HNX maintains restricted trading of a series of stocks on UPCoM floor

Recently, the Hanoi Stock Exchange (HNX) announced that it will maintain trading restrictions, allowing trading only on Fridays starting from October 5th for a number of stocks on the UPCoM market.

Firstly, DSC shares of Dai Chau Group Joint Stock Company are subject to restrictions due to the late submission of audited semi-annual financial statements exceeding 45 days from the deadline for publication as stipulated by regulations. Furthermore, the company also failed to submit its audited 2022 financial statements and reported that the auditing firm refused to give an opinion on the 2021 financial statements. Consequently, DSC shares remain restricted from trading, despite having been under warning since July 13th.

Similarly, KAC shares of Khang An Real Estate Investment Joint Stock Company have remained under trading restrictions since October 5, 2023, because the company has not held its annual general meeting of shareholders for the two most recent fiscal years within the maximum timeframe from the end of the fiscal year. In addition, KAC was also more than 45 days late in submitting its audited semi-annual financial statements for 2023 from the deadline for publication, and was also late in submitting its audited semi-annual financial statements for 2022 and its audited annual financial statements for 2022.

The HNX also placed GAB shares of FLC Investment, Mining & Asset Management JSC under trading restrictions from October 11th due to the company's delay in submitting its audited 2023 semi-annual financial statements for more than 45 days as required.

Finance - Banking - HNX maintains trading restrictions for a series of stocks on the UPCoM exchange. — Khang An Real Estate Investment Joint Stock Company maintains its trading restrictions effective from October 5, 2023.

Furthermore, the trading restrictions on PXC shares of PetroVietnam Urban Development Joint Stock Company will be maintained due to the company's late submission of the audited 2023 semi-annual financial statements, the auditor's refusal to give an opinion on the 2022 financial statements, and the company having negative equity in the audited 2022 financial statements, as stipulated in points a, b, and c, Clause 1, Article 34 of the Regulations on Registration and Management of Unlisted Securities Transactions issued with Decision No. 34 dated November 16, 2022, by the Board of Members of the Vietnam Stock Exchange.

Shares of PVA, the stock of Nghe An Petroleum Construction Corporation, also remain under trading restrictions due to the late submission of the audited 2023 semi-annual financial statements and the failure to hold the 2023 annual general meeting of shareholders.

In addition, the company has ceased its main production and business activities for one year or more; has negative equity in the audited financial statements for 2020; the auditing firm refused to give an opinion on the 2020 financial statements; and has submitted the reviewed semi-annual financial statements for 2021 and 2022 and the audited financial statements for 2021 and 2022 by more than 45 days as required.

In addition, the Hanoi Stock Exchange also maintains trading restrictions on CLG shares of Cotec Real Estate Investment and Development Joint Stock Company, AVF shares of Viet An Joint Stock Company, DPS shares of Soc Son Investment and Development Joint Stock Company; HVG shares of Hung Vuong Construction Joint Stock Company; HDO shares of Hung Dao Container Joint Stock Company; PX1 shares of Song Lam 2 Cement Joint Stock Company, etc., due to all of them failing to submit audited financial statements on time and not holding annual general meetings in the two most recent fiscal years, along with other reasons.

Accordingly, HNX requires that within 15 days from the date the shares are restricted from trading, the company must send a written explanation to the Hanoi Stock Exchange explaining the reasons and proposing solutions .

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