Recently, the Hanoi Stock Exchange (HNX) has announced that it will maintain the restricted trading status and will only allow trading on Fridays every week from October 5 for a series of stocks on the UPCoM floor.
First, DSC shares of Dai Chau Group Joint Stock Company were late in submitting the audited semi-annual financial statements more than 45 days after the deadline for publication as prescribed. At the same time, the company was also late in submitting the audited 2022 financial statements and reported that the auditing organization refused to give an opinion on the 2021 financial statements. Accordingly, DSC shares continue to be restricted from trading, even though they were previously under warning since July 13.
Similarly, KAC shares of Khang An Real Estate Investment JSC remain restricted from trading since October 5, 2023, because the company has not held the Annual General Meeting of Shareholders for the last 2 fiscal years within the maximum period from the end of the fiscal year. In addition, KAC is also late in submitting the audited 2023 semi-annual financial statements more than 45 days from the end of the announcement deadline, late in submitting the audited 2022 semi-annual financial statements and the audited 2022 financial statements.
HNX also restricted trading of GAB shares of FLC Mining Investment & Asset Management JSC from October 11 because the company was late in submitting its audited semi-annual financial statements for 2023 for more than 45 days as prescribed.
Khang An Real Estate Investment JSC maintains restricted transactions from October 5, 2023.
In addition, maintain the restricted trading status for PXC shares of Petroleum Urban Development Joint Stock Company because the company is late in submitting the audited semi-annual financial statements for 2023, the auditing organization refuses to give opinions on the financial statements for 2022, the enterprise has negative equity in the audited financial statements for 2022 according to the provisions at points a, b, c, Clause 1, Article 34 of the Regulations on Registration and Management of Unlisted Securities Transactions issued together with Decision No. 34 dated November 16, 2022 of the Board of Members of the Vietnam Stock Exchange.
PVA shares of Nghe An Petroleum Construction Corporation are also kept under trading restrictions because of late submission of audited semi-annual financial statements for 2023, and the failure to hold the 2023 Annual General Meeting of Shareholders.
In addition, the company has also stopped its main production and business activities for 1 year or more; has negative equity in the 2020 audited financial statements; the auditing organization refused to give an opinion on the 2020 financial statements; is late in submitting the audited semi-annual financial statements for 2021 and 2022 and the audited financial statements for 2021 and 2022 for more than 45 days as prescribed.
In addition, the Hanoi Stock Exchange also maintains the restricted trading of CLG shares of Cotec Real Estate Investment and Development JSC, AVF shares of Viet An JSC, DPS shares of Soc Son Development Investment JSC; HVG shares of Hung Vuong Corporation; HDO shares of Hung Dao Container JSC; PX1 shares of Song Lam 2 Cement JSC, etc. because they were late in submitting audited financial statements and did not organize the annual general meeting of shareholders in the last 2 fiscal years, along with a number of other reasons.
Accordingly, HNX requires that within 15 days from the date the shares are restricted from trading, the enterprise must send a document to the Hanoi Stock Exchange explaining the cause and providing a solution .
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