VNG shares, the most expensive on the stock exchange, escape trading restrictions

VNG shares (stock code VNZ) have been removed from the trading restriction list after the company submitted its audited 2022 financial statements to the Hanoi Stock Exchange as required. Previously, the delay of more than 45 days in submitting the audited 2022 financial statements was the reason why this most expensive stock on the exchange was placed under trading restrictions from May 25th.

VNG shares resumed normal trading from June 5th.

According to the audited financial report for 2022, VNG's after-tax profit decreased by an additional VND 219 billion compared to the self-prepared report, resulting in a net loss of VND 1,534 billion for the entire year of 2022. The company explained that the increased net loss was due to VNG recording additional expenses related to taxes, intangible fixed assets, and provisions for financial investment activities.

The company also reported its Q1 2023 business results with revenue reaching VND 1,853 billion, an 11% increase compared to the same period last year, but still incurred a net loss of VND 90 billion. This loss in the first quarter of this year was lower than the loss of over VND 130 billion in the same period last year. The majority of the loss stemmed from the company's continued high operating expenses, such as financial expenses of VND 8 billion, including interest expenses of over VND 4.7 billion (which were absent in Q1 2022); selling expenses of VND 544 billion; and administrative expenses of VND 337 billion...

During the period, VNG also reported a loss of VND 27.4 billion from its associated companies, compared to a loss of just over VND 7.6 billion in the same period last year. Specifically, the company incurred a loss of over VND 9 billion from its investment in Telio - a unit established in 2019 operating in the e-commerce sector; and a loss of VND 12 billion from its associated company Funding Asia - headquartered in Singapore... In addition, the loss from Tiki in the first three months of this year was no longer recorded after reporting a loss on the entire investment of over VND 510 billion by the end of 2022.

On the market, VNZ shares are currently priced at 771,900 VND and remain the highest-priced stock on the exchange. However, compared to its peak of over 1.5 million VND in mid-February, the stock has fallen by nearly 50%.

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