Gilimex (GIL) was reminded for late submission of second quarter financial report

VHO - Ho Chi Minh City Stock Exchange (HOSE) has reminded about the delay in announcing the second quarter financial report of Binh Thanh Import-Export Production and Trading Joint Stock Company (Gilimex, stock code: GIL).

HOSE has reminded Gilimex to delay the announcement of its second quarter financial report. Illustrative photo

Specifically, on August 7, the Ho Chi Minh City Stock Exchange reminded Gilimex to delay submitting the Q2.2025 Financial Report and as of August 13, HOSE had not yet received the report.

In particular, according to regulations, in case a stock listing organization or a large-scale public company is the parent company of another organization or is a superior accounting unit with a subordinate accounting unit with its own accounting apparatus, it must publish quarterly financial statements within 30 days from the end of the quarter.

It is known that the Financial Report for the second quarter of 2025 ends on June 30, 2025, so the final announcement deadline is the end of July 2025.

“HOSE reminds for the second time about the delay in disclosing information on the Company's Financial Statements and Consolidated Financial Statements for the second quarter of 2025 and requests Gilimex to promptly disclose information according to regulations and provide a written explanation for the delay in disclosing information,” HOSE emphasized in the second reminder.

The delay in announcing the second quarter financial statements comes as Gilimex's business operations are facing many challenges. According to the most recent financial report for the first quarter of 2025, the company recorded net revenue of VND126.02 billion, down 43.1% compared to the same period last year. Profit after tax was only VND2.1 billion, down 70.9%.

Gross profit margin in the first quarter of 2025 also narrowed from 21.3% in the same period last year to 18.1%, showing declining business performance.

At the 2025 Annual General Meeting of Shareholders, Gilimex set a business plan with a revenue target of VND 1,200 billion and a profit after tax of VND 150 billion. With a profit of only VND 2.1 billion after the first quarter, the company has only completed 1.4% of the annual profit target. This creates a lot of pressure on business activities in the remaining quarters of 2025.

The decline in Gilimex's business results partly comes from the difficulties of traditional garment production and processing, especially after terminating cooperation with major partner Amazon.

Currently, the company is in the process of converting its business model to the industrial real estate sector, but these projects are still in the investment phase and have not yet generated significant revenue.

Source: https://baovanhoa.vn/kinh-te/gilimex-gil-bi-nhac-nho-vi-cham-nop-bao-cao-tai-chinh-quy-ii-161463.html