82 billion VND. Both are negative numbers.

According to information from HoSE, Petrolimex Import Export's PIT stock has been under control since 2016. Since 2014, this company has continuously reported negative after-tax profits in its financial statements.

By 2020, HoSE issued Decision No. 480 on transferring PIT shares from control status to warning status from August 24, 2020 and maintaining the warning status until now.

In the first 6 months of 2023, Petrolimex Import-Export recorded net revenue of VND 269.6 billion, down 375% compared to the same period in 2022. Gross profit from sales and service provision was VND 23.9 billion, down 37% compared to the first 6 months of 2022. As of June 30, 2023, the company's total assets were VND 249.7 billion, a slight increase compared to the beginning of the year.

Regarding iCapital's PTC stock, the stock was put on warning status by HoSE from April 14, 2023 because the after-tax profit in the 2022 audited consolidated financial statement was negative.

Previously, on July 11, 2022, this company's shares were removed from control due to recording after-tax profit in 2021 of VND 57.4 billion and undistributed after-tax profit as of December 31, 2021 of VND 87.46 billion.

Financial overview, in the first 6 months of 2023, iCapital recorded net revenue of 51.6 billion VND, 2 times higher than net revenue in the same period of 2022. The company's gross profit from sales and service provision was 26.4 billion VND, double that of the first 6 months of 2022. Total assets of the enterprise as of June 30, 2023 were 1,178 billion VND .

Thu Huong

Source