The information that Truong Thanh Wood must disclose according to regulations is that the account is frozen. According to a document from HoSE, on October 1, HoSE received information from Truong Thanh Wood about the account being frozen according to the decision of the People's Court of Tan Uyen City, Binh Duong Province, due to a dispute over a goods purchase contract. According to regulations, public companies must disclose unusual information within 24 hours from the time the incident occurs.

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Truong Thanh Wood is still in a challenging phase. Photo: TTF

HoSE reminded Truong Thanh Wood to seriously fulfill its reporting and information disclosure obligations as prescribed to ensure shareholders' rights, and to issue an explanatory letter.

Previously, Truong Thanh Wood was also reminded due to the delay in announcing information explaining the difference in after-tax profit in the 2024 semi-annual audited financial report.

In terms of business activities, Truong Thanh Wood recorded revenue of VND 699.24 billion in the first 6 months of the year, the parent company's after-tax profit continued to be negative VND 5.45 billion. Accumulated losses amounted to VND 3,241.33 billion and were equal to 78.8% of charter capital.

TTF used to be the leading wood company in the industry and collapsed under the leadership of Vo Truong Thanh and his son in the middle of the last decade. The company was heavily in debt and TTF's stock price later fell below VND2,000/share.

In early 2022, the one-time leading giant in the field of wooden furniture also made a new step forward after restructuring. Under the new owner Mai Huu Tin, Truong Thanh Wood made bold moves to penetrate foreign markets.

Mr. Mai Huu Tin has quite a big ambition, planning the next 10 years as a decade of leapfrogging, making Truong Thanh Wood become the leading wood enterprise in ASEAN in terms of technology, output, revenue, especially in the wooden furniture market.

Closing the trading session on October 8, TTF shares closed at VND 3,110/share.